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
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
Surface Magic Repairs Ltd
Statement of financial position
as at 31 March 2024
Intangible assets
17,195
17,195
Tangible assets
27,596
38,833
Cash at bank and in hand
85,426
93,050
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
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
Surface Magic Repairs Ltd
Notes to the Accounts
for the year ended 31 March 2024
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.
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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.
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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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
Surface Magic Repairs Ltd
Notes to the Accounts
for the year ended 31 March 2024
5
Tangible fixed assets
Total
Charge for the year
10,916
Allotted, called up and fully paid:
99 Ordinary shares of £1 each
99
100
1 Ordinary A Shares of £1 each
1
-
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).