Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-31truefalseNo description of principal activityfalse2023-06-012525trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01658752 2023-06-01 2024-05-31 01658752 2022-06-01 2023-05-31 01658752 2024-05-31 01658752 2023-05-31 01658752 2022-06-01 01658752 c:Director4 2023-06-01 2024-05-31 01658752 c:Director5 2023-06-01 2024-05-31 01658752 d:Buildings 2023-06-01 2024-05-31 01658752 d:Buildings 2024-05-31 01658752 d:Buildings 2023-05-31 01658752 d:Buildings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 01658752 d:Buildings d:LongLeaseholdAssets 2023-06-01 2024-05-31 01658752 d:PlantMachinery 2023-06-01 2024-05-31 01658752 d:PlantMachinery 2024-05-31 01658752 d:PlantMachinery 2023-05-31 01658752 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 01658752 d:MotorVehicles 2023-06-01 2024-05-31 01658752 d:MotorVehicles 2024-05-31 01658752 d:MotorVehicles 2023-05-31 01658752 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 01658752 d:FurnitureFittings 2023-06-01 2024-05-31 01658752 d:FurnitureFittings 2024-05-31 01658752 d:FurnitureFittings 2023-05-31 01658752 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 01658752 d:ComputerEquipment 2023-06-01 2024-05-31 01658752 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 01658752 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-01 2024-05-31 01658752 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-05-31 01658752 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-31 01658752 d:FreeholdInvestmentProperty 2024-05-31 01658752 d:FreeholdInvestmentProperty 2023-05-31 01658752 d:CurrentFinancialInstruments 2024-05-31 01658752 d:CurrentFinancialInstruments 2023-05-31 01658752 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 01658752 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 01658752 d:ShareCapital 2024-05-31 01658752 d:ShareCapital 2023-05-31 01658752 d:RevaluationReserve 2024-05-31 01658752 d:RevaluationReserve 2023-05-31 01658752 d:RetainedEarningsAccumulatedLosses 2024-05-31 01658752 d:RetainedEarningsAccumulatedLosses 2023-05-31 01658752 c:FRS102 2023-06-01 2024-05-31 01658752 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 01658752 c:FullAccounts 2023-06-01 2024-05-31 01658752 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 01658752 d:WithinOneYear 2024-05-31 01658752 d:WithinOneYear 2023-05-31 01658752 d:BetweenOneFiveYears 2024-05-31 01658752 d:BetweenOneFiveYears 2023-05-31 01658752 d:AcceleratedTaxDepreciationDeferredTax 2024-05-31 01658752 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 01658752 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-06-01 2024-05-31 01658752 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 01658752









P.R. FLEET SERVICES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

 
P.R. FLEET SERVICES LIMITED
REGISTERED NUMBER: 01658752

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
15,350
22,050

Tangible assets
 5 
140,470
161,737

Investment property
 6 
275,000
275,000

  
430,820
458,787

Current assets
  

Stocks
 7 
41,540
40,806

Debtors: amounts falling due within one year
 8 
474,225
384,075

Cash at bank and in hand
  
362,913
330,418

  
878,678
755,299

Creditors: amounts falling due within one year
 9 
(334,846)
(264,414)

Net current assets
  
 
 
543,832
 
 
490,885

Total assets less current liabilities
  
974,652
949,672

Provisions for liabilities
  

Deferred tax
 10 
(2,459)
(2,459)

Net assets
  
972,193
947,213


Capital and reserves
  

Called up share capital 
  
20,000
20,000

Revaluation reserve
  
28,540
28,540

Profit and loss account
  
923,653
898,673

  
972,193
947,213


Page 1

 
P.R. FLEET SERVICES LIMITED
REGISTERED NUMBER: 01658752
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 February 2025.




................................................
Mr C J Taylor
................................................
Mr P J Taylor
Director
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
P.R. FLEET SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

P.R. Fleet Services Limited ("the Company")  is a private company limited by shares and incorporated in England and Wales. The address of its registered office is 3 Hanbury Drive, Leytonstone House, Leytonstone, London, E11 1GA. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Computer software
-
20%
straight line

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model, other than investment properties, are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
P.R. FLEET SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives on the following annual bases:

Freehold property
-
4% straight line
Leasehold property
-
6.7% - 33.3% straight line
Plant and machinery
-
20% straight line
Motor vehicles
-
33.3% reducing balance
Fixtures and fittings
-
50% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

 
2.5

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

 
2.6

Stocks

Stocks are valued at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. 
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of comprehensive income.  

 
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

 
2.9

Creditors

Short term creditors are measured at the transaction price.

Page 4

 
P.R. FLEET SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.10

Government grants

Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.11

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.13

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.14

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
P.R. FLEET SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.16

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



3.


Employees

The average monthly number of employees, including directors, during the year was 25 (2023 - 25).

Page 6

 
P.R. FLEET SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Intangible assets




Computer software

£



Cost


At 1 June 2023
33,500



At 31 May 2024

33,500



Amortisation


At 1 June 2023
11,450


Charge for the year on owned assets
6,700



At 31 May 2024

18,150



Net book value



At 31 May 2024
15,350



At 31 May 2023
22,050



Page 7

 
P.R. FLEET SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Tangible fixed assets





Land and buildings
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost


At 1 June 2023
238,536
136,460
246,406
56,976
678,378


Additions
-
2,322
20,350
-
22,672



At 31 May 2024

238,536
138,782
266,756
56,976
701,050



Depreciation


At 1 June 2023
184,292
113,546
162,076
56,727
516,641


Charge for the year on owned assets
3,650
7,658
32,631
-
43,939



At 31 May 2024

187,942
121,204
194,707
56,727
560,580



Net book value



At 31 May 2024
50,594
17,578
72,049
249
140,470



At 31 May 2023
54,244
22,914
84,330
249
161,737

Page 8

 
P.R. FLEET SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 June 2023
275,000



At 31 May 2024
275,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
244,001
244,001


7.


Stocks

2024
2023
£
£

Finished goods and goods for resale
41,540
40,806



8.


Debtors

2024
2023
£
£


Trade debtors
424,405
358,394

Other debtors
34,822
14,759

Prepayments
14,998
10,922

474,225
384,075


Page 9

 
P.R. FLEET SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
115,342
98,032

Corporation tax
62,358
38,731

Other taxation and social security
110,500
84,023

Other creditors
18,466
14,039

Accruals
28,180
29,589

334,846
264,414



10.


Deferred taxation




2024
2023


£

£






At beginning of year
(2,459)
(2,459)



At end of year
(2,459)
(2,459)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Revaluation of investment property
(2,459)
(2,459)


11.


Contingent liabilities

The Company is liable for any dilapidation under the conditions of its premises lease. The directors are unable to quantify the extent of any dilapidation until the term of the lease has expired. 


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £54,650 (2023 - £43,141). There were no outstanding contributions at either balance sheet date.

Page 10

 
P.R. FLEET SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

13.


Commitments under operating leases

At 31 May 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
37,950
37,950

Later than 1 year and not later than 5 years
31,625
69,575

69,575
107,525


14.


Related party transactions

Included within other creditors is an amount of £1,500 (2023 - £2,253) due to the directors of the company. There was no interest charged in respect of the above amount.
Included within other debtors is an amount of £20,063
 (2023 - £Nil) due from the directors of the company. Interest has been charged at HMRC official rate.
Included within other creditors is an amount of £16,852 
(2023 - £11,672) due to shareholders holding a participating interest in the company who are not directors of the Company. 

 
Page 11