Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-04-01truefalseNo description of principal activity86false 07163865 2022-04-01 2023-03-31 07163865 2021-04-01 2022-03-31 07163865 2023-03-31 07163865 2022-03-31 07163865 c:Director1 2022-04-01 2023-03-31 07163865 d:PlantMachinery 2022-04-01 2023-03-31 07163865 d:PlantMachinery 2023-03-31 07163865 d:PlantMachinery 2022-03-31 07163865 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07163865 d:MotorVehicles 2022-04-01 2023-03-31 07163865 d:MotorVehicles 2023-03-31 07163865 d:MotorVehicles 2022-03-31 07163865 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07163865 d:ComputerEquipment 2022-04-01 2023-03-31 07163865 d:ComputerEquipment 2023-03-31 07163865 d:ComputerEquipment 2022-03-31 07163865 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07163865 d:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 07163865 d:OtherPropertyPlantEquipment 2023-03-31 07163865 d:OtherPropertyPlantEquipment 2022-03-31 07163865 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07163865 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07163865 d:CurrentFinancialInstruments 2023-03-31 07163865 d:CurrentFinancialInstruments 2022-03-31 07163865 d:Non-currentFinancialInstruments 2023-03-31 07163865 d:Non-currentFinancialInstruments 2022-03-31 07163865 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07163865 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 07163865 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07163865 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 07163865 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 07163865 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 07163865 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 07163865 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 07163865 d:ShareCapital 2023-03-31 07163865 d:ShareCapital 2022-03-31 07163865 d:RetainedEarningsAccumulatedLosses 2023-03-31 07163865 d:RetainedEarningsAccumulatedLosses 2022-03-31 07163865 c:FRS102 2022-04-01 2023-03-31 07163865 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 07163865 c:FullAccounts 2022-04-01 2023-03-31 07163865 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure
Registered number: 07163865









C & R REPAIRS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023














 
C & R REPAIRS LIMITED
REGISTERED NUMBER:07163865

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
106,970
85,301

  
106,970
85,301

Current assets
  

Debtors: amounts falling due after more than one year
 5 
3,740
-

Debtors: amounts falling due within one year
 5 
33,603
27,284

Cash at bank and in hand
  
4,496
30,336

  
41,839
57,620

Creditors: amounts falling due within one year
 6 
(107,315)
(106,415)

Net current liabilities
  
 
 
(65,476)
 
 
(48,795)

Total assets less current liabilities
  
41,494
36,506

Creditors: amounts falling due after more than one year
  
(30,316)
(33,205)

  

Net assets
  
11,178
3,301


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
11,176
3,299

  
11,178
3,301


Page 1

 
C & R REPAIRS LIMITED
REGISTERED NUMBER:07163865
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 November 2023.




C Banks
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
C & R REPAIRS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

C & R Repairs Limited is a private company, limited by shares, domiciled in England. The registered office is Unit 1 Thorverton Mill, Thorverton, Exeter, Devon, EX5 5LX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors confirm that, having considered their expectations and intentions for the next twelve months, and the availability of working capital, the company is a going concern.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
C & R REPAIRS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Page 4

 
C & R REPAIRS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following methods.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
straight line
Motor vehicles
-
20%
reducing balance
Computer equipment
-
33%
straight line
Other fixed assets
-
10%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
C & R REPAIRS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2022 - 6).

Page 6

 
C & R REPAIRS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Computer equipment
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 April 2022
149,757
47,166
110
37,545
234,578


Additions
17,876
-
-
47,640
65,516


Disposals
-
-
-
(22,020)
(22,020)



At 31 March 2023

167,633
47,166
110
63,165
278,074



Depreciation


At 1 April 2022
128,550
13,631
110
6,986
149,277


Charge for the year on owned assets
11,366
6,707
-
6,776
24,849


Disposals
-
-
-
(3,022)
(3,022)



At 31 March 2023

139,916
20,338
110
10,740
171,104



Net book value



At 31 March 2023
27,717
26,828
-
52,425
106,970



At 31 March 2022
21,207
33,535
-
30,559
85,301

Page 7

 
C & R REPAIRS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
3,740
-

3,740
-


2023
2022
£
£

Due within one year

Trade debtors
7,778
2,286

Other debtors
25,825
24,998

33,603
27,284



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
8,670
-

Bank loans
9,932
9,687

Trade creditors
41,309
33,228

Corporation tax
8,624
24,881

Other taxation and social security
10,007
8,434

Obligations under finance lease and hire purchase contracts
1,532
-

Other creditors
27,241
30,185

107,315
106,415


Page 8

 
C & R REPAIRS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
9,932
9,687


9,932
9,687

Amounts falling due 1-2 years

Bank loans
10,183
9,932


10,183
9,932

Amounts falling due 2-5 years

Bank loans
13,090
23,273


13,090
23,273


33,205
42,892



8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £4,049 (2022 - £3,029) . Contributions totalling £558 (2022 - £409) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 9