Registration number: 04879405

SMART PAINT CRASH REPAIR LTD

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

SMART PAINT CRASH REPAIR LTD

Company Information

Directors

Mr N Paris Mr R J Young

Registered office

222 Wolverton Road Blakelands Milton Keynes MK14 5AB

Accountants

Veracitas Financial Consultants Ltd Chartered8 Park View Tickford Street Newport Pagnell Buckinghamshire MK16 9AD

SMART PAINT CRASH REPAIR LTD

(Registration number: 04879405)
Balance Sheet as at 31 August 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	58,600	58,600
Tangible assets	5	57,653	76,853
		116,253	135,453
Current assets
Stocks	6	10,176	10,152
Debtors	7	33,762	63,264
Cash at bank and in hand		28,490	78,107
		72,428	151,523
Creditors: Amounts falling due within one year	8	(26,293)	(44,945)
Net current assets		46,135	106,578
Total assets less current liabilities		162,388	242,031
Creditors: Amounts falling due after more than one year	8	(161,840)	(212,776)
Net assets		548	29,255
Capital and reserves
Called up share capital	9	100	100
Retained earnings		448	29,155
Shareholders' funds		548	29,255

For the financial year ending 31 August 2025 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 23 February 2026 and signed on its behalf by:
 

SMART PAINT CRASH REPAIR LTD

(Registration number: 04879405)
Balance Sheet as at 31 August 2025

......................................... Mr N Paris Director

......................................... Mr R J Young Director

SMART PAINT CRASH REPAIR LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

1	General information

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

The address of its registered office is:
222 Wolverton Road
Blakelands
Milton Keynes
MK14 5AB

The principal place of business is:
9 London Road
Stony Stratford
MK11 1JA

These financial statements were authorised for issue by the Board on 23 February 2026.

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 except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.

SMART PAINT CRASH REPAIR LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plany and machinery	25% Reducing Balance
Furnitutes and 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises 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. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

SMART PAINT CRASH REPAIR LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

SMART PAINT CRASH REPAIR LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 September 2024	58,600	58,600
At 31 August 2025	58,600	58,600
Amortisation
Carrying amount
At 31 August 2025	58,600	58,600
At 31 August 2024	58,600	58,600

5	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 September 2024	8,413	40,571	96,173	145,157
At 31 August 2025	8,413	40,571	96,173	145,157
Depreciation
At 1 September 2024	8,413	35,848	24,043	68,304
Charge for the year	-	1,167	18,033	19,200
At 31 August 2025	8,413	37,015	42,076	87,504
Carrying amount
At 31 August 2025	-	3,556	54,097	57,653
At 31 August 2024	-	4,723	72,130	76,853

6

Stocks

	2025 £	2024 £
Work in progress	10,176	10,152

7

Debtors

SMART PAINT CRASH REPAIR LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Current	2025 £	2024 £
Trade debtors	24,547	51,307
Other debtors	9,215	11,957
	33,762	63,264

8

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Taxation and social security	24,643	43,295
Accruals and deferred income	1,650	1,650
	26,293	44,945

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	10	161,840	212,776

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary a of £1 each	50	50	50	50
Ordinary B of £1 each	50	50	50	50
	100	100	100	100

10	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	7,089	16,091
Hire purchase contracts	89,089	97,840
Other borrowings	65,662	98,845
	161,840	212,776