Complete Restoration Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04575589 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

FOR

COMPLETE RESTORATION LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

J R Dunn

Mrs M Dunn

Registered office:

First Floor

44 High Street

Newport Pagnell

Buckinghamshire

MK16 8AQ

Registered number:

04575589 (England and Wales)

Accountants:

Clark Pritchard

First Floor

44 High Street

Newport Pagnell

Buckinghamshire

MK16 8AQ

Fixed assets

Intangible assets

4

27,827

31,614

Tangible assets

5

22,030

22,332

49,857

53,946

Current assets

Debtors

6

93,377

20,591

Cash at bank

-

64,535

93,377

85,126

Creditors

Amounts falling due within one year

7

88,126

75,572

Net current assets

5,251

9,554

Total assets less current liabilities

55,108

63,500

Creditors

Amounts falling due after more than one year

8

40,000

50,000

Net assets

15,108

13,500

Capital and reserves

Called up share capital

2

2

Retained earnings

15,106

13,498

Shareholders' funds

15,108

13,500

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 May 2022 and were signed on its behalf by:

J R Dunn - Director

1.	Statutory information

Complete Restoration 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Long leasehold

-

not provided

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

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.

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 4 (2020 - 4 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 November 2020

and 31 October 2021

75,750

Amortisation

At 1 November 2020

44,136

Amortisation for year

3,787

At 31 October 2021

47,923

Net book value

At 31 October 2021

27,827

At 31 October 2020

31,614

5.	Tangible fixed assets

Fixtures

Long

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

Cost

At 1 November 2020

15,165

61,332

14,135

42,070

132,702

Additions

-

3,015

-

-

3,015

At 31 October 2021

15,165

64,347

14,135

42,070

135,717

Depreciation

At 1 November 2020

-

55,996

12,304

42,070

110,370

Charge for year

-

2,532

785

-

3,317

At 31 October 2021

-

58,528

13,089

42,070

113,687

Net book value

At 31 October 2021

15,165

5,819

1,046

-

22,030

At 31 October 2020

15,165

5,336

1,831

-

22,332

6.

Debtors: amounts falling due within one year

2021

2020

£

£

Trade debtors

26,043

20,591

Other debtors

67,334

-

93,377

20,591

7.

Creditors: amounts falling due within one year

2021

2020

£

£

Bank loans and overdrafts

16,502

-

Trade creditors

9,509

17,361

Tax

1,992

-

Social security and other taxes

825

48

VAT

28,931

31,057

Other creditors

8,776

5,474

Directors' current accounts

19,091

19,133

Accruals and deferred income

2,500

2,499

88,126

75,572

8.

Creditors: amounts falling due after more than one year

2021

2020

£

£

Bank loans - 1-2 years

10,000

10,000

Bank loans - 2-5 years

30,000

40,000

40,000

50,000

9.	Ultimate controlling party

The ultimate controlling party is J R Dunn.