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REGISTERED NUMBER: 04864565 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

FSL CONTRACTORS LIMITED

FSL CONTRACTORS LIMITED (REGISTERED NUMBER: 04864565)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FSL CONTRACTORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: M S Pook
Mrs F C Pook





REGISTERED OFFICE: Orway Farm
Kentisbeare
Cullompton
Devon
EX15 2EX





REGISTERED NUMBER: 04864565 (England and Wales)





ACCOUNTANTS: Merlin Accountancy Services Ltd
2nd Floor
33 Longbrook Street
Exeter
Devon
EX4 6AW

FSL CONTRACTORS LIMITED (REGISTERED NUMBER: 04864565)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 169,124 193,089
169,124 193,089

CURRENT ASSETS
Stocks 6,277 6,936
Debtors 6 321,094 308,272
Cash at bank 5,000 5,000
332,371 320,208
CREDITORS
Amounts falling due within one year 7 241,342 262,522
NET CURRENT ASSETS 91,029 57,686
TOTAL ASSETS LESS CURRENT
LIABILITIES

260,153

250,775

CREDITORS
Amounts falling due after more than
one year

8

(58,595

)

(86,590

)

PROVISIONS FOR LIABILITIES 9 (21,947 ) (27,822 )
NET ASSETS 179,611 136,363

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 179,607 136,359
13 179,611 136,363

FSL CONTRACTORS LIMITED (REGISTERED NUMBER: 04864565)

BALANCE SHEET - continued
31 MARCH 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2024 and were signed on its behalf by:





M S Pook - Director


FSL CONTRACTORS LIMITED (REGISTERED NUMBER: 04864565)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

FSL Contractors 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.

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, is
being amortised evenly over its estimated useful life of five 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% 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.

FSL CONTRACTORS LIMITED (REGISTERED NUMBER: 04864565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 15 (2023 - 18 ) .

FSL CONTRACTORS LIMITED (REGISTERED NUMBER: 04864565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 45,000
AMORTISATION
At 1 April 2023
and 31 March 2024 45,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 93,151 189,962 241,787 12,774 537,674
Additions 2,996 - - 548 3,544
At 31 March 2024 96,147 189,962 241,787 13,322 541,218
DEPRECIATION
At 1 April 2023 1,863 159,262 171,754 11,706 344,585
Charge for year 1,922 7,675 17,508 404 27,509
At 31 March 2024 3,785 166,937 189,262 12,110 372,094
NET BOOK VALUE
At 31 March 2024 92,362 23,025 52,525 1,212 169,124
At 31 March 2023 91,288 30,700 70,033 1,068 193,089

FSL CONTRACTORS LIMITED (REGISTERED NUMBER: 04864565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 135,594
DEPRECIATION
At 1 April 2023 72,626
Charge for year 15,742
At 31 March 2024 88,368
NET BOOK VALUE
At 31 March 2024 47,226
At 31 March 2023 62,968

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2024 2023
£    £   
Trade debtors 269,112 265,655
Other debtors 51,982 42,617
321,094 308,272

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 24,594 41,127
Hire purchase contracts 13,447 16,679
Trade creditors 131,531 158,788
Taxation and social security 66,039 33,404
Other creditors 5,731 12,524
241,342 262,522

FSL CONTRACTORS LIMITED (REGISTERED NUMBER: 04864565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
2024 2023
£    £   
Bank loans 43,053 57,601
Hire purchase contracts 15,542 28,989
58,595 86,590

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 21,947 27,822

Deferred
tax
£   
Balance at 1 April 2023 27,822
Credit to Income Statement during year (5,875 )
Balance at 31 March 2024 21,947

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
M S Pook and Mrs F C Pook
Balance outstanding at start of year 647 -
Amounts advanced 16,633 647
Amounts repaid (647 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 16,633 647

During the year the directors had a loan with the company. No interest is charged on this loan and there are no terms for repayment.

FSL CONTRACTORS LIMITED (REGISTERED NUMBER: 04864565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £103,000 (2023 - £103,000) were paid to the directors .

12. ULTIMATE CONTROLLING PARTY

The controlling party is not known.

13. RECONCILIATION OF MOVEMENTS IN RESERVES
2024 2023
£    £   
Profit for the financial year 146,248 69,203
Dividends (103,000 ) (103,000 )
Net addition/(reduction) to reserves 43,248 (33,797 )
Opening reserves 136,363 170,160
Closing reserves 179,611 136,363