Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31No description of principal activitytruefalsefalse2023-04-0188The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07163865 2023-04-01 2024-03-31 07163865 2022-04-01 2023-03-31 07163865 2024-03-31 07163865 2023-03-31 07163865 c:Director1 2023-04-01 2024-03-31 07163865 d:PlantMachinery 2023-04-01 2024-03-31 07163865 d:PlantMachinery 2024-03-31 07163865 d:PlantMachinery 2023-03-31 07163865 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07163865 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 07163865 d:MotorVehicles 2023-04-01 2024-03-31 07163865 d:MotorVehicles 2024-03-31 07163865 d:MotorVehicles 2023-03-31 07163865 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07163865 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 07163865 d:ComputerEquipment 2023-04-01 2024-03-31 07163865 d:ComputerEquipment 2024-03-31 07163865 d:ComputerEquipment 2023-03-31 07163865 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07163865 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 07163865 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 07163865 d:OtherPropertyPlantEquipment 2024-03-31 07163865 d:OtherPropertyPlantEquipment 2023-03-31 07163865 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07163865 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 07163865 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07163865 d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 07163865 d:CurrentFinancialInstruments 2024-03-31 07163865 d:CurrentFinancialInstruments 2023-03-31 07163865 d:Non-currentFinancialInstruments 2024-03-31 07163865 d:Non-currentFinancialInstruments 2023-03-31 07163865 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 07163865 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07163865 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 07163865 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07163865 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 07163865 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 07163865 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 07163865 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 07163865 d:ShareCapital 2024-03-31 07163865 d:ShareCapital 2023-03-31 07163865 d:RetainedEarningsAccumulatedLosses 2024-03-31 07163865 d:RetainedEarningsAccumulatedLosses 2023-03-31 07163865 c:FRS102 2023-04-01 2024-03-31 07163865 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07163865 c:FullAccounts 2023-04-01 2024-03-31 07163865 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07163865 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 07163865 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 07163865 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 07163865






C & R REPAIRS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
 












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C & R REPAIRS LIMITED
REGISTERED NUMBER:07163865

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
155,549
106,970

  
155,549
106,970

Current assets
  

Debtors: amounts falling due after more than one year
 5 
3,740
3,740

Debtors: amounts falling due within one year
 5 
71,577
33,603

Cash at bank and in hand
  
17,134
4,496

  
92,451
41,839

Creditors: amounts falling due within one year
 6 
(163,197)
(107,315)

Net current liabilities
  
 
 
(70,746)
 
 
(65,476)

Total assets less current liabilities
  
84,803
41,494

Creditors: amounts falling due after more than one year
  
(46,018)
(30,316)

Provisions for liabilities
  

Deferred tax
  
(38,572)
-

  
 
 
(38,572)
 
 
-

Net assets
  
213
11,178


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
211
11,176

  
213
11,178


Page 1

 
C & R REPAIRS LIMITED
REGISTERED NUMBER:07163865
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 September 2024.




C Banks
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
C & R REPAIRS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

C & R Repairs Limited is a private company, limited by shares, domiciled in England. The registered office is Unit 1 Thorverton Mill, Thorverton, Exeter, Devon, EX5 5LX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors confirm that, having considered their expectations and intentions for the next twelve months, and the availability of working capital, the company is a going concern.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
C & R REPAIRS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
C & R REPAIRS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following methods.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
straight line
Motor vehicles
-
20%
reducing balance
Computer equipment
-
33%
straight line
Other fixed assets
-
10%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
C & R REPAIRS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 6

 
C & R REPAIRS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 8).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Computer equipment
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
167,633
47,166
110
63,165
278,074


Additions
78,055
41,846
-
-
119,901


Disposals
-
-
-
(63,165)
(63,165)



At 31 March 2024

245,688
89,012
110
-
334,810



Depreciation


At 1 April 2023
139,916
20,338
110
10,740
171,104


Charge for the year on owned assets
9,161
5,341
-
-
14,502


Charge for the year on financed assets
1,580
2,815
-
-
4,395


Disposals
-
-
-
(10,740)
(10,740)



At 31 March 2024

150,657
28,494
110
-
179,261



Net book value



At 31 March 2024
95,031
60,518
-
-
155,549



At 31 March 2023
27,717
26,828
-
52,425
106,970

The net book value of assets held under hire purchase contracts is £43,797(2023 £6,320).

Page 7

 
C & R REPAIRS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
3,740
3,740

3,740
3,740


2024
2023
£
£

Due within one year

Trade debtors
4,139
7,778

Other debtors
62,554
25,825

Prepayments and accrued income
4,884
-

71,577
33,603


Page 8

 
C & R REPAIRS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
8,670

Bank loans
10,183
9,932

Trade creditors
132,479
41,309

Corporation tax
5,225
8,624

Other taxation and social security
6
10,007

Obligations under finance lease and hire purchase contracts
10,676
1,532

Other creditors
4,628
27,241

163,197
107,315


The following liabilities were secured:

2024
2023
£
£



Net obligations under finance leases and hire purchase contracts
10,676
1,532

10,676
1,532

Details of security provided:

Bank loans are secured on the property of the company. Hire purchase contracts are secured on the equipment and vehicles hired by the company.

Page 9

 
C & R REPAIRS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,183
9,932


10,183
9,932

Amounts falling due 1-2 years

Bank loans
10,440
10,183


10,440
10,183

Amounts falling due 2-5 years

Bank loans
2,651
13,090


2,651
13,090


23,274
33,205


Page 10

 
C & R REPAIRS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Deferred taxation




2024


£






Charged to profit or loss
(38,572)



At end of year
(38,572)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(38,572)
-

(38,572)
-


9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £4,236 (2023 - £4,049) . Contributions totalling £450 (2023 - £558) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 11