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REGISTERED NUMBER: 03812498 (England and Wales)















SPEEDY FIXINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 FEBRUARY 2022 TO 31 MARCH 2023






SPEEDY FIXINGS LIMITED (REGISTERED NUMBER: 03812498)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 FEBRUARY 2022 TO 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


SPEEDY FIXINGS LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 FEBRUARY 2022 TO 31 MARCH 2023







DIRECTORS: Mr K. P. Burgess
Mr S. Cook





REGISTERED OFFICE: Town Wall House
Balkerne Hill
Colchester
Essex
CO3 3AD





REGISTERED NUMBER: 03812498 (England and Wales)

SPEEDY FIXINGS LIMITED (REGISTERED NUMBER: 03812498)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 42,544 56,185

CURRENT ASSETS
Stocks 250,000 190,373
Debtors 5 227,228 124,775
Cash at bank and in hand 300,321 127,332
777,549 442,480
CREDITORS
Amounts falling due within one year 6 (341,012 ) (185,574 )
NET CURRENT ASSETS 436,537 256,906
TOTAL ASSETS LESS CURRENT LIABILITIES 479,081 313,091

PROVISIONS FOR LIABILITIES (8,083 ) (10,675 )
NET ASSETS 470,998 302,416

CAPITAL AND RESERVES
Called up share capital 80 80
Retained earnings 470,918 302,336
470,998 302,416

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2023 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.

SPEEDY FIXINGS LIMITED (REGISTERED NUMBER: 03812498)

BALANCE SHEET - continued
31 MARCH 2023


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 26 October 2023 and were signed on its behalf by:





Mr K. P. Burgess - Director


SPEEDY FIXINGS LIMITED (REGISTERED NUMBER: 03812498)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 FEBRUARY 2022 TO 31 MARCH 2023


1. STATUTORY INFORMATION

Speedy Fixings 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 (£) and the financial statements are rounded to the nearest Pound.

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 the total amount receivable by the company for goods supplied and services provided, excluding VAT and trade discounts.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Website - 33% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% 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.

Financial instruments
Basic financial instruments are recognised at amortised cost.

Taxation
Taxation for the period 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.


SPEEDY FIXINGS LIMITED (REGISTERED NUMBER: 03812498)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2022 TO 31 MARCH 2023


2. ACCOUNTING POLICIES - continued
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 period 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.

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.

Subvention policy
It is the group policy to surrender corporation tax losses to group companies for consideration equal to the
tax saving made by the recipient company.

Government grants
The company has chosen to adopt the accruals model in relation to income received from the government.
Grants and other government related income is recognised in the income statement on a systematic basis.
The entity recognises gross costs for which the grant is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 9 (2022 - 10 ) .

SPEEDY FIXINGS LIMITED (REGISTERED NUMBER: 03812498)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2022 TO 31 MARCH 2023


4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Motor Computer
Website fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2022 35,844 5,146 23,662 43,300 107,952
Additions - - - 4,760 4,760
At 31 March 2023 35,844 5,146 23,662 48,060 112,712
DEPRECIATION
At 1 February 2022 35,844 3,657 3,889 8,377 51,767
Charge for period - 286 6,901 11,214 18,401
At 31 March 2023 35,844 3,943 10,790 19,591 70,168
NET BOOK VALUE
At 31 March 2023 - 1,203 12,872 28,469 42,544
At 31 January 2022 - 1,489 19,773 34,923 56,185

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 148,972 117,807
Other debtors - 3,550
Directors' current accounts 68,247 -
Prepayments and accrued income 10,009 3,418
227,228 124,775

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 67,150 57,747
Amounts due to group undertakings 141,286 33,286
Amounts due to parent 22,500 7,500
Corporation tax 72,670 25,255
Other tax and social security 31,360 28,327
Other creditors 2,849 923
Directors' current accounts - 27,405
Accruals and deferred income 3,197 5,131
341,012 185,574

SPEEDY FIXINGS LIMITED (REGISTERED NUMBER: 03812498)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2022 TO 31 MARCH 2023


7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 6,789 9,051
Between one and five years 12,445 754
19,234 9,805

8. TRANSACTIONS WITH THE DIRECTOR

During the year, Mr K Burgess had drawings of £342,242 from the company and introduced £250,345. At the year end, Mr K Burgess owed the company £64,492 (2022: was owed £27,405).

During the year, Mr S Cook had drawings of £35,010 from the company and introduced £31,255. At the year end, Mr S Cook owed the company £3,755 (2022: £Nil).