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REGISTERED NUMBER: 01545906 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

FUEL CONSERVATION SERVICES
LIMITED

FUEL CONSERVATION SERVICES
LIMITED (REGISTERED NUMBER: 01545906)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FUEL CONSERVATION SERVICES
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: T J Myatt
C L Myatt
O J Chard





SECRETARY: C L Myatt





REGISTERED OFFICE: Unit 1 Anglesey Business Park
Littleworth Road
Cannock
Staffordshire
WS12 1NR





REGISTERED NUMBER: 01545906 (England and Wales)





ACCOUNTANTS: Prime
Chartered Accountants
Corner Oak
1 Homer Road
Solihull
B91 3QG

FUEL CONSERVATION SERVICES
LIMITED (REGISTERED NUMBER: 01545906)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 2,369
Tangible assets 5 401,650 412,339
401,650 414,708

CURRENT ASSETS
Stocks 795,923 627,038
Debtors 6 1,902,239 1,895,499
Cash at bank and in hand 1,585,107 1,331,781
4,283,269 3,854,318
CREDITORS
Amounts falling due within one year 7 1,548,260 1,510,481
NET CURRENT ASSETS 2,735,009 2,343,837
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,136,659

2,758,545

PROVISIONS FOR LIABILITIES 100,412 103,085
NET ASSETS 3,036,247 2,655,460

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,036,147 2,655,360
SHAREHOLDERS' FUNDS 3,036,247 2,655,460

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

FUEL CONSERVATION SERVICES
LIMITED (REGISTERED NUMBER: 01545906)

BALANCE SHEET - continued
31 DECEMBER 2023


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 18 September 2024 and were signed on its behalf by:





C L Myatt - Director


FUEL CONSERVATION SERVICES
LIMITED (REGISTERED NUMBER: 01545906)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Fuel Conservation Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 in relation to a business acquisition in 2017 was written off in 2019 due to the loss of it's main contract. A further acquisition in 2018 is amortised over it's useful economic life of 5 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 - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 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.


FUEL CONSERVATION SERVICES
LIMITED (REGISTERED NUMBER: 01545906)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 46 (2022 - 53 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 137,500
AMORTISATION
At 1 January 2023 135,131
Charge for year 2,369
At 31 December 2023 137,500
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 2,369

FUEL CONSERVATION SERVICES
LIMITED (REGISTERED NUMBER: 01545906)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 578,684 185,174 347,879 1,111,737
Additions 56,810 30,476 - 87,286
Disposals - - (46,390 ) (46,390 )
At 31 December 2023 635,494 215,650 301,489 1,152,633
DEPRECIATION
At 1 January 2023 367,193 130,448 201,757 699,398
Charge for year 40,245 19,339 33,083 92,667
Eliminated on disposal - - (41,082 ) (41,082 )
At 31 December 2023 407,438 149,787 193,758 750,983
NET BOOK VALUE
At 31 December 2023 228,056 65,863 107,731 401,650
At 31 December 2022 211,491 54,726 146,122 412,339

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,570,609 1,580,634
Amounts owed by group undertakings 220,683 220,683
Other debtors 110,947 94,182
1,902,239 1,895,499

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 494,332 606,902
Amounts owed to group undertakings 340,034 331,512
Taxation and social security 549,422 421,908
Other creditors 164,472 150,159
1,548,260 1,510,481

FUEL CONSERVATION SERVICES
LIMITED (REGISTERED NUMBER: 01545906)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 137,591 143,311
Between one and five years 200,181 337,772
337,772 481,083

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
M J Myatt (Deceased)
Balance outstanding at start of year - 623
Amounts advanced - 6,699
Amounts repaid - (7,322 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

T J Myatt
Balance outstanding at start of year - 630
Amounts advanced - 4,470
Amounts repaid - (5,100 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. ULTIMATE CONTROLLING PARTY

The parent company is FCS Investments Limited, registered office Unit 1 Anglesey Business Park, Littleworth Road, Cannock, Staffordshire, WS12 1NR.

The ultimate parent company is FCS Holdings Limited, registered office Unit 1 Anglesey Business Park, Littleworth Road, Cannock, Staffordshire, WS12 1NR.