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REGISTERED NUMBER: 05852457 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

DURASHINE AUTO BODY RESTORATION LTD

DURASHINE AUTO BODY RESTORATION LTD (REGISTERED NUMBER: 05852457)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DURASHINE AUTO BODY RESTORATION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: J M Patten
Mrs C Patten





SECRETARY: Mrs C Patten





REGISTERED OFFICE: Unit 1
Crownfield Industrial Estate
Saunderton
Princes Risborough
Buckinghamshire
HP27 9NR





REGISTERED NUMBER: 05852457 (England and Wales)





ACCOUNTANTS: Partridges Accountancy Services Limited
Chartered Certified Accountants
Wellington House
Aylesbury Road
Princes Risborough
Buckinghamshire
HP27 0JP

DURASHINE AUTO BODY RESTORATION LTD (REGISTERED NUMBER: 05852457)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 14,092 10,590
14,092 10,590

CURRENT ASSETS
Stocks 6,000 6,000
Debtors 6 28,179 99,902
Cash at bank and in hand 284,552 43,107
318,731 149,009
CREDITORS
Amounts falling due within one year 7 202,174 117,374
NET CURRENT ASSETS 116,557 31,635
TOTAL ASSETS LESS CURRENT
LIABILITIES

130,649

42,225

CREDITORS
Amounts falling due after more than one
year

8

21,790

34,500
NET ASSETS 108,859 7,725

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 108,659 7,525
SHAREHOLDERS' FUNDS 108,859 7,725

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.

DURASHINE AUTO BODY RESTORATION LTD (REGISTERED NUMBER: 05852457)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:




J M Patten - Director



Mrs C Patten - Director


DURASHINE AUTO BODY RESTORATION LTD (REGISTERED NUMBER: 05852457)

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


1. STATUTORY INFORMATION

Durashine Auto Body Restoration Ltd 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, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of five 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 etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

DURASHINE AUTO BODY RESTORATION LTD (REGISTERED NUMBER: 05852457)

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


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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 45,000
AMORTISATION
At 1 April 2023
and 31 March 2024 45,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 117,482
Additions 6,838
At 31 March 2024 124,320
DEPRECIATION
At 1 April 2023 106,892
Charge for year 3,336
At 31 March 2024 110,228
NET BOOK VALUE
At 31 March 2024 14,092
At 31 March 2023 10,590

DURASHINE AUTO BODY RESTORATION LTD (REGISTERED NUMBER: 05852457)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade Debtors 25,173 96,058
Other debtors 3,006 3,844
28,179 99,902

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 20,245 3,754
Taxation and social security 72,944 15,530
Other creditors 98,985 88,090
202,174 117,374

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 21,790 34,500

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, the company owed Mr J Patten & Mrs C Patten the directors and controlling shareholders of the company, the sum of £75,556. The loan is interest free and repayable on demand.