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REGISTERED NUMBER: 06090761 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023

FOR

FUELSOFT LIMITED

FUELSOFT LIMITED (REGISTERED NUMBER: 06090761)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023




Page

Company Information 1

Chartered Certified Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


FUELSOFT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: D C Kingsman
J K Allen
G R Highfield
R Taylor
D Priddey





SECRETARY: J K Allen





REGISTERED OFFICE: Unit B Pinewood
Bell Heath Way
Woodgate Business Park
Birmingham
West Midlands
B32 3BZ





REGISTERED NUMBER: 06090761 (England and Wales)





ACCOUNTANTS: French Ludlam & Co Limited
Mountfield House
661 High Street
Kingswinford
West Midlands
DY6 8AL

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
FUELSOFT LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fuelsoft Limited for the year ended 31st March 2023 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Fuelsoft Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fuelsoft Limited and state those matters that we have agreed to state to the Board of Directors of Fuelsoft Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Fuelsoft Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Fuelsoft Limited. You consider that Fuelsoft Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Fuelsoft Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






French Ludlam & Co Limited
Mountfield House
661 High Street
Kingswinford
West Midlands
DY6 8AL


26th October 2023

FUELSOFT LIMITED (REGISTERED NUMBER: 06090761)

STATEMENT OF FINANCIAL POSITION
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,903 7,771
Tangible assets 5 467,042 493,368
Investments 6 462 10,512
472,407 511,651

CURRENT ASSETS
Stocks 12,167 12,691
Debtors 7 952,418 668,023
Cash at bank and in hand 863,659 350,658
1,828,244 1,031,372
CREDITORS
Amounts falling due within one year 8 1,395,346 680,744
NET CURRENT ASSETS 432,898 350,628
TOTAL ASSETS LESS CURRENT
LIABILITIES

905,305

862,279

PROVISIONS FOR LIABILITIES 17,909 22,203
NET ASSETS 887,396 840,076

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 887,296 839,976
SHAREHOLDERS' FUNDS 887,396 840,076

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 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.

FUELSOFT LIMITED (REGISTERED NUMBER: 06090761)

STATEMENT OF FINANCIAL POSITION - continued
31ST MARCH 2023


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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26th October 2023 and were signed on its behalf by:





D C Kingsman - Director


FUELSOFT LIMITED (REGISTERED NUMBER: 06090761)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023

1. STATUTORY INFORMATION

Fuelsoft 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 presentation currency of the financial statements is the Pound Sterling (£).


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 one 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.

Licences and software are being amortised evenly over their estimated useful life of nil years.

Licences and software
Licences acquired in 2007 are being amortised over their estimated useful life of 10 years. Intellectual property rights for Fuelsoft software acquired in 2011 are also being amortised over 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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 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 statement of financial position date.


FUELSOFT LIMITED (REGISTERED NUMBER: 06090761)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

Leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2022 - 29 ) .

4. INTANGIBLE FIXED ASSETS
Licences
and
Goodwill software Totals
£    £    £   
COST
At 1st April 2022
and 31st March 2023 1 363,867 363,868
AMORTISATION
At 1st April 2022 - 356,097 356,097
Amortisation for year - 2,868 2,868
At 31st March 2023 - 358,965 358,965
NET BOOK VALUE
At 31st March 2023 1 4,902 4,903
At 31st March 2022 1 7,770 7,771

The intangible fixed assets relate to the acquisition of licences and software.

FUELSOFT LIMITED (REGISTERED NUMBER: 06090761)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Long to and Computer
leasehold property fittings equipment Totals
£    £    £    £    £   
COST
At 1st April 2022 371,925 54,310 22,270 170,939 619,444
Additions - - 6,485 12,811 19,296
At 31st March 2023 371,925 54,310 28,755 183,750 638,740
DEPRECIATION
At 1st April 2022 8,926 7,124 14,370 95,656 126,076
Charge for year 2,976 2,716 2,263 37,667 45,622
At 31st March 2023 11,902 9,840 16,633 133,323 171,698
NET BOOK VALUE
At 31st March 2023 360,023 44,470 12,122 50,427 467,042
At 31st March 2022 362,999 47,186 7,900 75,283 493,368

6. FIXED ASSET INVESTMENTS

2023 2022
£    £   
Shares in group undertakings - 10,050
Other investments not loans 462 462
462 10,512

Additional information is as follows:
Shares in
group
undertakings
£   
COST
At 1st April 2022 95,059
Disposals (95,059 )
At 31st March 2023 -
PROVISIONS
At 1st April 2022 85,009

Eliminated on disposal (85,009 )
At 31st March 2023 -
NET BOOK VALUE
At 31st March 2023 -
At 31st March 2022 10,050

Investments (neither listed nor unlisted) were as follows:

FUELSOFT LIMITED (REGISTERED NUMBER: 06090761)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

6. FIXED ASSET INVESTMENTS - continued
2023 2022
£    £   
Shares in property management
company 462 462

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 872,557 592,948
Other debtors 79,861 75,075
952,418 668,023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Deferred income 674,369 354,987
Trade creditors 140,835 123,554
Amounts owed to group undertakings - 10,050
Taxation and social security 325,225 177,701
Other creditors 254,917 14,452
1,395,346 680,744

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary £.01 100 100

In the previous year six employees (including two directors, G. Highfield and R. Taylor) were granted options to acquire 1,350 shares at an exercise price of £110.69 per share, under an Enterprise Management Incentive Scheme.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr D Kingsman and Mr J Allen.