Registered number
08002992
REFURB DOCTOR LIMITED
Financial Statements
For the Year ended
31 March 2023
REFURB DOCTOR LIMITED
Company Information
Director
D.Yurkwich
Accountants
RJT Accountancy Limited
4 Woodridge Avenue
Allesley Green
Coventry
CV5 7PN
Bankers
Barclays Bank plc
Registered office
79 Drayton Crescent
Mount Nod
Coventry
CV5 7EL
Registered number
08002992
REFURB DOCTOR LIMITED
Registered number: 08002992
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 69,916 46,042
Current assets
Stocks 5,250 4,940
Debtors 4 43,659 13,776
Cash at bank and in hand 80,719 38,746
129,628 57,462
Creditors: amounts falling due within one year 5 (64,916) (34,598)
Net current assets 64,712 22,864
Total assets less current liabilities 134,628 68,906
Creditors: amounts falling due after more than one year 6 (55,742) (41,709)
Provisions for liabilities (13,284) (8,747)
Net assets 65,602 18,450
Capital and reserves
Called up share capital 1 1
Profit and loss account 65,601 18,449
Shareholder's funds 65,602 18,450
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The directors report and profit and loss account have not been delivered to the Registrar of Companies.
D.Yurkwich
Director
Approved by the board on 4 October 2023
REFURB DOCTOR LIMITED
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102- Section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer Equipment over 3 years
Plant and machinery 20% on Reducing Balance
Motor Vehicles 25% on Reducing Balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 5
3 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 April 2022 44,638 32,630 77,268
Additions 1,165 32,795 33,960
At 31 March 2023 45,803 65,425 111,228
Depreciation
At 1 April 2022 14,814 16,412 31,226
Charge for the year 4,365 5,721 10,086
At 31 March 2023 19,179 22,133 41,312
Net book value
At 31 March 2023 26,624 43,292 69,916
At 31 March 2022 29,824 16,218 46,042
4 Debtors 2023 2022
£ £
Trade debtors 43,659 13,776
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 7,000 6,417
Obligations under finance lease and hire purchase contracts 10,055 4,322
Corporation tax 9,632 -
Other taxes and social security costs 24,316 10,048
Other creditors 13,913 13,811
64,916 34,598
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 21,000 28,583
Obligations under finance lease and hire purchase contracts 34,742 13,126
55,742 41,709
7 Controlling party
The company is under the control of D.Yurkwich.
8 Other information
REFURB DOCTOR LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
79 Drayton Crescent
Mount Nod
Coventry
CV5 7EL
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