Company registration number 15227990 (England and Wales)
UNITED REPAIR CENTRE LONDON LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
UNITED REPAIR CENTRE LONDON LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
UNITED REPAIR CENTRE LONDON LTD
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
Notes
£
£
Fixed assets
Intangible assets
2
45,000
Tangible assets
3
29,805
74,805
Current assets
Debtors
4
30,548
Cash at bank and in hand
50,791
81,339
Creditors: amounts falling due within one year
5
(100,365)
Net current liabilities
(19,026)
Total assets less current liabilities
55,779
Creditors: amounts falling due after more than one year
6
(287,500)
Net liabilities
(231,721)
Capital and reserves
Called up share capital
100
Profit and loss reserves
(231,821)
Total equity
(231,721)
For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 29 April 2025 and are signed on its behalf by:
T Schweichler Reis
Director
Company registration number 15227990 (England and Wales)
UNITED REPAIR CENTRE LONDON LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 2 -
1
Accounting policies
Company information
United Repair Centre London Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 4, Crusader Industrial Estate, 167 Hermitage Road, Haringey Warehouse District, N4 1LZ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.
When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
10% reducing balance basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
UNITED REPAIR CENTRE LONDON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 3 -
2
Intangible fixed assets
Goodwill
£
Cost
At 23 October 2023
Additions
50,000
At 31 October 2024
50,000
Amortisation and impairment
At 23 October 2023
Amortisation charged for the year
5,000
At 31 October 2024
5,000
Carrying amount
At 31 October 2024
45,000
3
Tangible fixed assets
Plant and equipment
£
Cost
At 23 October 2023
Additions
32,589
At 31 October 2024
32,589
Depreciation and impairment
At 23 October 2023
Depreciation charged in the year
2,784
At 31 October 2024
2,784
Carrying amount
At 31 October 2024
29,805
4
Debtors
2024
Amounts falling due within one year:
£
Other debtors
30,548
UNITED REPAIR CENTRE LONDON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
£
Trade creditors
24,097
Other creditors
75,268
Accruals and deferred income
1,000
100,365
6
Creditors: amounts falling due after more than one year
2024
£
Other creditors
287,500