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COMPANY REGISTRATION NUMBER: 13686179
FISHER MOTOR FACTORS HOLDINGS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 April 2024
FISHER MOTOR FACTORS HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION
30 April 2024
2024
2023
Note
£
£
Fixed assets
Investments
4
2,215,510
2,215,510
Current assets
Debtors
5
100
100
Creditors: amounts falling due within one year
6
1,715,510
1,715,510
------------
------------
Net current liabilities
1,715,410
1,715,410
------------
------------
Total assets less current liabilities
500,100
500,100
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
500,000
500,000
---------
---------
Shareholders funds
500,100
500,100
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
FISHER MOTOR FACTORS HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 24 July 2024 , and are signed on behalf of the board by:
Mr C A Fisher
Mr I J Fisher
Director
Director
Mr P M Clipsham
Director
Company registration number: 13686179
FISHER MOTOR FACTORS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 4, Kingsley Court, Kingsley Road, Lincoln Fields, Lincoln, Lincolnshire, LN6 3TA, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. No significant judgements or estimates have been made by management in the process of applying the entity's accounting policies that would have a significant effect on the amounts recognised in the financial statements.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Investments
Shares in group undertakings
£
Cost
At 1 May 2023 and 30 April 2024
2,215,510
------------
Impairment
At 1 May 2023 and 30 April 2024
------------
Carrying amount
At 30 April 2024
2,215,510
------------
At 30 April 2023
2,215,510
------------
5. Debtors
2024
2023
£
£
Other debtors
100
100
----
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
965,510
785,510
Other creditors
750,000
930,000
------------
------------
1,715,510
1,715,510
------------
------------
7. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.
8. Controlling party
There is no individual controlling party however the group is under the control of the Directors.