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Company Registration No. 11796085 (England and Wales)
MANUAL GEARBOX REPAIRS LIMITED Unaudited accounts for the year ended 31 March 2023
MANUAL GEARBOX REPAIRS LIMITED Unaudited accounts Contents
Page
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MANUAL GEARBOX REPAIRS LIMITED Company Information for the year ended 31 March 2023
Director
Darran Hughes
Company Number
11796085 (England and Wales)
Registered Office
Unit 7 & 8 Dragon Auto Centre Phoenix Wa Swansea Enterprise Park Swansea SA7 9FU Wales
Accountants
Cadre Advisory Ltd Embassy Offices, Stangate House Stanwell Road Penarth CF64 2AA
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MANUAL GEARBOX REPAIRS LIMITED Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
6,602 
7,702 
Tangible assets
49,700 
36,555 
56,302 
44,257 
Current assets
Inventories
5,037 
5,037 
Debtors
2,838 
2,142 
Cash at bank and in hand
64,902 
88,019 
72,777 
95,198 
Creditors: amounts falling due within one year
(55,756)
(59,889)
Net current assets
17,021 
35,309 
Total assets less current liabilities
73,323 
79,566 
Creditors: amounts falling due after more than one year
(36,117)
(49,730)
Provisions for liabilities
Deferred tax
(9,442)
(6,945)
Net assets
27,764 
22,891 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
27,664 
22,791 
Shareholders' funds
27,764 
22,891 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and authorised for issue on 21 November 2023 and were signed on its behalf by
Darran Hughes Director Company Registration No. 11796085
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MANUAL GEARBOX REPAIRS LIMITED Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
MANUAL GEARBOX REPAIRS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11796085. The registered office is Unit 7 & 8 Dragon Auto Centre Phoenix Wa, Swansea Enterprise Park, Swansea, SA7 9FU, Wales.
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.
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:
Plant & machinery
10% on cost
Motor vehicles
10% on cost
Fixtures & fittings
25% Reducing Balance
Computer equipment
25% Reducing Balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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.
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MANUAL GEARBOX REPAIRS LIMITED Notes to the Accounts for the year ended 31 March 2023
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2022
11,005 
At 31 March 2023
11,005 
Amortisation
At 1 April 2022
3,303 
Charge for the year
1,100 
At 31 March 2023
4,403 
Net book value
At 31 March 2023
6,602 
At 31 March 2022
7,702 
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 April 2022
11,500 
28,303 
2,499 
1,195 
43,497 
Additions
- 
19,385 
- 
- 
19,385 
At 31 March 2023
11,500 
47,688 
2,499 
1,195 
62,882 
Depreciation
At 1 April 2022
3,450 
2,376 
753 
363 
6,942 
Charge for the year
1,150 
4,446 
436 
208 
6,240 
At 31 March 2023
4,600 
6,822 
1,189 
571 
13,182 
Net book value
At 31 March 2023
6,900 
40,866 
1,310 
624 
49,700 
At 31 March 2022
8,050 
25,927 
1,746 
832 
36,555 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
2,838 
2,142 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,165 
10,165 
VAT
8,365 
10,270 
Obligations under finance leases and hire purchase contracts
3,321 
3,321 
Trade creditors
26,328 
25,646 
Taxes and social security
4,999 
7,473 
Other creditors
2,318 
1,466 
Loans from directors
260 
1,548 
55,756 
59,889 
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MANUAL GEARBOX REPAIRS LIMITED Notes to the Accounts for the year ended 31 March 2023
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
20,779 
31,071 
Obligations under finance leases and hire purchase contracts
15,338 
18,659 
36,117 
49,730 
9
Average number of employees
During the year the average number of employees was 5 (2022: 5).
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