Thor Car Parts and Accessories Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 09565846 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2025

for

Thor Car Parts and Accessories Limited

Page

Company information

1

Chartered accountants' report

2

Statement of financial position

3

to

4

Notes to the financial statements

5

to

10

Director:

R Morjaria

Registered office:

Unit 6 & 7 Teal Farm Way

Washington

NE38 8BG

Registered number:

09565846 (England and Wales)

Accountants:

Moore Thompson

27 Market Place

Market Deeping

Peterborough

Cambridgeshire

PE6 8EA

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Thor Car Parts and Accessories Limited for the year ended 31 August 2025 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Thor Car Parts and Accessories Limited in accordance with the terms of our engagement letter dated 20 February 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Thor Car Parts and Accessories Limited and state those matters that we have agreed to state to the director of Thor Car Parts and Accessories Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Thor Car Parts and Accessories Limited and its director for our work or for this report.

It is your duty to ensure that Thor Car Parts and Accessories Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Thor Car Parts and Accessories Limited. You consider that Thor Car Parts and Accessories Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Thor Car Parts and Accessories Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Moore Thompson

27 Market Place

Market Deeping

Peterborough

Cambridgeshire

PE6 8EA

26 May 2026

Fixed assets

Tangible assets

5

229,278

173,188

Current assets

Stocks

760,661

732,623

Debtors

6

1,591,866

1,756,138

Cash at bank and in hand

170,387

260,871

2,522,914

2,749,632

Creditors

Amounts falling due within one year

7

1,616,676

1,560,900

Net current assets

906,238

1,188,732

Total assets less current liabilities

1,135,516

1,361,920

Creditors

Amounts falling due after more than one
year

8

(245,599

)

(232,881

)

Provisions for liabilities

(45,890

)

(29,883

)

Net assets

844,027

1,099,156

Capital and reserves

Called up share capital

11

100

Share premium

159,900

Retained earnings

684,027

939,156

Shareholders' funds

844,027

1,099,156

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 May 2026 and were signed by:

R Morjaria - Director

1.	Statutory information

Thor Car Parts and Accessories Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

Due to a change in the company's year end, the current financial statements cover a period of 12 months, whereas, the comparative figures cover a period of 15 months. Therefore the comparative figures may not be entirely comparable

2.	Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Short leasehold

2% per annum

Plant and machinery

25% Reducing balance

Motor vehicles

25% Reducing balance

Computer equipment

50% Reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Defined contribution plans

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4.	Employees and directors

The average number of employees during the year was 22 (2024 - 21 ) .

5.	Tangible fixed assets

Short

Plant and

Motor

Computer

leasehold

machinery

vehicles

equipment

Totals

£

Cost

At 1 September 2024

39,725

81,873

232,167

8,220

361,985

Additions

-

116,265

-

116,265

Disposals

-

(24,250

)

-

(24,250

)

At 31 August 2025

39,725

81,873

324,182

8,220

454,000

Depreciation

At 1 September 2024

5,262

63,810

111,537

8,188

188,797

Charge for year

795

4,516

47,815

16

53,142

Eliminated on disposal

-

(17,217

)

-

(17,217

)

At 31 August 2025

6,057

68,326

142,135

8,204

224,722

Net book value

At 31 August 2025

33,668

13,547

182,047

16

229,278

At 31 August 2024

34,463

18,063

120,630

32

173,188

6.

Debtors: amounts falling due within one year

2025

2024

£

Trade debtors

730,040

826,848

Amounts owed by group undertakings

815,530

896,652

Tax

9,633

-

Prepayments and accrued income

36,663

32,638

1,591,866

1,756,138

7.

Creditors: amounts falling due within one year

2025

2024

£

Bank loans and overdrafts

468,175

483,348

Hire purchase contracts (see note 9)

55,590

22,269

Trade creditors

902,029

883,214

Net wages

6,328

-

Corporation tax

-

9,633

Other creditor

38,984

Social security and other taxes

14,768

11,990

VAT

59,764

95,710

Accruals and deferred income

71,038

15,752

1,616,676

1,560,900

8.

Creditors: amounts falling due after more than one year

2025

2024

£

Bank loans - 1-2 years

34,953

Bank loans and overdrafts

104,858

Bank loans

44,549

62,012

Hire purchase contracts (see note 9)

61,239

31,058

245,599

232,881

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

44,549

62,012

9.	Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

Net obligations repayable:

Within one year

55,590

22,269

Between one and five years

61,239

31,058

116,829

53,327

Non-cancellable

operating leases

2025

2024

£

Within one year

82,958

77,917

Between one and five years

161,792

244,750

322,667

10.	Secured debts

The following secured debts are included within creditors:

2025

2024

£

Bank loans

219,313

236,776

11.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

100

Ordinary shares

£1

100

12.	Related party transactions

Thor Motor Factors Ltd owned 75% of the ordinary shares in the company at the year end. Mr R Morjaria is the ultimate controlling party as he owns 75% of the share capital of Thor Holdings Limited which owns 100% of Thor Motor Factors Ltd. Management charges received during the year of £nil (2024 £26,003) from Thor Motor Factors Limited.

At 31 August 2025, Thor Car Parts and Accessories Limited is owed a balance of £766,134 (2024: £846,448) from Thor Motor Factors Limited.

At 31 August 2025, Thor Car Parts and Accessories Limited is owed a balance of £49,204 (2024: £50,204) from Thor Holdings Limited.

At 31 August 2025, Thor Car Parts and Accessories Limited is owed a balance of £192 (2024: £nil) from Parsnip Crumble Limited.