KIRKHAM PART EXCHANGE CENTRE LIMITED

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 14425932

		2025		2024 as restated
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		15,943		19,966

			15,943		19,966
CURRENT ASSETS
Stocks	5	610,253		373,148
Debtors	6	145,191		256,006
Cash at bank and in hand		59,628		88,453

		815,072		717,607
Creditors: Amounts Falling Due Within One Year	7	(819,272 )		(731,664 )

NET CURRENT ASSETS (LIABILITIES)			(4,200 )		(14,057 )

TOTAL ASSETS LESS CURRENT LIABILITIES			11,743		5,909

PROVISIONS FOR LIABILITIES
Deferred Taxation			(3,030 )		(3,794 )

NET ASSETS			8,713		2,115

CAPITAL AND RESERVES
Called up share capital	8		100		100
Profit and Loss Account			8,613		2,015

SHAREHOLDERS' FUNDS			8,713		2,115

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KIRKHAM PART EXCHANGE CENTRE LIMITED

Balance Sheet (continued)

As At 31 October 2025

For the year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Jay Williamson

Director

02/12/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

KIRKHAM PART EXCHANGE CENTRE LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 14425932 . The registered office is 11 Bridge Street , Bury, Lancashire, BL0 9AB.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% RB
Motor Vehicles	20% RB
Computer Equipment	20% RB

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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KIRKHAM PART EXCHANGE CENTRE LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

2.5. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2024: 1)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 November 2024	5,536	12,000	5,231	22,767
Additions	548	-	-	548

As at 31 October 2025	6,084	12,000	5,231	23,315

Depreciation
As at 1 November 2024	1,522	-	1,279	2,801
Provided during the period	1,125	2,400	1,046	4,571

As at 31 October 2025	2,647	2,400	2,325	7,372

Net Book Value
As at 31 October 2025	3,437	9,600	2,906	15,943

As at 1 November 2024	4,014	12,000	3,952	19,966

5. Stocks

	2025	2024 as restated
	£	£
Stock	610,253	373,148

6. Debtors

	2025	2024 as restated
	£	£
Due within one year
Other debtors	145,191	256,006

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KIRKHAM PART EXCHANGE CENTRE LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

7. Creditors: Amounts Falling Due Within One Year

	2025	2024 as restated
	£	£
Trade creditors	589,727	492,735
Other loans	36,928	80,020
Other creditors	169,689	122,219
Taxation and social security	22,928	36,690

	819,272	731,664

8. Share Capital

	2025	2024 as restated
	£	£
Allotted, Called up and fully paid	100	100

9. Transition to FRS 102

As part of the company’s financial reporting transition, we have adopted FRS 102 for the first time in the preparation of our

financial statements. This change has resulted in adjustments to our accounting policies and financial disclosures.

As part of the transition, the company has restated its comparative figures for the year ended 31 October 2024 to reflect the

recognition of deferred tax liabilities on timing differences not previously accounted for. Deferred tax of £3,794 has been

recognised in the restated comparative for the Year Ended 31 October 2024.

This has resulted in the restated prior year figures showing a retained earnings for the Year Ended 31 October 2024 of £2,015.

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