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Swindon Car Body Repair Limited

Registered Number
07903973
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

Swindon Car Body Repair Limited
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

C M Merritt
P V Merritt

Registered Address

Smart Car Uk 1-4 Newcombe Drive
Hawksworth Trading Estate
Swindon
SN2 1DZ

Registered Number

07903973 (England and Wales)
Swindon Car Body Repair Limited
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3236,302266,803
Investments415,386-
251,688266,803
Current assets
Stocks5265,289276,091
Debtors141,026108,142
Cash at bank and on hand233,787378,504
640,102762,737
Creditors amounts falling due within one year6(490,069)(486,323)
Net current assets (liabilities)150,033276,414
Total assets less current liabilities401,721543,217
Creditors amounts falling due after one year7(109,208)(151,830)
Provisions for liabilities8(6,236)(6,236)
Net assets286,277385,151
Capital and reserves
Called up share capital100100
Other reserves(259,500)(170,014)
Profit and loss account545,677555,065
Shareholders' funds286,277385,151
The financial statements were approved and authorised for issue by the Board of Directors on 28 February 2025, and are signed on its behalf by:
P V Merritt
Director
Registered Company No. 07903973
Swindon Car Body Repair Limited
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year1919
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 January 2489,752229,9358,12813,710341,525
Additions12,9534,2422,8821,73821,815
Disposals-(2,500)--(2,500)
At 31 December 24102,705231,67711,01015,448360,840
Depreciation and impairment
At 01 January 2437,12524,6471,21911,73174,722
Charge for year6,35141,1131,9141,44550,823
On disposals-(1,007)--(1,007)
At 31 December 2443,47664,7533,13313,176124,538
Net book value
At 31 December 2459,229166,9247,8772,272236,302
At 31 December 2352,627205,2886,9091,979266,803
4.Fixed asset investments

Other investments1

Total

££
Cost or valuation
Additions15,38615,386
At 31 December 2415,38615,386
Net book value
At 31 December 2415,38615,386
At 31 December 23--

Notes

1Other investments other than loans
5.Stocks

2024

2023

££
Work in progress215,289226,091
Finished goods50,00050,000
Total265,289276,091
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables200,739135,952
Bank borrowings and overdrafts13,012-
Taxation and social security143,311191,551
Finance lease and HP contracts130,461156,360
Other creditors2,5462,460
Total490,069486,323
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts109,208151,830
Total109,208151,830
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)6,2366,236
Total6,2366,236