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Registration number: 06439710

One Stop Check Limited

REPORT OF THE DIRECTORS and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

One Stop Check Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 14

 

One Stop Check Limited

Company Information

Directors

Mr Philip Richards

Mrs Emma Richards

Registered office

Unit 15 Betws Business Park
Park Street
Ammanford
Carmarthenshire
SA18 2ET
 

Accountants

Wynne & Co
Chartered Accountants
Forestry House
Brewery Road
Carmarthen
Carmarthenshire
SA31 1TF

 

One Stop Check Limited

(Registration number: 06439710)
Balance Sheet as at 31 March 2023

Note

31 March
2023
£

31 March
2022
£

fixed assets

 

Intangible assets

4

12,000

16,000

tangible assets

5

19,658

19,908

 

31,658

35,908

Current assets

 

stocks

6

3,870

4,002

Debtors (including Directors Account)

7

31,912

37,778

 

35,782

41,780

Creditors: Amounts falling due within one year

8

(60,088)

(67,808)

Net current liabilities

 

(24,306)

(26,028)

Total assets less current liabilities

 

7,352

9,880

Creditors: Amounts falling due after more than one year

8

(7,040)

(9,577)

Net assets

 

312

303

capital and reserves

 

Called up share capital

2

2

Profit and loss account

310

301

Total equity

 

312

303

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

One Stop Check Limited

(Registration number: 06439710)
Balance Sheet as at 31 March 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 August 2023 and signed on its behalf by:
 

.........................................
Mrs Emma Richards
Director

 

One Stop Check Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit 15 Betws Business Park
Park Street
Ammanford
Carmarthenshire
SA18 2ET
Wales

These financial statements were authorised for issue by the Board on 31 August 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

These financial statements have been prepared on a going concern basis

 

One Stop Check Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Tools and equipment

15% on reducing balance

Fixtures and fittings

15% on reducing balance

Motor vehicles

25% on reducing balance

 

One Stop Check Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line from 31.03.16 (FRS 102)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

One Stop Check Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

One Stop Check Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 6).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2022

50,000

50,000

At 31 March 2023

50,000

50,000

Amortisation

At 1 April 2022

34,000

34,000

Amortisation charge

4,000

4,000

At 31 March 2023

38,000

38,000

Carrying amount

At 31 March 2023

12,000

12,000

At 31 March 2022

16,000

16,000

 

One Stop Check Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023

5

Tangible assets

Property Improvements
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

1,831

1,375

13,722

31,100

48,028

Additions

-

-

2,500

3,109

5,609

Disposals

-

-

(2,500)

-

(2,500)

At 31 March 2023

1,831

1,375

13,722

34,209

51,137

Depreciation

At 1 April 2022

-

951

8,314

18,855

28,120

Charge for the year

-

64

1,352

1,943

3,359

At 31 March 2023

-

1,015

9,666

20,798

31,479

Carrying amount

At 31 March 2023

1,831

360

4,056

13,411

19,658

At 31 March 2022

1,831

424

5,408

12,245

19,908

 

One Stop Check Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023

6

Stocks

31 March
2023
£

31 March
2022
£

Other inventories

3,870

4,002

7

Debtors

Current

31 March
2023
£

31 March
2022
£

Trade debtors

3,000

4,000

Prepayments

1,296

762

Other debtors

27,616

33,016

 

31,912

37,778

 

One Stop Check Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023

8

Creditors

Creditors: amounts falling due within one year

Note

31 March
2023
£

31 March
2022
£

Due within one year

 

Bank loans and overdrafts

10

8,671

14,652

Trade creditors

 

24,748

30,327

Taxation and social security

 

7,369

7,676

Accruals and deferred income

 

2,121

1,477

Other creditors

 

17,179

13,676

 

60,088

67,808

Creditors: amounts falling due after more than one year

Note

31 March
2023
£

31 March
2022
£

Due after one year

 

Loans and borrowings

10

7,040

9,577

9

Share capital

Allotted, called up and fully paid shares

 

31 March
2023

31 March
2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         
 

One Stop Check Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023

10

Loans and borrowings

31 March
2023
£

31 March
2022
£

Non-current loans and borrowings

Other borrowings

7,040

9,577

31 March
2023
£

31 March
2022
£

Current loans and borrowings

Bank overdrafts

5,883

11,410

Other borrowings

2,788

3,242

8,671

14,652

11

Dividends

Interim dividends paid

   

31 March
2023
£

 

31 March
2022
£

Interim dividend of £24,370.00 (2022 - £15,500.00) per each Ordinary

 

48,740

 

31,000

         

12

Related party transactions

Transactions with directors

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Mr Philip Richards

Directors loan

33,014

71,443

(76,841)

27,616

         
       

 

 

One Stop Check Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023

2022

At 1 April 2021
£

Advances to director
£

Repayments by director
£

At 31 March 2022
£

Mr Philip Richards

Directors loan

24,095

77,385

(68,466)

33,014

         
       

 

One Stop Check Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023

 

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

9,100

8,840