Registered number
03894928
Fidelity Solutions Ltd
Unaudited Filleted Accounts
31 December 2024
Fidelity Solutions Ltd
Registered number: 03894928
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 51,624 22,246
Current assets
Debtors 4 28,305 29,833
Cash at bank and in hand 30,848 12,629
59,153 42,462
Creditors: amounts falling due within one year 5 (23,745) (16,262)
Net current assets 35,408 26,200
Total assets less current liabilities 87,032 48,446
Creditors: amounts falling due after more than one year 6 (44,518) (29,862)
Provisions for liabilities (9,809) (2,580)
Net assets 32,705 16,004
Capital and reserves
Called up share capital 7 7
Profit and loss account 32,698 15,997
Shareholders' funds 32,705 16,004
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S P Hodge
Director
Approved by the board on 9 April 2025
Fidelity Solutions Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment 15% / 20% / 33% straight line
Motor vehicles 25% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2024 211,534 10,350 221,884
Additions 1,041 35,749 36,790
At 31 December 2024 212,575 46,099 258,674
Depreciation
At 1 January 2024 189,288 10,350 199,638
Charge for the year 6,663 749 7,412
At 31 December 2024 195,951 11,099 207,050
Net book value
At 31 December 2024 16,624 35,000 51,624
At 31 December 2023 22,246 - 22,246
4 Debtors 2024 2023
£ £
Trade debtors 14,249 18,963
Other debtors 14,056 10,870
28,305 29,833
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,520 5,520
Obligations under finance lease and hire purchase contracts 5,150 -
Trade creditors 8,946 2,195
Taxation and social security costs 2,283 6,712
Other creditors 1,846 1,835
23,745 16,262
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 24,348 29,862
Obligations under finance lease and hire purchase contracts 20,170 -
44,518 29,862
7 Related party transactions
At the year end the company was owed £9,660 from S P Hodge and L M Hodge jointly (2023 £10,084). The loan is interest free and repayable on demand.
8 Controlling party
The company is controlled by S P Hodge and L M Hodge as directors and shareholders in the company.
9 Other information
Fidelity Solutions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Crosspark 52 Telford Way
Bedford
Bedfordshire
MK42 0PQ
Fidelity Solutions Ltd 03894928 false 2024-01-01 2024-12-31 2024-12-31 VT Final Accounts April 2025 S P Hodge No description of principal activity 03894928 2023-01-01 2023-12-31 03894928 core:WithinOneYear 2023-12-31 03894928 core:AfterOneYear 2023-12-31 03894928 core:ShareCapital 2023-12-31 03894928 core:RetainedEarningsAccumulatedLosses 2023-12-31 03894928 2024-01-01 2024-12-31 03894928 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03894928 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 03894928 bus:Director40 2024-01-01 2024-12-31 03894928 1 2024-01-01 2024-12-31 03894928 2 2024-01-01 2024-12-31 03894928 core:PlantMachinery 2024-01-01 2024-12-31 03894928 core:Vehicles 2024-01-01 2024-12-31 03894928 countries:England 2024-01-01 2024-12-31 03894928 bus:FRS102 2024-01-01 2024-12-31 03894928 bus:FilletedAccounts 2024-01-01 2024-12-31 03894928 2024-12-31 03894928 core:WithinOneYear 2024-12-31 03894928 core:AfterOneYear 2024-12-31 03894928 core:ShareCapital 2024-12-31 03894928 core:RetainedEarningsAccumulatedLosses 2024-12-31 03894928 core:PlantMachinery 2024-12-31 03894928 core:Vehicles 2024-12-31 03894928 2023-12-31 03894928 core:PlantMachinery 2023-12-31 03894928 core:Vehicles 2023-12-31 iso4217:GBP xbrli:pure