Sunray Auto Repairs Limited 31/12/2024 iXBRL

Company registration number: 10612794

Sunray Auto Repairs Limited

Unaudited filleted financial statements

31 December 2024

Sunray Auto Repairs Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Statement of changes in equity

Notes to the financial statements

Sunray Auto Repairs Limited

Directors and other information


Directors	Mr Andrew Gilling
	Mr Scott Marshall	(Appointed 1 July 2024)


Company number	10612794


Registered office	Sovereign House
	82 West Street
	Rochford
	Essex
	SS4 1As


Business address	Unit 2 Robert Leonard Industrial Estate
	Stock Road
	Southend on Sea
	Essex
	SS2 5QD


Accountants	Murphy Collins Limited
	Sovereign House
	82 West Street
	Rochford
	Essex
	SS4 1AS

Sunray Auto Repairs Limited

Chartered accountants report to the board of directors on the preparation of the

unaudited statutory financial statements of Sunray Auto Repairs Limited

Period ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sunray Auto Repairs Limited for the period ended 31 December 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.

This report is made solely to the board of directors of Sunray Auto Repairs Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Sunray Auto Repairs Limited and state those matters that we have agreed to state to the board of directors of Sunray Auto Repairs Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sunray Auto Repairs Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Sunray Auto Repairs Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sunray Auto Repairs Limited. You consider that Sunray Auto Repairs Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Sunray Auto Repairs Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Murphy Collins Limited

Sovereign House

82 West Street

Rochford

Essex

SS4 1AS

14 March 2025

Sunray Auto Repairs Limited

Statement of financial position

31 December 2024

		31/12/24		31/12/23
	Note	£	£	£	£

Fixed assets
Intangible assets	7	5,666		7,333
Tangible assets	8	5,081		15,603
		_______		_______
			10,747		22,936

Current assets
Stocks		250		250
Debtors	9	17,091		17,219
Cash at bank and in hand		14,986		8,581
		_______		_______
		32,327		26,050
Creditors: amounts falling due
within one year	10	( 33,491)		( 23,541)
		_______		_______
Net current (liabilities)/assets			( 1,164)		2,509
			_______		_______
Total assets less current liabilities			9,583		25,445

Creditors: amounts falling due
after more than one year	11		-		( 11,206)

Provisions for liabilities	12		1,414		631

			_______		_______
Net assets			10,997		14,870
			_______		_______

Capital and reserves
Called up share capital	14		100		100
Profit and loss account			10,897		14,770
			_______		_______
Shareholders funds			10,997		14,870
			_______		_______

For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 14 March 2025 , and are signed on behalf of the board by:

Mr Andrew Gilling Mr Scott Marshall

Director Director

Company registration number: 10612794

Sunray Auto Repairs Limited

Statement of changes in equity

Period ended 31 December 2024

	Called up share capital	Profit and loss account	Total
	£	£	£


At 28 February 2023	100	29,659	29,759

Profit for the period		26,111	26,111
	_______	_______	_______
Total comprehensive income for the period	-	26,111	26,111

Dividends paid and payable		( 41,000)	( 41,000)
	_______	_______	_______
Total investments by and distributions to owners	-	( 41,000)	( 41,000)

	_______	_______	_______
At 31 December 2023 and 1 January 2024	100	14,770	14,870

Profit for the period		45,358	45,358
	_______	_______	_______
Total comprehensive income for the period	-	45,358	45,358

Dividends paid and payable		( 49,231)	( 49,231)
	_______	_______	_______
Total investments by and distributions to owners	-	( 49,231)	( 49,231)

	_______	_______	_______
At 31 December 2024	100	10,897	10,997
	_______	_______	_______

Sunray Auto Repairs Limited

Notes to the financial statements

Period ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sunray Auto Repairs Limited, Sovereign House, 82 West Street, Rochford, Essex, SS4 1As.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Goodwill	-	10 %	straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	15 %	reducing balance
Fittings fixtures and equipment	-	15 %	reducing balance
Motor vehicles	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 3 (2023: 3 ).

5. Tax on profit

Major components of tax expense

	Year	Period
	ended	ended
	31/12/24	31/12/23
	£	£
Current tax:
UK current tax expense	11,884	6,549
	_______	_______

Deferred tax:
Origination and reversal of timing differences	( 784)	( 425)
	_______	_______
Tax on profit	11,100	6,124
	_______	_______

6. Dividends

Equity dividends

	Year	Period
	ended	ended
	31/12/24	31/12/23
	£	£
Dividends paid during the period (excluding those for which a liability existed at the end of the prior period)	49,231	41,000
	_______	_______

7. Intangible assets

	Goodwill	Total
	£	£
Cost
At 1 January 2024 and 31 December 2024	20,000	20,000
	_______	_______
Amortisation
At 1 January 2024	12,667	12,667
Charge for the period	1,667	1,667
	_______	_______
At 31 December 2024	14,334	14,334
	_______	_______
Carrying amount
At 31 December 2024	5,666	5,666
	_______	_______
At 31 December 2023	7,333	7,333
	_______	_______

8. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£
Cost
At 1 January 2024	968	9,781	22,975	33,724
Additions	-	424	-	424
Disposals	-	-	( 22,550)	( 22,550)
	_______	_______	_______	_______
At 31 December 2024	968	10,205	425	11,598
	_______	_______	_______	_______
Depreciation
At 1 January 2024	602	4,660	12,859	18,121
Charge for the year	55	831	2,529	3,415
Disposals	-	-	( 15,019)	( 15,019)
	_______	_______	_______	_______
At 31 December 2024	657	5,491	369	6,517
	_______	_______	_______	_______
Carrying amount
At 31 December 2024	311	4,714	56	5,081
	_______	_______	_______	_______
At 31 December 2023	366	5,121	10,116	15,603
	_______	_______	_______	_______

9. Debtors

	31/12/24	31/12/23
	£	£
Trade debtors	13,706	10,242
Other debtors	3,385	6,977
	_______	_______
	17,091	17,219
	_______	_______

10. Creditors: amounts falling due within one year

	31/12/24	31/12/23
	£	£
Trade creditors	355	6,051
Corporation tax	11,827	6,434
Social security and other taxes	1,101	5,213
Other creditors	20,208	5,843
	_______	_______
	33,491	23,541
	_______	_______

11. Creditors: amounts falling due after more than one year

	31/12/24	31/12/23
	£	£
Other creditors	-	11,206
	_______	_______

12. Provisions

	Deferred tax (note 13)	Total
	£	£
At 1 January 2024	( 630)	( 630)
Additions	( 784)	( 784)
	_______	_______
At 31 December 2024	( 1,414)	( 1,414)
	_______	_______

13. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	31/12/24	31/12/23
	£	£
Included in provisions (note 12)	( 1,414)	( 631)
	_______	_______

The deferred tax account consists of the tax effect of timing differences in respect of:

	31/12/24	31/12/23
	£	£
Accelerated capital allowances	( 1,414)	( 631)
	_______	_______

14. Called up share capital

Issued, called up and fully paid

	31/12/24		31/12/23
	No	£	No	£
Ordinary shares of £ 1.00 each	100	100	100	100
	_______	_______	_______	_______

15. Directors advances, credits and guarantees

	During the period the directors entered into the following advances and credits with the company:

Year ended 31/12/24
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr Andrew Gilling	( 107)	107	-	-
		_______	_______	_______	_______

Period ended 31/12/23
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr Andrew Gilling	( 1,817)	34,449	( 32,739)	( 107)
		_______	_______	_______	_______

16. Controlling party

Mr A Gilling controls the company.