REGISTERED NUMBER: 01859465 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

I P TRUCK PARTS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr P Vickers

Mr S Vickers

REGISTERED OFFICE:

Unit 7 Gateway 4

Knowsley Business Park, School Lane

Knowsley

Liverpool

Merseyside

L34 9EN

REGISTERED NUMBER:

01859465 (England and Wales)

ACCOUNTANTS:

Livesey Spottiswood Ltd

Chartered Accountants

17 George Street

St Helens

Merseyside

WA10 1DB

FIXED ASSETS

Tangible assets

4

50,082

46,803

CURRENT ASSETS

Stocks

334,935

281,559

Debtors

454,469

336,395

Cash at bank and in hand

249,386

196,311

1,038,790

814,265

CREDITORS

Amounts falling due within one year

(587,056

)

(455,101

)

NET CURRENT ASSETS

451,734

359,164

TOTAL ASSETS LESS CURRENT LIABILITIES

501,816

405,967

PROVISIONS FOR LIABILITIES

(12,520

)

(11,700

)

NET ASSETS

489,296

394,267

CAPITAL AND RESERVES

Called up share capital

7

50

50

Capital redemption reserve

50

50

Retained earnings

489,196

394,167

SHAREHOLDERS' FUNDS

489,296

394,267

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

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

The directors acknowledge their 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 May 2026 and were signed on its behalf by:

Mr P Vickers - Director

1.	STATUTORY INFORMATION

I P Truck Parts 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 (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Fixtures, fittings and equipment

-

15% on reducing balance

Motor vehicles

-

25% straight line

Assets are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all purchase, transport and handling costs in bringing stock to its present location and condition. Cost is calculated using the average cost formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Pension costs and other post-retirement benefits

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

Employee benefits

Short-term employee benefits are recognised as an expense in the period in which the employees render the related service. A liability is recognised for the amount expected to be paid if the entity has a present obligation as a result of past service provided by employees.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2025

151,920

Additions

10,671

At 31 December 2025

162,591

DEPRECIATION

At 1 January 2025

105,117

Charge for year

7,392

At 31 December 2025

112,509

NET BOOK VALUE

At 31 December 2025

50,082

At 31 December 2024

46,803

5.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

57,907

1,792

Between one and five years

147,868

30,513

In more than five years

41,125

-

246,900

32,305

6.	SECURED DEBTS

The bank and invoice discounting borrowings are secured by a fixed and floating charge over the assets of the company. The director has also given a limited personal guarantee amounting to £15,000 in respect of the invoice discounting facility.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

40

Ordinary 'A'

£1

40

40

5

Ordinary 'B'

£1

5

5

5

Ordinary 'C'

£1

5

5

50

50