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REGISTERED NUMBER: 03812498 (England and Wales)















SPEEDY FIXINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2024






SPEEDY FIXINGS LIMITED (REGISTERED NUMBER: 03812498)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


SPEEDY FIXINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr K. P. Burgess
Mr S. Cook





REGISTERED OFFICE: Town Wall House
Balkerne Hill
Colchester
Essex
CO3 3AD





REGISTERED NUMBER: 03812498 (England and Wales)

SPEEDY FIXINGS LIMITED (REGISTERED NUMBER: 03812498)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 28,094 42,544

CURRENT ASSETS
Stocks 245,593 250,000
Debtors 5 143,496 227,228
Cash at bank and in hand 268,583 300,321
657,672 777,549
CREDITORS
Amounts falling due within one year 6 (294,730 ) (341,012 )
NET CURRENT ASSETS 362,942 436,537
TOTAL ASSETS LESS CURRENT LIABILITIES 391,036 479,081

PROVISIONS FOR LIABILITIES (7,023 ) (8,083 )
NET ASSETS 384,013 470,998

CAPITAL AND RESERVES
Called up share capital 80 80
Retained earnings 383,933 470,918
384,013 470,998

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

SPEEDY FIXINGS LIMITED (REGISTERED NUMBER: 03812498)

BALANCE SHEET - continued
31 MARCH 2024


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 Board of Directors and authorised for issue on 24 July 2024 and were signed on its behalf by:





Mr K. P. Burgess - Director


SPEEDY FIXINGS LIMITED (REGISTERED NUMBER: 03812498)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Speedy Fixings 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.

For the purposes of presentation, the financial statements are rounded to the nearest 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 total amount receivable by the company for goods supplied and services provided, excluding VAT and trade discounts.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Website - 33% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% 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.

Financial instruments
Basic financial instruments are recognised at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


SPEEDY FIXINGS LIMITED (REGISTERED NUMBER: 03812498)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
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.

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.

Subvention policy
It is the group policy to surrender corporation tax losses to group companies for consideration equal to the
tax saving made by the recipient company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 9 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Motor Computer
Website fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023
and 31 March 2024 35,844 5,146 23,662 48,060 112,712
DEPRECIATION
At 1 April 2023 35,844 3,943 10,790 19,591 70,168
Charge for year - 245 4,593 9,612 14,450
At 31 March 2024 35,844 4,188 15,383 29,203 84,618
NET BOOK VALUE
At 31 March 2024 - 958 8,279 18,857 28,094
At 31 March 2023 - 1,203 12,872 28,469 42,544

SPEEDY FIXINGS LIMITED (REGISTERED NUMBER: 03812498)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 111,766 148,972
Directors' current accounts 20,919 68,247
Prepayments and accrued income 10,811 10,009
143,496 227,228

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 61,319 67,150
Amounts due to group undertakings 141,286 141,286
Amounts due to parent 220 22,500
Corporation tax 50,034 72,670
Other tax and social security 34,453 31,360
Other creditors 1,799 2,849
Directors' current accounts 45 -
Accruals and deferred income 5,574 3,197
294,730 341,012

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year - 6,789
Between one and five years - 12,445
- 19,234

8. TRANSACTIONS WITH THE DIRECTOR

During the year, Mr K Burgess had drawings of £151,427 and introduced capital of £195,000. At the year end, Mr K Burgess owed the company £20,919 (2023: £64,492).