09359420falseelectronic equipment repairs2023-01-012023-12-31http://www.companieshouse.gov.uk/2022-12-31http://www.companieshouse.gov.uk/pt:ShareCapital2022-12-31http://www.companieshouse.gov.uk/cd:Director12023-01-012023-12-31http://www.companieshouse.gov.uk/pt:ShareCapital2023-12-31http://www.companieshouse.gov.uk/pt:FurnitureFittings2022-12-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2022-12-31http://www.companieshouse.gov.uk/pt:FurnitureFittings2023-12-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12023-01-012023-12-31http://www.companieshouse.gov.uk/pt:MotorCars2022-12-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2023-12-31http://www.companieshouse.gov.uk/cd:RegisteredOffice2023-01-012023-12-31http://www.companieshouse.gov.uk/pt:MotorCars2023-12-31http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2023-01-012023-12-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2023-12-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2022-12-31http://www.companieshouse.gov.uk/2023-01-012023-12-31http://www.companieshouse.gov.uk/2022-12-31http://www.companieshouse.gov.uk/cd:FRS1022023-01-012023-12-31http://www.companieshouse.gov.uk/2023-12-31http://www.companieshouse.gov.uk/cd:FullAccounts2023-01-012023-12-31http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2023-01-012023-12-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 09359420
REPAIR NOT REPLACE LIMITED
ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Prepared By:
Reed-Ransted
Chartered Accountants
2 Burhill Grove
Pinner
Middlesex
HA5 3DW
REPAIR NOT REPLACE LIMITED
ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
DIRECTORS
MK Jones
REGISTERED OFFICE
2 Malvern Close
Wellingborough
Northants
NN8 2RU
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 09359420
.
.
ACCOUNTANTS
Reed-Ransted
Chartered Accountants
2 Burhill Grove
Pinner
Middlesex
HA5 3DW
REPAIR NOT REPLACE LIMITED
ACCOUNTS
FOR THEYEARENDED31 DECEMBER 2023
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
REPAIR NOT REPLACE LIMITED
BALANCE SHEET AT31 December 2023
Registered number: 09359420
20232022
Notes££
FIXED ASSETS
Tangible assets23,7694,727
CURRENT ASSETS
Stock10,00011,000
Debtors42,5727,242
Cash at bank and in hand9,2285,326
21,80023,568
CREDITORS: Amounts falling due within one year5326,943324,873
NET CURRENT LIABILITIES(305,143)(301,305)
TOTAL ASSETS LESS CURRENT LIABILITIES(301,374)(296,578)
CREDITORS: Amounts falling due after more than one year610,02811,703
NET LIABILITIES(311,402)(308,281)
CAPITAL AND RESERVES
Called up share capital811
Profit and loss account(311,403)(308,282)
SHAREHOLDERS' FUNDS(311,402)(308,281)
For the year ending 31 December 2023 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on7 August 2024and signed on their behalf by
.............................
MK Jones
Director
REPAIR NOT REPLACE LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Going Concern
The company has negative net assets and is reliant on the financial support of the director. These financial statements have been prepared on the going concern basis on the assumption that this financial support will continue for the forseeable future.
1c. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Fixtures and Fittingsreducing balance 15%
Equipmentreducing balance 25%
Motor Carsreducing balance 25%
1d. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1e. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
REPAIR NOT REPLACE LIMITED
2. TANGIBLE FIXED ASSETS
Fixtures
and FittingsEquipmentMotor CarsTotal
££££
Cost
At 1 January 20234,5328,8021,50014,834
At 31 December 20234,5328,8021,50014,834
Depreciation
At 1 January 20232,2757,17665610,107
For the year339408211958
At 31 December 20232,6147,58486711,065
Net Book Amounts
At 31 December 20231,9181,2186333,769
At 31 December 20222,2571,6268444,727
3. STOCK 20232022
££
Stock comprises:
Stock10,00011,000
10,00011,000
4. DEBTORS 20232022
££
Amounts falling due within one year
Trade debtors-370
Other debtors2,5726,872
2,5727,242
REPAIR NOT REPLACE LIMITED
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
VAT1,4831,221
Directors current account295,860295,613
Bank Loan1,5001,500
Trade creditors26,57525,043
Other creditors-1
Accruals1,5251,495
326,943324,873
6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20232022
££
Bank loans10,02811,703
10,02811,703
The bank loan is for a ten year term repayable by instalments commencing December 2021. The amount outstanding after more than 5 years is £7,500.
7. EMPLOYEES
20232022
No.No.
Average number of employees33
8. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
1 Ordinary shares of £1 each11
11
9. CONTROLLING PARTY
The company is controlled by MK Jones by virtue of his 100% shareholding.
REPAIR NOT REPLACE LIMITED
10. RELATED PARTY TRANSACTIONS
The director's loan is non-interest bearing.