Company Registration No. 05827586 (England and Wales)
Select Vehicle Repairs Limited
Unaudited accounts
for the year ended 31 May 2024
Select Vehicle Repairs Limited
Unaudited accounts
Contents
Select Vehicle Repairs Limited
Company Information
for the year ended 31 May 2024
Directors
Darren Paul Slater
Dawn Margaret Slater
Secretary
Dawn Margaret Slater
Company Number
05827586 (England and Wales)
Registered Office
Unit 1, Hobson Street
Burslem
Stoke-on-Trent
Staffordshire
ST6 2AW
England
Accountants
James Accountancy Services Ltd
3 Waterloo Grove
Kidsgrove
Stoke-on-Trent
Staffordshire
ST7 4SY
Select Vehicle Repairs Limited
Statement of financial position
as at 31 May 2024
Tangible assets
3,840
4,430
Cash at bank and in hand
7,970
5,852
Creditors: amounts falling due within one year
(11,972)
(10,662)
Net current assets/(liabilities)
101
(186)
Total assets less current liabilities
3,941
4,244
Creditors: amounts falling due after more than one year
(2,403)
(4,393)
Provisions for liabilities
Net assets/(liabilities)
808
(991)
Called up share capital
2
2
Profit and loss account
806
(993)
Shareholders' funds
808
(991)
For the 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. 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 27 February 2025 and were signed on its behalf by
Dawn Margaret Slater
Director
Company Registration No. 05827586
Select Vehicle Repairs Limited
Notes to the Accounts
for the year ended 31 May 2024
Select Vehicle Repairs Limited is a private company, limited by shares, registered in England and Wales, registration number 05827586. The registered office is Unit 1, Hobson Street, Burslem, Stoke-on-Trent, Staffordshire, ST6 2AW, 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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance method.
Motor vehicles
20% reducing balance method.
Computer equipment
20% reducing balance method.
Stocks and work-in-progress 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 expenditure and an appropriate proportion of fixed and variable overheads.
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 is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Select Vehicle Repairs Limited
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2023
8,801
8,750
3,875
21,426
At 31 May 2024
8,801
8,750
4,075
21,626
At 1 June 2023
6,461
8,450
2,085
16,996
Charge for the year
500
-
419
919
On disposals
-
-
(129)
(129)
At 31 May 2024
6,961
8,450
2,375
17,786
At 31 May 2024
1,840
300
1,700
3,840
At 31 May 2023
2,340
300
1,790
4,430
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
1,599
1,599
Trade creditors
6,561
4,704
Taxes and social security
471
-
Loans from directors
1,110
2,577
7
Creditors: amounts falling due after more than one year
2024
2023
Select Vehicle Repairs Limited
Notes to the Accounts
for the year ended 31 May 2024
8
Deferred taxation
2024
2023
Accelerated capital allowances
730
842
Provision at start of year
842
1,073
Credited to the profit and loss account
(112)
(231)
Provision at end of year
730
842
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).