Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-314277The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activitytrue2024-01-01false36false42 12944332 2024-01-01 2024-12-31 12944332 2023-01-01 2023-12-31 12944332 2024-12-31 12944332 2023-12-31 12944332 2023-01-01 12944332 c:Director1 2024-01-01 2024-12-31 12944332 c:Director2 2024-01-01 2024-12-31 12944332 c:RegisteredOffice 2024-01-01 2024-12-31 12944332 c:Agent1 2024-01-01 2024-12-31 12944332 d:Buildings d:LongLeaseholdAssets 2024-01-01 2024-12-31 12944332 d:Buildings d:LongLeaseholdAssets 2024-12-31 12944332 d:Buildings d:LongLeaseholdAssets 2023-12-31 12944332 d:PlantMachinery 2024-01-01 2024-12-31 12944332 d:PlantMachinery 2024-12-31 12944332 d:PlantMachinery 2023-12-31 12944332 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 12944332 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 12944332 d:MotorVehicles 2024-01-01 2024-12-31 12944332 d:MotorVehicles 2024-12-31 12944332 d:MotorVehicles 2023-12-31 12944332 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 12944332 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 12944332 d:OfficeEquipment 2024-01-01 2024-12-31 12944332 d:OfficeEquipment 2024-12-31 12944332 d:OfficeEquipment 2023-12-31 12944332 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 12944332 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 12944332 d:ComputerEquipment 2024-01-01 2024-12-31 12944332 d:ComputerEquipment 2024-12-31 12944332 d:ComputerEquipment 2023-12-31 12944332 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 12944332 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 12944332 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 12944332 d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 12944332 d:CurrentFinancialInstruments 2024-12-31 12944332 d:CurrentFinancialInstruments 2023-12-31 12944332 d:Non-currentFinancialInstruments 2024-12-31 12944332 d:Non-currentFinancialInstruments 2023-12-31 12944332 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 12944332 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12944332 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 12944332 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 12944332 d:ShareCapital 2024-12-31 12944332 d:ShareCapital 2023-12-31 12944332 d:ShareCapital 2023-01-01 12944332 d:RevaluationReserve 2024-01-01 2024-12-31 12944332 d:RevaluationReserve 2024-12-31 12944332 d:RevaluationReserve 2023-01-01 2023-12-31 12944332 d:RevaluationReserve 2023-12-31 12944332 d:RevaluationReserve 2023-01-01 12944332 d:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 12944332 d:RetainedEarningsAccumulatedLosses 2024-12-31 12944332 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 12944332 d:RetainedEarningsAccumulatedLosses 2023-12-31 12944332 d:RetainedEarningsAccumulatedLosses 2023-01-01 12944332 d:TaxLossesCarry-forwardsDeferredTax 2024-12-31 12944332 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 12944332 d:RetirementBenefitObligationsDeferredTax 2024-12-31 12944332 d:RetirementBenefitObligationsDeferredTax 2023-12-31 12944332 c:FRS102 2024-01-01 2024-12-31 12944332 c:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 12944332 c:FullAccounts 2024-01-01 2024-12-31 12944332 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 12944332 d:WithinOneYear 2024-12-31 12944332 d:WithinOneYear 2023-12-31 12944332 d:BetweenOneFiveYears 2024-12-31 12944332 d:BetweenOneFiveYears 2023-12-31 12944332 d:MoreThanFiveYears 2024-12-31 12944332 d:MoreThanFiveYears 2023-12-31 12944332 2 2024-01-01 2024-12-31 12944332 5 2024-01-01 2024-12-31 12944332 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-12-31 12944332 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 12944332









HB ACCIDENT REPAIR NETWORK LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
HB ACCIDENT REPAIR NETWORK LTD
 
 
COMPANY INFORMATION


Directors
N G Orr 
T K Howard 




Registered number
12944332



Registered office
349 Moorside Road

Swinton

Manchester

M27 9HH




Accountants
Grant Thornton UK LLP
Chartered Accountants

Royal Liver Building

Liverpool

L3 1PS




Bankers
Barclays
Leicester

Leicestershire

LE87 2BB







 
HB ACCIDENT REPAIR NETWORK LTD
 

CONTENTS



Page
Accountant's report
1
Statement of Financial Position
2 - 3
Statement of Changes in Equity
4
Notes to the financial statements
5 - 13


  
  img5d1c.png
Report to the directors on the preparation of the unaudited statutory financial statements of HB Accident Repair Network Ltd for the year ended 31 December 2024 

We have compiled the accompanying financial statements of HB Accident Repair Network Ltd (the ‘company’)  based on the information you have provided. These financial statements comprise the Statement of Financial Position of HB Accident Repair Network Ltd as at 31 December 2024, the Statement of Changes in Equity for the  year then ended, and a summary of significant accounting policies and other explanatory information. 

We performed this compilation engagement in accordance with International Standard on Related Services 4410 (Revised), 'Compilation Engagements'.

We have applied our expertise in accounting and financial reporting to assist you in the preparation and presentation of these financial statements in accordance with applicable law and United Kingdom Accounting Standardsincluding Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). As a member firm of the Institute of Chartered Accountants in England and Waleswe are subject to its ethical and other professional requirements which are detailed at www.icaew.com.

These financial statements and the accuracy and completeness of the information used to compile them are your responsibility.

Since a compilation engagement is not an assurance engagement, we are not required to verify the accuracy or completeness of the information you provided to us to compile these financial statements. Accordingly, we do not express an audit opinion or a review conclusion on whether these financial statements are prepared in accordance with United Kingdom Generally Accepted Accounting Practice.

This report is made solely to the Company's directors, as a body,  in accordance with the terms of our engagement letter dated 15 January 2025Our work has been undertaken solely to prepare for your approval the financial statements of the company and state those matters that we have agreed to state to the Company's directors, as a body,  in this report in accordance with our engagement letter dated 15 January 2025. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its directors, as a body,  for our work or for this report.




Grant Thornton UK LLP
 
Chartered Accountants
  
Liverpool

25 March 2025
Page 1

 
HB ACCIDENT REPAIR NETWORK LTD
REGISTERED NUMBER: 12944332

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
491,576
192,005

 
Current assets
  

Stocks
 5 
199,529
97,873

Debtors: amounts falling due within one year
 6 
788,368
509,077

Cash at bank and in hand
  
889,259
376,685

  
1,877,156
983,635

Creditors: amounts falling due within one year
 7 
(1,294,395)
(737,786)

Net current assets
  
 
 
582,761
 
 
245,849

Total assets less current liabilities
  
1,074,337
437,854

Creditors: amounts falling due after more than one year
 8 
(545,748)
(148,444)

Provisions for liabilities
  

Deferred tax
 9 
(93,134)
(34,447)

  
 
 
(93,134)
 
 
(34,447)

Net assets
  
435,455
254,963


Capital and reserves
  

Called up share capital 
  
930
930

Revaluation reserve
  
65,518
79,121

Profit and loss account
  
369,007
174,912

  
435,455
254,963


Page 2

 
HB ACCIDENT REPAIR NETWORK LTD
REGISTERED NUMBER: 12944332
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 March 2025.




N G Orr
Director

The notes on pages 5 to 13 form part of these financial statements.

Page 3

 
HB ACCIDENT REPAIR NETWORK LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 January 2023
930
90,291
(44,338)
46,883


Comprehensive income for the year

Profit for the year
-
-
333,280
333,280


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(125,200)
(125,200)

Transfer to/from profit and loss account
-
(11,170)
11,170
-



At 1 January 2024
930
79,121
174,912
254,963


Comprehensive income for the year

Profit for the year
-
-
362,392
362,392


Contributions by and distributions to owners

Dividends paid
-
-
(181,900)
(181,900)

Transfer to/from profit and loss account
-
(13,603)
13,603
-


At 31 December 2024
930
65,518
369,007
435,455


The notes on pages 5 to 13 form part of these financial statements.

Page 4

 
HB ACCIDENT REPAIR NETWORK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

The company is a private company limited by shares and is registered in England and Wales.
Registered Number: 12944332.
Registered office: 349 Moorside Road, Swinton, Manchester, M27 9HH.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of services supplied during the year, exclusive of Value Added Tax. Turnover is generated by repairing damaged motor vehicles, through contracts with insurance companies. Turnover is recognised when the obligation to repair a vehicle has been fulfilled.

 
2.3

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

Page 5

 
HB ACCIDENT REPAIR NETWORK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 6

 
HB ACCIDENT REPAIR NETWORK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold property improvements
-
3 - 10 years
Workshop equipment
-
3 - 10 years
Motor vehicles
-
5 years
Office equipment
-
5 years
Computer equipment
-
3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Revaluation of tangible fixed assets

Individual freehold and leasehold properties and workshop equipment are carried at current year value at fair value less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the 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 include labour and attributable overheads.

At each reporting 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 profit or loss.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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.

Page 7

 
HB ACCIDENT REPAIR NETWORK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Page 8

 
HB ACCIDENT REPAIR NETWORK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.13
Financial instruments (continued)

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 42 (2023: 36).

Page 9

 
HB ACCIDENT REPAIR NETWORK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Leasehold property improvements
Workshop equipment
Motor vehicles
Office equipment
Computer equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 January 2024
23,994
209,084
23,410
616
15,024
272,128


Additions
166,706
120,234
40,215
3,800
13,113
344,068


Disposals
-
(4,000)
-
-
-
(4,000)



At 31 December 2024

190,700
325,318
63,625
4,416
28,137
612,196



Depreciation


At 1 January 2024
7,039
50,185
10,432
308
12,159
80,123


Charge for the year on owned assets
4,277
24,630
-
247
6,259
35,413


Charge for the year on financed assets
-
-
6,284
-
-
6,284


Disposals
-
(1,200)
-
-
-
(1,200)



At 31 December 2024

11,316
73,615
16,716
555
18,418
120,620



Net book value



At 31 December 2024
179,384
251,703
46,909
3,861
9,719
491,576



At 31 December 2023
16,955
158,899
12,978
308
2,865
192,005


If the workshop equipment had been carried under the historical cost model, the carrying amount of that equipment would be £186,185 (2023: £79,778).



The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
46,909
12,978

Page 10

 
HB ACCIDENT REPAIR NETWORK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Stocks

2024
2023
£
£

Work in progress
199,529
97,873



6.


Debtors

2024
2023
£
£


Trade debtors
543,408
405,881

Amounts owed by related parties
-
11,614

Other debtors
102,610
36,351

Prepayments and accrued income
142,350
55,231

788,368
509,077



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
522,531
282,360

Amounts owed to related parties
49,391
-

Corporation tax
63,440
91,452

Other taxation and social security
210,982
153,567

Obligations under finance lease and hire purchase contracts
15,011
4,895

Other creditors
70,616
46,676

Accruals and deferred income
362,424
158,836

1,294,395
737,786


The hire purchase loans are secured on the assets to which they relate.

Page 11

 
HB ACCIDENT REPAIR NETWORK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
21,085
4,308

Other creditors
4,899
17,086

Accruals and deferred income
519,764
127,050

545,748
148,444


The hire purchase loans are secured on the assets to which they relate.


9.


Deferred taxation




2024


£






At beginning of year
(34,447)


Charged to profit or loss
(58,687)



At end of year
(93,134)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fixed asset timing differences
(94,013)
(35,087)

Short term timing differences
879
640

(93,134)
(34,447)


10.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. At 31 December 2024, pension contributions included within other creditors amounted to £3,515 (2023: £2,562).

Page 12

 
HB ACCIDENT REPAIR NETWORK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
Restated 2023
£
£


Not later than 1 year
432,289
225,936

Later than 1 year and not later than 5 years
1,133,494
182,639

Later than 5 years
125,000
-

1,690,783
408,575

The prior year’s operating lease commitment figures have been restated to include courtesy cars.

 
Page 13