Registrar

Registration number: 02779500

Chelmsford Accident Repair Specialists Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 12

Chelmsford Accident Repair Specialists Limited

Company Information

Directors

M J M Kirkham P Shelton

Registered office

Rivermead Industrial Estate Bishop Hall Lane Chelmsford Essex CM1 1PD

Bankers

Metro Bank Plc One Southampton Row London WC1B 5HA

Auditors

Lambert Chapman LLP 3 Warners Mill Silks Way Braintree Essex CM7 3GB

Chelmsford Accident Repair Specialists Limited

(Registration number: 02779500)
Balance Sheet as at 31 July 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	35,717	42,417
Tangible assets	5	873,372	1,123,810
Investments	6	50	50
		909,139	1,166,277
Current assets
Stocks	7	139,572	224,898
Debtors	8	3,754,869	3,569,167
Cash at bank and in hand		53,616	74,688
		3,948,057	3,868,753
Creditors: Amounts falling due within one year	9	(1,153,563)	(1,183,264)
Net current assets		2,794,494	2,685,489
Total assets less current liabilities		3,703,633	3,851,766
Creditors: Amounts falling due after more than one year	9	(468,221)	(711,765)
Provisions for liabilities		(74,469)	(82,787)
Net assets		3,160,943	3,057,214
Capital and reserves
Called up share capital	10	3	3
Capital redemption reserve		1	1
Retained earnings		3,160,939	3,057,210
Shareholders' funds		3,160,943	3,057,214

 

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 September 2025 and signed on its behalf by:
 

M J M Kirkham
Director

Chelmsford Accident Repair Specialists Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is: Rivermead Industrial Estate, Bishop Hall Lane, Chelmsford, Essex, CM1 1PD.

These financial statements were authorised for issue by the Board on 26 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Summary of disclosure exemptions

The company has taken the exemption available from disclosing transactions with other members of the group in accordance with FRS 102 Section 33.1a.

Going concern

The directors have a reasonable expectation that the company will continue to operate as a going concern for the foreseeable future.

Chelmsford Accident Repair Specialists Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

Audit report

The Independent Auditor's Report was qualified. We were not appointed as auditors of the company until after 31 July 2022. We were unable to access evidence confirming that the work in progress of £204,890 as at 31 July 2022 was accurate. As a result, we are unable to confirm that the opening work in progress figure for the comparative year is materially correct.

As no material errors in the work in progress have been identified for the years ended 31 July 2023 and 31 July 2024, our audit report next year will not be qualified in respect of any historical balances. .

The name of the Senior Statutory Auditor who signed the audit report on 26 September 2025 was Lisa Greenwood FCCA, who signed for and on behalf of Lambert Chapman LLP.

Judgements

The preparation of the financial statement requires management to make significant judgements and estimates. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Other than those involving estimations there are no judgements that management has made in the process of applying the entity's accounting policies that have a significant effect on the amounts recognised in the financial statements.

Key sources of estimation uncertainty

The Directors consider depreciation as a key area of estimation. The depreciation rates applied to each class of assets are revised regularly in line with industry standards.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for specialist car repairs in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Government grants

Government grants have been recognised within the profit and loss account for the accounting period they relate to.

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Chelmsford Accident Repair Specialists Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

Depreciation

Depreciation is charged so as to write off the cost or valuation of assets, over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance, 20% straight line, 25% straight line and 33% straight line
Motor vehicles	25% reducing balance
Computer equipment	25% reducing balance
Improvements to property	10% reducing balance and 20% straight line
Fixtures & Fittings	25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Intangible assets

Intangible assets are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Franchise fees	Straight line over 10 years
Goodwill	Straight line over 10 years

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables. The impairment review is calculated using the estimated probability of default, assessed on a customer by customer basis.

Chelmsford Accident Repair Specialists Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

Stocks

Stock comprised of parts and supplies used for the repair of vehicles stated at cost.

The cost of work in progress comprised direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as an employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Chelmsford Accident Repair Specialists Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 56 (2023 - 52).

4	Intangible assets

	Goodwill  £	Franchise fees £	Total £
Cost or valuation
At 1 August 2023	85,000	12,000	97,000
At 31 July 2024	85,000	12,000	97,000
Amortisation
At 1 August 2023	45,583	9,000	54,583
Amortisation charge	5,500	1,200	6,700
At 31 July 2024	51,083	10,200	61,283
Carrying amount
At 31 July 2024	33,917	1,800	35,717
At 31 July 2023	39,417	3,000	42,417

Chelmsford Accident Repair Specialists Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

6	Investments

	2024 £	2023 £
Investments in associates	50	50