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REGISTERED NUMBER: 03904947 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

GLOBAL REPAIRS LIMITED

GLOBAL REPAIRS LIMITED (REGISTERED NUMBER: 03904947)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GLOBAL REPAIRS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025







DIRECTOR: M P Reeves





SECRETARY: Mrs M F Reeves





REGISTERED OFFICE: Unit 2 Soothouse Spring
Valley Road Industrial Estate
St Albans
Hertfordshire
AL3 6PF





REGISTERED NUMBER: 03904947 (England and Wales)





ACCOUNTANTS: Melinek Fine LLP
Chartered Accountants
First Floor, Winston House
349 Regents Park Road
London
N3 1DH

GLOBAL REPAIRS LIMITED (REGISTERED NUMBER: 03904947)

BALANCE SHEET
31 MARCH 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 4,300
Tangible assets 5 115,189 78,281
115,189 82,581

CURRENT ASSETS
Stocks 34,000 28,000
Debtors 6 161,628 53,234
Cash at bank 185,520 85,124
381,148 166,358
CREDITORS
Amounts falling due within one year 7 470,068 382,399
NET CURRENT LIABILITIES (88,920 ) (216,041 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

26,269

(133,460

)

CREDITORS
Amounts falling due after more than one year 8 9,167 19,167
NET ASSETS/(LIABILITIES) 17,102 (152,627 )

CAPITAL AND RESERVES
Called up share capital 2 2
Profit and loss account 17,100 (152,629 )
17,102 (152,627 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

GLOBAL REPAIRS LIMITED (REGISTERED NUMBER: 03904947)

BALANCE SHEET - continued
31 MARCH 2025


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 July 2025 and were signed by:





M P Reeves - Director


GLOBAL REPAIRS LIMITED (REGISTERED NUMBER: 03904947)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


1. STATUTORY INFORMATION

Global Repairs Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses in 2012 for £180,000 and in 2015 for £43,000, is being amortised evenly over their estimated useful lives of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life

Plant and machinery etc - 25% on reducing balance and 33% on straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

GLOBAL REPAIRS LIMITED (REGISTERED NUMBER: 03904947)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Tangible fixed assets acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The balance sheet at the end of the year recorded net liabilities. Sales in the last two years has increased from picking up new business after the pandemic. The company has also incurred higher marketing costs to bring in more business. However the directors are actively working to reduce the overheads, especially staff costs which have decreased in the year. Following the yearend, the directors have further reduced the marketing costs and changed the platform from which new repair bookings are made. The directors believe that the reduction in the costs, together with their financial support, will enable the company to continue trading into the foreseeable future.Therefore, the financial statements have been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2024 - 35 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2024
and 31 March 2025 223,000
AMORTISATION
At 1 April 2024 218,700
Charge for year 4,300
At 31 March 2025 223,000
NET BOOK VALUE
At 31 March 2025 -
At 31 March 2024 4,300

GLOBAL REPAIRS LIMITED (REGISTERED NUMBER: 03904947)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2024 226,331
Additions 92,379
Disposals (73,942 )
At 31 March 2025 244,768
DEPRECIATION
At 1 April 2024 148,050
Charge for year 26,200
Eliminated on disposal (44,671 )
At 31 March 2025 129,579
NET BOOK VALUE
At 31 March 2025 115,189
At 31 March 2024 78,281

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 64,395 37,680
Other debtors 97,233 15,554
161,628 53,234

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 225,662 192,608
Taxation and social security 136,378 106,501
Other creditors 98,028 73,290
470,068 382,399

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Bank loans 9,167 19,167

GLOBAL REPAIRS LIMITED (REGISTERED NUMBER: 03904947)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025 2024
£    £   
M P Reeves
Balance outstanding at start of year - -
Amounts advanced 65,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 65,000 -