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EASY FLEET LIMITED

Registered Number
11187924
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

EASY FLEET LIMITED
Company Information
for the year from 1 March 2023 to 29 February 2024

Director

PRICE, Phillip Anthony

Registered Address

Easy Fleet Ltd
Unit 10 Palmerston Workshops, Palmerston Road
Barry
CF63 2YZ

Registered Number

11187924 (England and Wales)
EASY FLEET LIMITED
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets316,60724,910
16,60724,910
Current assets
Debtors474,804162,825
Cash at bank and on hand35,494109,733
510,298272,558
Creditors amounts falling due within one year4(397,408)(231,436)
Net current assets (liabilities)112,89041,122
Total assets less current liabilities129,49766,032
Creditors amounts falling due after one year5(22,783)(33,840)
Net assets106,71432,192
Capital and reserves
Called up share capital11
Profit and loss account106,71332,191
Shareholders' funds106,71432,192
The financial statements were approved and authorised for issue by the Board of Directors on 21 May 2025, and are signed on its behalf by:
PRICE, Phillip Anthony
Director
Registered Company No. 11187924
EASY FLEET LIMITED
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Vehicles4
Office Equipment4
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20242023
Average number of employees during the year55
3.Tangible fixed assets

Vehicles

Office Equipment

Total

£££
Cost or valuation
At 01 March 2334,2635,87440,137
At 29 February 2434,2635,87440,137
Depreciation and impairment
At 01 March 239,3535,87415,227
Charge for year8,303-8,303
At 29 February 2417,6565,87423,530
Net book value
At 29 February 2416,607-16,607
At 28 February 2324,910-24,910
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables47,4323,634
Bank borrowings and overdrafts6,0006,000
Taxation and social security194,97292,349
Finance lease and HP contracts8,2369,704
Other creditors11,703648
Accrued liabilities and deferred income129,065119,101
Total397,408231,436
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts7,52113,443
Other creditors15,26220,397
Total22,78333,840
6.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts15,26220,397