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Registration number: 01269512

Fixit D.I.Y. Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

Pages for filing with Registrar

 

Fixit D.I.Y. Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

Fixit D.I.Y. Limited

Company Information

Directors

E C Rimer

A G Hurst

A D R Hurst

Registered office

County Gates
Ashton Road
Bristol
BS3 2JH

Registered number

01269512

Accountants

Corrigan Accountants Limited
1st Floor
25 King Street
Bristol
BS1 4PB

 

Fixit D.I.Y. Limited

(Registration number: 01269512)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,309,233

1,309,233

Current assets

 

Debtors

5

3,333

-

Cash at bank and in hand

 

59,703

60,249

 

63,036

60,249

Creditors: Amounts falling due within one year

6

(544,600)

(579,385)

Net current liabilities

 

(481,564)

(519,136)

Net assets

 

827,669

790,097

Capital and reserves

 

Called up share capital

500

500

Capital redemption reserve

2,000

2,000

Profit and loss account

825,169

787,597

Total equity

 

827,669

790,097

 

Fixit D.I.Y. Limited

(Registration number: 01269512)
Balance Sheet as at 31 January 2024 (continued)

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 28 October 2024 and signed on its behalf by:
 

A D R Hurst

Director

 

Fixit D.I.Y. Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

Statutory information

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

The address of its registered office is:
County Gates
Ashton Road
Bristol
BS3 2JH

2

Accounting policies

Summary of significant accounting policies

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention. The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The company’s financial statements have been prepared on a going concern basis. The directors have considered a period of twelve months from the date of approval of the financial statements and believe that the company is able to meet liabilities as they fall due.

Revenue recognition

Turnover comprises rents receivable on an accruals basis and are shown net of VAT.

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 corporation 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.

 

Fixit D.I.Y. Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

2

Accounting policies (continued)

Investment property

Investment property is included at fair value. Gains are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

Trade creditors

Trade creditors are recognised initially at the transaction price and subsequently measured at cost using the effective interest method.

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.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Investment properties

2024
£

At 31 January 2022 and 2023

1,309,233

Investment property was acquired during 2020 and the directors have determined that the fair value at the year end is equivalent to the cost of the addition.

 

Fixit D.I.Y. Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

5

Debtors: amounts falling due within one year

2024
£

2023
£

Other debtors

3,333

-

3,333

-

6

Creditors

2024
£

2023
£

Trade creditors

35,276

35,276

Corporation tax

18,110

14,521

Taxation and social security

840

9,623

Accrued expenses

1,410

1,250

Directors' loan accounts

488,964

518,715

544,600

579,385

The director's loan account is interest free and repayable on demand.

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares shares of £1 each

500

500

500

500