IRIS Accounts Production v23.3.0.418 11086272 Board of Directors Board of Directors 1.3.22 28.2.23 28.2.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh110862722022-02-28110862722023-02-28110862722022-03-012023-02-28110862722021-02-28110862722021-03-012022-02-28110862722022-02-2811086272ns15:Walesns10:Original2022-03-012023-02-2811086272ns14:PoundSterlingns10:Original2022-03-012023-02-2811086272ns10:Originalns10:Director12022-03-012023-02-2811086272ns10:Original2022-03-012023-02-2811086272ns10:Originalns10:Director22022-03-012023-02-2811086272ns10:Original2023-02-2811086272ns10:Originalns10:PrivateLimitedCompanyLtd2022-03-012023-02-2811086272ns10:Originalns10:SmallEntities2022-03-012023-02-2811086272ns10:Originalns10:AuditExempt-NoAccountantsReport2022-03-012023-02-2811086272ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-2811086272ns10:SmallCompaniesRegimeForAccountsns10:Original2022-03-012023-02-2811086272ns10:Originalns10:FullAccounts2022-03-012023-02-2811086272ns10:Originalns10:Director32022-03-012023-02-2811086272ns10:Originalns10:RegisteredOffice2022-03-012023-02-2811086272ns10:Original2022-02-2811086272ns10:Originalns5:CurrentFinancialInstruments2023-02-2811086272ns10:Originalns5:CurrentFinancialInstruments2022-02-2811086272ns10:Originalns5:Non-currentFinancialInstruments2023-02-2811086272ns10:Originalns5:Non-currentFinancialInstruments2022-02-2811086272ns5:ShareCapitalns10:Original2023-02-2811086272ns5:ShareCapitalns10:Original2022-02-2811086272ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-02-2811086272ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-02-2811086272ns10:Original2021-03-012022-02-2811086272ns10:Originalns5:CostValuation2023-02-2811086272ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2811086272ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-02-2811086272ns10:Originalns5:CurrentFinancialInstruments2022-03-012023-02-2811086272ns10:Originalns5:Non-currentFinancialInstruments2022-03-012023-02-28
REGISTERED NUMBER: 11086272 (Wales)















1ST CHOICE AUTO BODY GROUP UK LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28TH FEBRUARY 2023






1ST CHOICE AUTO BODY GROUP UK LTD (REGISTERED NUMBER: 11086272)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


1ST CHOICE AUTO BODY GROUP UK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28TH FEBRUARY 2023







DIRECTORS: Mr M J Summers
Mr S Coughlin
Mr C Young





REGISTERED OFFICE: Unit 10
Ipswich Road
Cardiff
CF23 9AG





REGISTERED NUMBER: 11086272 (Wales)





ACCOUNTANTS: Davies Williams Chartered Accountants
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ

1ST CHOICE AUTO BODY GROUP UK LTD (REGISTERED NUMBER: 11086272)

BALANCE SHEET
28TH FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 2,255,837 2,255,837

CURRENT ASSETS
Debtors 5 - 100,800
Cash at bank 45 1,734
45 102,534
CREDITORS
Amounts falling due within one year 6 1,968,570 1,989,415
NET CURRENT LIABILITIES (1,968,525 ) (1,886,881 )
TOTAL ASSETS LESS CURRENT LIABILITIES 287,312 368,956

CREDITORS
Amounts falling due after more than one
year

7

(141,577

)

(232,437

)

PROVISIONS FOR LIABILITIES (5,519 ) -
NET ASSETS 140,216 136,519

CAPITAL AND RESERVES
Called up share capital 108,600 108,600
Retained earnings 31,616 27,919
140,216 136,519

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

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

The directors acknowledge their 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.

1ST CHOICE AUTO BODY GROUP UK LTD (REGISTERED NUMBER: 11086272)

BALANCE SHEET - continued
28TH 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28th November 2023 and were signed on its behalf by:




Mr M J Summers - Director



Mr C Young - Director


1ST CHOICE AUTO BODY GROUP UK LTD (REGISTERED NUMBER: 11086272)

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


1. STATUTORY INFORMATION

1st Choice Auto Body Group UK Ltd is a private company, limited by shares , registered in Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Investments in associates
Investments in associate undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

1ST CHOICE AUTO BODY GROUP UK LTD (REGISTERED NUMBER: 11086272)

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


4. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1st March 2022
and 28th February 2023 2,255,837
NET BOOK VALUE
At 28th February 2023 2,255,837
At 28th February 2022 2,255,837

Investments represent the cost of acquiring the two subsidiary companies, 1st Choice Accident Repair Centre Limited and I & D Properties Limited

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 100,800

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 13,209 13,209
Taxation and social security 4,761 3,389
Other creditors 1,950,600 1,972,817
1,968,570 1,989,415

Other creditors includes £1,594,477 (2022- £1,468,710) due to 1st Choice Accident Repair Centre Limited and £265,268 (2022 - £100,800 due from) due to I&D Properties Limited, both subsidiary companies.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 141,577 232,437

At the balance sheet date the company owed loans of £232,432 (2022 - £736,543) to DBW Investments (12) Limited. The long-term loans are secured by fixed charges over the property and assets owned by the company and its subsidiary companies, being 1st Choice Accident Repair Centre Limited and I & D Properties Limited.