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Logo On Report
Registered Number: 04400912
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 March 2023

for

COSMETIC REPAIR SOLUTIONS LIMITED

Director Graham Jenkins
Registered Number 04400912
Registered Office THE BODY WORKSHOP
SHEFFIELD ROAD
CHESTERFIELD
S41 8NQ
Accountants Holdsworth Accountants Ltd
Omega Court
350 Cemetery Road
Sheffield
S11 8FT
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 March 2023
Principal activities
The companys principal activity during the year was that of maintaining and repairing motor vehicles.
Director
The director who served the company throughout the year was as follows:
Graham Jenkins
Statement of director's responsibilities
The director is responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The director is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
Graham Jenkins
Director

Date approved: 25 October 2023
2
Report to the directors on the preparation of the unaudited statutory accounts of COSMETIC REPAIR SOLUTIONS LIMITED for the year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of COSMETIC REPAIR SOLUTIONS LIMITED for the year ended 31 March 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of COSMETIC REPAIR SOLUTIONS LIMITED, as a body, in accordance with the terms of our engagement letter dated 25 October 2023 Our work has been undertaken solely to prepare for your approval the accounts of COSMETIC REPAIR SOLUTIONS LIMITED and state those matters that we have agreed to state to the Board of Directors of COSMETIC REPAIR SOLUTIONS LIMITED, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than COSMETIC REPAIR SOLUTIONS LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that COSMETIC REPAIR SOLUTIONS LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of COSMETIC REPAIR SOLUTIONS LIMITED. You consider that COSMETIC REPAIR SOLUTIONS 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 accounts of COSMETIC REPAIR SOLUTIONS 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 accounts
31 March 2023



....................................................
Holdsworth Accountants Ltd
Omega Court
350 Cemetery Road
Sheffield
S11 8FT
25 October 2023
3
 

 
Notes

 
2023
£

  2022
£
(as restated)
Fixed assets      
Tangible fixed assets 3 407,029    376,732 
407,029    376,732 
Current assets      
Stocks 4 1,000    1,000 
Debtors 5 461,844    305,832 
Cash at bank and in hand 392,165    375,624 
855,009    682,456 
Creditors: amount falling due within one year 6 (377,217)   (392,885)
Net current assets 477,792    289,571 
 
Total assets less current liabilities 884,821    666,303 
Creditors: amount falling due after more than one year 7 (42,999)   (56,155)
Provisions for liabilities 8 (56,810)   (50,784)
Net assets 785,012    559,364 
 

Capital and reserves
     
Called up share capital 9 300    300 
Profit and loss account 784,712    559,064 
Shareholder's funds 785,012    559,364 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 25 October 2023 and were signed by:


-------------------------------
Graham Jenkins
Director
4
General Information
COSMETIC REPAIR SOLUTIONS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04400912, registration address THE BODY WORKSHOP, SHEFFIELD ROAD, CHESTERFIELD, S41 8NQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
Computer Equipment 15% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 18 (2022 : 17).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £   £
At 01 April 2022 81,033    276,768    200,844    29,957    28,590    617,192 
Additions   60,987    33,014    5,500    1,049    100,550 
Disposals          
At 31 March 2023 81,033    337,755    233,858    35,457    29,639    717,742 
Depreciation
At 01 April 2022   115,965    106,853    4,774    12,868    240,460 
Charge for year   30,546    31,751    4,602    3,354    70,253 
On disposals          
At 31 March 2023   146,511    138,604    9,376    16,222    310,713 
Net book values
Closing balance as at 31 March 2023 81,033    191,244    95,254    26,081    13,417    407,029 
Opening balance as at 01 April 2022 81,033    160,803    93,991    25,183    15,722    376,732 


4.

Stocks

2023
£
  2022
£
Stocks 1,000    1,000 
1,000    1,000 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 387,981    289,178 
Intercompany Loan 73,863    16,654 
461,844    305,832 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 116,518    218,070 
Corporation Tax 66,998    31,816 
PAYE & Social Security 25,036    25,614 
Obligations under HP/Financial Leases 25,252    25,406 
Net Wages Accrual 22,898    30,019 
Pension Accrual 2,052    2,052 
VAT 118,463    59,908 
377,217    392,885 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Obligations Under HP/Financial Leases 42,999    56,155 
42,999    56,155 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 56,810    50,784 
56,810    50,784 

9.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
300 Class A shares of £1.00 each 300    300 
300    300 

5