0 0 Repair Supply Ltd SC662068 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is computer media & hardware sales Digita Accounts Production Advanced 6.30.9574.0 true true SC662068 2023-06-01 2024-05-31 SC662068 2024-05-31 SC662068 core:CurrentFinancialInstruments 2024-05-31 SC662068 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 SC662068 bus:SmallEntities 2023-06-01 2024-05-31 SC662068 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 SC662068 bus:FilletedAccounts 2023-06-01 2024-05-31 SC662068 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 SC662068 bus:RegisteredOffice 2023-06-01 2024-05-31 SC662068 bus:Director1 2023-06-01 2024-05-31 SC662068 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 SC662068 countries:Scotland 2023-06-01 2024-05-31 SC662068 2022-06-01 2023-05-31 SC662068 2023-05-31 SC662068 core:CurrentFinancialInstruments 2023-05-31 SC662068 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 xbrli:pure iso4217:GBP

Registration number: SC662068

Repair Supply Ltd

Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Repair Supply Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 3

 

Repair Supply Ltd

(Registration number: SC662068)
Statement of Financial Position as at 31 May 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

595

802

Cash at bank and in hand

 

13,074

880

 

13,669

1,682

Creditors: Amounts falling due within one year

5

(24,158)

(4,627)

Net liabilities

 

(10,489)

(2,945)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(10,490)

(2,946)

Shareholders' deficit

 

(10,489)

(2,945)

For the financial 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.

Director's responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Director acknowledges his responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 25 February 2025
 

.........................................
Mr Nicholas Findlater
Director

 

Repair Supply Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The Company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
16 Union Street
Dundee
DD1 4BH
Scotland

These financial statements were authorised for issue by the director on 25 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling which is the functional currency of the entity.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Repair Supply Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 0 (2023 - 0).

4

Debtors

Current

2024
£

2023
£

Other debtors

595

802

 

595

802

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

912

300

Amounts owed to Group undertakings and undertakings in which the Company has a participating interest

15,000

-

Accruals and deferred income

 

664

328

Other creditors

 

7,582

3,999

 

24,158

4,627