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REGISTERED NUMBER: 01669577 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

F. S. DISTRIBUTION LIMITED

F. S. DISTRIBUTION LIMITED (REGISTERED NUMBER: 01669577)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Company Information 1

Accountants' Report 2

Statement of Financial Position 3 to 4

Notes to the Financial Statements 5 to 10


F. S. DISTRIBUTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: Mr D A Vernau
Mr H D Vernau





REGISTERED OFFICE: Dormer Road
Thame Industrial Estate
Thame
Oxfordshire
OX9 3FS





REGISTERED NUMBER: 01669577 (England and Wales)





ACCOUNTANTS: Seymour Taylor Limited
First Floor North
40 Oxford Road
High Wycombe
Buckinghamshire
HP11 2EE

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
F. S. DISTRIBUTION LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of F. S. Distribution Limited for the year ended 31 October 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of F. S. Distribution Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of F. S. Distribution Limited and state those matters that we have agreed to state to the Board of Directors of F. S. Distribution Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than F. S. Distribution Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that F. S. Distribution Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of F. S. Distribution Limited. You consider that F. S. Distribution Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of F. S. Distribution Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Seymour Taylor Limited
First Floor North
40 Oxford Road
High Wycombe
Buckinghamshire
HP11 2EE


25 February 2025

F. S. DISTRIBUTION LIMITED (REGISTERED NUMBER: 01669577)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 927,455 805,320

CURRENT ASSETS
Stocks 42,987 41,982
Debtors 5 523,050 582,198
Cash at bank and in hand 16,647 5,195
582,684 629,375
CREDITORS
Amounts falling due within one year 6 834,251 773,051
NET CURRENT LIABILITIES (251,567 ) (143,676 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

675,888

661,644

CREDITORS
Amounts falling due after more than one
year

7

(341,903

)

(348,626

)

PROVISIONS FOR LIABILITIES (38,553 ) (33,160 )
NET ASSETS 295,432 279,858

CAPITAL AND RESERVES
Called up share capital 10 120,100 120,100
Retained earnings 175,332 159,758
SHAREHOLDERS' FUNDS 295,432 279,858

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 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.

F. S. DISTRIBUTION LIMITED (REGISTERED NUMBER: 01669577)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 2024


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 25 February 2025 and were signed on its behalf by:





Mr D A Vernau - Director


F. S. DISTRIBUTION LIMITED (REGISTERED NUMBER: 01669577)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


1. STATUTORY INFORMATION

F S Distribution Limited is a private company limited by shares and incorporated in England and Wales. The address of the company's registered office is Dormer Road, Thame Industrial Estate, Thame, Oxfordshire, OX9 3FS. The registered number is 01669577.

The presentation currency of these financial statements is Sterling (£), being the currency of the primary economic market in which the entity operates (its functional currency). All amounts in these financial statements have been rounded to the nearest pound unless stated otherwise.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors have assessed expected future cashflows, giving due consideration to all relevant factors affecting the company. The directors have considered the potential impact on the company as well as its capital resources and believe that the company has adequate resources in place to continue in operation for at least twelve months from the date of approval of the financial statements.

Although at the statement of financial position date the company had net current liabilities of £248,715, the directors believe it is appropriate for the financial statements to be prepared on the going concern basis as the company is able to rely on the support of its shareholders.

Turnover
Turnover represents the total value of services supplied during the year, excluding value added tax. Turnover from the sale of services is recognised when they have been delivered.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated
useful life.

Improvements to property - 5 years
Plant and machinery - reducing balance - 20% and reducing balance - 15%
Fixtures and fittings - straight line - 33% and reducing balance - 15%
Motor vehicles - reducing balance - 25% and reducing balance - 15%
Stands - straight line - 33%

Assets are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the income statement unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Stocks
Stocks is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

F. S. DISTRIBUTION LIMITED (REGISTERED NUMBER: 01669577)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of comprehensive income, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company contributes to defined contribution pension arrangements for its employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the statement of comprehensive income.

Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the statement of comprehensive income on a straight line basis.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2023 - 44 ) .

F. S. DISTRIBUTION LIMITED (REGISTERED NUMBER: 01669577)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 November 2023 15,590 115,537 38,948
Additions - 52,178 6,165
Disposals - (9,395 ) (492 )
At 31 October 2024 15,590 158,320 44,621
DEPRECIATION
At 1 November 2023 15,590 51,936 26,484
Charge for year - 18,380 6,346
Eliminated on disposal - (6,510 ) (492 )
At 31 October 2024 15,590 63,806 32,338
NET BOOK VALUE
At 31 October 2024 - 94,514 12,283
At 31 October 2023 - 63,601 12,464

Motor
vehicles Stands Totals
£    £    £   
COST
At 1 November 2023 1,180,375 19,300 1,369,750
Additions 238,181 - 296,524
Disposals (133,405 ) - (143,292 )
At 31 October 2024 1,285,151 19,300 1,522,982
DEPRECIATION
At 1 November 2023 451,120 19,300 564,430
Charge for year 128,121 - 152,847
Eliminated on disposal (114,748 ) - (121,750 )
At 31 October 2024 464,493 19,300 595,527
NET BOOK VALUE
At 31 October 2024 820,658 - 927,455
At 31 October 2023 729,255 - 805,320


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 399,898 479,706
Other debtors 123,152 102,492
523,050 582,198

F. S. DISTRIBUTION LIMITED (REGISTERED NUMBER: 01669577)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 23,334 40,000
Hire purchase contracts (see note 8) 238,315 252,887
Trade creditors 442,041 415,565
Taxation and social security 119,397 54,295
Other creditors 11,164 10,304
834,251 773,051

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 39,999 63,333
Hire purchase contracts (see note 8) 301,904 285,293
341,903 348,626

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 238,315 252,887
Between one and five years 301,904 285,293
540,219 538,180

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 63,333 103,333
Hire purchase contracts 540,219 538,180
603,552 641,513

Bank loans are secured under the terms of the Government's coronavirus business interruption loan scheme ("CBILS").

The obligations under hire purchase contracts are secured on the assets concerned.

F. S. DISTRIBUTION LIMITED (REGISTERED NUMBER: 01669577)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
120,100 Ordinary £1 120,100 120,100

11. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies not included in the statement of financial position amount to £480,000 (2023 - £621,187). The operating lease payments falling due for payment within one year total £144,000 (2023 - £141,167) and falling due in over one year total £336,000 (2023 - £480,000).

12. PROVISIONS FOR LIABILITIES

20242023
£   £   
Deferred taxation
Accelerated capital allowances219,354185,021
Tax losses carried forward(180,801)(151,861)
38,55333,160


13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2024 and 31 October 2023:

2024 2023
£    £   
Mr D A Vernau
Balance outstanding at start of year 485 1,424
Amounts advanced 16,342 13,608
Amounts repaid (16,543 ) (14,547 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 284 485

Mr H D Vernau
Balance outstanding at start of year 3,750 -
Amounts advanced 857 3,813
Amounts repaid (4,607 ) (63 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 3,750

F. S. DISTRIBUTION LIMITED (REGISTERED NUMBER: 01669577)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr A J Vernau
Balance outstanding at start of year 35 -
Amounts advanced 4,590 35
Amounts repaid (4,625 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 35

This loan is interest free and repayable on demand.