Registered number
12788074
FWC Maintenance Limited
Filleted Accounts
31 August 2024
FWC Maintenance Limited
Registered number: 12788074
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 105,701 136,345
Investments 4 67,667 27,667
173,368 164,012
Current assets
Debtors 5 245,519 194,283
Cash at bank and in hand 21,844 91,881
267,363 286,164
Creditors: amounts falling due within one year 6 (313,272) (356,278)
Net current liabilities (45,909) (70,114)
Total assets less current liabilities 127,459 93,898
Creditors: amounts falling due after more than one year 7 (69,763) (83,556)
Provisions for liabilities (3,095) (9,267)
Net assets 54,601 1,075
Capital and reserves
Called up share capital 100 100
Profit and loss account 54,501 975
Shareholders' funds 54,601 1,075
The director is 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 director acknowledges his 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.
FW Conradie
Director
Approved by the board on 29 November 2024
FWC Maintenance Limited
Notes to the Accounts
for the year ended 31 August 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:
Motor vehicles 25% reducing value
Fixtures, fittings, tools and equipment 25% reducing value
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 5
3 Tangible fixed assets
Equipment Motor vehicles Total
£ £ £
Cost
At 1 September 2023 9,505 193,589 203,094
Additions 4,589 - 4,589
At 31 August 2024 14,094 193,589 207,683
Depreciation
At 1 September 2023 4,183 62,566 66,749
Charge for the year 2,478 32,755 35,233
At 31 August 2024 6,661 95,321 101,982
Net book value
At 31 August 2024 7,433 98,268 105,701
At 31 August 2023 5,322 131,023 136,345
4 Investments
Other
investments
£
Cost
At 1 September 2023 27,667
Disposals 40,000
At 31 August 2024 67,667
5 Debtors 2024 2023
£ £
Trade debtors 56,903 101,601
Other debtors 188,616 92,682
245,519 194,283
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 23,994 22,099
Obligations under finance lease and hire purchase contracts 17,780 21,768
Trade creditors 42,798 77,883
Taxation and social security costs 185,913 190,495
Other creditors 42,787 44,033
313,272 356,278
7 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 69,763 83,556
8 Controlling party
The company is controlled by the director.
9 Other information
FWC Maintenance Limited is a private company limited by shares and incorporated in England. Its registered office is:
37 Beaconsfield Road
Esher
Surrey
KT10 0PN
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