Registered number: 09359420 | ||||||||
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 | ||||||||
REGISTERED OFFICE | ||||||||
Northants | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 09359420 | ||||||||
. | ||||||||
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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 Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
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 AT | ||||||||||
Registered number: 09359420 | ||||||||||
2023 | 2022 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 2 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 4 | |||||||||
Cash at bank and in hand | ||||||||||
21,800 | 23,568 | |||||||||
CREDITORS: Amounts falling due within one year | 5 | |||||||||
NET CURRENT LIABILITIES | ( | (301,305) | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ( | ( | ||||||||
CREDITORS: Amounts falling due after more than one year | 6 | 10,028 | 11,703 | |||||||
NET LIABILITIES | ( | ( | ||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 8 | |||||||||
Profit and loss account | (311,403) | (308,282) | ||||||||
SHAREHOLDERS' FUNDS | ( | ( | ||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
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 | ||||||||
Fixtures and Fittings | reducing balance 15% | |||||||
Equipment | reducing balance 25% | |||||||
Motor Cars | reducing 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 Fittings | Equipment | Motor Cars | Total | |||||
£ | £ | £ | £ | |||||
Cost | ||||||||
At 1 January 2023 | 4,532 | 8,802 | 1,500 | 14,834 | ||||
At 31 December 2023 | 4,532 | 8,802 | 1,500 | 14,834 | ||||
Depreciation | ||||||||
At 1 January 2023 | 2,275 | 7,176 | 656 | 10,107 | ||||
For the year | 339 | 408 | 211 | 958 | ||||
At 31 December 2023 | 2,614 | 7,584 | 867 | 11,065 | ||||
Net Book Amounts | ||||||||
At 31 December 2023 | 3,769 | |||||||
At 31 December 2022 | 4,727 | |||||||
3. STOCK | 2023 | 2022 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock | ||||||
4. DEBTORS | 2023 | 2022 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | - | 370 | ||||||
Other debtors | 2,572 | 6,872 | ||||||
2,572 | 7,242 | |||||||
REPAIR NOT REPLACE LIMITED | ||||||||
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
VAT | 1,483 | 1,221 | ||||||
Directors current account | 295,860 | 295,613 | ||||||
Bank Loan | 1,500 | 1,500 | ||||||
Trade creditors | 26,575 | 25,043 | ||||||
Other creditors | - | 1 | ||||||
Accruals | 1,525 | 1,495 | ||||||
326,943 | 324,873 | |||||||
6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Bank loans | 10,028 | 11,703 | ||||||
10,028 | 11,703 | |||||||
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 | ||||||
2023 | 2022 | |||||
No. | No. | |||||
Average number of employees | 3 | |||||
8. SHARE CAPITAL | 2023 | 2022 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
1 | 1 | |||||||
1 | 1 | |||||||
9. CONTROLLING PARTY | ||||||||
The company is controlled by MK Jones by virtue of his 100% shareholding. | ||||||||
REPAIR NOT REPLACE LIMITED | ||||||||
10. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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