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REGISTERED NUMBER: 08227614 (England and Wales)















COSMETIC AUTO REPAIRS LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023






COSMETIC AUTO REPAIRS LTD (REGISTERED NUMBER: 08227614)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COSMETIC AUTO REPAIRS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: S Moyes





REGISTERED OFFICE: 12 High Street
Whitwell
Worksop
Derbyshire
S80 4QU





REGISTERED NUMBER: 08227614 (England and Wales)





ACCOUNTANTS: Duncan Chartered Accountants
5 Cherrytree
Union Road
Sheffield
South Yorkshire
S11 9EF

COSMETIC AUTO REPAIRS LTD (REGISTERED NUMBER: 08227614)

BALANCE SHEET
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 46,875 50,000
Tangible assets 5 - -
46,875 50,000

CURRENT ASSETS
Stocks 200 200
Debtors 6 126,222 120,788
Cash at bank 635 2
127,057 120,990
CREDITORS
Amounts falling due within one year 7 121,143 98,775
NET CURRENT ASSETS 5,914 22,215
TOTAL ASSETS LESS CURRENT
LIABILITIES

52,789

72,215

CREDITORS
Amounts falling due after more than one
year

8

5,758

-
NET ASSETS 47,031 72,215

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 46,931 72,115
SHAREHOLDERS' FUNDS 47,031 72,215

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

COSMETIC AUTO REPAIRS LTD (REGISTERED NUMBER: 08227614)

BALANCE SHEET - continued
28 FEBRUARY 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 director and authorised for issue on 23 November 2023 and were signed by:





S Moyes - Director


COSMETIC AUTO REPAIRS LTD (REGISTERED NUMBER: 08227614)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Cosmetic Auto Repairs Ltd 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 (£).


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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 33% 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

COSMETIC AUTO REPAIRS LTD (REGISTERED NUMBER: 08227614)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 62,500
AMORTISATION
At 1 March 2022 12,500
Charge for year 3,125
At 28 February 2023 15,625
NET BOOK VALUE
At 28 February 2023 46,875
At 28 February 2022 50,000

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2022
and 28 February 2023 186 200 386
DEPRECIATION
At 1 March 2022
and 28 February 2023 186 200 386
NET BOOK VALUE
At 28 February 2023 - - -
At 28 February 2022 - - -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 2,581 736
Other debtors 123,641 120,052
126,222 120,788

COSMETIC AUTO REPAIRS LTD (REGISTERED NUMBER: 08227614)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 11,362 7,478
Trade creditors 2,872 1,662
Tax 74,198 64,697
Social security and other taxes 881 -
VAT 29,010 22,118
Accrued expenses 2,820 2,820
121,143 98,775

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans - 1-2 years 5,758 -

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

28.2.23 28.2.22
£    £   
S Moyes
Balance outstanding at start of year 100,410 83,720
Amounts advanced 44,132 56,502
Amounts repaid (41,399 ) (39,812 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 103,143 100,410