L H Bodyworks Ltd 07966214 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is that of maintenance and repairs of motor vehicles. Digita Accounts Production Advanced 6.30.9574.0 true 07966214 2023-03-01 2024-02-29 07966214 2024-02-29 07966214 core:RetainedEarningsAccumulatedLosses 2024-02-29 07966214 core:ShareCapital 2024-02-29 07966214 core:CurrentFinancialInstruments 2024-02-29 07966214 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 07966214 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 07966214 core:MotorVehicles 2024-02-29 07966214 core:PlantMachinery 2024-02-29 07966214 bus:SmallEntities 2023-03-01 2024-02-29 07966214 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 07966214 bus:FullAccounts 2023-03-01 2024-02-29 07966214 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 07966214 bus:RegisteredOffice 2023-03-01 2024-02-29 07966214 bus:Director1 2023-03-01 2024-02-29 07966214 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 07966214 core:MotorVehicles 2023-03-01 2024-02-29 07966214 core:PlantMachinery 2023-03-01 2024-02-29 07966214 countries:EnglandWales 2023-03-01 2024-02-29 07966214 2023-02-28 07966214 core:MotorVehicles 2023-02-28 07966214 core:PlantMachinery 2023-02-28 07966214 2022-03-01 2023-02-28 07966214 2023-02-28 07966214 core:RetainedEarningsAccumulatedLosses 2023-02-28 07966214 core:ShareCapital 2023-02-28 07966214 core:CurrentFinancialInstruments 2023-02-28 07966214 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 07966214 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 07966214 core:MotorVehicles 2023-02-28 07966214 core:PlantMachinery 2023-02-28 iso4217:GBP xbrli:pure

Registration number: 07966214

L H Bodyworks Ltd

Unaudited Financial Statements

for the Year Ended 29 February 2024

 

L H Bodyworks Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

L H Bodyworks Ltd

(Registration number: 07966214)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

14,355

4,524

Current assets

 

Stocks

5

19,008

1,200

Debtors

6

5,551

20,381

Cash at bank and in hand

 

8,194

1,298

 

32,753

22,879

Creditors: Amounts falling due within one year

7

(37,394)

(21,980)

Net current (liabilities)/assets

 

(4,641)

899

Total assets less current liabilities

 

9,714

5,423

Creditors: Amounts falling due after more than one year

7

(3,497)

(4,417)

Provisions for liabilities

(2,728)

(860)

Net assets

 

3,489

146

Capital and reserves

 

Called up share capital

100

100

Retained earnings

3,389

46

Shareholders' funds

 

3,489

146

 

L H Bodyworks Ltd

(Registration number: 07966214)
Balance Sheet as at 29 February 2024

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 August 2024
 

.........................................
Mr Liam Holt
Director

 

L H Bodyworks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Porth House
Uttoxeter Road
Stone
Staffordshire
ST15 8QX

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and services once the work has been completed in full. Turnover is shown net of sales, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

L H Bodyworks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Tax

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

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

L H Bodyworks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 1).

 

L H Bodyworks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2023

24,111

2,500

26,611

Additions

5,862

10,000

15,862

Disposals

(4,000)

(2,500)

(6,500)

At 29 February 2024

25,973

10,000

35,973

Depreciation

At 1 March 2023

20,993

1,094

22,087

Charge for the year

2,125

2,500

4,625

Eliminated on disposal

(4,000)

(1,094)

(5,094)

At 29 February 2024

19,118

2,500

21,618

Carrying amount

At 29 February 2024

6,855

7,500

14,355

At 28 February 2023

3,118

1,406

4,524

5

Stocks

2024
£

2023
£

Work in progress

17,758

-

Other inventories

1,250

1,200

19,008

1,200

6

Debtors

Current

2024
£

2023
£

Trade debtors

5,513

9,988

Other debtors

38

10,393

 

5,551

20,381

 

L H Bodyworks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

3,918

2,081

Trade creditors

 

7,558

4,131

Amounts owed from group undertakings

4,000

4,000

Other creditors

 

21,918

11,768

 

37,394

21,980

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

3,497

4,417