3 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 198,000 198,000 xbrli:pure xbrli:shares iso4217:GBP 06515696 2023-04-01 2024-03-31 06515696 2024-03-31 06515696 2023-03-31 06515696 2022-04-01 2023-03-31 06515696 2023-03-31 06515696 2022-03-31 06515696 core:NetGoodwill 2023-04-01 2024-03-31 06515696 core:MotorVehicles 2023-04-01 2024-03-31 06515696 bus:Director1 2023-04-01 2024-03-31 06515696 core:NetGoodwill 2024-03-31 06515696 core:MotorVehicles 2023-03-31 06515696 core:MotorVehicles 2024-03-31 06515696 core:WithinOneYear 2024-03-31 06515696 core:WithinOneYear 2023-03-31 06515696 core:AfterOneYear 2024-03-31 06515696 core:AfterOneYear 2023-03-31 06515696 core:ShareCapital 2024-03-31 06515696 core:ShareCapital 2023-03-31 06515696 core:RetainedEarningsAccumulatedLosses 2024-03-31 06515696 core:RetainedEarningsAccumulatedLosses 2023-03-31 06515696 core:MotorVehicles 2023-03-31 06515696 bus:SmallEntities 2023-04-01 2024-03-31 06515696 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06515696 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06515696 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06515696 bus:FullAccounts 2023-04-01 2024-03-31 06515696 core:OfficeEquipment 2023-04-01 2024-03-31 06515696 core:OfficeEquipment 2024-03-31 06515696 core:OfficeEquipment 2023-03-31
COMPANY REGISTRATION NUMBER: 06515696
Fletcher Building Services Ltd
Filleted Unaudited Financial Statements
31 March 2024
Fletcher Building Services Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
3,004
3,997
Current assets
Debtors
7
68,151
82,534
Cash at bank and in hand
5
5
--------
--------
68,156
82,539
Creditors: amounts falling due within one year
8
42,061
52,017
--------
--------
Net current assets
26,095
30,522
--------
--------
Total assets less current liabilities
29,099
34,519
Creditors: amounts falling due after more than one year
9
28,949
34,463
--------
--------
Net assets
150
56
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
50
( 44)
----
----
Shareholders funds
150
56
----
----
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 31 March 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 .
Fletcher Building Services Ltd
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 24 September 2024 , and are signed on behalf of the board by:
Mrs J M Fletcher
Director
Company registration number: 06515696
Fletcher Building Services Ltd
Notes to the Financial Statements
Year ended 31 March 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 Prince of Wales House, 18/19 Salmon Fields Business Village, Royton, Oldham, OL2 6HT.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor Vehicles
-
20% reducing balance
Office Equipment
-
15% reducing balance
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
198,000
---------
Amortisation
At 1 April 2023 and 31 March 2024
198,000
---------
Carrying amount
At 31 March 2024
---------
At 31 March 2023
---------
6. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
19,422
766
20,188
--------
----
--------
Depreciation
At 1 April 2023
15,492
699
16,191
Charge for the year
982
11
993
--------
----
--------
At 31 March 2024
16,474
710
17,184
--------
----
--------
Carrying amount
At 31 March 2024
2,948
56
3,004
--------
----
--------
At 31 March 2023
3,930
67
3,997
--------
----
--------
7. Debtors
2024
2023
£
£
Trade debtors
14,148
54,840
Other debtors
54,003
27,694
--------
--------
68,151
82,534
--------
--------
The directors loan accounts were overdrawn £53,240 (2023: £25,501) at the year end. The maximum overdrawn balance was £95,343 (2023: £25,501). Interest is charged at the official rate of interest on balances exceeding £10,000.
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
25,553
22,216
Trade creditors
9,140
11,822
Corporation tax
4,172
8,758
Social security and other taxes
2,151
8,221
Other creditors
1,045
1,000
--------
--------
42,061
52,017
--------
--------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
28,949
34,463
--------
--------
10. Directors' advances, credits and guarantees
Included within other debtors due within one year are loans to directors totalling £53,240 (2023: £25,501) on which interest has been charged at the official rate of interest on any balances exceeding £10,000. The loans are repayable in full or in part on demand. Dividends totalling £13,300 were paid in the year (2023: £20,000) in respect of shares held by the company's directors.
11. Related party transactions
The company was under the control of Mr Anthony Fletcher and Mr Ian Fletcher throughout the current and previous year, both are directors and shareholders of the company. No other transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.