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REGISTERED NUMBER: 04168367 (England and Wales)












STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

CRASH DAMAGE LIMITED

CRASH DAMAGE LIMITED (REGISTERED NUMBER: 04168367)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2024










Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Statement of Income and Retained Earnings 6

Balance Sheet 7

Notes to the Financial Statements 8


CRASH DAMAGE LIMITED

COMPANY INFORMATION
for the year ended 30 June 2024







DIRECTOR: I J Pugh





REGISTERED OFFICE: Lyndale House Ervington Court
Meridian Business Park
Leicester
LE19 1WL





REGISTERED NUMBER: 04168367 (England and Wales)





AUDITORS: Magma Audit LLP (part of the Dains Group)
Chartered Accountants
Statutory Auditor
Unit 2, Charnwood Edge Business Park
Syston Road
Leicestershire
LE7 4UZ

CRASH DAMAGE LIMITED (REGISTERED NUMBER: 04168367)

STRATEGIC REPORT
for the year ended 30 June 2024


The director presents his strategic report for the year ended 30 June 2024.

REVIEW OF BUSINESS
The company trades ten (10) automotive repair shops under the Fix Auto brand, supporting the strength of the Fix Auto relationships with insurance partners.

PRINCIPAL RISKS AND UNCERTAINTIES
Market risk
The company's main risks derive from the uncertainty in the UK economy that could affect performance in its operations, as well as leading to supply chain and inflationary pressures. In addition, there is a potential impact to staffing resource in the UK market. This has not had a significant impact on the company in the period although there is an increased risk of supply chain disruptions and wider economic disruption that may impact margins in the future.The company has a strong customer base through Fix Auto, reducing its exposure to a temporary downturn in trade.

Staff risk
The company also faces risk in relation to the retention of staff and labour shortages in it's subsidiaries. The company provides a competitive pay structure which is designed to retain staff. The main staff risk stems from retention of workshop staff which is being countered by the company continuing to modify and review terms of conditions of employment relative to the wider market.

Liquidity risk
Liquidity risk arises from the company's management of working capital. It is the risk that the company will encounter difficulty in meeting its financial obligations as they fall due.

The directors have reviewed the cash flow statements of the company. The procurement of parts through an associated company means that the risk of default on external financial obligations is considered very low.

KEY PERFORMANCE INDICATORS
We consider that our key financial performance indicators are those that communicate the financial performance and strength of the company, these being turnover and operating profit.

The company's turnover has increased from £16,188,713 to £21,784,742. Loss before taxation of £661,626 in the prior year has improved to profit before taxation of £559,264.

POST BALANCE SHEET POSITION AND SUBSEQUENT EVENTS
The year started positively, with trading results in the year to date continuing to improve monthly. Operating profit has been positive in the year so far and improvements in turnover and cost management are being worked on constantly.

ON BEHALF OF THE BOARD:





I J Pugh - Director


24 March 2025

CRASH DAMAGE LIMITED (REGISTERED NUMBER: 04168367)

REPORT OF THE DIRECTOR
for the year ended 30 June 2024


The director presents his report with the financial statements of the company for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of maintenance and repair of motor vehicles.

DIVIDENDS
No dividends will be distributed for the year ended 30 June 2024.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTOR
I J Pugh held office during the whole of the period from 1 July 2023 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Magma Audit LLP (part of the Dains Group), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





I J Pugh - Director


24 March 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CRASH DAMAGE LIMITED


Opinion
We have audited the financial statements of Crash Damage Limited (the 'company') for the year ended 30 June 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CRASH DAMAGE LIMITED


Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the company and industry, we identified the principal risks of non-compliance with laws and regulations, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries and management bias in accounting estimates. Audit procedures performed included:

- Enquiries with management for consideration of known or suspected instances of non-compliance with laws and
regulations and fraud.
- Challenging assumptions made by management in their accounting estimates, in particular in relation to the
depreciation of fixed assets and impairment of stock.
- Identifying and testing material journal entries, in particular those journal entries posted with unusual account
combinations, journal entries crediting revenue, journal entries crediting cash and journal entries with specific
defined descriptions.

There are inherent limitations in the audit procedures described above. The more removed non-compliance with laws and regulations is, from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by forgery or intentional misrepresentation, for example, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Luke Turner FCA FCCA (Senior Statutory Auditor)
for and on behalf of Magma Audit LLP (part of the Dains Group)
Chartered Accountants
Statutory Auditor
Unit 2, Charnwood Edge Business Park
Syston Road
Leicestershire
LE7 4UZ

24 March 2025

CRASH DAMAGE LIMITED (REGISTERED NUMBER: 04168367)

STATEMENT OF INCOME AND
RETAINED EARNINGS
for the year ended 30 June 2024

2024 2023
Notes £    £   

TURNOVER 4 21,784,742 16,188,713

Cost of sales (14,126,602 ) (10,778,407 )
GROSS PROFIT 7,658,140 5,410,306

Administrative expenses (6,955,441 ) (6,006,255 )
OPERATING PROFIT/(LOSS) 6 702,699 (595,949 )


Interest payable and similar expenses 7 (143,435 ) (65,677 )
PROFIT/(LOSS) BEFORE TAXATION 559,264 (661,626 )

Tax on profit/(loss) 8 - -
PROFIT/(LOSS) FOR THE FINANCIAL YEAR 559,264 (661,626 )

Retained earnings at beginning of year as
previously reported

(1,685,833

)

(1,775,085

)

Prior year adjustment - corrections of
material errors

-

750,878

RETAINED EARNINGS AT END OF YEAR (1,126,569 ) (1,685,833 )

CRASH DAMAGE LIMITED (REGISTERED NUMBER: 04168367)

BALANCE SHEET
30 June 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 9 108,254 6,893
Tangible assets 10 593,730 529,389
701,984 536,282

CURRENT ASSETS
Stocks 11 689,328 718,160
Debtors 12 2,865,313 2,433,245
Cash at bank 463,566 314,458
4,018,207 3,465,863
CREDITORS
Amounts falling due within one year 13 (4,576,781 ) (4,364,284 )
NET CURRENT LIABILITIES (558,574 ) (898,421 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

143,410

(362,139

)

CREDITORS
Amounts falling due after more than one
year

14

(50,781

)

(104,496

)

PROVISIONS FOR LIABILITIES 17 (7,098 ) (7,098 )
NET ASSETS/(LIABILITIES) 85,531 (473,733 )

CAPITAL AND RESERVES
Called up share capital 18 12,100 12,100
Other reserves 19 1,200,000 1,200,000
Retained earnings 19 (1,126,569 ) (1,685,833 )
SHAREHOLDERS' FUNDS 85,531 (473,733 )

The financial statements were approved by the director and authorised for issue on 24 March 2025 and were signed by:





I J Pugh - Director


CRASH DAMAGE LIMITED (REGISTERED NUMBER: 04168367)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2024


1. STATUTORY INFORMATION

Crash Damage Limited is a private limited company limited by shares, registered in England and Wales. Its registered office address is Lyndale House Ervington Court, Meridian Business Park, Leicester, United Kingdom, LE19 1WL and the registered number is 04168367.

2. 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling (£) and rounded to the nearest £1.

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Going concern
The financial statements have been prepared on a going concern basis. This assumption is reliant upon the continued financial support from its ultimate parent company, Tingo Holdings Ltd & 530714BC Holdings Ltd. They have ensured that they will support Crash Damage Limited financially for a period of at least 1 year.

Turnover
Turnover is measured as 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 the significant risks and rewards of ownership of the goods have passed to the buyer (usually on delivery of the goods), the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Goodwill
Goodwill represents the excess of the cost of the initial acquisition over the net fair value of assets. Goodwill is amortised accordingly to the Profit and Loss over its useful life.

The estimated useful life of the goodwill is deemed to be 10 years.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold Improvements10% and 20% straight line
Plant & Machinery10%, 20%, 33% and 50% straight line
Fixtures & Fittings10% and 20% straight line
Office Equipment20%, 25% and 33% straight line
Motor Vehicles20% straight line

The gain or loss that arises from the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset which then charged or credited to the profit or loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the income statement.

CRASH DAMAGE LIMITED (REGISTERED NUMBER: 04168367)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

(i) Financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

(ii) Financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered
against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have
been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Operating leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.


CRASH DAMAGE LIMITED (REGISTERED NUMBER: 04168367)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


2. ACCOUNTING POLICIES - continued
Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty
The key sources of estimation and uncertainty, which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities, are:

i. Stock and impairments and provisions
Stock is valued at lower of cost and net realisable value. Net realisable value includes, where necessary, provisions for slow moving and obsolete stocks. Calculation of these estimates require judgements to be made, which include forecasting consumer demand, competitive and economic environment and stock loss trends.

The management reviews this on a regular basis. The provision for stock loss is made to ensure the accounts reflect the lowest of net realisable value or cost. The provision comprises of the loss due to ageing of stock. Historic costs are used to calculate the provision.

ii. Useful lives of Tangible fixed assets
Management reviews the useful lives of property, plant and equipment on a regular basis. Any changes in estimates may affect the carrying amounts of the respective property, plant and equipment with a corresponding effect on the related depreciation charge.

iii. Bad Debt Provisioning
An allowance for the bad debts is made when collection of the full amount is no longer probable. The trade receivables balance is assessed at the end of each reporting period whether there is no objective evidence of impairment and recognises a bad debt allowance if such evidence arises.

4. TURNOVER

The turnover and profit (2023 - loss) before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
Repair of vehicles 21,784,742 16,188,713
21,784,742 16,188,713

5. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 6,130,993 4,921,154
Social security costs 613,474 495,248
Other pension costs 121,682 104,567
6,866,149 5,520,969

CRASH DAMAGE LIMITED (REGISTERED NUMBER: 04168367)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


5. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2024 2023

Office Staff 84 75
Workshop Staff 89 77
Directors 1 1
174 153

2024 2023
£    £   
Director's remuneration - -

6. OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) is stated after charging:

2024 2023
£    £   
Hire of plant and machinery 128,264 68,744
Other operating leases 543,090 511,071
Depreciation - owned assets 138,492 152,326
Goodwill amortisation 1,351 -
Auditors' remuneration 34,700 29,500

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 143,435 65,677

8. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 30 June 2024 nor for the year ended 30 June 2023.

9. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023 36,893
Additions 102,712
At 30 June 2024 139,605
AMORTISATION
At 1 July 2023 30,000
Amortisation for year 1,351
At 30 June 2024 31,351
NET BOOK VALUE
At 30 June 2024 108,254
At 30 June 2023 6,893

CRASH DAMAGE LIMITED (REGISTERED NUMBER: 04168367)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


10. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2023 148,467 597,037 34,817
Additions 23,777 91,496 6,590
At 30 June 2024 172,244 688,533 41,407
DEPRECIATION
At 1 July 2023 29,328 291,573 6,054
Charge for year 18,666 80,017 4,184
At 30 June 2024 47,994 371,590 10,238
NET BOOK VALUE
At 30 June 2024 124,250 316,943 31,169
At 30 June 2023 119,139 305,464 28,763

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 41,598 120,306 942,225
Additions 77,780 3,190 202,833
At 30 June 2024 119,378 123,496 1,145,058
DEPRECIATION
At 1 July 2023 18,558 67,323 412,836
Charge for year 4,252 31,373 138,492
At 30 June 2024 22,810 98,696 551,328
NET BOOK VALUE
At 30 June 2024 96,568 24,800 593,730
At 30 June 2023 23,040 52,983 529,389

11. STOCKS
2024 2023
£    £   
Stocks 241,850 207,167
Work-in-progress 447,478 510,993
689,328 718,160

CRASH DAMAGE LIMITED (REGISTERED NUMBER: 04168367)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,911,411 2,220,698
Amounts owed by group undertakings 559,402 2,406
Amounts owed by associated companies - 252
Other debtors 63,240 7,250
Directors' current accounts 100 100
Tax 13,232 12,789
Prepayments and accrued income 317,928 189,750
2,865,313 2,433,245

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 15) 48,882 48,883
Finance leases (see note 16) 7,275 17,354
Trade creditors 613,585 461,305
Amounts owed to group undertakings - 209,587
Amounts owed to associated companies 2,699,293 2,723,322
Social security and other taxes 158,607 135,766
VAT 323,198 318,241
Other creditors 46,089 40,515
Accruals and deferred income 679,852 409,311
4,576,781 4,364,284

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 15) 50,781 96,288
Finance leases (see note 16) - 8,208
50,781 104,496

15. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 48,882 48,883

Amounts falling due between one and two years:
Bank loans - 1-2 years 50,781 96,288

CRASH DAMAGE LIMITED (REGISTERED NUMBER: 04168367)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
2024 2023
£    £   
Net obligations repayable:
Within one year 7,275 17,354
Between one and five years - 8,208
7,275 25,562

Non-cancellable operating leases
2024 2023
£    £   
Within one year 1,071,663 1,001,319
Between one and five years 2,647,389 2,511,805
In more than five years 3,116,458 2,282,708
6,835,510 5,795,832

Operating leases relate to rent payable for buildings in which the separate sites operate from and commercial motor vehicles.

17. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 7,098 7,098

Deferred
tax
£   
Balance at 1 July 2023 7,098
Balance at 30 June 2024 7,098

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
12,100 Ordinary shares 1 12,100 12,100

19. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 July 2023 (1,685,833 ) 1,200,000 (485,833 )
Profit for the year 559,264 559,264
At 30 June 2024 (1,126,569 ) 1,200,000 73,431

Other reserves relates to £1,200,000 that was added as capital contribution by Commuto UK Limited on 30th June 2022.

CRASH DAMAGE LIMITED (REGISTERED NUMBER: 04168367)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


20. PENSION COMMITMENTS

The company operates a defined contribution scheme. The assets of the scheme are held separately from these of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund amounted to £121,682 (2023: £104,567).

21. ULTIMATE PARENT COMPANY

The company is controlled by its parent company Commuto UK Limited. Commuto UK Limited is a company registered in England. The registered office is Lyndale House, Ervington Court, Meridian Business Park, Leicester, LE19 1WL.

22. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
I J Pugh
Balance outstanding at start of year 100 100
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 100 100

23. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year sales of £1,091 (2023: £944) were made to A.K. Bodyshop Limited. At the year end £2,123 (2023: £1,133) was due from A.K. Bodyshop Limited.

During the year sales of £15,371 (2023: £nil) and purchases of £5,604 (2023: £nil) were made to K&R Vehicle solutions Limited. At the year end £ 1,202.60 (2023: £nil) was due from K&R Vehicle solutions Limited.

During the year purchases of £481,372 (2023: £664,553) were made from Eurofixauto UK Limited, a company in which I J Pugh is a director. At the year end £187 (2023: £nil) was due to Eurofixauto UK Limited.

During the year purchases of £6,987,606 (2023: £5,127,907) were made from Advantage Parts Solutions Limited, A company which is under common control. At the year end £2,699,106 (2023: £2,723,322) was due to Advantage Parts Solutions Limited.

24. POST BALANCE SHEET EVENTS

The company entered into an asset purchase agreement to purchase the trade and assets of Stewart Roden Motors for the total amount of £950,000. The sale was effective from 1st September 2024. The transaction was funded through an intercompany loan from the parent company, Commuto UK Limited.

25. ULTIMATE CONTROLLING PARTY

The director considers T Scharnberg and B Kirstiuk to be the company's controlling parties by virtue of their 100% shareholdings in 530714BC Holdings Limited and Tingo Holdings Limited respectively, whom hold 90% of the issued share capital of the parent company.