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Registered number: 04023275

Collision Repair Specialists Limited

ACCOUNTS
FOR THE YEAR ENDED 31/10/2024

Prepared By:
Johnston and Co
Accountants
Cherry Trees
DY12 3LE

Collision Repair Specialists Limited

ACCOUNTS
FOR THE YEAR ENDED 31/10/2024
DIRECTORS
Sarah Louise Brooke
SECRETARY
Sarak Louise Brooke
REGISTERED OFFICE
Worcester Road
Kidderminster
Worcestershire
DY10 1JR
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 04023275
ACCOUNTANTS
Johnston and Co
Accountants
Cherry Trees
DY12 3LE

Collision Repair Specialists Limited

ACCOUNTS
FOR THEYEARENDED31/10/2024
CONTENTS
Page
Directors' Report3
Statement Of Comprehensive Income4
Balance Sheet5
Notes To The Accounts6
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account11
Profit And Loss Account Summaries12

Collision Repair Specialists Limited

DIRECTORS' REPORT
FOR THEYEARENDED31/10/2024
The directors present their report and accounts for theyearended31/10/2024
PRINCIPAL ACTIVITY
THe principal acitity of the company throughout the financial year under review was the restoration and repair of damaged automobiles.
DIRECTORS
The directors who served during theyearwere as follows:
Sarah Louise Brooke
STATEMENT OF DIRECTORS RESPONSIBILITIES
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulation.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have 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 directors must not approve the financial statements unless they are 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 directors are 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 directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are 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.
The report of the directors has been prepared in accordance with the special provisions within Part 15 of the Companies Act 2006.
This report was approved by the board on19/03/2025
Sarah Louise Brooke
Director

Collision Repair Specialists Limited

STATEMENT OF COMPREHENSIVE INCOME
FOR THEYEARENDED31/10/2024
Notes20242023
££
TURNOVER1,166,7621,237,521
Cost of sales(801,888)(812,641)
GROSS PROFIT364,874424,880
Administrative expenses(240,413)(208,412)
OPERATING PROFIT124,461216,468
Interest receivable and similar income34,8962,285
PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION129,357218,753
Tax on profit on ordinary activities7(40,647)(48,207)
PROFIT ON ORDINARY ACTIVITIES AFTER TAXATION88,710170,546

Collision Repair Specialists Limited

BALANCE SHEET AT 31/10/2024
20242023
Notes££
FIXED ASSETS
Tangible assets961,82871,673
CURRENT ASSETS
Stock6,13027,802
Debtors11103,208133,816
Cash at bank and in hand427,768314,670
537,106476,288
CREDITORS: Amounts falling due within one year12274,931272,668
NET CURRENT ASSETS262,175203,620
TOTAL ASSETS LESS CURRENT LIABILITIES324,003275,293
NET ASSETS324,003275,293
CAPITAL AND RESERVES
Called up share capital1522
Profit and loss account324,001275,291
SHAREHOLDERS' FUNDS324,003275,293
For the year ending 31/10/2024 the company was entitled to exemption 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.
Approved by the board on 19/03/2025 and signed on their behalf by
.............................
Sarah Louise Brooke
Director

Collision Repair Specialists Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/10/2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machineryreducing balance 15%
Office equipmentreducing balance 15%
Motor Carsreducing balance 25%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
1e. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.

Collision Repair Specialists Limited

1f. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.
2. OTHER OPERATING EXPENSES 20242023
££
Selling and marketing costs1,63120,481
Administrative expenses219,525172,212
Costs relating to the purchase, use, and disposal of assets19,25715,719
240,413208,412
3. INTEREST RECEIVABLE AND OTHER SIMILAR INCOME 20242023
££
Bank interest receivable4,8962,285
4,8962,285
4. EMPLOYEES
20242023
No.No.
Average number of employees99
5. DIRECTORS REMUNERATION
20242023
££
Total remuneration70,38366,567
6. PENSION CONTRIBUTIONS
20242023
££
Pension contributions - director25,00021,250
25,00021,250

Collision Repair Specialists Limited

7. TAX ON ORDINARY ACTIVITIES
20242023
££
Corporation tax35,05049,069
Deferred taxation5,597(862)
40,64748,207
8. DIVIDENDS 20242023
££
Ordinary dividends:
Interim paid40,00070,000
40,00070,000
9. TANGIBLE FIXED ASSETS
PropertyPlant and
ImprovementsMachineryEquipmentMotor CarsTotal
£££££
Cost
At 01/11/20237,15379,6321,696133,543222,024
Additions-312-9,1009,412
At 31/10/20247,15379,9441,696142,643231,436
Depreciation
At 01/11/20237,15365,2721,21876,708150,351
For the year-2,2017216,98419,257
At 31/10/20247,15367,4731,29093,692169,608
Net Book Amounts
At 31/10/2024-12,47140648,95161,828
At 31/10/2023-14,36047856,83571,673
10. STOCK 20242023
££
Stock comprises:
Stock6,13027,802
6,13027,802

Collision Repair Specialists Limited

11. DEBTORS 20242023
££
Amounts falling due within one year
Trade debtors99,775122,377
Prepayments3,4335,842
Deferred taxation-5,597
103,208133,816
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
UK corporation tax35,05049,069
VAT28,59719,716
PAYE control11,8067,725
Directors current account40,00040,000
Credit card14,378-
Trade creditors49,37856,293
Other creditors173-
Pension schemes1,1361,702
Accruals94,41398,163
274,931272,668
13. PROVISIONS FOR LIABILITIES 20242023
££
Deferred taxation-(5,597)
14. DEFERRED TAXATION 20242023
££
Provision at the start of the period5,5974,735
Deferred tax charge in profit and loss account due to:
Deferred taxation(5,597)862
Provision at the end of the period-5,597

Collision Repair Specialists Limited

15. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
2 Ordinary shares of £1 each22
22

Collision Repair Specialists Limited

TRADING AND PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31/10/2024
20242023
££
Turnover1,166,7621,237,521
Cost of Sales:
Stock at 31/10/202327,8027,146
Purchases424,483481,074
Direct employment costs317,742320,528
Other direct expenses37,99131,695
808,018840,443
Stock at 31/10/2024(6,130)(27,802)
801,888812,641
Gross Profit364,874424,880
364,874424,880
Less:
Administrative expenses240,413208,412
Interest receivable and similar income(4,896)(2,285)
235,517206,127
Net profit for the year before taxation129,357218,753
Taxation40,64748,207
Net profit for the year after taxation88,710170,546
Interim dividends40,00070,000
40,00070,000
48,710100,546
Retained profits brought forward275,291174,745
Retained profits carried forward324,001275,291
This page does not form part of the Company's Statutory Accounts and is prepared for the information of the Directors only.

Collision Repair Specialists Limited

PROFIT AND LOSS ACCOUNT SUMMARIES
FOR THE YEAR ENDED 31/10/2024
20242023
££
Cost of sales - purchases:
Purchases424,483481,074
424,483481,074
Cost of sales - employment:
Gross wages239,439239,825
NIC employer22,66818,645
Sub-contract55,63562,058
317,742320,528
Cost of sales - other direct costs:
Protective clothing2,0052,466
Staff pension cost - defined6,2157,054
Sales commission payable29,77122,175
37,99131,695

Collision Repair Specialists Limited

PROFIT AND LOSS ACCOUNT SUMMARIES
FOR THE YEAR ENDED 31/10/2024
20242023
Administrative Expenses:
Bad debts1,63120,481
Rent and rates38,17538,651
Insurance5,2367,569
Waste disposal8,4618,513
Power heat and light42,66017,262
Repairs and renewals4,5345,800
Directors remuneration45,38345,317
Directors NIC4,9663,426
Pension contributions - director25,00021,250
Training and subscriptions18,7954,458
Equipment rental2,8993,087
Leasing Motor vehicles1141,096
Motor expenses 7,7928,059
Accountancy fees2,3752,400
Legal and professional costs8,000-
Printing and stationery271981
Telephone 1,0881,042
Charitable donations697-
Bank charges2,5572,793
Sundry expenses522508
Depreciation and Amortisation:
Depreciation of plant and machinery2,2016,964
Depreciation of equipment72597
Depreciation of motor cars16,9848,158
240,413208,412
This page does not form part of the Company's Statutory Accounts and is prepared for the information of the Directors only.