REGISTERED NUMBER: 05163780 (England and Wales)

Ludford Parts Ltd

Unaudited Financial Statements

for the Year Ended 31 December 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R D Fish

R Fish

Mrs R A Fish

SECRETARY:

Mrs E C Griffiths

REGISTERED OFFICE:

47 Weeping Cross Lane

Ludlow

SHROPSHIRE

SY8 1JH

REGISTERED NUMBER:

05163780 (England and Wales)

ACCOUNTANTS:

Streets Dyke Ruscoe Ltd

110 Corve Street

Ludlow

SHROPSHIRE

SY8 1DJ

FIXED ASSETS

Intangible assets

4

3,000

4,000

Tangible assets

5

522,584

600,008

525,584

604,008

CURRENT ASSETS

Stocks

740,112

649,067

Debtors

6

1,792,146

1,712,199

Cash at bank and in hand

2,141,757

1,988,611

4,674,015

4,349,877

CREDITORS

Amounts falling due within one year

7

1,155,947

1,668,100

NET CURRENT ASSETS

3,518,068

2,681,777

TOTAL ASSETS LESS CURRENT LIABILITIES

4,043,652

3,285,785

PROVISIONS FOR LIABILITIES

53,948

73,654

NET ASSETS

3,989,704

3,212,131

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

3,989,604

3,212,031

SHAREHOLDERS' FUNDS

3,989,704

3,212,131

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.

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 10 July 2026 and were signed on its behalf by:

R Fish - Director

Mrs R A Fish - Director

R D Fish - Director

1.	STATUTORY INFORMATION

Ludford Parts Ltd 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

Not provided

Improvements to property

-

2% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

33% on cost

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2024 - 28 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2025

and 31 December 2025

10,000

AMORTISATION

At 1 January 2025

6,000

Charge for year

1,000

At 31 December 2025

7,000

NET BOOK VALUE

At 31 December 2025

3,000

At 31 December 2024

4,000

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 January 2025

302,368

4,914

24,323

Additions

-

-

-

Disposals

-

-

-

At 31 December 2025

302,368

4,914

24,323

DEPRECIATION

At 1 January 2025

-

393

15,279

Charge for year

-

98

1,808

Eliminated on disposal

-

-

-

At 31 December 2025

-

491

17,087

NET BOOK VALUE

At 31 December 2025

302,368

4,423

7,236

At 31 December 2024

302,368

4,521

9,044

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2025

65,588

302,084

78,190

777,467

Additions

-

34,199

-

34,199

Disposals

-

(75,851

)

-

(75,851

)

At 31 December 2025

65,588

260,432

78,190

735,815

DEPRECIATION

At 1 January 2025

28,573

56,984

76,230

177,459

Charge for year

7,403

40,541

1,767

51,617

Eliminated on disposal

-

(15,845

)

-

(15,845

)

At 31 December 2025

35,976

81,680

77,997

213,231

NET BOOK VALUE

At 31 December 2025

29,612

178,752

193

522,584

At 31 December 2024

37,015

245,100

1,960

600,008

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,277,823

1,271,445

Other debtors

501,180

405,245

Directors' current accounts

-

16,630

Prepayments

13,143

18,879

1,792,146

1,712,199

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

814,453

1,322,249

Tax

150,590

126,933

Social security and other taxes

14,818

23,431

VAT

110,844

94,587

Other creditors

-

4,451

Directors' current accounts

38,565

49,406

Accrued expenses

26,677

47,043

1,155,947

1,668,100

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2025 and 31 December 2024:

2025

2024

£

£

R D Fish

Balance outstanding at start of year

16,630

(2,478

)

Amounts advanced

20,378

19,108

Amounts repaid

(43,537

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(6,529

)

16,630

Loans from directors

Loans from directors are unsecured, carry interest at a commercial rate of 12% per annum and are repayable on demand.

Overdrawn director's loan account

During the year, a director's loan account was overdrawn and exceeded £10,000. No interest has been charged by the company on the overdrawn balance. The loan is unsecured and repayable on demand.

9.	RELATED PARTY DISCLOSURES

Ludford Parts Ltd owns a 52.75% share of a commercial property. The premises is solely used by Ludford Parts Ltd for business purposes. The remaining share of the same commercial property is owned by entities in which directors have an interest.

Ludford Parts Ltd has paid rent to the directors in the year of £43,788 (2023: £43,788)