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Company Registration No. 08832685 (England and Wales)
Totalfix.it Limited Unaudited accounts for the year ended 31 January 2024
Totalfix.it Limited Unaudited accounts Contents
Page
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Totalfix.it Limited Company Information for the year ended 31 January 2024
Directors
R J Crook T-L Cooper
Company Number
08832685 (England and Wales)
Registered Office
2 Willow Cottage Gay Bowers Road Danbury Chelmsford Essex CM3 4JQ England
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Totalfix.it Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
22,953 
30,593 
Current assets
Inventories
24,000 
22,800 
Debtors
39,956 
9,756 
Cash at bank and in hand
48,085 
100,865 
112,041 
133,421 
Creditors: amounts falling due within one year
(105,047)
(95,410)
Net current assets
6,994 
38,011 
Total assets less current liabilities
29,947 
68,604 
Creditors: amounts falling due after more than one year
(22,467)
(42,064)
Provisions for liabilities
Deferred tax
(6,178)
(7,899)
Net assets
1,302 
18,641 
Capital and reserves
Called up share capital
200 
200 
Profit and loss account
1,102 
18,441 
Shareholders' funds
1,302 
18,641 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 November 2024 and were signed on its behalf by
R J Crook Director Company Registration No. 08832685
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Totalfix.it Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Totalfix.it Limited is a private company, limited by shares, registered in England and Wales, registration number 08832685. The registered office is 2 Willow Cottage, Gay Bowers Road, Danbury, Chelmsford, Essex, CM3 4JQ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% reducing balance
Computer equipment
Straight line over 3 years
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Stock & work in progress
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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Totalfix.it Limited Notes to the Accounts for the year ended 31 January 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 February 2023
53,524 
2,447 
55,971 
At 31 January 2024
53,524 
2,447 
55,971 
Depreciation
At 1 February 2023
23,837 
1,541 
25,378 
Charge for the year
6,858 
782 
7,640 
At 31 January 2024
30,695 
2,323 
33,018 
Net book value
At 31 January 2024
22,829 
124 
22,953 
At 31 January 2023
29,687 
906 
30,593 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
3,069 
8,648 
Accrued income and prepayments
675 
1,108 
Other debtors
36,212 
- 
39,956 
9,756 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
11,789 
20,193 
VAT
5,057 
8,313 
Obligations under finance leases and hire purchase contracts
7,808 
- 
Trade creditors
59,676 
37,218 
Taxes and social security
14,030 
25,046 
Other creditors
5,920 
3,514 
Loans from directors
- 
1,126 
Accruals
767 
- 
105,047 
95,410 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
22,467 
42,064 
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Totalfix.it Limited Notes to the Accounts for the year ended 31 January 2024
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Directors loans
(392)
74,801 
57,160 
17,249 
Directors loans
(734)
72,178 
52,482 
18,962 
(1,126)
146,979 
109,642 
36,211 
Both directors were in receipt of salary and dividends through the year but at the year end had drawn more than they accrued from the salary and dividend due to a short term downturn in profit in the final quarter. However, the excess drawings were cleared within 8 months from the Balance Sheet date.
9
Average number of employees
During the year the average number of employees was 4 (2023: 4).
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