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REGISTERED NUMBER: 04925842 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

SHORADE ACCIDENT REPAIR CENTRE LIMITED

SHORADE ACCIDENT REPAIR CENTRE LIMITED (REGISTERED NUMBER: 04925842)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SHORADE ACCIDENT REPAIR CENTRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: S Shore





SECRETARY: Mrs L Shore





REGISTERED OFFICE: Shorade House
Walsall Road
Cannock
Staffordshire
WS11 0HP





REGISTERED NUMBER: 04925842 (England and Wales)





ACCOUNTANTS: Crombies Accountants Limited
Chartered Accountants
34 Waterloo Road
Wolverhampton
West Midlands
WV1 4DG

SHORADE ACCIDENT REPAIR CENTRE LIMITED (REGISTERED NUMBER: 04925842)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 320,443 373,967

CURRENT ASSETS
Stocks 185,723 206,019
Debtors 5 586,578 354,112
Prepayments and accrued income 21,911 -
Cash at bank and in hand 440,106 489,389
1,234,318 1,049,520
CREDITORS
Amounts falling due within one year 6 627,136 557,130
NET CURRENT ASSETS 607,182 492,390
TOTAL ASSETS LESS CURRENT
LIABILITIES

927,625

866,357

CREDITORS
Amounts falling due after more than one
year

7

(136,281

)

(190,554

)

PROVISIONS FOR LIABILITIES (68,864 ) (51,118 )
NET ASSETS 722,480 624,685

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 722,380 624,585
SHAREHOLDERS' FUNDS 722,480 624,685

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

SHORADE ACCIDENT REPAIR CENTRE LIMITED (REGISTERED NUMBER: 04925842)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 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 director and authorised for issue on 4 July 2023 and were signed by:





S Shore - Director


SHORADE ACCIDENT REPAIR CENTRE LIMITED (REGISTERED NUMBER: 04925842)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Shorade Accident Repair Centre Limited 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 the amount derived from ordinary activities, and stated after trade discounts, other sales taxes and net of VAT

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - straight line over lease term
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

SHORADE ACCIDENT REPAIR CENTRE LIMITED (REGISTERED NUMBER: 04925842)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2022 - 24 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2022 13,835 1,267,081 111,869
Additions - 52,072 4,779
Disposals - - -
At 31 March 2023 13,835 1,319,153 116,648
DEPRECIATION
At 1 April 2022 3,026 1,027,390 80,399
Charge for year 1,729 43,896 6,076
Eliminated on disposal - - -
At 31 March 2023 4,755 1,071,286 86,475
NET BOOK VALUE
At 31 March 2023 9,080 247,867 30,173
At 31 March 2022 10,809 239,691 31,470

SHORADE ACCIDENT REPAIR CENTRE LIMITED (REGISTERED NUMBER: 04925842)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 122,395 13,852 1,529,032
Additions - 4,487 61,338
Disposals (70,500 ) - (70,500 )
At 31 March 2023 51,895 18,339 1,519,870
DEPRECIATION
At 1 April 2022 39,321 4,929 1,155,065
Charge for year 7,979 4,025 63,705
Eliminated on disposal (19,343 ) - (19,343 )
At 31 March 2023 27,957 8,954 1,199,427
NET BOOK VALUE
At 31 March 2023 23,938 9,385 320,443
At 31 March 2022 83,074 8,923 373,967

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022
and 31 March 2023 22,500
DEPRECIATION
At 1 April 2022 11,162
Charge for year 2,834
At 31 March 2023 13,996
NET BOOK VALUE
At 31 March 2023 8,504
At 31 March 2022 11,338

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 495,343 317,037
Amounts owed by group undertakings 91,235 37,075
586,578 354,112

SHORADE ACCIDENT REPAIR CENTRE LIMITED (REGISTERED NUMBER: 04925842)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 50,000 50,000
Hire purchase contracts 4,273 4,099
Trade creditors 282,606 314,236
Tax 66,304 19,684
Social security and other taxes 145,832 85,748
Other creditors 5,627 2,659
Wages control 59,917 51,514
Pensions Control 4,903 3,645
Directors' current accounts 2,424 1,444
Accrued expenses 5,250 24,101
627,136 557,130

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 8) 133,333 183,333
Hire purchase contracts 2,948 7,221
136,281 190,554

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 50,000 50,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 50,000 50,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 83,333 133,333

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 7,221 11,320

Hire purchase liabilities are secured by a charge over the assets to which they relate.

SHORADE ACCIDENT REPAIR CENTRE LIMITED (REGISTERED NUMBER: 04925842)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

10. PARENT COMPANY

Sasco Investments Limited, a company incorporated in England and Wales is considered to be the company's parent company. The registered office of Sasco Investments Limited is Shorade House, Walsall Road, Cannock, Staffordshire WS11 0HP. Exemption is claimed under the Companies Act 2006 from preparing consolidated accounts as the group is small.