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REGISTERED NUMBER: 06340573 (England and Wales)















REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

EAST GRINSTEAD CRASH REPAIRS LIMITED

EAST GRINSTEAD CRASH REPAIRS LIMITED (Registered number: 06340573)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 NOVEMBER 2023




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


EAST GRINSTEAD CRASH REPAIRS LIMITED

COMPANY INFORMATION
for the Year Ended 30 NOVEMBER 2023







DIRECTORS: R. Pitman
R. Pitman



SECRETARY: Mrs. R. A. Pitman



REGISTERED OFFICE: The Annexe, Minerva House,
Bordyke,
Tonbridge,
Kent
TN9 1NR



REGISTERED NUMBER: 06340573 (England and Wales)



ACCOUNTANTS: Bennett & Co
The Annexe
Minerva House
Bordyke
Tonbridge
Kent
TN9 1NR



BANKERS: National Westminster Bank PLC

EAST GRINSTEAD CRASH REPAIRS LIMITED (Registered number: 06340573)

REPORT OF THE DIRECTORS
for the Year Ended 30 NOVEMBER 2023

The directors present their report with the financial statements of the company for the year ended 30 November 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of Motor Vehicle Repairers.

DIVIDENDS
Interim dividends per share were paid as follows:
£37.50 - 30 November 2022
£37.50 - 24 March 2023
£37.50 - 23 June 2023
£37.50 - 22 September 2023
150.00

The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 30 November 2023 will be £ 150,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 December 2022 to the date of this report.

R. Pitman
R. Pitman

ON BEHALF OF THE BOARD:





Mrs. R. A. Pitman - Secretary


23 August 2024

EAST GRINSTEAD CRASH REPAIRS LIMITED (Registered number: 06340573)

INCOME STATEMENT
for the Year Ended 30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £   

TURNOVER 2,201,096 1,808,730

Cost of sales 1,590,061 1,303,997
GROSS PROFIT 611,035 504,733

Administrative expenses 323,716 301,417
OPERATING PROFIT 4 287,319 203,316

Interest receivable and similar income 1,432 -
288,751 203,316

Interest payable and similar expenses 60,187 50,358
PROFIT BEFORE TAXATION 228,564 152,958

Tax on profit 5 53,096 30,608
PROFIT FOR THE FINANCIAL YEAR 175,468 122,350

EAST GRINSTEAD CRASH REPAIRS LIMITED (Registered number: 06340573)

BALANCE SHEET
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 78,000 84,000
Tangible assets 8 28,000 27,000
106,000 111,000

CURRENT ASSETS
Stocks 9 14,000 15,500
Debtors 10 274,901 352,669
Cash at bank and in hand 362,897 294,202
651,798 662,371
CREDITORS
Amounts falling due within one year 11 344,313 353,612
NET CURRENT ASSETS 307,485 308,759
TOTAL ASSETS LESS CURRENT
LIABILITIES

413,485

419,759

CREDITORS
Amounts falling due after more than one
year

12

(87,689

)

(119,431

)

PROVISIONS FOR LIABILITIES 14 (3,000 ) (3,000 )
NET ASSETS 322,796 297,328

CAPITAL AND RESERVES
Called up share capital 15 1,000 1,000
Retained earnings 16 321,796 296,328
SHAREHOLDERS' FUNDS 322,796 297,328

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

EAST GRINSTEAD CRASH REPAIRS LIMITED (Registered number: 06340573)

BALANCE SHEET - continued
30 NOVEMBER 2023


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 23 August 2024 and were signed on its behalf by:




R. Pitman - Director



R. Pitman - Director


EAST GRINSTEAD CRASH REPAIRS LIMITED (Registered number: 06340573)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 NOVEMBER 2023

1. STATUTORY INFORMATION

EAST GRINSTEAD CRASH 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.

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, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill is to be written off over the estimated period of useful life being 20 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

EAST GRINSTEAD CRASH REPAIRS LIMITED (Registered number: 06340573)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued

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.

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
30.11.23 30.11.22
£    £   
Wages and salaries 479,391 408,655
Other pension costs 7,780 6,860
487,171 415,515

The average number of employees during the year was as follows:
30.11.23 30.11.22

Vehicle Repair Operatives 12 11
Office Administration 4 4
16 15

30.11.23 30.11.22
£    £   
Directors' remuneration 65,765 65,819

4. OPERATING PROFIT

The operating profit is stated after charging:

30.11.23 30.11.22
£    £   
Depreciation - owned assets 3,326 4,000
Goodwill amortisation 6,000 6,000

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.11.23 30.11.22
£    £   
Current tax:
UK corporation tax 53,000 30,500
Adjustment in respect of preceding year. 96 108

Tax on profit 53,096 30,608

UK corporation tax has been charged at 23% (2022 - 19%).

EAST GRINSTEAD CRASH REPAIRS LIMITED (Registered number: 06340573)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 NOVEMBER 2023

6. DIVIDENDS
30.11.23 30.11.22
£    £   
Ordinary Shares shares of £1 each
Interim 150,000 150,000

7. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 150,000
AMORTISATION
At 1 December 2022 66,000
Amortisation for year 6,000
At 30 November 2023 72,000
NET BOOK VALUE
At 30 November 2023 78,000
At 30 November 2022 84,000

8. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 December 2022 94,118 31,000 125,118
Additions 4,326 - 4,326
At 30 November 2023 98,444 31,000 129,444
DEPRECIATION
At 1 December 2022 67,118 31,000 98,118
Charge for year 3,326 - 3,326
At 30 November 2023 70,444 31,000 101,444
NET BOOK VALUE
At 30 November 2023 28,000 - 28,000
At 30 November 2022 27,000 - 27,000

9. STOCKS
30.11.23 30.11.22
£    £   
Work in Progress 14,000 15,500

EAST GRINSTEAD CRASH REPAIRS LIMITED (Registered number: 06340573)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 NOVEMBER 2023

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade Debtors 258,220 331,070
Prepayments 16,681 21,599
274,901 352,669

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Invoice Discounting Debenture 95,517 113,712
Invoice Discounting Finance 17,233 39,148
Trade Creditors 117,425 112,069
Corporation Tax 53,000 30,500
Social security and other taxes 10,942 11,785
Value Added Tax 44,796 41,398
Accrued Expenses 5,400 5,000
344,313 353,612

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans - 2-5 years 22,500 31,500
Directors Loan Accounts 65,189 87,931
87,689 119,431

13. SECURED DEBTS

The Debenture is charged over all assets in favour of The Royal Bank of Scotland.

14. PROVISIONS FOR LIABILITIES
30.11.23 30.11.22
£    £   
Deferred tax 3,000 3,000

Deferred
tax
£   
Balance at 1 December 2022 3,000
Provision for the Year
Balance at 30 November 2023 3,000

EAST GRINSTEAD CRASH REPAIRS LIMITED (Registered number: 06340573)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 NOVEMBER 2023

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
1,000 Ordinary Shares £1 1,000 1,000

16. RESERVES
Retained
earnings
£   

At 1 December 2022 296,328
Profit for the year 175,468
Dividends (150,000 )
At 30 November 2023 321,796