REGISTERED NUMBER: 08347506 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2025

for

Smartworld Body Repairs Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs L Dorey

A Dorey

REGISTERED OFFICE:

128 High Street

Crediton

Devon

EX17 3LQ

REGISTERED NUMBER:

08347506 (England and Wales)

ACCOUNTANTS:

Bedford & Co Limited

128 High Street

Crediton

Devon

EX17 3LQ

FIXED ASSETS

Tangible assets

4

151,899

191,648

CURRENT ASSETS

Stocks

49,593

45,334

Debtors

5

88,098

154,709

Cash at bank

82,318

143,592

220,009

343,635

CREDITORS

Amounts falling due within one year

6

167,328

269,021

NET CURRENT ASSETS

52,681

74,614

TOTAL ASSETS LESS CURRENT LIABILITIES

204,580

266,262

CREDITORS

Amounts falling due after more than one year

7

(73,590

)

(100,673

)

PROVISIONS FOR LIABILITIES

(19,815

)

(30,229

)

NET ASSETS

111,175

135,360

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

111,075

135,260

111,175

135,360

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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 24 February 2025 and were signed on its behalf by:

A Dorey - Director

1.	STATUTORY INFORMATION

Smartworld Body 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.

The company's place of business is 2-3 The Grange Units, Trusham Road, Marsh Barton, Exeter, Devon, EX2 8RB

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 from the sale of services, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised when services are delivered to customers such that risks and rewards of ownership have been transferred to them and that there is sufficient reliable evidence that delivery of goods has occurred.

Tangible fixed assets

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

Land and buildings

-

25% on cost

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell.

Cost is calculated on a first in first out basis.

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 17 (2024 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 February 2024

20,318

335,292

355,610

Additions

-

22,384

22,384

Disposals

-

(27,263

)

(27,263

)

At 31 January 2025

20,318

330,413

350,731

DEPRECIATION

At 1 February 2024

20,318

143,644

163,962

Charge for year

-

50,632

50,632

Eliminated on disposal

-

(15,762

)

(15,762

)

At 31 January 2025

20,318

178,514

198,832

NET BOOK VALUE

At 31 January 2025

-

151,899

151,899

At 31 January 2024

-

191,648

191,648

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade debtors

84,646

139,542

Other debtors

3,452

15,167

88,098

154,709

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts

16,733

26,439

Trade creditors

36,791

100,839

Taxation and social security

59,260

51,343

Other creditors

44,544

80,400

167,328

269,021

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans

3,333

13,333

Hire purchase contracts

70,257

87,340

73,590

100,673

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.25

31.1.24

£

£

Hire purchase contracts

86,990

113,779