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REGISTERED NUMBER: SC366739 (Scotland)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

FVS ENGINEERING LTD

FVS ENGINEERING LTD (REGISTERED NUMBER: SC366739)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2024




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 4


FVS ENGINEERING LTD (REGISTERED NUMBER: SC366739)

ABRIDGED BALANCE SHEET
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,400 3,600
Tangible assets 5 165,400 171,705
167,800 175,305

CURRENT ASSETS
Stocks 9,208 10,769
Debtors 185,770 269,694
Cash at bank 130,956 42,739
325,934 323,202
CREDITORS
Amounts falling due within one year 260,909 271,302
NET CURRENT ASSETS 65,025 51,900
TOTAL ASSETS LESS CURRENT
LIABILITIES

232,825

227,205

CREDITORS
Amounts falling due after more than one
year

(7,322

)

(13,706

)

PROVISIONS FOR LIABILITIES (27,609 ) (37,583 )
NET ASSETS 197,894 175,916

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 197,892 175,914
SHAREHOLDERS' FUNDS 197,894 175,916

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 director acknowledges his 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.

FVS ENGINEERING LTD (REGISTERED NUMBER: SC366739)

ABRIDGED BALANCE SHEET - 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 October 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

FVS ENGINEERING LTD (REGISTERED NUMBER: SC366739)

ABRIDGED BALANCE SHEET - continued
31 October 2024



The financial statements were approved by the director and authorised for issue on 18 March 2025 and were signed by:





J McKean - Director


FVS ENGINEERING LTD (REGISTERED NUMBER: SC366739)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

FVS Engineering Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC366739

Registered office: 22 Backbrae Street
Kilsyth
G65 0NH

2. ACCOUNTING POLICIES

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

Turnover and revenue recognition
Turnover represents net invoiced sales of goods and services, excluding VAT. Revenue is recognised when goods and services are provided to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.


FVS ENGINEERING LTD (REGISTERED NUMBER: SC366739)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 28 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2023
and 31 October 2024 12,000
AMORTISATION
At 1 November 2023 8,400
Amortisation for year 1,200
At 31 October 2024 9,600
NET BOOK VALUE

At 31 October 2024 2,400
At 31 October 2023 3,600

FVS ENGINEERING LTD (REGISTERED NUMBER: SC366739)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2023 373,847
Additions 35,045
At 31 October 2024 408,892
DEPRECIATION
At 1 November 2023 202,142
Charge for year 41,350
At 31 October 2024 243,492
NET BOOK VALUE
At 31 October 2024 165,400
At 31 October 2023 171,705