Company registration number 05070809 (England and Wales)
FLEETMILNE (BIRMINGHAM) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
FLEETMILNE (BIRMINGHAM) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
FLEETMILNE (BIRMINGHAM) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
126,364
142,284
Tangible assets
4
19,744
25,554
146,108
167,838
Current assets
Debtors
5
373,885
311,482
Cash at bank and in hand
6,167
67,953
380,052
379,435
Creditors: amounts falling due within one year
6
(354,286)
(331,613)
Net current assets
25,766
47,822
Total assets less current liabilities
171,874
215,660
Creditors: amounts falling due after more than one year
7
(87,186)
(168,506)
Net assets
84,688
47,154
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
84,588
47,054
Total equity
84,688
47,154
The directors of the company have elected not to include a copy of the profit and loss accounts within the financial statements.

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

FLEETMILNE (BIRMINGHAM) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 9 October 2024 and are signed on its behalf by:
N E Fleet-Milne
Director
Company Registration No. 05070809
FLEETMILNE (BIRMINGHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

FleetMilne (Birmingham) Limited is a private company, limited by shares, incorporated in England and Wales. The registered office is 85-89 Colmore Row, Birmingham, West Midlands, B3 2BB. The company registration number is 05070809.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Website costs
25% straight line
Customer lists
10% straight line
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Short leaseholds
20% on cost
Office equipment
25% on reducing balance
Fixtures and fittings
25% on reducing balance
Computer equipment and website
25% on cost
FLEETMILNE (BIRMINGHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to Statement of income and retained earnings.

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

1.7
Financial instruments
Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Statement of income and retained earnings.

1.8
Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of income and retained earnings, 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

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.

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.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to the Statement of income and retained earnings on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 12 (2022 - 13).

FLEETMILNE (BIRMINGHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
3
Intangible fixed assets
Website
Customer lists
Total
£
£
£
Cost
At 1 January 2023 and 31 December 2023
7,680
140,000
147,680
Amortisation
At 1 January 2023
-
0
5,396
5,396
Amortisation charged for the year
1,920
14,000
15,920
At 31 December 2023
1,920
19,396
21,316
Carrying amount
At 31 December 2023
5,760
120,604
126,364
At 31 December 2022
7,680
134,604
142,284
4
Tangible fixed assets
Short leaseholds
Computer and website
Total
£
£
£
Cost
At 1 January 2023
121,107
213,931
335,038
Additions
-
0
1,462
1,462
At 31 December 2023
121,107
215,393
336,500
Depreciation
At 1 January 2023
121,107
188,377
309,484
Depreciation charged in the year
-
0
7,272
7,272
At 31 December 2023
121,107
195,649
316,756
Carrying amount
At 31 December 2023
-
0
19,744
19,744
At 31 December 2022
-
0
25,554
25,554
FLEETMILNE (BIRMINGHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
9,156
3,714
Other debtors
350,694
301,010
Prepayments and accrued income
14,035
6,758
373,885
311,482

Included within other debtors is £74,050 (2022: £62,727) due from a director of the business. The amount due is interest free and holds no conditions.

6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank and other loans
75,660
70,000
Trade creditors
46,555
27,739
Corporation tax
49,381
44,262
Other taxation and social security
56,556
55,873
Other creditors
38,466
74,372
Accruals and deferred income
87,668
59,367
354,286
331,613

Secured Loans

 

The bank loan is secured by a fixed and floating charge over the assets of the company.

7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank and other loans
87,186
168,506

Secured Loans

 

The bank loan is secured by a fixed and floating charge over the assets of the company.

FLEETMILNE (BIRMINGHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
8
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
80 Ordinary A shares of £1 each
80
80
20 Ordinary B shares of £1 each
20
20
100
100
9
Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administrated fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £7,948 (2022 - £7,843). Contributions totalling £1,958 (2022 - £1,414) were payable to the fund at the balance sheet date and are included within creditors.

10
Operating lease commitments
Lessee

At the reporting date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
279,089
378,668
11
Directors' transactions

During the year, the Company advanced £11,323 (2022 - £25,636) to a director of the business. At the balance sheet date, the amount due to the Company was £74,050 (2022 - £62,727) and is included within other debtors. The amount advanced is interest free and has no conditions.

2023-12-312023-01-01false09 October 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityN Fleet-MilneK J Covefalsefalse050708092023-01-012023-12-31050708092023-12-31050708092022-12-3105070809core:IntangibleAssetsOtherThanGoodwill2023-12-3105070809core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-12-3105070809core:IntangibleAssetsOtherThanGoodwill2022-12-3105070809core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-12-3105070809core:LandBuildings2023-12-3105070809core:OtherPropertyPlantEquipment2023-12-3105070809core:LandBuildings2022-12-3105070809core:OtherPropertyPlantEquipment2022-12-3105070809core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3105070809core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3105070809core:CurrentFinancialInstruments2023-12-3105070809core:CurrentFinancialInstruments2022-12-3105070809core:Non-currentFinancialInstruments2023-12-3105070809core:Non-currentFinancialInstruments2022-12-3105070809core:ShareCapital2023-12-3105070809core:ShareCapital2022-12-3105070809core:RetainedEarningsAccumulatedLosses2023-12-3105070809core:RetainedEarningsAccumulatedLosses2022-12-3105070809core:ShareCapitalOrdinaryShares2023-12-3105070809core:ShareCapitalOrdinaryShares2022-12-3105070809bus:Director12023-01-012023-12-3105070809core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3105070809core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-01-012023-12-3105070809core:PlantMachinery2023-01-012023-12-3105070809core:FurnitureFittings2023-01-012023-12-3105070809core:ComputerEquipment2023-01-012023-12-3105070809core:IntangibleAssetsOtherThanGoodwill2022-12-3105070809core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-12-31050708092022-12-3105070809core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-01-012023-12-3105070809core:LandBuildings2022-12-3105070809core:OtherPropertyPlantEquipment2022-12-3105070809core:LandBuildings2023-01-012023-12-3105070809core:OtherPropertyPlantEquipment2023-01-012023-12-3105070809bus:OrdinaryShareClass12023-12-3105070809bus:OrdinaryShareClass22023-12-3105070809bus:OrdinaryShareClass12023-01-012023-12-3105070809bus:OrdinaryShareClass22023-01-012023-12-3105070809bus:PrivateLimitedCompanyLtd2023-01-012023-12-3105070809bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105070809bus:FRS1022023-01-012023-12-3105070809bus:AuditExemptWithAccountantsReport2023-01-012023-12-3105070809bus:Director22023-01-012023-12-3105070809bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP