Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31truefalseNo description of principal activity2022-06-012524trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01658752 2022-06-01 2023-05-31 01658752 2021-06-01 2022-05-31 01658752 2023-05-31 01658752 2022-05-31 01658752 2021-06-01 01658752 c:Director1 2022-06-01 2023-05-31 01658752 c:Director4 2022-06-01 2023-05-31 01658752 d:Buildings 2022-06-01 2023-05-31 01658752 d:Buildings 2023-05-31 01658752 d:Buildings 2022-05-31 01658752 d:Buildings d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 01658752 d:Buildings d:LongLeaseholdAssets 2022-06-01 2023-05-31 01658752 d:PlantMachinery 2022-06-01 2023-05-31 01658752 d:PlantMachinery 2023-05-31 01658752 d:PlantMachinery 2022-05-31 01658752 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 01658752 d:MotorVehicles 2022-06-01 2023-05-31 01658752 d:MotorVehicles 2023-05-31 01658752 d:MotorVehicles 2022-05-31 01658752 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 01658752 d:FurnitureFittings 2022-06-01 2023-05-31 01658752 d:FurnitureFittings 2023-05-31 01658752 d:FurnitureFittings 2022-05-31 01658752 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 01658752 d:ComputerEquipment 2022-06-01 2023-05-31 01658752 d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 01658752 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-06-01 2023-05-31 01658752 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-31 01658752 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-05-31 01658752 d:FreeholdInvestmentProperty 2023-05-31 01658752 d:FreeholdInvestmentProperty 2022-05-31 01658752 d:CurrentFinancialInstruments 2023-05-31 01658752 d:CurrentFinancialInstruments 2022-05-31 01658752 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 01658752 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 01658752 d:ShareCapital 2023-05-31 01658752 d:ShareCapital 2022-05-31 01658752 d:RevaluationReserve 2023-05-31 01658752 d:RevaluationReserve 2022-05-31 01658752 d:RetainedEarningsAccumulatedLosses 2023-05-31 01658752 d:RetainedEarningsAccumulatedLosses 2022-05-31 01658752 c:FRS102 2022-06-01 2023-05-31 01658752 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 01658752 c:FullAccounts 2022-06-01 2023-05-31 01658752 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 01658752 d:WithinOneYear 2023-05-31 01658752 d:WithinOneYear 2022-05-31 01658752 d:BetweenOneFiveYears 2023-05-31 01658752 d:BetweenOneFiveYears 2022-05-31 01658752 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2022-06-01 2023-05-31 01658752 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 01658752 d:AcceleratedTaxDepreciationDeferredTax 2022-05-31 01658752 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Registered number: 01658752









P.R. FLEET SERVICES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

 
P.R. FLEET SERVICES LIMITED
REGISTERED NUMBER: 01658752

BALANCE SHEET
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
22,050
22,450

Tangible assets
 5 
161,737
170,835

Investment property
 6 
275,000
275,000

  
458,787
468,285

Current assets
  

Stocks
 7 
40,806
27,200

Debtors: amounts falling due within one year
 8 
384,075
369,994

Cash at bank and in hand
  
330,418
307,438

  
755,299
704,632

Creditors: amounts falling due within one year
 9 
(264,414)
(232,026)

Net current assets
  
 
 
490,885
 
 
472,606

Total assets less current liabilities
  
949,672
940,891

Provisions for liabilities
  

Deferred tax
 10 
(2,459)
(2,459)

Net assets
  
947,213
938,432


Capital and reserves
  

Called up share capital 
  
20,000
20,000

Revaluation reserve
  
28,540
28,540

Profit and loss account
  
898,673
889,892

  
947,213
938,432


Page 1

 
P.R. FLEET SERVICES LIMITED
REGISTERED NUMBER: 01658752
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 February 2024.




................................................
Mr J P Taylor
................................................
Mr P J Taylor
Director
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
P.R. FLEET SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

P.R. Fleet Services Limited ("the Company")  is a private company limited by shares and incorporated in England and Wales. The address of its registered office is 3 Hanbury Drive, Leytonstone House, Leytonstone, London, E11 1GA. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Computer software
-
20%
straight line

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model, other than investment properties, are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
P.R. FLEET SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives on the following annual bases:

Freehold property
-
4% straight line
Leasehold property
-
6.7% - 33.3% straight line
Plant and machinery
-
20% straight line
Motor vehicles
-
33.3% reducing balance
Fixtures and fittings
-
50% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

 
2.5

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

 
2.6

Stocks

Stocks are valued at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. 
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of comprehensive income.  

 
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

 
2.9

Creditors

Short term creditors are measured at the transaction price.

Page 4

 
P.R. FLEET SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.10

Government grants

Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.11

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.13

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.14

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
P.R. FLEET SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.16

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 25 (2022 - 24).

Page 6

 
P.R. FLEET SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

4.


Intangible assets




Computer software

£



Cost


At 1 June 2022
27,500


Additions
6,000



At 31 May 2023

33,500



Amortisation


At 1 June 2022
5,050


Charge for the year on owned assets
6,400



At 31 May 2023

11,450



Net book value



At 31 May 2023
22,050



At 31 May 2022
22,450



Page 7

 
P.R. FLEET SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

5.


Tangible fixed assets





Land and buildings
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost


At 1 June 2022
238,536
121,685
238,745
56,976
655,942


Additions
-
14,775
23,197
-
37,972


Disposals
-
-
(15,536)
-
(15,536)



At 31 May 2023

238,536
136,460
246,406
56,976
678,378



Depreciation


At 1 June 2022
180,642
106,275
141,733
56,457
485,107


Charge for the year on owned assets
3,650
7,271
32,739
270
43,930


Disposals
-
-
(12,396)
-
(12,396)



At 31 May 2023

184,292
113,546
162,076
56,727
516,641



Net book value



At 31 May 2023
54,244
22,914
84,330
249
161,737



At 31 May 2022
57,894
15,410
97,012
519
170,835

Page 8

 
P.R. FLEET SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

6.


Investment property


Freehold investment property

£



Valuation


At 1 June 2022
275,000



At 31 May 2023
275,000

The 2023 valuations were made by the directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
244,001
244,001


7.


Stocks

2023
2022
£
£

Finished goods and goods for resale
40,806
27,200



8.


Debtors

2023
2022
£
£


Trade debtors
358,394
330,971

Other debtors
14,759
14,759

Prepayments
10,922
24,264

384,075
369,994


Page 9

 
P.R. FLEET SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
98,032
83,211

Corporation tax
38,731
40,677

Other taxation and social security
84,023
88,405

Other creditors
14,039
11,775

Accruals
29,589
7,958

264,414
232,026



10.


Deferred taxation




2023
2022


£

£






At beginning of year
(2,459)
(2,459)



At end of year
(2,459)
(2,459)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Revaluation of investment property
(2,459)
(2,459)


11.


Contingent liabilities

The Company is liable for any dilapidation under the conditions of its premises lease. The directors are unable to quantify the extent of any dilapidation until the term of the lease has expired. 


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £43,141 (2022 - £40,967). There were no outstanding contributions at either balance sheet date.

Page 10

 
P.R. FLEET SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

13.


Commitments under operating leases

At 31 May 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
37,950
37,950

Later than 1 year and not later than 5 years
69,575
107,525

107,525
145,475


14.


Related party transactions

Included within other creditors is an amount of £2,253 (2022 - £5,598) due to the directors of the company. There was no interest charged in respect of the above amount. 
Included within other creditors is an amount of £11,672 
(2022 - £6,063) due to shareholders holding a participating interest in the company who are not directors of the Company. 

 
Page 11