IRIS Accounts Production v23.4.0.336 SC366739 director 1.11.22 31.10.23 31.10.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3667392022-10-31SC3667392023-10-31SC3667392022-11-012023-10-31SC3667392021-10-31SC3667392021-11-012022-10-31SC3667392022-10-31SC366739ns15:Scotland2022-11-012023-10-31SC366739ns14:PoundSterling2022-11-012023-10-31SC366739ns10:Director12022-11-012023-10-31SC366739ns10:PrivateLimitedCompanyLtd2022-11-012023-10-31SC366739ns10:SmallEntities2022-11-012023-10-31SC366739ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-31SC366739ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-31SC366739ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-31SC366739ns10:FullAccounts2022-11-012023-10-31SC36673912022-11-012023-10-31SC366739ns5:CurrentFinancialInstruments2023-10-31SC366739ns5:CurrentFinancialInstruments2022-10-31SC366739ns5:Non-currentFinancialInstruments2023-10-31SC366739ns5:Non-currentFinancialInstruments2022-10-31SC366739ns5:ShareCapital2023-10-31SC366739ns5:ShareCapital2022-10-31SC366739ns5:RetainedEarningsAccumulatedLosses2023-10-31SC366739ns5:RetainedEarningsAccumulatedLosses2022-10-31SC366739ns10:RegisteredOffice2022-11-012023-10-31SC366739ns5:NetGoodwill2022-11-012023-10-31SC366739ns5:IntangibleAssetsOtherThanGoodwill2022-11-012023-10-31SC366739ns5:PlantMachinery2022-11-012023-10-31SC366739ns5:FurnitureFittings2022-11-012023-10-31SC366739ns5:MotorVehicles2022-11-012023-10-31SC366739ns5:NetGoodwill2022-10-31SC366739ns5:NetGoodwill2023-10-31SC366739ns5:NetGoodwill2022-10-31SC366739ns5:PlantMachinery2022-10-31SC366739ns5:FurnitureFittings2022-10-31SC366739ns5:MotorVehicles2022-10-31SC366739ns5:PlantMachinery2023-10-31SC366739ns5:FurnitureFittings2023-10-31SC366739ns5:MotorVehicles2023-10-31SC366739ns5:PlantMachinery2022-10-31SC366739ns5:FurnitureFittings2022-10-31SC366739ns5:MotorVehicles2022-10-31
REGISTERED NUMBER: SC366739 (Scotland)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

FVS ENGINEERING LTD

FVS ENGINEERING LTD (REGISTERED NUMBER: SC366739)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


FVS ENGINEERING LTD (REGISTERED NUMBER: SC366739)

BALANCE SHEET
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,600 4,800
Tangible assets 5 171,705 133,145
175,305 137,945

CURRENT ASSETS
Stocks 6 10,769 7,916
Debtors 7 269,694 201,012
Cash at bank 42,739 126,567
323,202 335,495
CREDITORS
Amounts falling due within one year 8 271,302 275,360
NET CURRENT ASSETS 51,900 60,135
TOTAL ASSETS LESS CURRENT
LIABILITIES

227,205

198,080

CREDITORS
Amounts falling due after more than one
year

9

(13,706

)

(19,096

)

PROVISIONS FOR LIABILITIES (37,583 ) (23,949 )
NET ASSETS 175,916 155,035

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 175,914 155,033
SHAREHOLDERS' FUNDS 175,916 155,035

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

FVS ENGINEERING LTD (REGISTERED NUMBER: SC366739)

BALANCE SHEET - continued
31 October 2023



The financial statements were approved by the director and authorised for issue on 2 April 2024 and were signed by:





J McKean - Director


FVS ENGINEERING LTD (REGISTERED NUMBER: SC366739)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

FVS Engineering Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC366739

Registered office: 22 Backbrae Street
Kilsyth
G65 0NH

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 and revenue recognition
Turnover represents net invoiced sales of goods and services, excluding VAT. Revenue is recognised when goods and services are provided to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten 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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

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 balance sheet date.


FVS ENGINEERING LTD (REGISTERED NUMBER: SC366739)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 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 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 28 (2022 - 25 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 12,000
AMORTISATION
At 1 November 2022 7,200
Amortisation for year 1,200
At 31 October 2023 8,400
NET BOOK VALUE
At 31 October 2023 3,600
At 31 October 2022 4,800

FVS ENGINEERING LTD (REGISTERED NUMBER: SC366739)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 November 2022 124,803 11,319 157,900 294,022
Additions 79,825 - - 79,825
At 31 October 2023 204,628 11,319 157,900 373,847
DEPRECIATION
At 1 November 2022 70,928 7,947 82,002 160,877
Charge for year 25,410 675 15,180 41,265
At 31 October 2023 96,338 8,622 97,182 202,142
NET BOOK VALUE
At 31 October 2023 108,290 2,697 60,718 171,705
At 31 October 2022 53,875 3,372 75,898 133,145

6. STOCKS
31.10.23 31.10.22
£    £   
Stocks 10,769 7,916

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 269,694 201,012

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Hire purchase contracts 6,385 13,376
Trade creditors 68,406 7,497
Social security and other taxes 21,761 25,520
VAT 28,616 69,636
Other creditors 70,582 92,332
Accrued expenses 75,552 66,999
271,302 275,360

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Hire purchase contracts 13,706 19,096