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The Fix UK Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2024

Registration number: 4867784

 

The Fix UK Limited

Contents

Statement of financial position

1

Notes to the Unaudited Financial Statements

2 to 7

 

The Fix UK Limited

(Registration number: 4867784)
Statement of financial position as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

2,593

3,457

Tangible assets

5

45,520

47,675

 

48,113

51,132

Current assets

 

Debtors

6

105,425

51,693

Cash at bank and in hand

 

503,706

386,121

 

609,131

437,814

Creditors: Amounts falling due within one year

7

(331,272)

(288,664)

Net current assets

 

277,859

149,150

Total assets less current liabilities

 

325,972

200,282

Creditors: Amounts falling due after more than one year

7

(25,463)

(30,994)

Provisions for liabilities

(413)

(266)

Net assets

 

300,096

169,022

Capital and reserves

 

Called up share capital

8

97

97

Retained earnings

299,999

168,925

Shareholders' funds

 

300,096

169,022

For the financial year ending 31 October 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 and 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 director has not delivered to the registrar a copy of the Income statement.

Approved and authorised by the director on 3 February 2025
 

.........................................
Mr D Krangel
Director

 

The Fix UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Solo House
The Courtyard
London Road
Horsham
West Sussex
RH12 1AT

These financial statements were authorised for issue by the director on 3 February 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 current and 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.

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 taxable 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.

 

The Fix UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Tangible assets

Tangible assets are stated in the statement of financial position 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

Fixtures & Fittings

25% Reducing Balance

Motor Vehicles

25% Reducing Balance

Freehold Property

25% Straight Line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website Development

25% Reducing Balance

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.

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 income statement 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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

The Fix UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

4

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 November 2023

41,159

41,159

At 31 October 2024

41,159

41,159

Amortisation

At 1 November 2023

37,702

37,702

Amortisation charge

864

864

At 31 October 2024

38,566

38,566

Carrying amount

At 31 October 2024

2,593

2,593

At 31 October 2023

3,457

3,457

 

The Fix UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

67,921

450

10,500

78,871

Additions

-

679

-

679

At 31 October 2024

67,921

1,129

10,500

79,550

Depreciation

At 1 November 2023

21,647

450

9,099

31,196

Charge for the year

2,314

170

350

2,834

At 31 October 2024

23,961

620

9,449

34,030

Carrying amount

At 31 October 2024

43,960

509

1,051

45,520

At 31 October 2023

46,274

-

1,401

47,675

6

Debtors

2024
£

2023
£

Trade debtors

3,192

-

Other debtors

44,713

23,834

Prepayments

57,520

27,859

105,425

51,693

 

The Fix UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

5,556

5,580

Trade creditors

 

124

26,891

Taxation and social security

 

113,004

69,060

Accruals and deferred income

 

4,000

3,800

Other creditors

 

208,588

183,333

 

331,272

288,664

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

25,463

30,994

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

97

97

97

97

       
 

The Fix UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

25,463

30,994

Current loans and borrowings

2024
£

2023
£

Other borrowings

5,556

5,580

10

Related party transactions

Transactions with the director

2024

At 1 November 2023
£

Advances to director
£

Repayments by director
£

At 31 October 2024
£

Mr D Krangel

Loan at 2/2.25%

23,834

96,878

(76,000)

44,712

2023

At 1 November 2022
£

Advances to director
£

At 31 October 2023
£

Mr D Krangel

Loan at 2/2.25%

-

23,834

23,834