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COMPANY REGISTRATION NUMBER: 03272597
Direct Fleet Care (U.K.) Limited
Filleted Unaudited Financial Statements
31 March 2024
Direct Fleet Care (U.K.) Limited
Financial Statements
Year ended 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Direct Fleet Care (U.K.) Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
340,000
470,000
Current assets
Debtors
6
79,938
86,863
Cash at bank and in hand
24,548
28,364
---------
---------
104,486
115,227
Creditors: amounts falling due within one year
7
44,606
45,939
---------
---------
Net current assets
59,880
69,288
---------
---------
Total assets less current liabilities
399,880
539,288
Creditors: amounts falling due after more than one year
8
26,054
46,898
---------
---------
Net assets
373,826
492,390
---------
---------
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
373,726
492,290
---------
---------
Shareholders funds
373,826
492,390
---------
---------
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.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Direct Fleet Care (U.K.) Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 19 March 2025 , and are signed on behalf of the board by:
W J Cousins
Director
Company registration number: 03272597
Direct Fleet Care (U.K.) Limited
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 146 New London Road, Chelmsford, Essex, CM2 0AW.
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 and represents amounts receivable for property rental, stated net of discounts and of Value Added Tax.
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.
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.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Freehold property
£
Cost or valuation
At 1 April 2023
470,000
Revaluations
( 130,000)
---------
At 31 March 2024
340,000
---------
Depreciation
At 1 April 2023 and 31 March 2024
---------
Carrying amount
At 31 March 2024
340,000
---------
At 31 March 2023
470,000
---------
In respect of certain fixed assets stated at valuations, the comparable historical cost and depreciation values are £440,519 (2023: £440,519).
6. Debtors
2024
2023
£
£
Trade debtors
2,400
2,400
Other debtors
77,538
84,463
--------
--------
79,938
86,863
--------
--------
The debtors above include the following amounts falling due after more than one year:
2024
2023
£
£
Other debtors
70,350
77,050
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
20,843
20,843
Accruals and deferred income
2,508
2,470
Corporation tax
2,653
2,878
Social security and other taxes
975
1,225
Director loan accounts
17,627
18,523
--------
--------
44,606
45,939
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
26,054
46,898
--------
--------
The bank loan is secured on the investment property.
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
10. Related party transactions
At the year end the company owed the director £17,627 (2023: £18,523) in the form of a loan account. This loan, which is shown amongst creditors, is interest free and repayable on demand.