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REGISTERED NUMBER: 08347506 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Smartworld Body Repairs Limited

Smartworld Body Repairs Limited (Registered number: 08347506)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Smartworld Body Repairs Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mrs L Dorey
A Dorey





REGISTERED OFFICE: 128 High Street
Crediton
Devon
EX17 3LQ





REGISTERED NUMBER: 08347506 (England and Wales)





ACCOUNTANTS: Bedford & Co Limited
128 High Street
Crediton
Devon
EX17 3LQ

Smartworld Body Repairs Limited (Registered number: 08347506)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 191,648 220,458

CURRENT ASSETS
Stocks 45,334 41,548
Debtors 5 154,709 110,488
Cash at bank 143,592 163,319
343,635 315,355
CREDITORS
Amounts falling due within one year 6 269,021 221,847
NET CURRENT ASSETS 74,614 93,508
TOTAL ASSETS LESS CURRENT
LIABILITIES

266,262

313,966

CREDITORS
Amounts falling due after more than one
year

7

(100,673

)

(116,885

)

PROVISIONS FOR LIABILITIES (30,229 ) (31,823 )
NET ASSETS 135,360 165,258

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 135,260 165,158
135,360 165,258

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

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

Smartworld Body Repairs Limited (Registered number: 08347506)

Balance Sheet - continued
31 January 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 27 March 2024 and were signed on its behalf by:





A Dorey - Director


Smartworld Body Repairs Limited (Registered number: 08347506)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Smartworld Body Repairs 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 company's place of business is 2-3 The Grange Units, Trusham Road, Marsh Barton, Exeter, Devon, EX2 8RB

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 measured at the fair value of the consideration received or receivable from the sale of services, excluding discounts, rebates, value added tax and other sales taxes.
Revenue is recognised when services are delivered to customers such that risks and rewards of ownership have been transferred to them and that there is sufficient reliable evidence that delivery of goods has occurred.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 25% on cost
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Cost is calculated on a first in first out basis.

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.

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.

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

Smartworld Body Repairs Limited (Registered number: 08347506)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

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 18 (2023 - 18 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023 20,318 339,609 359,927
Additions - 81,384 81,384
Disposals - (85,701 ) (85,701 )
At 31 January 2024 20,318 335,292 355,610
DEPRECIATION
At 1 February 2023 20,318 119,151 139,469
Charge for year - 51,228 51,228
Eliminated on disposal - (26,735 ) (26,735 )
At 31 January 2024 20,318 143,644 163,962
NET BOOK VALUE
At 31 January 2024 - 191,648 191,648
At 31 January 2023 - 220,458 220,458

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 139,542 107,831
Other debtors 15,167 2,657
154,709 110,488

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 26,439 61,018
Trade creditors 100,839 35,272
Taxation and social security 51,343 23,178
Other creditors 80,400 92,379
269,021 221,847

Smartworld Body Repairs Limited (Registered number: 08347506)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 13,333 23,333
Hire purchase contracts 87,340 93,552
100,673 116,885

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Hire purchase contracts 113,779 154,570