Specialist UK Restorations Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05647771 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Specialist UK Restorations Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M J Knowles

I Baldwin

SECRETARY:

M J Knowles

REGISTERED OFFICE:

32 Derby Street

Ormskirk

Lancashire

L39 2BY

REGISTERED NUMBER:

05647771 (England and Wales)

ACCOUNTANTS:

Myersons

Chartered Accountants

32 Derby Street

Ormskirk

Lancashire

L39 2BY

FIXED ASSETS

Tangible assets

4

1,183,268

465,685

CURRENT ASSETS

Stocks

36,110

28,181

Debtors

5

778,807

901,749

Cash at bank and in hand

1,076,451

1,757,268

1,891,368

2,687,198

CREDITORS

Amounts falling due within one year

6

585,028

815,059

NET CURRENT ASSETS

1,306,340

1,872,139

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,489,608

2,337,824

CREDITORS

Amounts falling due after more than one year

7

(120,568

)

(204,662

)

PROVISIONS FOR LIABILITIES

9

(130,498

)

(205,091

)

NET ASSETS

2,238,542

1,928,071

CAPITAL AND RESERVES

Called up share capital

10

100

Retained earnings

2,238,442

1,927,971

SHAREHOLDERS' FUNDS

2,238,542

1,928,071

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2025 and were signed on its behalf by:

M J Knowles - Director

1.	STATUTORY INFORMATION

Specialist UK Restorations 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.

Tangible fixed assets

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

Long leasehold

-

2% on cost

Improvements to property

-

10% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

10% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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 Income Statement, 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.

Hire purchase and leasing commitments

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 33 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Long

to

Plant and

leasehold

property

machinery

£

COST

At 1 January 2024

-

9,393

70,624

Additions

764,285

-

14,064

Disposals

-

At 31 December 2024

764,285

9,393

84,688

DEPRECIATION

At 1 January 2024

-

3,952

43,527

Charge for year

7,006

939

9,910

Eliminated on disposal

-

At 31 December 2024

7,006

4,891

53,437

NET BOOK VALUE

At 31 December 2024

757,279

4,502

31,251

At 31 December 2023

-

5,441

27,097

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

COST

At 1 January 2024

8,658

602,159

38,282

729,116

Additions

505

113,865

21,653

914,372

Disposals

-

(95,799

)

-

(95,799

)

At 31 December 2024

9,163

620,225

59,935

1,547,689

DEPRECIATION

At 1 January 2024

5,560

182,135

28,257

263,431

Charge for year

385

106,021

679

124,940

Eliminated on disposal

-

(23,950

)

-

(23,950

)

At 31 December 2024

5,945

264,206

28,936

364,421

NET BOOK VALUE

At 31 December 2024

3,218

356,019

30,999

1,183,268

At 31 December 2023

3,098

420,024

10,025

465,685

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

337,609

579,401

Other debtors

350

Directors' current accounts

304,296

206,796

Tax

103,375

69,794

VAT

30,022

39,408

Prepayments

3,155

6,000

778,807

901,749

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Hire purchase contracts (see note 8)

83,762

Trade creditors

201,072

320,599

Tax

213,061

290,516

Social security and other taxes

43,118

38,897

Other creditors

13,005

9,182

Accrued expenses

31,010

72,103

585,028

815,059

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.12.23

£

Hire purchase contracts (see note 8)

120,568

204,662

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.12.24

31.12.23

£

Net obligations repayable:

Within one year

83,762

Between one and five years

120,568

204,662

204,330

288,424

Non-cancellable

operating leases

31.12.24

31.12.23

£

Within one year

24,000

50,638

9.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

Deferred tax

30,489

45,383

Other provisions

100,009

159,708

130,498

205,091

Deferred

tax

£

Balance at 1 January 2024

45,383

Provided during year

(14,894

)

Balance at 31 December 2024

30,489

Other provisions are in respect of Warranties.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

60

Ordinary A

£1

60

39

Ordinary B

£1

39

1

Ordinary C

£1

1

100

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

M J Knowles

Balance outstanding at start of year

192,956

-

Amounts advanced

99,500

192,956

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

292,456

192,956

I Baldwin

Balance outstanding at start of year

13,840

16,340

Amounts repaid

(2,000

)

(2,500

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

11,840

13,840

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M J Knowles.