Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-312023-08-016falseCar mechanic5falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03966898 2023-08-01 2024-07-31 03966898 2022-08-01 2023-07-31 03966898 2024-07-31 03966898 2023-07-31 03966898 c:Director1 2023-08-01 2024-07-31 03966898 d:Buildings d:LongLeaseholdAssets 2023-08-01 2024-07-31 03966898 d:Buildings d:LongLeaseholdAssets 2024-07-31 03966898 d:Buildings d:LongLeaseholdAssets 2023-07-31 03966898 d:PlantMachinery 2023-08-01 2024-07-31 03966898 d:PlantMachinery 2024-07-31 03966898 d:PlantMachinery 2023-07-31 03966898 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 03966898 d:FurnitureFittings 2023-08-01 2024-07-31 03966898 d:FurnitureFittings 2024-07-31 03966898 d:FurnitureFittings 2023-07-31 03966898 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 03966898 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 03966898 d:Goodwill 2024-07-31 03966898 d:Goodwill 2023-07-31 03966898 d:CurrentFinancialInstruments 2024-07-31 03966898 d:CurrentFinancialInstruments 2023-07-31 03966898 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 03966898 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 03966898 d:ShareCapital 2024-07-31 03966898 d:ShareCapital 2023-07-31 03966898 d:RetainedEarningsAccumulatedLosses 2024-07-31 03966898 d:RetainedEarningsAccumulatedLosses 2023-07-31 03966898 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-07-31 03966898 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-07-31 03966898 c:FRS102 2023-08-01 2024-07-31 03966898 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 03966898 c:FullAccounts 2023-08-01 2024-07-31 03966898 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 03966898 d:WithinOneYear 2024-07-31 03966898 d:WithinOneYear 2023-07-31 03966898 d:BetweenOneFiveYears 2024-07-31 03966898 d:BetweenOneFiveYears 2023-07-31 03966898 2 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 03966898









REVTECH AUTOMOTIVE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

 
REVTECH AUTOMOTIVE LIMITED
REGISTERED NUMBER: 03966898

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
106,814
19,910

  
106,814
19,910

Current assets
  

Stocks
 6 
6,900
1,100

Debtors: amounts falling due within one year
 7 
25,411
9,653

Cash at bank and in hand
 8 
13,599
57,305

  
45,910
68,058

Creditors: amounts falling due within one year
 9 
(129,485)
(35,414)

Net current (liabilities)/assets
  
 
 
(83,575)
 
 
32,644

Total assets less current liabilities
  
23,239
52,554

  

Net assets
  
23,239
52,554


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
23,237
52,552

  
23,239
52,554

Page 1

 
REVTECH AUTOMOTIVE LIMITED
REGISTERED NUMBER: 03966898
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The director considers 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 director acknowledges his 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 income and retained earnings 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 15 April 2025.




................................................
Ian Drayton
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
REVTECH AUTOMOTIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Revtech Automotive Limited is a private company, incorporated in England and Wales, limited by its share capital. The principal activity of the Company was that of motor vehicle servicing and repairs.

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
REVTECH AUTOMOTIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.4

Interest income

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

 
2.5

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

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 balance sheet date in the countries where the Company operates and generates income.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

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.

Page 4

 
REVTECH AUTOMOTIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance and straight line basis.

Depreciation is provided on the following basis:

Long-term leasehold property
-
33%
straight line
Plant and machinery
-
25%
reducing balance
Fixtures and fittings
-
25%
reducing balance

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.

 
2.9

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 outbasis. 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 profit or loss.

 
2.10

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

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.

 
2.12

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

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 ordinary shares.

Page 5

 
REVTECH AUTOMOTIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
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 5 (2023 - 6).


4.


Intangible assets



Goodwill

£



Cost


At 1 August 2023
10,000



At 31 July 2024

10,000



Amortisation


At 1 August 2023
10,000



At 31 July 2024

10,000



Net book value



At 31 July 2024
-



Page 6

 
REVTECH AUTOMOTIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 August 2023
587
151,410
-
151,997


Additions
-
124,284
3,149
127,433


Disposals
(587)
(12,600)
-
(13,187)



At 31 July 2024

-
263,094
3,149
266,243



Depreciation


At 1 August 2023
587
131,500
-
132,087


Charge for the year on owned assets
-
34,818
787
35,605


Disposals
(587)
(7,676)
-
(8,263)



At 31 July 2024

-
158,642
787
159,429



Net book value



At 31 July 2024
-
104,452
2,362
106,814



At 31 July 2023
-
19,910
-
19,910


6.


Stocks

2024
2023
£
£

Finished goods and goods for resale
6,900
1,100

6,900
1,100


Page 7

 
REVTECH AUTOMOTIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

7.


Debtors

2024
2023
£
£


Trade debtors
3,593
4,719

Other debtors
20,830
2,700

Prepayments and accrued income
988
2,234

25,411
9,653



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
13,599
57,305

13,599
57,305



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
86,542
12,758

Corporation tax
-
10,665

Other taxation and social security
8,385
9,708

Other creditors
30,780
622

Accruals and deferred income
3,778
1,661

129,485
35,414



10.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
13,599
57,305




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.

Page 8

 
REVTECH AUTOMOTIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £3,318 (2023 - £3,395). Contributions totalling £790 (2023 - £622) were payable to the fund at the balance sheet date and are included in creditors.


12.


Commitments under operating leases

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

2024
2023
£
£


Not later than 1 year
36,750
-

Later than 1 year and not later than 5 years
137,813
-

174,563
-


13.


Controlling party

The Company is controlled by the director, Ian Drayton, by virtue of his shareholding, as described in the Director's report.
 
Page 9