Company Registration No. 05891936 (England and Wales)
Fareham Self-Drive Limited
Unaudited accounts
for the year ended 31 December 2024
Fareham Self-Drive Limited
Unaudited accounts
Contents
Fareham Self-Drive Limited
Company Information
for the year ended 31 December 2024
Company Number
05891936 (England and Wales)
Registered Office
31 Regent Trade Park, Barwell
Lane, Gosport
Hampshire
PO13 0EQ
Accountants
Taxsense
203 West Street
Fareham
Hants
PO16 0EN
Fareham Self-Drive Limited
Accountants' report
Accountants' report to the director of Fareham Self-Drive Limited on the preparation of the unaudited statutory accounts for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Fareham Self-Drive Limited for the year ended
31 December 2024 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Fareham Self-Drive Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Fareham Self-Drive Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fareham Self-Drive Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Fareham Self-Drive 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 loss of Fareham Self-Drive Limited. You consider that Fareham Self-Drive 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 Fareham Self-Drive 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 statutory accounts.
Taxsense
203 West Street
Fareham
Hants
PO16 0EN
20 February 2025
Fareham Self-Drive Limited
Statement of financial position
as at 31 December 2024
Tangible assets
204,822
216,808
Cash at bank and in hand
3,047
2,545
Creditors: amounts falling due within one year
(97,284)
(96,785)
Net current liabilities
(75,157)
(75,160)
Net assets
129,665
141,648
Called up share capital
1,000
1,000
Profit and loss account
128,665
140,648
Shareholders' funds
129,665
141,648
For the year ending 31 December 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 February 2025 and were signed on its behalf by
Adrian Cooper
Director
Company Registration No. 05891936
Fareham Self-Drive Limited
Notes to the Accounts
for the year ended 31 December 2024
Fareham Self-Drive Limited is a private company, limited by shares, registered in England and Wales, registration number 05891936. The registered office is 31 Regent Trade Park, Barwell, Lane, Gosport, Hampshire, PO13 0EQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% straight line
Plant & machinery
10% reducing balance
Motor vehicles
10% reducing balance
Computer equipment
10% reducing balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Fareham Self-Drive Limited
Notes to the Accounts
for the year ended 31 December 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2024
256,980
3,830
81,617
2,475
344,902
Disposals
-
-
(4,667)
-
(4,667)
At 31 December 2024
256,980
3,830
76,950
2,475
340,235
At 1 January 2024
84,878
3,119
38,221
1,876
128,094
Charge for the year
5,140
71
4,076
60
9,347
On disposals
-
-
(2,028)
-
(2,028)
At 31 December 2024
90,018
3,190
40,269
1,936
135,413
At 31 December 2024
166,962
640
36,681
539
204,822
At 31 December 2023
172,102
711
43,396
599
216,808
Amounts falling due within one year
Other debtors
19,080
19,080
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
88
1,961
Loans from directors
85,508
93,014
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director Loan Account
(93,014)
21,792
14,286
(85,508)
(93,014)
21,792
14,286
(85,508)
8
Average number of employees
During the year the average number of employees was 1 (2023: 0).