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REGISTERED NUMBER: 03179387 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Smart Repair Supplies Limited

Smart Repair Supplies Limited (Registered number: 03179387)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Smart Repair Supplies Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr P R Nunn
Mrs H Nunn





SECRETARY: Mrs H Nunn





REGISTERED OFFICE: Pinnacle House
1 Pinnacle Way
Derby
Derbyshire
DE24 8ZS





REGISTERED NUMBER: 03179387 (England and Wales)





ACCOUNTANTS: Underwood Green
Pinnacle House
1 Pinnacle Way
Derby
Derbyshire
DE24 8ZS

Smart Repair Supplies Limited (Registered number: 03179387)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,381 8,977

CURRENT ASSETS
Debtors 5 230,052 152,000
Cash at bank 6,478 58,974
236,530 210,974
CREDITORS
Amounts falling due within one year 6 55,928 60,055
NET CURRENT ASSETS 180,602 150,919
TOTAL ASSETS LESS CURRENT
LIABILITIES

183,983

159,896

PROVISIONS FOR LIABILITIES 745 1,613
NET ASSETS 183,238 158,283

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 183,138 158,183
SHAREHOLDERS' FUNDS 183,238 158,283

Smart Repair Supplies Limited (Registered number: 03179387)

Balance Sheet - continued
31 December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 25 September 2024 and were signed on its behalf by:





Mrs H Nunn - Director


Smart Repair Supplies Limited (Registered number: 03179387)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Smart Repair Supplies 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.

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 - 20% on cost
Motor vehicles - 25% on cost
Office equipment - 20% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Smart Repair Supplies Limited (Registered number: 03179387)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor Office
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 13,948 26,550 13,388 53,886
DEPRECIATION
At 1 January 2023 12,594 21,750 10,565 44,909
Charge for year 1,351 2,400 1,845 5,596
At 31 December 2023 13,945 24,150 12,410 50,505
NET BOOK VALUE
At 31 December 2023 3 2,400 978 3,381
At 31 December 2022 1,354 4,800 2,823 8,977

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 810 2,497
Other debtors 108,321 107,621
Directors' current accounts 120,921 41,882
230,052 152,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 21,608 21,223
Tax 19,516 23,449
VAT 12,024 12,733
Accruals and deferred income 2,780 2,650
55,928 60,055

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

Smart Repair Supplies Limited (Registered number: 03179387)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr P R Nunn and Mrs H Nunn
Balance outstanding at start of year 41,882 118,480
Amounts advanced 121,351 41,902
Amounts repaid (42,312 ) (118,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 120,921 41,882

The director's loan account was repaid within nine months of the year end.

Interest was charged on the overdrawn director's loan account at HM Revenue & Customs official rate of interest during the year being 2.00% until 5th April 2023 and 2.25% thereafter.