Surface Rescue Ltd 10794752 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is that of cosmetic repairer. Digita Accounts Production Advanced 6.30.9574.0 true true 10794752 2023-06-01 2024-05-31 10794752 2024-05-31 10794752 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-05-31 10794752 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-05-31 10794752 core:CurrentFinancialInstruments 2024-05-31 10794752 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 10794752 core:Non-currentFinancialInstruments core:AfterOneYear 2024-05-31 10794752 core:MotorVehicles 2024-05-31 10794752 core:OfficeEquipment 2024-05-31 10794752 core:PlantMachinery 2024-05-31 10794752 bus:SmallEntities 2023-06-01 2024-05-31 10794752 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 10794752 bus:FilletedAccounts 2023-06-01 2024-05-31 10794752 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 10794752 bus:RegisteredOffice 2023-06-01 2024-05-31 10794752 bus:Director1 2023-06-01 2024-05-31 10794752 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10794752 core:ComputerEquipment 2023-06-01 2024-05-31 10794752 core:MotorVehicles 2023-06-01 2024-05-31 10794752 core:OfficeEquipment 2023-06-01 2024-05-31 10794752 core:PlantMachinery 2023-06-01 2024-05-31 10794752 countries:EnglandWales 2023-06-01 2024-05-31 10794752 2023-05-31 10794752 core:MotorVehicles 2023-05-31 10794752 core:OfficeEquipment 2023-05-31 10794752 core:PlantMachinery 2023-05-31 10794752 2022-06-01 2023-05-31 10794752 2023-05-31 10794752 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-05-31 10794752 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-05-31 10794752 core:CurrentFinancialInstruments 2023-05-31 10794752 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 10794752 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 10794752 core:MotorVehicles 2023-05-31 10794752 core:OfficeEquipment 2023-05-31 10794752 core:PlantMachinery 2023-05-31 iso4217:GBP xbrli:pure

Registration number: 10794752

Surface Rescue Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Surface Rescue Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Surface Rescue Ltd

(Registration number: 10794752)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

9,914

12,312

Current assets

 

Debtors

5

65,097

68,790

Cash at bank and in hand

 

6,273

37,857

 

71,370

106,647

Creditors: Amounts falling due within one year

6

(22,322)

(22,841)

Net current assets

 

49,048

83,806

Total assets less current liabilities

 

58,962

96,118

Creditors: Amounts falling due after more than one year

6

(1,212)

(4,122)

Provisions for liabilities

(2,479)

-

Net assets

 

55,271

91,996

Capital and reserves

 

Called up share capital

1

1

Retained earnings

55,270

91,995

Shareholders' funds

 

55,271

91,996

 

Surface Rescue Ltd

(Registration number: 10794752)
Balance Sheet as at 31 May 2024

For the financial year ending 31 May 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 21 January 2025
 

.........................................
Mr Neil Roger Dodd
Director

 

Surface Rescue Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 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:
Hill Haven Cottage
Newtown
Upper Basildon
Berks
RG8 8JG

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the cosmetic repair of goods .Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

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.

 

Surface Rescue Ltd

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

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 basis

Motor vehicles

25% reducing balance basis

Computer equipment

25% straight line basis

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

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. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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 the director) during the year, was 1 (2023 - 1).

 

Surface Rescue Ltd

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

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2023

1,174

1,832

17,664

20,670

Additions

800

-

-

800

At 31 May 2024

1,974

1,832

17,664

21,470

Depreciation

At 1 June 2023

761

1,249

6,348

8,358

Charge for the year

150

219

2,829

3,198

At 31 May 2024

911

1,468

9,177

11,556

Carrying amount

At 31 May 2024

1,063

364

8,487

9,914

At 31 May 2023

413

583

11,316

12,312

5

Debtors

Current

2024
£

2023
£

Trade debtors

12,582

18,601

Prepayments

498

413

Other debtors

52,017

49,776

 

65,097

68,790

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

2,910

2,910

Taxation and social security

 

18,112

18,071

Other creditors

 

1,300

1,860

 

22,322

22,841

 

Surface Rescue Ltd

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

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

1,212

4,122

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

2,910

2,910

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

1,212

4,122