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Registered Number: 14687207
England and Wales

 

 

 

REPAIR & CALIBRATION LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 24 February 2023

End date: 29 February 2024
Directors Stuart John Lee
Georgina Lee
Registered Number 14687207
Registered Office Unit 1 Weighbridge Row
Cardiff Road
Reading
Berkshire
RG1 8LX
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 29 February 2024
Principal activities
The companys principal activity during the year was repair of electronic and optical equipment.
Directors
The directors who served the company throughout the period were as follows:
Stuart John Lee (from 24/02/2023)
Georgina Lee (from 24/02/2023)
Jonathan Lee (from 24/02/2023 to 10/03/2023)

This report was approved by the board and signed on its behalf by:


----------------------------------
Stuart John Lee
Director
----------------------------------
Georgina Lee
Director

Date approved: 21 February 2025
2
 
 
Notes
 
2024
£
Fixed assets    
Intangible fixed assets 3 9,145 
Tangible fixed assets 4 64,601 
73,746 
Current assets    
Stocks 5 500 
Debtors 6 114,008 
Cash at bank and in hand 1,577 
116,085 
Creditors: amount falling due within one year 7 (162,066)
Net current assets (45,981)
 
Total assets less current liabilities 27,765 
Creditors: amount falling due after more than one year 8 (18,452)
Provisions for liabilities 9 (9,038)
Net assets 275 
 

Capital and reserves
   
Called up share capital 10 100 
Profit and loss account 175 
Shareholders' funds 275 
 


For the period ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 21 February 2025 and were signed on its behalf by:


-------------------------------
Stuart John Lee
Director
-------------------------------
Georgina Lee
Director
3
General Information
Repair & Calibration Ltd is a private company, limited by shares, registered in England and Wales, registration number 14687207, registration address Unit 1 Weighbridge Row, Cardiff Road, Reading, Berkshire, RG1 8LX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. 
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Computer Equipment 20% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the period was 7.
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 24 February 2023  
Additions 10,000    10,000 
Disposals  
At 29 February 2024 10,000    10,000 
Amortisation
At 24 February 2023  
Charge for period 855    855 
On disposals  
At 29 February 2024 855    855 
Net book values
At 29 February 2024 9,145    9,145 
At 23 February 2023  


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 24 February 2023        
Additions 44,563    25,493    179    2,000    72,235 
Disposals        
At 29 February 2024 44,563    25,493    179    2,000    72,235 
Depreciation
At 24 February 2023        
Charge for period 6,669    601    22    342    7,634 
On disposals        
At 29 February 2024 6,669    601    22    342    7,634 
Net book values
Closing balance as at 29 February 2024 37,894    24,892    157    1,658    64,601 
Opening balance as at 24 February 2023        


5.

Stocks

2024
£
Stocks 500 
500 

6.

Debtors: amounts falling due within one year

2024
£
Trade Debtors 67,891 
Prepayments & Accrued Income 1,914 
Amounts Recoverable on Contracts 9,928 
Directors' Current Accounts 34,275 
114,008 

7.

Creditors: amount falling due within one year

2024
£
Trade Creditors 17,665 
Social Security and Other Tax 67,383 
Accrued Expenses 29,759 
Other Creditors 43,900 
Hire Purchase Agreement - Less than 1 year 3,359 
162,066 

8.

Creditors: amount falling due after more than one year

2024
£
Hire Purchase - 1-2 years 3,601 
Hire Purchase - 2-5 years 14,851 
18,452 

9.

Provisions for liabilities

2024
£
Deferred Tax 9,038 
9,038 

10.

Share Capital

Authorised
100 Ordinary shares of £1.00 each
Allotted, called up and fully paid
2024
£
100 Ordinary shares of £1.00 each 100 
100 

4