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Registration number: 07343322

Scuffs (UK) Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 August 2024

 

Scuffs (UK) Limited

Contents

Company Information

1

Directors' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Scuffs (UK) Limited

Company Information

Directors

Ms Natasha Katie Dos Santos

Mr Jack Richard James

Registered office

Unit M6
Frome Business Park
Manor Road
Frome
Somerset
BA11 4FN

Accountants

Delphi Accounting Ltd
Chartered Tax Advisor
Unit M6
Frome Business Park
Manor Road
Frome
Somerset
BA11 4FN

 

Scuffs (UK) Limited

Directors' Report for the Year Ended 29 August 2024

The directors present their report and the financial statements for the year ended 29 August 2024.

Directors of the company

The directors who held office during the year were as follows:

Ms Natasha Katie Dos Santos

Mr Jack Richard James

Principal activity

The principal activity of the company is car repairs and MOT's.

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 27 May 2025 and signed on its behalf by:
 

.........................................
Ms Natasha Katie Dos Santos
Director

 

Scuffs (UK) Limited

(Registration number: 07343322)
Balance Sheet as at 29 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

148,796

100,984

Current assets

 

Stocks

5

68,865

85,960

Debtors

6

230,451

244,461

Cash at bank and in hand

 

6,447

80,540

 

305,763

410,961

Creditors: Amounts falling due within one year

7

(357,222)

(495,110)

Net current liabilities

 

(51,459)

(84,149)

Total assets less current liabilities

 

97,337

16,835

Creditors: Amounts falling due after more than one year

7

(49,113)

(41,618)

Provisions for liabilities

(34,493)

(16,838)

Net assets/(liabilities)

 

13,731

(41,621)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

13,631

(41,721)

Shareholders' funds/(deficit)

 

13,731

(41,621)

 

Scuffs (UK) Limited

(Registration number: 07343322)
Balance Sheet as at 29 August 2024

For the financial year ending 29 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 May 2025 and signed on its behalf by:
 

.........................................
Ms Natasha Katie Dos Santos
Director

 

Scuffs (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 August 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit M6
Frome Business Park
Manor Road
Frome
Somerset
BA11 4FN

These financial statements were authorised for issue by the Board on 27 May 2025.

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 and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Scuffs (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 August 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent 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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold/Tenant improvements and Integral features

10% Straight line and 15% Reducing balance method

Plant and machinery

15% Reducing balance method

Motor vehicles

25% Reducing balance method

Computer equipment

25% Reducing balance method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Scuffs (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 August 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 17 (2023 - 16).

 

Scuffs (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 August 2024

4

Tangible assets

Long leasehold land and buildings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 30 August 2023

26,600

86,660

7,992

81,512

Revaluations

-

64,152

-

-

Additions

-

-

325

24,300

Disposals

-

-

-

(19,600)

At 29 August 2024

26,600

150,812

8,317

86,212

Depreciation

At 30 August 2023

17,364

49,808

5,675

28,933

Charge for the year

1,900

8,703

623

15,345

Eliminated on disposal

-

-

-

(5,206)

At 29 August 2024

19,264

58,511

6,298

39,072

Carrying amount

At 29 August 2024

7,336

92,301

2,019

47,140

At 29 August 2023

9,236

36,852

2,317

52,579

Total
£

Cost or valuation

At 30 August 2023

202,764

Revaluations

64,152

Additions

24,625

Disposals

(19,600)

At 29 August 2024

271,941

Depreciation

At 30 August 2023

101,780

Charge for the year

26,571

Eliminated on disposal

(5,206)

At 29 August 2024

123,145

Carrying amount

At 29 August 2024

148,796

At 29 August 2023

100,984

 

Scuffs (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 August 2024

Included within the net book value of land and buildings above is £7,336 (2023 - £9,236) in respect of long leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

68,865

85,960

6

Debtors

Current

2024
£

2023
£

Trade debtors

165,055

185,621

Prepayments

64,250

57,694

Other debtors

1,146

1,146

 

230,451

244,461

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

42,678

22,330

Trade creditors

 

150,217

143,101

Taxation and social security

 

82,586

75,574

Accruals and deferred income

 

5,338

25,985

Other creditors

 

76,403

228,120

 

357,222

495,110

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

49,113

41,618

Lloyds Bank PLC holds a fixed and floating charge covers all the property and undertakings of the company.

 

Scuffs (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 August 2024

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

A Ordinary of £1 each

50

50

50

50

B Ordinary of £1 each

50

50

50

50

100

100

100

100

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

29,525

20,581

Other borrowings

19,588

21,037

49,113

41,618

Current loans and borrowings

2024
£

2023
£

Bank borrowings

23,227

12,284

Hire purchase contracts

4,989

-

Finance lease liabilities

9,563

-

Other borrowings

4,899

10,046

42,678

22,330