Company registration number 02449699 (England and Wales)
REPAIR AND RESTORATION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
PAGES FOR FILING WITH REGISTRAR
REPAIR AND RESTORATION LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 9
REPAIR AND RESTORATION LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2026
31 March 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
4
217,820
263,035
Current assets
Stocks
96,490
125,817
Debtors
5
121,861
78,734
Cash at bank and in hand
165,119
161,810
383,470
366,361
Creditors: amounts falling due within one year
6
(205,574)
(179,206)
Net current assets
177,896
187,155
Total assets less current liabilities
395,716
450,190
Creditors: amounts falling due after more than one year
7
(160,652)
(184,584)
Provisions for liabilities
(19,060)
(29,780)
Net assets
216,004
235,826
Capital and reserves
Called up share capital
5,002
5,002
Revaluation reserve
19,520
19,520
Capital redemption reserve
5,000
5,000
Profit and loss reserves
186,482
206,304
Total equity
216,004
235,826
REPAIR AND RESTORATION LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 MARCH 2026
31 March 2026
- 2 -

For the financial year ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 8 July 2026 and are signed on its behalf by:
Mr SJ Towse
Director
Company registration number 02449699 (England and Wales)
REPAIR AND RESTORATION LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2026
- 3 -
Share capital
Revaluation reserve
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 April 2024
5,000
19,520
5,000
210,088
239,608
Year ended 31 March 2025:
Profit and total comprehensive income
-
-
-
73,696
73,696
Issue of share capital
2
-
-
-
2
Dividends
-
-
-
(77,480)
(77,480)
Balance at 31 March 2025
5,002
19,520
5,000
206,304
235,826
Year ended 31 March 2026:
Profit and total comprehensive income
-
-
-
57,658
57,658
Dividends
-
-
-
(77,480)
(77,480)
Balance at 31 March 2026
5,002
19,520
5,000
186,482
216,004
REPAIR AND RESTORATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 4 -
1
Accounting policies
Company information

Repair and Restoration Limited is a private company limited by shares incorporated in England and Wales. The registered office is 31a Derwent Road, York Industrial Park, Malton, North Yorkshire, YO17 6YB.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Revenue

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

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

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.3
Tangible fixed assets

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

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% on cost
Plant and equipment
20% on cost
Motor vehicles
25% on cost
REPAIR AND RESTORATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 5 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

REPAIR AND RESTORATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 6 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

REPAIR AND RESTORATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 7 -

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Leases
As lessee

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

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
14
16
REPAIR AND RESTORATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 8 -
4
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2025
162,447
105,064
240,644
508,155
Disposals
-
0
-
0
(20,938)
(20,938)
At 31 March 2026
162,447
105,064
219,706
487,217
Depreciation and impairment
At 1 April 2025
20,160
100,128
124,832
245,120
Depreciation charged in the year
2,240
1,323
41,652
45,215
Eliminated in respect of disposals
-
0
-
0
(20,938)
(20,938)
At 31 March 2026
22,400
101,451
145,546
269,397
Carrying amount
At 31 March 2026
140,047
3,613
74,160
217,820
At 31 March 2025
142,287
4,936
115,812
263,035
5
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
35,293
45,908
Other debtors
86,568
32,826
121,861
78,734
6
Creditors: amounts falling due within one year
2026
2025
£
£
Bank loans
7,505
6,445
Trade creditors
55,378
80,848
Corporation tax
28,088
20,806
Other taxation and social security
54,809
47,611
Other creditors
59,794
23,496
205,574
179,206
REPAIR AND RESTORATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 9 -
7
Creditors: amounts falling due after more than one year
2026
2025
£
£
Bank loans and overdrafts
129,027
137,042
Other creditors
31,625
47,542
160,652
184,584
8
Directors' transactions

Dividends totalling £77,480 (2025 - £77,480) were paid in the year in respect of shares held by the company's directors.

Advances
% Rate
Opening balance
Amounts repaid
Closing balance
£
£
£
Mr SJ Towse - Directors Loan Account
2.25
9,689
(10,312)
(623)
Mr John Towse - Directors Loan Account
2.25
9,689
(10,312)
(623)
19,378
(20,624)
(1,246)

2026-03-31 2025-04-01 false false false 08 July 2026 CCH Software CCH Accounts Production 2026.100 No description of principal activity Mr S J Towse Mr John Towse 02449699 2025-04-01 2026-03-31 02449699 2026-03-31 02449699 2025-03-31 02449699 core:LandBuildings core:OwnedOrFreeholdAssets 2026-03-31 02449699 core:PlantMachinery 2026-03-31 02449699 core:MotorVehicles 2026-03-31 02449699 core:LandBuildings core:OwnedOrFreeholdAssets 2025-03-31 02449699 core:PlantMachinery 2025-03-31 02449699 core:MotorVehicles 2025-03-31 02449699 core:CurrentFinancialInstruments core:WithinOneYear 2026-03-31 02449699 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 02449699 core:Non-currentFinancialInstruments core:AfterOneYear 2026-03-31 02449699 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 02449699 core:CurrentFinancialInstruments 2026-03-31 02449699 core:CurrentFinancialInstruments 2025-03-31 02449699 core:Non-currentFinancialInstruments 2026-03-31 02449699 core:Non-currentFinancialInstruments 2025-03-31 02449699 core:ShareCapital 2026-03-31 02449699 core:ShareCapital 2025-03-31 02449699 core:RevaluationReserve 2026-03-31 02449699 core:RevaluationReserve 2025-03-31 02449699 core:CapitalRedemptionReserve 2026-03-31 02449699 core:CapitalRedemptionReserve 2025-03-31 02449699 core:RetainedEarningsAccumulatedLosses 2026-03-31 02449699 core:RetainedEarningsAccumulatedLosses 2025-03-31 02449699 core:ShareCapital 2024-03-31 02449699 core:RevaluationReserve 2024-03-31 02449699 core:CapitalRedemptionReserve 2024-03-31 02449699 core:RetainedEarningsAccumulatedLosses 2024-03-31 02449699 bus:Director1 2025-04-01 2026-03-31 02449699 core:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 02449699 2024-04-01 2025-03-31 02449699 core:RetainedEarningsAccumulatedLosses 2025-04-01 2026-03-31 02449699 core:ShareCapital 2024-04-01 2025-03-31 02449699 core:LandBuildings core:OwnedOrFreeholdAssets 2025-04-01 2026-03-31 02449699 core:PlantMachinery 2025-04-01 2026-03-31 02449699 core:MotorVehicles 2025-04-01 2026-03-31 02449699 core:LandBuildings core:OwnedOrFreeholdAssets 2025-03-31 02449699 core:PlantMachinery 2025-03-31 02449699 core:MotorVehicles 2025-03-31 02449699 2025-03-31 02449699 bus:PrivateLimitedCompanyLtd 2025-04-01 2026-03-31 02449699 bus:FRS102 2025-04-01 2026-03-31 02449699 bus:AuditExemptWithAccountantsReport 2025-04-01 2026-03-31 02449699 bus:Director2 2025-04-01 2026-03-31 02449699 bus:SmallCompaniesRegimeForAccounts 2025-04-01 2026-03-31 02449699 bus:FullAccounts 2025-04-01 2026-03-31 xbrli:pure xbrli:shares iso4217:GBP