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Registered number: 05524824
Fleet Efficiency Limited
ABRIDGED Financial Statements
For The Year Ended 30 June 2024
C K R
Chartered Certified Accountants
C K R House
70 East Hill
Dartford
Kent
DA1 1RZ
Contents
Page
Accountants' Report 1
Abridged Balance Sheet 2—3
Notes to the Abridged Financial Statements 4—6
Page 1
Accountants' Report
Report to the director on the preparation of the unaudited statutory accounts of Fleet Efficiency Limited for the year ended 30 June 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Fleet Efficiency Limited which comprise the Profit and Loss Account, the Balance Sheet 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of Fleet Efficiency Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Fleet Efficiency Limited and state those matters that we have agreed to state to the director of Fleet Efficiency Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fleet Efficiency Limited and its director as a body for our work or for this report.
It is your duty to ensure that Fleet Efficiency Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Fleet Efficiency Limited . You consider that Fleet Efficiency 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 accounts of Fleet Efficiency 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 financial statements.
Signed
3 October 2024
C K R
Chartered Certified Accountants
C K R House
70 East Hill
Dartford
Kent
DA1 1RZ
Page 1
Page 2
Abridged Balance Sheet
Registered number: 05524824
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,008,772 1,034,396
1,008,772 1,034,396
CURRENT ASSETS
Stocks 33,022 34,500
Debtors 579,388 895,265
Cash at bank and in hand 42,881 10,001
655,291 939,766
Creditors: Amounts Falling Due Within One Year (828,765 ) (814,417 )
NET CURRENT ASSETS (LIABILITIES) (173,474 ) 125,349
TOTAL ASSETS LESS CURRENT LIABILITIES 835,298 1,159,745
Creditors: Amounts Falling Due After More Than One Year (566,401 ) (717,541 )
NET ASSETS 268,897 442,204
CAPITAL AND RESERVES
Called up share capital 6 200 200
Profit and Loss Account 268,697 442,004
SHAREHOLDERS' FUNDS 268,897 442,204
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Page 3
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 30 June 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Michael James
Director
3 October 2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Abridged Financial Statements
1. General Information
Fleet Efficiency Limited Registered number 05524824 is a limited by shares company incorporated in England & Wales. The Registered Office is Eclipse Park, Sittingbourne Road, Maidstone, ME14 3EN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% reducing balance basis
Fixtures & Fittings 25% reducing balance basis
Computer Equipment 25% reducing balance basis
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 6)
6 6
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4. Tangible Assets
Total
£
Cost
As at 1 July 2023 2,361,278
Additions 382,953
Disposals (376,610 )
As at 30 June 2024 2,367,621
Depreciation
As at 1 July 2023 1,326,882
Provided during the period 336,271
Disposals (304,304 )
As at 30 June 2024 1,358,849
Net Book Value
As at 30 June 2024 1,008,772
As at 1 July 2023 1,034,396
Included above are assets held under finance leases.
5. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 361,287 334,222
Later than one year and not later than five years 534,722 616,603
896,009 950,825
896,009 950,825
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
100 Ordinary B shares of £ 1.00 each 100 100
200 200
7. Pension Commitments
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund.
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8. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 43,000 71,400
Page 6