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Registration number: 12905645

Ezy Fit Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Ezy Fit Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Ezy Fit Ltd

Balance Sheet

as at 30 September 2024

Note

2024
£

(As restated)

2023
£

Fixed assets

 

Tangible assets

4

20,002

9,417

Current assets

 

Stocks

163,446

118,781

Debtors

5

882,653

1,308,870

Cash at bank and in hand

 

1,196,388

244,424

 

2,242,487

1,672,075

Creditors: Amounts falling due within one year

6

(1,412,468)

(1,444,052)

Net current assets

 

830,019

228,023

Net assets

 

850,021

237,440

Capital and reserves

 

Allotted, called up and fully paid share capital

10

10

Profit and loss account

850,011

237,430

Shareholders' funds

 

850,021

237,440

Registration number: 12905645

 

Ezy Fit Ltd

Balance Sheet

as at 30 September 2024 (continued)

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 25 April 2025
 

.........................................
Mr C D Thomas
Director

 

Ezy Fit Ltd

Notes to the Unaudited Financial Statements

for the Year Ended 30 September 2024

1

General information

The company is a private company limited by shares incorporated in England within the United Kingdom.

The company's registration number is 12905645.

The address of its registered office is:
Commer House
Station Road
Tadcaster
North Yorkshire
LS24 9JF

These are the first accounts prepared under FRS 102 1A having previously been prepared under FRS 105. The only adjustment to the comparative year is in respect of deferred tax.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have been transferred to the buyer.

 

Ezy Fit Ltd

Notes to the Unaudited Financial Statements

for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost (or deemed cost), less any accumulated depreciation and accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33 1/3% per annum on a straight line basis

Motor vehicles

25% per annum on a reducing balance basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Defined contribution pension obligation

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions are charged to the profit and loss account.

 

Ezy Fit Ltd

Notes to the Unaudited Financial Statements

for the Year Ended 30 September 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 6 (2023 - 4).

4

Tangible assets

Office equipment
 £

Motor vehicles
 £

Total
£

Cost

At 1 October 2023

321

11,135

11,456

Additions

797

14,070

14,867

At 30 September 2024

1,118

25,205

26,323

Depreciation

At 1 October 2023

67

1,972

2,039

Charge for the year

232

4,050

4,282

At 30 September 2024

299

6,022

6,321

Net book value

At 30 September 2024

819

19,183

20,002

At 30 September 2023

254

9,163

9,417

5

Debtors

Current

2024
£

(As restated)

2023
£

Trade debtors

856,021

1,276,595

Prepayments

25,867

23,448

Other debtors

765

8,827

 

882,653

1,308,870

 

Ezy Fit Ltd

Notes to the Unaudited Financial Statements

for the Year Ended 30 September 2024 (continued)

6

Creditors

2024
£

2023
£

Due within one year

Trade creditors

112,724

11,130

Taxation and social security

11,267

6,724

Corporation tax liability

262,196

61,587

Accruals and deferred income

801,827

1,138,649

Other creditors

223,188

224,696

Director's loan account

1,266

1,266

1,412,468

1,444,052

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £40,587 (2023 - £63,414).

8

Related party transactions

Transactions with the director

2024

At 1 October 2023
£

Advances to directors
£

Repayments by director
£

At 30 September 2024
£

Interest free loan

-

8,734

(8,734)

-

         
       

 

Ezy Fit Ltd

Notes to the Unaudited Financial Statements

for the Year Ended 30 September 2024 (continued)

 

9

Transition to FRS 102

Balance Sheet at 1 October 2022
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Current assets

Stocks

40,631

-

-

40,631

Debtors

58,550

-

-

58,550

Cash at bank and in hand

68,582

-

-

68,582

167,763

-

-

167,763

Creditors: Amounts falling due within one year

(140,439)

-

-

(140,439)

Net assets

27,324

-

-

27,324

Capital and reserves

Called up share capital

10

-

-

10

Profit and loss account

27,314

-

-

27,314

Total equity

27,324

-

-

27,324



 

 

Ezy Fit Ltd

Notes to the Unaudited Financial Statements

for the Year Ended 30 September 2024 (continued)

9

Transition to FRS 102 (continued)

Balance Sheet at 30 September 2023
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Fixed assets

Tangible assets

9,417

-

-

9,417

Current assets

Stocks

118,781

-

-

118,781

Debtors

1,308,608

-

263

1,308,871

Cash at bank and in hand

244,424

-

-

244,424

1,671,813

-

263

1,672,076

Creditors: Amounts falling due within one year

(1,444,053)

-

-

(1,444,053)

Net current assets

227,760

-

263

228,023

Net assets

237,177

-

263

237,440

Capital and reserves

Called up share capital

10

-

-

10

Profit and loss account

237,167

-

263

237,430

Total equity

237,177

-

263

237,440

 

Ezy Fit Ltd

Notes to the Unaudited Financial Statements

for the Year Ended 30 September 2024 (continued)

9

Transition to FRS 102 (continued)

Profit and Loss Account for the year ended 30 September 2023
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Turnover

1,870,498

-

-

1,870,498

Cost of sales

(1,481,998)

-

-

(1,481,998)

Gross profit

388,500

-

-

388,500

Administrative expenses

(162,038)

-

-

(162,038)

Other operating income

51,008

-

-

51,008

Operating profit

277,470

-

-

277,470

Profit before tax

277,470

-

-

277,470

Taxation

(61,617)

-

263

(61,354)

Profit for the financial year

215,853

-

263

216,116