Caseware UK (AP4) 2024.0.164 2024.0.164 2024-04-302024-04-30true2023-05-01false2No description of principal activity2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07215015 2023-05-01 2024-04-30 07215015 2022-05-01 2023-04-30 07215015 2024-04-30 07215015 2023-04-30 07215015 c:Director2 2023-05-01 2024-04-30 07215015 d:PlantMachinery 2023-05-01 2024-04-30 07215015 d:PlantMachinery 2024-04-30 07215015 d:PlantMachinery 2023-04-30 07215015 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07215015 d:FurnitureFittings 2023-05-01 2024-04-30 07215015 d:FurnitureFittings 2024-04-30 07215015 d:FurnitureFittings 2023-04-30 07215015 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07215015 d:OfficeEquipment 2023-05-01 2024-04-30 07215015 d:OfficeEquipment 2024-04-30 07215015 d:OfficeEquipment 2023-04-30 07215015 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07215015 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07215015 d:CurrentFinancialInstruments 2024-04-30 07215015 d:CurrentFinancialInstruments 2023-04-30 07215015 d:Non-currentFinancialInstruments 2024-04-30 07215015 d:Non-currentFinancialInstruments 2023-04-30 07215015 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 07215015 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 07215015 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 07215015 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 07215015 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 07215015 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 07215015 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 07215015 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 07215015 d:ShareCapital 2024-04-30 07215015 d:ShareCapital 2023-04-30 07215015 d:RetainedEarningsAccumulatedLosses 2024-04-30 07215015 d:RetainedEarningsAccumulatedLosses 2023-04-30 07215015 c:FRS102 2023-05-01 2024-04-30 07215015 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 07215015 c:FullAccounts 2023-05-01 2024-04-30 07215015 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07215015 2 2023-05-01 2024-04-30 07215015 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 07215015










REPAIR TECHNOLOGY LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
REPAIR TECHNOLOGY LTD
REGISTERED NUMBER: 07215015

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
12,557
15,753

  
12,557
15,753

Current assets
  

Stocks
  
59,285
47,245

Debtors: amounts falling due within one year
 5 
69,509
71,370

Cash at bank and in hand
  
123,840
27,811

  
252,634
146,426

Creditors: amounts falling due within one year
 6 
(189,730)
(97,557)

Net current assets
  
 
 
62,904
 
 
48,869

Total assets less current liabilities
  
75,461
64,622

Creditors: amounts falling due after more than one year
 7 
(11,210)
(21,534)

  

Net assets
  
64,251
43,088


Capital and reserves
  

Called up share capital 
  
102
102

Profit and loss account
  
64,149
42,986

  
64,251
43,088


Page 1

 
REPAIR TECHNOLOGY LTD
REGISTERED NUMBER: 07215015
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 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 10 January 2025.




J Barnard
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
REPAIR TECHNOLOGY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.Accounting policies

 
1.1

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The presentational currency of the Company is GBP.

The following principal accounting policies have been applied:

 
1.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
REPAIR TECHNOLOGY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.Accounting policies (continued)

 
1.3

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.

 
1.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
1.5

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
1.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
REPAIR TECHNOLOGY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.Accounting policies (continued)

 
1.7

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.

 
1.8

Borrowing costs

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

 
1.9

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 & machinery
-
33%
Straight Line
Fixtures & fittings
-
20%
Reducing Balance
Office equipment
-
33%
Straight Line

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.

 
1.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
1.11

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.

Page 5

 
REPAIR TECHNOLOGY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.Accounting policies (continued)

 
1.12

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.

 
1.13

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.

 
1.14

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.


2.


General information

Repair Technology Ltd is a private company, limited by shares and incorporated in England.
Its registered number is: 07215015
The address of its Registered office is:
Invision House
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 6

 
REPAIR TECHNOLOGY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Plant & machinery
Fixtures & fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 May 2023
3,333
45,628
11,034
59,995


Additions
-
-
1,208
1,208



At 30 April 2024

3,333
45,628
12,242
61,203



Depreciation


At 1 May 2023
1,611
32,708
9,924
44,243


Charge for the year on owned assets
861
2,584
958
4,403



At 30 April 2024

2,472
35,292
10,882
48,646



Net book value



At 30 April 2024
861
10,336
1,360
12,557



At 30 April 2023
1,722
12,921
1,110
15,753


5.


Debtors

2024
2023
£
£


Trade debtors
46,793
50,077

Other debtors
8,375
8,375

Prepayments and accrued income
14,341
12,918

69,509
71,370


Page 7

 
REPAIR TECHNOLOGY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,248
9,898

Trade creditors
28,439
16,242

Other taxation and social security
41,161
17,041

Other creditors
107,882
52,576

Accruals and deferred income
2,000
1,800

189,730
97,557



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
11,210
21,534

11,210
21,534


Page 8

 
REPAIR TECHNOLOGY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,248
9,898


10,248
9,898

Amounts falling due 1-2 years

Bank loans
10,348
10,348


10,348
10,348

Amounts falling due 2-5 years

Bank loans
862
11,186


862
11,186


21,458
31,432


 
Page 9