Registered number
11628482
FLEET VEHICLE LOGISTICS LTD
FINANCIAL STATEMENTS FOR THE YEAR
31 OCTOBER 2023
DVL & CO ACCOUNTANT
48 MELFORD ROAD
WALTHAMSTOW
LONDON E17 7EL
FLEET VEHICLE LOGISTICS LTD
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Profit and loss account 3
Balance sheet 4
Statenment of changes in equity 5
Notes to the accounts 6 - 8
For directors informations only:
Detailed profit and loss accounts 9 - 10
Accountants 11
FLEET VEHICLE LOGISTICS LTD
Company Information
Directors
Mr Ibrarr Ahmed
Secretary
Mr Ibrarr Ahmed
Accountants
DVL & CO
48
Melford Road
London
United Kingdom
E17 7EL
Bankers
Lloyds Bank Plc
PO Box 1000
Andover
BX1 1LT
Registered office
52A Top Floor Flat
High Street
Watton
Thatford
IP25 6AE
Registered number
11628482
FLEET VEHICLE LOGISTICS LTD
Registered number: 11628482
Directors' Report
The directors present their report and accounts for the year ended 31 October 2023.
Principal activities
The company's principal activity during the year was that of brackdown pick-up, removel services.
Directors
The following persons served as directors during the year:
Mr Ibrarr Ahmed
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 28 July 2024 and signed by its order.
Mr Ibrarr Ahmed
Director
Secretary
FLEET VEHICLE LOGISTICS LTD
Profit and Loss Account
for the year ended 31 October 2023
2023 2022
£ £
Turnover 59,569 18,203
Cost of sales (13,003) (4,640)
Gross profit 46,566 13,563
Administrative expenses (83,675) (13,253)
Operating (loss)/profit (37,109) 310
(Loss)/profit before taxation (37,109) 310
Tax on (loss)/profit - -
(Loss)/profit for the financial year (37,109) 310
CONTINUING OPERATIONS
None of the company's activities were acquired or discontionued during the
above two financial years.
Total recognised gains or losses
The company made no recognised gains or losses other than the profit/loss for the
above two financial years.
FLEET VEHICLE LOGISTICS LTD
Registered number: 11628482
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 96,290 8,953
Current assets
Debtors 4 10,112 1,494
Cash at bank and in hand 456 3,014
10,568 4,508
Creditors: amounts falling due within one year 5 (54,995) (13,051)
Net current liabilities (44,427) (8,543)
Total assets less current liabilities 51,863 410
Creditors: amounts falling due after more than one year 6 (88,562) -
Net (liabilities)/assets (36,699) 410
Capital and reserves
Called up share capital 100 100
Profit and loss account (36,799) 310
Shareholders' funds (36,699) 410
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Ibrarr Ahmed
Director
Approved by the board on 28 July 2024
FLEET VEHICLE LOGISTICS LTD
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery Written down value 25%
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 November 2022 9,550
Additions 119,433
At 31 October 2023 128,983
Depreciation
At 1 November 2022 597
Charge for the year 32,096
At 31 October 2023 32,693
Net book value
At 31 October 2023 96,290
At 31 October 2022 8,953
4 Debtors 2023 2022
£ £
VAT repayment 10,112 1,494
5 Creditors: amounts falling due within one year
Bank loans and overdrafts 220 -
Trade creditors 1,981 100
Other creditors 52,794 12,951
54,995 13,051
6 Creditors: amounts falling due after one year
Obligations under finance lease and hire purchase contracts 88,562 -
7 Loans
Creditors include:
Obligations under finance lease and hire purchase contracts 88,562 -
A legal charge dated 17 April 2023 and 9 October 2023 containing fixed and floating charges secures the assets of the company and a legal charge over the fixed assets.
8 Other information
FLEET VEHICLE LOGISTICS LTD is a private company limited by shares and incorporated in England. Its registered office is:
52A Top Floor Flat
High Street
Watton
Thatford
IP25 6AE
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