REGISTERED NUMBER: 07430095 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Truck And Bus Repairs Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J T Moore

REGISTERED OFFICE:

Private Road No 5

Colwick Industrial Estate

Colwick

Nottingham

NG4 2JU

REGISTERED NUMBER:

07430095 (England and Wales)

ACCOUNTANTS:

D. K. Rumsby & Co Limited

3 Colwick Quays

Colwick

Nottingham

Nottinghamshire

NG4 2JY

FIXED ASSETS

Tangible assets

4

2,283,897

2,281,508

Investments

5

85,000

85,000

2,368,897

2,366,508

CURRENT ASSETS

Stocks

779,207

979,738

Debtors

6

281,798

312,764

Cash at bank

-

111,001

1,061,005

1,403,503

CREDITORS

Amounts falling due within one year

7

(1,065,459

)

(1,217,989

)

NET CURRENT (LIABILITIES)/ASSETS

(4,454

)

185,514

TOTAL ASSETS LESS CURRENT LIABILITIES

2,364,443

2,552,022

CREDITORS

Amounts falling due after more than one year

8

(525,069

)

(751,066

)

PROVISIONS FOR LIABILITIES

(507,913

)

(498,766

)

NET ASSETS

1,331,461

1,302,190

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

1,331,361

1,302,090

SHAREHOLDERS' FUNDS

1,331,461

1,302,190

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 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

J T Moore - Director

1.	STATUTORY INFORMATION

Truck And Bus Repairs Ltd. 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.

Changes in accounting policies

The depreciation rate of motor vehicles has been changed from 25% reducing balance to 10% reducing balance as the directors believe this is more appropriate.

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.

Short leasehold

-

period of lease

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

10% on reducing balance

Computer equipment

-

25% on reducing balance

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 Statement of Income and Retained Earnings, 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.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

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 12 (2023 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Short

Plant and

Motor

Computer

leasehold

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

106,963

251,902

4,217,607

13,038

4,589,510

Additions

109,655

45,948

554,143

-

709,746

Disposals

-

-

(793,589

)

-

(793,589

)

At 31 December 2024

216,618

297,850

3,978,161

13,038

4,505,667

DEPRECIATION

At 1 January 2024

48,391

148,649

2,100,470

10,492

2,308,002

Charge for year

16,123

19,962

226,479

636

263,200

Eliminated on disposal

-

-

(349,432

)

-

(349,432

)

At 31 December 2024

64,514

168,611

1,977,517

11,128

2,221,770

NET BOOK VALUE

At 31 December 2024

152,104

129,239

2,000,644

1,910

2,283,897

At 31 December 2023

58,572

103,253

2,117,137

2,546

2,281,508

The net book value of assets held under finance leases or hire purchase contracts, included above, was £1,241,034 (2023: £1,594,191).

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

and 31 December 2024

85,000

NET BOOK VALUE

At 31 December 2024

85,000

At 31 December 2023

85,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

274,214

303,598

Other debtors

7,584

9,166

281,798

312,764

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

29,331

21,818

Finance leases (see note 9)

188,467

315,130

Trade creditors

55,300

58,056

Taxation and social security

111,759

97,650

Other creditors

680,602

725,335

1,065,459

1,217,989

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

7,272

29,091

Finance leases (see note 9)

517,797

721,975

525,069

751,066

9.	LEASING AGREEMENTS

Minimum lease payments under finance leases fall due as follows:

Finance leases

31.12.24

31.12.23

£

£

Net obligations repayable:

Within one year

188,467

315,130

Between one and five years

517,797

721,975

706,264

1,037,105

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

29,090

50,909

Finance leases

706,264

1,037,105

735,354

1,088,014

The hire purchase and finance lease agreements are secured by way of a fixed and floating charge over the assets of the company.

The director has also given certain personal guarantees regarding hire purchase and finance lease agreements entered into by the company.

The bank loan comprises a CBILS loan which is secured by an unlimited debenture provided by the company.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

100

Ordinary

£1

100

100