Company Registration No. 12127160 (England and Wales)
Revival Bodyworks Ltd
Unaudited accounts
for the year ended 31 July 2023
Revival Bodyworks Ltd
Unaudited accounts
Contents
Revival Bodyworks Ltd
Company Information
for the year ended 31 July 2023
Company Number
12127160 (England and Wales)
Registered Office
10 CEMETERY ROAD
MAESTEG
CF34 0LW
WALES
Accountants
STAS Ltd
253 Cowbridge Road West
Cardiff
CF5 5TD
Revival Bodyworks Ltd
Statement of financial position
as at 31 July 2023
Tangible assets
5,000
10,000
Cash at bank and in hand
52,721
25,298
Creditors: amounts falling due within one year
(74,133)
(67,688)
Net current liabilities
(21,412)
(42,390)
Net liabilities
(16,412)
(32,390)
Called up share capital
1
1
Profit and loss account
(16,413)
(32,391)
Shareholders' funds
(16,412)
(32,390)
For the year ending 31 July 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 29 July 2024 and were signed on its behalf by
D Mullins
Director
Company Registration No. 12127160
Revival Bodyworks Ltd
Notes to the Accounts
for the year ended 31 July 2023
Revival Bodyworks Ltd is a private company, limited by shares, registered in England and Wales, registration number 12127160. The registered office is 10 CEMETERY ROAD, MAESTEG, CF34 0LW, 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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
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:
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The directors and shareholders will continue to support the business over the next 12 months up to a maximum of £20,000. They envisage trading profitably within the next 2 years.
Revival Bodyworks Ltd
Notes to the Accounts
for the year ended 31 July 2023
4
Tangible fixed assets
Plant & machinery
5
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
4,215
1,583
Other creditors
5,261
2,519
Loans from directors
61,003
61,135
6
Average number of employees
During the year the average number of employees was 3 (2022: 2).