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Company Registration No. 10697713 (England and Wales)
Surface Magic Repairs Ltd Unaudited accounts for the year ended 31 March 2024
Surface Magic Repairs Ltd Unaudited accounts Contents
Page
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Surface Magic Repairs Ltd Company Information for the year ended 31 March 2024
Director
Paul Philip Dorning
Company Number
10697713 (England and Wales)
Registered Office
Unit 5 Nelson Mill Gaskell Street Bolton Greater Manchester BL1 2QE
Accountants
Xeinadin Group Regent House Folds Road Bolton BL1 2RZ
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Surface Magic Repairs Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
17,195 
17,195 
Tangible assets
27,596 
38,833 
44,791 
56,028 
Current assets
Inventories
5,000 
5,000 
Debtors
132,353 
102,493 
Cash at bank and in hand
85,426 
93,050 
222,779 
200,543 
Creditors: amounts falling due within one year
(127,511)
(72,423)
Net current assets
95,268 
128,120 
Total assets less current liabilities
140,059 
184,148 
Creditors: amounts falling due after more than one year
(11,193)
(20,128)
Provisions for liabilities
Deferred tax
(5,243)
(2,975)
Net assets
123,623 
161,045 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
123,523 
160,945 
Shareholders' funds
123,623 
161,045 
For the year ending 31 March 2024 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 15 August 2024 and were signed on its behalf by
Paul Philip Dorning Director Company Registration No. 10697713
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Surface Magic Repairs Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Surface Magic Repairs Ltd is a private company, limited by shares, registered in England and Wales, registration number 10697713. The registered office is Unit 5 Nelson Mill, Gaskell Street, Bolton, Greater Manchester, BL1 2QE.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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:
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
15% Reducing Balance
Computer equipment
33% Straight Line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Intangible fixed assets
Total 
£ 
Cost
At 1 April 2023
37,195 
At 31 March 2024
37,195 
Amortisation
At 1 April 2023
20,000 
At 31 March 2024
20,000 
Net book value
At 31 March 2024
17,195 
At 31 March 2023
17,195 
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Surface Magic Repairs Ltd Notes to the Accounts for the year ended 31 March 2024
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 April 2023
73,930 
Disposals
(570)
At 31 March 2024
73,360 
Depreciation
At 1 April 2023
35,097 
Charge for the year
10,916 
On disposals
(249)
At 31 March 2024
45,764 
Net book value
At 31 March 2024
27,596 
At 31 March 2023
38,833 
6
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
99 Ordinary shares of £1 each
99 
100 
1 Ordinary A Shares of £1 each
1 
- 
100 
100 
Shares issued during the period:
1 Ordinary A Shares of £1 each
1 
7
Average number of employees
During the year the average number of employees was 25 (2023: 19).
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