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Registered number: 04454450









BODYTECH VEHICLE REPAIR SPECIALISTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
BODYTECH VEHICLE REPAIR SPECIALISTS LIMITED
REGISTERED NUMBER: 04454450

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
16,553
18,777

  
16,553
18,777

Current assets
  

Stocks
 6 
9,000
15,586

Debtors: amounts falling due within one year
 7 
54,105
68,600

Cash at bank and in hand
 8 
132,341
125,706

  
195,446
209,892

Creditors: amounts falling due within one year
 9 
(123,611)
(120,379)

Net current assets
  
 
 
71,835
 
 
89,513

Total assets less current liabilities
  
88,388
108,290

  

Net assets
  
88,388
108,290


Capital and reserves
  

Called up share capital 
  
110
110

Capital redemption reserve
  
65
65

Profit and loss account
  
88,213
108,115

  
88,388
108,290

Page 1

 
BODYTECH VEHICLE REPAIR SPECIALISTS LIMITED
REGISTERED NUMBER: 04454450
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 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 22 January 2025.




................................................
Shaun Carver
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
BODYTECH VEHICLE REPAIR SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Bodytech Vehicle Repair Specialists Limited is a private company limited by share capital, incorporated in England and Wales. The principal activity of the Company throughout the year was that of vehicle servicing and bodyshop repairs.

2.Accounting policies

 
2.1

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 following principal accounting policies have been applied:

 
2.2

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.

 
2.3

Interest income

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

Page 3

 
BODYTECH VEHICLE REPAIR SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.7

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.

Page 4

 
BODYTECH VEHICLE REPAIR SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
10%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
15%
reducing balance

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.

 
2.8

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 balance sheet 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.

 
2.9

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.

 
2.10

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.

 
2.11

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.
 
2.12

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.

Page 5

 
BODYTECH VEHICLE REPAIR SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 4).


4.


Intangible assets




Goodwill

£



Cost


At 1 July 2023
30,000



At 30 June 2024

30,000



Amortisation


At 1 July 2023
30,000



At 30 June 2024

30,000



Net book value



At 30 June 2024
-



At 30 June 2023
-



Page 6

 
BODYTECH VEHICLE REPAIR SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 July 2023
63,333
3,700
7,117
74,150



At 30 June 2024

63,333
3,700
7,117
74,150



Depreciation


At 1 July 2023
47,325
1,619
6,429
55,373


Charge for the year on owned assets
1,601
520
103
2,224



At 30 June 2024

48,926
2,139
6,532
57,597



Net book value



At 30 June 2024
14,407
1,561
585
16,553



At 30 June 2023
16,008
2,081
688
18,777


6.


Stocks

2024
2023
£
£

Goods for resale
9,000
8,550

Work in progress
-
7,036

9,000
15,586


Page 7

 
BODYTECH VEHICLE REPAIR SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Debtors

2024
2023
£
£


Trade debtors
48,559
62,963

Other debtors
5,546
5,496

Prepayments and accrued income
-
141

54,105
68,600



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
132,341
125,706

132,341
125,706



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
21,611
23,083

Corporation tax
43,277
38,659

Other taxation and social security
13,837
15,909

Other creditors
42,901
40,663

Accruals and deferred income
1,985
2,065

123,611
120,379



10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £426 (2023 - £423). Contributions totalling £Nil (2023 - £90) were payable to the fund at the balance sheet date and are included in creditors.


11.


Controlling party

The Company is controlled by the director, Shaun Carver, by virtue of his shareholding, as described in the directors' report.

Page 8

 
BODYTECH VEHICLE REPAIR SPECIALISTS LIMITED
 
 
 Page 9