Registered number
12947386
Budget Mobile Bodyshop Ltd
Filleted Accounts
31 December 2024
Budget Mobile Bodyshop Ltd
Registered number: 12947386
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 529,014 380,354
Current assets
Stocks 69,756 6,845
Debtors 4 170,214 176,390
Cash at bank and in hand 104,015 119,980
343,985 303,215
Creditors: amounts falling due within one year 5 (699,202) (542,535)
Net current liabilities (355,217) (239,320)
Total assets less current liabilities 173,797 141,034
Creditors: amounts falling due after more than one year 6 (203,609) (156,203)
Net liabilities (29,812) (15,169)
Capital and reserves
Called up share capital 100 100
Profit and loss account (29,912) (15,269)
Shareholders' funds (29,812) (15,169)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Bailey
Director
Approved by the board on 23 June 2025
Budget Mobile Bodyshop Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 0%
Plant & Machinery 3 Years straight line
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 9
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 313,543 3,243 124,621 441,407
Additions 12,500 48,566 130,157 191,223
Disposals - - (9,015) (9,015)
At 31 December 2024 326,043 51,809 245,763 623,615
Depreciation
At 1 January 2024 - 1,331 59,722 61,053
Charge for the year - 9,803 28,957 38,760
On disposals - - (5,212) (5,212)
At 31 December 2024 - 11,134 83,467 94,601
Net book value
At 31 December 2024 326,043 40,675 162,296 529,014
At 31 December 2023 313,543 1,912 64,899 380,354
4 Debtors 2024 2023
£ £
Trade debtors 150,838 151,734
Other debtors 19,376 24,656
170,214 176,390
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 8,214 -
Trade creditors 153,827 30,217
Taxation and social security costs 19,379 32,209
Other creditors 517,782 480,109
699,202 542,535
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 203,609 156,203
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 203,609 156,203
There is a fixed and floating charge over the freehold land and buildings owned by the company dated 11 November 2021 - this is held by Allica Bank.
8 Other information
Budget Mobile Bodyshop Ltd is a private company limited by shares and incorporated in England. Its registered office is:
37 Hermitage Way
Mansfield
NG18 5ES
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