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Registration number: 07702122

Fletchers Facilities Limited

Financial Statements

for the Year Ended 31 December 2024

Brebners
Chartered Accountants & Statutory Auditor
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

 

Fletchers Facilities Limited

Statement of Financial Position as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

223,356

318,014

Current assets

 

Debtors

7

431,043

632,824

Cash at bank and in hand

 

1,025,162

978,208

 

1,456,205

1,611,032

Creditors: Amounts falling due within one year

8

(630,057)

(976,696)

Net current assets

 

826,148

634,336

Total assets less current liabilities

 

1,049,504

952,350

Creditors: Amounts falling due after more than one year

8

-

(61,775)

Provisions for liabilities

(52,929)

(76,407)

Net assets

 

996,575

814,168

Capital and reserves

 

Called up share capital

1

1

Retained earnings

996,574

814,167

Shareholders' funds

 

996,575

814,168

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

 

Fletchers Facilities Limited

Statement of Financial Position as at 31 December 2024

Approved and authorised by the Board on 1 April 2025 and signed on its behalf by:
 

.........................................

R K Fletcher

Director

.........................................

M J Fletcher

Director

Company registration number: 07702122

 

Fletchers Facilities Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1st Floor Jubilee Lodge
21 Jubilee Way
Chessington
Surrey
KT9 1TR

The principal activity of the company is that of commercial and industrial plumbing, heating and ventilation engineers.

2

Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 2 April 2025 was Martin Widdowson, who signed for and on behalf of Brebners.

3

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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

Going concern

The statement of financial position at 31 December 2024 shows the company had net total assets amounting to £996,575 including cash at bank of £1,025,162.

The company continues to trade profitably and the directors have assessed that the company has sufficient working capital for a period of at least 12 months from the date of approval of the financial statements.

On the basis of the above, and after making enquiries, the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

 

Fletchers Facilities Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises turnover from plumbing, heating and ventilation services on the date that contractual obligations are fulfilled and it becomes probable that economic benefit will flow to the company.

Government grants

Grants are accounted for under the accruals model. Grants of a revenue nature are recognised in other income in the same period as related expenditure.

Tax

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

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fixtures and fittings

15% to 33% reducing balance

Motor Vehicles

33% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Fletchers Facilities Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Finance leases and hire purchase

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Statement of Financial Position as a finance lease obligation.

Lease payments are apportioned between finance costs in the Income Statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Assets held under hire purchase contracts are capitalised at the lesser of fair value or present value of minimum lease payments in the statement of financial position. The present value of the minimum lease payments is calculated using the interest rate implicit in the lease. A corresponding liability is recognised at the same value in the statement of financial position. The asset is then depreciated over its useful life.

The minimum lease payments are apportioned between the finance charge recognised in the income statement and the reduction of the outstanding liability using the effective interest method. The finance charge in each period is allocated so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Fletchers Facilities Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

4

Staff numbers

The average number of persons employed by the company during the year was 25 (2023 - 30).

5

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

100,164

90,743

6

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

31,083

665,600

696,683

Additions

30,887

-

30,887

Disposals

-

(138,983)

(138,983)

At 31 December 2024

61,970

526,617

588,587

Depreciation

At 1 January 2024

25,694

352,975

378,669

Charge for the year

4,413

95,751

100,164

Eliminated on disposal

-

(113,602)

(113,602)

At 31 December 2024

30,107

335,124

365,231

Carrying amount

At 31 December 2024

31,863

191,493

223,356

At 31 December 2023

5,389

312,625

318,014

 

Fletchers Facilities Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

7

Debtors

2024
£

2023
£

Trade debtors

174,324

387,281

Other debtors

256,719

245,543

431,043

632,824

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Loans and borrowings

9

62,967

99,223

Trade creditors

 

212,945

168,968

Amounts owed to group undertakings

 

-

300,000

Taxation and social security

 

269,003

300,352

Other creditors

 

85,142

108,153

 

630,057

976,696

Creditors: amounts falling due after more than one year

2024
£

2023
£

Loans and borrowings

9

-

61,775

9

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Hire purchase obligations

62,967

99,223


 

2024
£

2023
£

Non-current loans and borrowings

Hire purchase obligations

-

61,775

Obligations under hire purchase and finance lease contracts are secured on the assets involved.

10

Related party transactions

Exemptions is taken under FRS 102 paragraph 1AC.35 not to disclose transactions or amounts falling due with companies which are wholly owned within the group.