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REGISTERED NUMBER: 04569054 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 22 DECEMBER 2023

FOR

S.M. AUTO & BODY REPAIRS LTD

S.M. AUTO & BODY REPAIRS LTD (REGISTERED NUMBER: 04569054)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 22 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


S.M. AUTO & BODY REPAIRS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 22 DECEMBER 2023







DIRECTOR: H D S Nagra





REGISTERED OFFICE: Unit 17
The Arches Industrial Estate
Coventry
West Midlands
CV1 3JQ





REGISTERED NUMBER: 04569054 (England and Wales)





ACCOUNTANTS: Armstrongs
Chartered Accountants and Tax Advisers
1 & 2 Mercia Village
Torwood Close
Westwood Business Park
Coventry
West Midlands
CV4 8HX

S.M. AUTO & BODY REPAIRS LTD (REGISTERED NUMBER: 04569054)

BALANCE SHEET
22 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 31,050 26,012
31,050 26,012

CURRENT ASSETS
Stocks 318 303
Debtors 6 112,444 136,610
Cash at bank 158,183 11,292
270,945 148,205
CREDITORS
Amounts falling due within one year 7 123,341 52,015
NET CURRENT ASSETS 147,604 96,190
TOTAL ASSETS LESS CURRENT
LIABILITIES

178,654

122,202

PROVISIONS FOR LIABILITIES 5,213 4,942
NET ASSETS 173,441 117,260

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 9 173,440 117,259
SHAREHOLDERS' FUNDS 173,441 117,260

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 22 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 22 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

S.M. AUTO & BODY REPAIRS LTD (REGISTERED NUMBER: 04569054)

BALANCE SHEET - continued
22 DECEMBER 2023


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 director and authorised for issue on 20 September 2024 and were signed by:





H D S Nagra - Director


S.M. AUTO & BODY REPAIRS LTD (REGISTERED NUMBER: 04569054)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 22 DECEMBER 2023

1. STATUTORY INFORMATION

S.M. Auto & Body Repairs 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Rendering of Services

When the outcome of a transaction can be estimated reliably, turnover from services, repairs & MOTS completed on Automobiles is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the completion of the original actions instructed by the customers and any further repairs needed, advised by ourselves, which have been agreed with the customer.

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.
Improvements to property - Over the period of lease
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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 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.


S.M. AUTO & BODY REPAIRS LTD (REGISTERED NUMBER: 04569054)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 22 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

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 5 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 23 December 2022
and 22 December 2023 10,000
AMORTISATION
At 23 December 2022
and 22 December 2023 10,000
NET BOOK VALUE
At 22 December 2023 -
At 22 December 2022 -

S.M. AUTO & BODY REPAIRS LTD (REGISTERED NUMBER: 04569054)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 22 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 23 December 2022 19,777 47,592 4,040
Additions - 5,250 -
At 22 December 2023 19,777 52,842 4,040
DEPRECIATION
At 23 December 2022 - 44,540 1,768
Charge for year - 2,076 568
At 22 December 2023 - 46,616 2,336
NET BOOK VALUE
At 22 December 2023 19,777 6,226 1,704
At 22 December 2022 19,777 3,052 2,272

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 23 December 2022 - 4,422 75,831
Additions 3,850 - 9,100
At 22 December 2023 3,850 4,422 84,931
DEPRECIATION
At 23 December 2022 - 3,511 49,819
Charge for year 963 455 4,062
At 22 December 2023 963 3,966 53,881
NET BOOK VALUE
At 22 December 2023 2,887 456 31,050
At 22 December 2022 - 911 26,012

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 4,115 7,539
Other debtors 108,329 129,071
112,444 136,610

S.M. AUTO & BODY REPAIRS LTD (REGISTERED NUMBER: 04569054)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 22 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 12,580 312
Taxation and social security 35,874 39,164
Other creditors 74,887 12,539
123,341 52,015

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

9. RESERVES
Retained
earnings
£   

At 23 December 2022 117,259
Profit for the year 95,181
Dividends (39,000 )
At 22 December 2023 173,440

10. POST BALANCE SHEET EVENTS

After the reporting date and prior to the signing off of the financial statements by the director, the company issued a new class of shares 'Ordinary A'. One share was issued and the nominal value of the called up share capital was £1.