Registered number
04436808
Fletcher Access Limited
Filleted Accounts
31 May 2024
Fletcher Access Limited
Registered number: 04436808
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 583,738 476,288
Current assets
Stocks 1,740 1,740
Debtors 5 38,212 32,350
Cash at bank and in hand 176,659 157,144
216,611 191,234
Creditors: amounts falling due within one year 6 (224,694) (220,835)
Net current liabilities (8,083) (29,601)
Total assets less current liabilities 575,655 446,687
Creditors: amounts falling due after more than one year 7 (77,007) (42,798)
Net assets 498,648 403,889
Capital and reserves
Called up share capital 150 150
Profit and loss account 498,498 403,739
Shareholders' funds 498,648 403,889
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.
S P Fletcher
Director
Approved by the board on 9 October 2024
Fletcher Access Limited
Notes to the Accounts
for the year ended 31 May 2024
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.
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:
Freehold buildings 2% straight line
Plant and machinery 15 or 33% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2023 150,000
At 31 May 2024 150,000
Amortisation
At 1 June 2023 150,000
At 31 May 2024 150,000
Net book value
At 31 May 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 June 2023 338,563 491,431 243,989 1,073,983
Additions - 263,500 - 263,500
Disposals - (266,000) - (266,000)
At 31 May 2024 338,563 488,931 243,989 1,071,483
Depreciation
At 1 June 2023 121,879 304,235 171,581 597,695
Charge for the year 6,771 56,681 18,115 81,567
On disposals - (191,517) - (191,517)
At 31 May 2024 128,650 169,399 189,696 487,745
Net book value
At 31 May 2024 209,913 319,532 54,293 583,738
At 31 May 2023 216,684 187,196 72,408 476,288
5 Debtors 2024 2023
£ £
Trade debtors 36,952 31,090
Other debtors 1,260 1,260
38,212 32,350
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 22,750
Obligations under finance lease and hire purchase contracts 44,167 8,000
Trade creditors 9,050 8,555
Taxation and social security costs 38,536 48,448
Other creditors 122,941 133,082
224,694 220,835
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,757 42,798
Obligations under finance lease and hire purchase contracts 66,250 -
77,007 42,798
8 Related party transactions
Other creditors include amounts due to the directors of the company, Mr S P Fletcher £nil (2023 - £22,871) and Mr A J Fletcher £108,598 (2023 - £128,868).
9 Controlling party
The company is controlled equally by Messrs S P and A J Fletcher.
10 Other information
Fletcher Access Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit A7B Worcester Trading Estate
Blackpole Road
Worcester
WR3 8HR
Fletcher Access Limited 04436808 false 2023-06-01 2024-05-31 2024-05-31 VT Final Accounts July 2024 S P Fletcher No description of principal activity 04436808 2022-06-01 2023-05-31 04436808 core:WithinOneYear 2023-05-31 04436808 core:AfterOneYear 2023-05-31 04436808 core:ShareCapital 2023-05-31 04436808 core:RetainedEarningsAccumulatedLosses 2023-05-31 04436808 2023-06-01 2024-05-31 04436808 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 04436808 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 04436808 bus:Director40 2023-06-01 2024-05-31 04436808 1 2023-06-01 2024-05-31 04436808 2 2023-06-01 2024-05-31 04436808 core:LandBuildings 2023-06-01 2024-05-31 04436808 core:PlantMachinery 2023-06-01 2024-05-31 04436808 core:Vehicles 2023-06-01 2024-05-31 04436808 countries:England 2023-06-01 2024-05-31 04436808 bus:FRS102 2023-06-01 2024-05-31 04436808 bus:FilletedAccounts 2023-06-01 2024-05-31 04436808 2024-05-31 04436808 core:WithinOneYear 2024-05-31 04436808 core:AfterOneYear 2024-05-31 04436808 core:ShareCapital 2024-05-31 04436808 core:RetainedEarningsAccumulatedLosses 2024-05-31 04436808 core:Goodwill 2024-05-31 04436808 core:LandBuildings 2024-05-31 04436808 core:PlantMachinery 2024-05-31 04436808 core:Vehicles 2024-05-31 04436808 2023-05-31 04436808 core:Goodwill 2023-05-31 04436808 core:LandBuildings 2023-05-31 04436808 core:PlantMachinery 2023-05-31 04436808 core:Vehicles 2023-05-31 iso4217:GBP xbrli:pure