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Registered number: 05735565
Whaley Bridge Accident Repair Centre Limited
Financial Statements
For The Year Ended 31 March 2024
Leathley & Co - Whaley Bridge Office
1 Market Street
Whaley Bridge
High Peak
Derbyshire
SK23 7AA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05735565
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 5,000
Tangible Assets 5 387,922 219,413
387,922 224,413
CURRENT ASSETS
Stocks 6 62,900 42,900
Debtors 7 (136,364 ) 79,900
Cash at bank and in hand 91,283 144,816
17,819 267,616
Creditors: Amounts Falling Due Within One Year 8 (304,714 ) (276,356 )
NET CURRENT ASSETS (LIABILITIES) (286,895 ) (8,740 )
TOTAL ASSETS LESS CURRENT LIABILITIES 101,027 215,673
Creditors: Amounts Falling Due After More Than One Year 9 (94,775 ) (116,703 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,200 ) (3,200 )
NET ASSETS 3,052 95,770
CAPITAL AND RESERVES
Called up share capital 11 200 200
Profit and Loss Account 2,852 95,570
SHAREHOLDERS' FUNDS 3,052 95,770
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Philip Chopping
Director
23/12/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Whaley Bridge Accident Repair Centre Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05735565 . The registered office is Border Cottage, 36 Pexhill Road, Macclesfield, SK11 9QA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are the website and application development. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 33.33% reducing balance
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 3
Page 4
2.7. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 14)
14 14
4. Intangible Assets
Other
£
Cost
As at 1 April 2023 55,000
As at 31 March 2024 55,000
Amortisation
As at 1 April 2023 50,000
Provided during the period 5,000
As at 31 March 2024 55,000
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 5,000
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2023 29,822 166,780 440,638 6,053
Additions - 7,989 281,815 6,363
As at 31 March 2024 29,822 174,769 722,453 12,416
Depreciation
As at 1 April 2023 29,699 145,993 244,041 5,259
Provided during the period 41 7,194 119,603 1,789
As at 31 March 2024 29,740 153,187 363,644 7,048
Net Book Value
As at 31 March 2024 82 21,582 358,809 5,368
As at 1 April 2023 123 20,787 196,597 794
Page 4
Page 5
Computer Equipment Total
£ £
Cost
As at 1 April 2023 3,749 647,042
Additions 1,663 297,830
As at 31 March 2024 5,412 944,872
Depreciation
As at 1 April 2023 2,637 427,629
Provided during the period 694 129,321
As at 31 March 2024 3,331 556,950
Net Book Value
As at 31 March 2024 2,081 387,922
As at 1 April 2023 1,112 219,413
6. Stocks
2024 2023
£ £
Stock 62,900 42,900
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors (208,742 ) 37,387
Deposits 22,456 22,456
Director's loan account 49,922 20,057
(136,364 ) 79,900
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 36,234 13,738
Trade creditors 141,000 209,779
Bank loans and overdrafts (110 ) 15,400
Corporation tax (79 ) 9,701
Other taxes and social security 12,304 7,971
VAT 59,967 19,767
RBS Credit Card 937 -
Other creditors (3) 37,992 -
Other creditors (4) 16,469 -
304,714 276,356
Page 5
Page 6
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 61,408 83,336
Bank loans 33,367 33,367
94,775 116,703
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 36,234 13,738
Later than one year and not later than five years 61,408 83,336
97,642 97,074
97,642 97,074
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
Page 6