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Company Registration No. 08832685 (England and Wales)
Totalfix.it Limited Unaudited accounts for the year ended 31 January 2023
Totalfix.it Limited Unaudited accounts Contents
Page
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Totalfix.it Limited Company Information for the year ended 31 January 2023
Directors
R J Crook T-L Cooper
Company Number
08832685 (England and Wales)
Registered Office
2 Willow Cottages Gay Bowers Road Danbury Essex CM3 4JQ
Accountants
First Cloud Accounting Ltd 12 Sheene Grove BRAINTREE Essex CM7 9FS
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Totalfix.it Limited Statement of financial position as at 31 January 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
30,593 
39,654 
Current assets
Inventories
22,800 
41,000 
Debtors
9,756 
15,134 
Cash at bank and in hand
100,865 
125,554 
133,421 
181,688 
Creditors: amounts falling due within one year
(95,410)
(136,363)
Net current assets
38,011 
45,325 
Total assets less current liabilities
68,604 
84,979 
Creditors: amounts falling due after more than one year
(42,064)
(61,724)
Provisions for liabilities
Deferred tax
(7,899)
(7,571)
Net assets
18,641 
15,684 
Capital and reserves
Called up share capital
200 
200 
Profit and loss account
18,441 
15,484 
Shareholders' funds
18,641 
15,684 
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 November 2023 and were signed on its behalf by
R J Crook Director Company Registration No. 08832685
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Totalfix.it Limited Notes to the Accounts for the year ended 31 January 2023
1
Statutory information
Totalfix.it Limited is a private company, limited by shares, registered in England and Wales, registration number 08832685. The registered office is 2 Willow Cottages, Gay Bowers Road, Danbury, Essex, CM3 4JQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% reducing balance
Computer equipment
Straight line over 3 years
Stocks and work in progress
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Totalfix.it Limited Notes to the Accounts for the year ended 31 January 2023
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 February 2022
53,524 
2,153 
55,677 
Additions
- 
294 
294 
At 31 January 2023
53,524 
2,447 
55,971 
Depreciation
At 1 February 2022
15,264 
759 
16,023 
Charge for the year
8,573 
782 
9,355 
At 31 January 2023
23,837 
1,541 
25,378 
Net book value
At 31 January 2023
29,687 
906 
30,593 
At 31 January 2022
38,260 
1,394 
39,654 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
8,648 
13,045 
Accrued income and prepayments
1,108 
2,089 
9,756 
15,134 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
20,193 
19,999 
VAT
8,313 
9,732 
Trade creditors
37,218 
40,596 
Taxes and social security
25,046 
16,131 
Other creditors
3,514 
25,910 
Loans from directors
1,126 
23,995 
95,410 
136,363 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
42,064 
61,724 
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Totalfix.it Limited Notes to the Accounts for the year ended 31 January 2023
8
Average number of employees
During the year the average number of employees was 4 (2022: 3).
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