IRIS Accounts Production v25.1.3.33 05586655 Board of Directors 1.11.23 31.10.24 31.10.24 false true false false false true true true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh055866552023-10-31055866552024-10-31055866552023-11-012024-10-31055866552022-10-31055866552022-11-012023-10-31055866552023-10-3105586655ns15:EnglandWales2023-11-012024-10-3105586655ns14:PoundSterling2023-11-012024-10-3105586655ns10:Director12023-11-012024-10-3105586655ns10:PrivateLimitedCompanyLtd2023-11-012024-10-3105586655ns10:SmallEntities2023-11-012024-10-3105586655ns10:AuditExempt-NoAccountantsReport2023-11-012024-10-3105586655ns10:SmallCompaniesRegimeForDirectorsReport2023-11-012024-10-3105586655ns10:SmallCompaniesRegimeForAccounts2023-11-012024-10-3105586655ns10:FullAccounts2023-11-012024-10-310558665512023-11-012024-10-3105586655ns10:Director22023-11-012024-10-3105586655ns10:Director32023-11-012024-10-3105586655ns10:RegisteredOffice2023-11-012024-10-3105586655ns5:CurrentFinancialInstruments2024-10-3105586655ns5:CurrentFinancialInstruments2023-10-3105586655ns5:Non-currentFinancialInstruments2024-10-3105586655ns5:Non-currentFinancialInstruments2023-10-3105586655ns5:ShareCapital2024-10-3105586655ns5:ShareCapital2023-10-3105586655ns5:RetainedEarningsAccumulatedLosses2024-10-3105586655ns5:RetainedEarningsAccumulatedLosses2023-10-3105586655ns5:IntangibleAssetsOtherThanGoodwill2023-11-012024-10-3105586655ns5:ComputerSoftware2023-11-012024-10-3105586655ns5:LongLeaseholdAssetsns5:LandBuildings2023-11-012024-10-3105586655ns5:PlantMachinery2023-11-012024-10-3105586655ns5:FurnitureFittings2023-11-012024-10-3105586655ns5:MotorVehicles2023-11-012024-10-3105586655ns5:ComputerEquipment2023-11-012024-10-3105586655ns5:NetGoodwill2023-10-3105586655ns5:ComputerSoftware2023-10-3105586655ns5:NetGoodwill2023-11-012024-10-3105586655ns5:NetGoodwill2024-10-3105586655ns5:ComputerSoftware2024-10-3105586655ns5:NetGoodwill2023-10-3105586655ns5:ComputerSoftware2023-10-3105586655ns5:LongLeaseholdAssetsns5:LandBuildings2023-10-3105586655ns5:PlantMachinery2023-10-3105586655ns5:FurnitureFittings2023-10-3105586655ns5:LongLeaseholdAssetsns5:LandBuildings2024-10-3105586655ns5:PlantMachinery2024-10-3105586655ns5:FurnitureFittings2024-10-3105586655ns5:LongLeaseholdAssetsns5:LandBuildings2023-10-3105586655ns5:PlantMachinery2023-10-3105586655ns5:FurnitureFittings2023-10-3105586655ns5:MotorVehicles2023-10-3105586655ns5:ComputerEquipment2023-10-3105586655ns5:MotorVehicles2024-10-3105586655ns5:ComputerEquipment2024-10-3105586655ns5:MotorVehicles2023-10-3105586655ns5:ComputerEquipment2023-10-3105586655ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-11-012024-10-3105586655ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-10-3105586655ns5:WithinOneYearns5:CurrentFinancialInstruments2024-10-3105586655ns5:WithinOneYearns5:CurrentFinancialInstruments2023-10-3105586655ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-10-3105586655ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-10-3105586655ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-10-3105586655ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-10-3105586655ns5:HirePurchaseContracts2024-10-3105586655ns5:HirePurchaseContracts2023-10-31
REGISTERED NUMBER: 05586655 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st October 2024

for

FOWLER UK (TRADING) LIMITED

FOWLER UK (TRADING) LIMITED (REGISTERED NUMBER: 05586655)






Contents of the Financial Statements
for the Year Ended 31st October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FOWLER UK (TRADING) LIMITED

Company Information
for the Year Ended 31st October 2024







DIRECTORS: Mr D K Fowler
Mrs T D Fowler
Mr W S Fowler





REGISTERED OFFICE: Unit 9 Deanfield Drive
Link 59 Business Park
Clitheroe
BB7 1QJ





REGISTERED NUMBER: 05586655 (England and Wales)





ACCOUNTANTS: BK Plus - Chorley
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

FOWLER UK (TRADING) LIMITED (REGISTERED NUMBER: 05586655)

Balance Sheet
31st October 2024

31.10.24 31.10.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 10,455 287
Tangible assets 5 606,320 279,596
616,775 279,883

CURRENT ASSETS
Stocks 870,173 700,126
Debtors 6 639,173 517,611
Cash at bank and in hand 326,950 217,423
1,836,296 1,435,160
CREDITORS
Amounts falling due within one year 7 1,209,527 1,023,498
NET CURRENT ASSETS 626,769 411,662
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,243,544

691,545

CREDITORS
Amounts falling due after more than one
year

8

(152,234

)

-

PROVISIONS FOR LIABILITIES (116,521 ) (23,231 )
NET ASSETS 974,789 668,314

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 974,689 668,214
SHAREHOLDERS' FUNDS 974,789 668,314

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

FOWLER UK (TRADING) LIMITED (REGISTERED NUMBER: 05586655)

Balance Sheet - continued
31st October 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th April 2025 and were signed on its behalf by:





Mr D K Fowler - Director


FOWLER UK (TRADING) LIMITED (REGISTERED NUMBER: 05586655)

Notes to the Financial Statements
for the Year Ended 31st October 2024

1. STATUTORY INFORMATION

Fowler UK (Trading) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts received for goods supplied and services rendered. Income is recognised when services have been delivered to customers such that risks and rewards of ownership have transferred to them.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Long leasehold - 2% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on cost

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


FOWLER UK (TRADING) LIMITED (REGISTERED NUMBER: 05586655)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Leased assets: the company as lessor
Where assets are leased to a third party giving rights approximating to ownership (finance lease), the lessor recognises as a receivable an amount equal to the net investment in the lease i.e. the minimum lease payments receivable under the lease discounted at the interest rate implicit in the lease. This receivable is reduced as the lessee makes capital repayments over the ter, of the lease.

A finance lease gives rise to two types of income: profit or loss equivalent to the profit or loss resulting from outright sale of the asset being leased, at normal selling prices, reflecting any applicable discounts, and finance income over the lease term.

Leased assets: the company as lessee
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase 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 creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Statement of Comprehensive Income so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

The company also makes payments to the director's own private pension plans. These contributions are also charged to the profit and loss account in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

FOWLER UK (TRADING) LIMITED (REGISTERED NUMBER: 05586655)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments’ of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Computer
Goodwill software Totals
£    £    £   
COST
At 1st November 2023 76,000 16,132 92,132
Additions 10,899 548 11,447
Disposals - (7,510 ) (7,510 )
At 31st October 2024 86,899 9,170 96,069
AMORTISATION
At 1st November 2023 76,000 15,845 91,845
Amortisation for year 910 369 1,279
Eliminated on disposal - (7,510 ) (7,510 )
At 31st October 2024 76,910 8,704 85,614
NET BOOK VALUE
At 31st October 2024 9,989 466 10,455
At 31st October 2023 - 287 287

FOWLER UK (TRADING) LIMITED (REGISTERED NUMBER: 05586655)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1st November 2023 157,740 448,882 18,740
Additions - 36,432 6,170
Reclassification/transfer - (1,639 ) -
At 31st October 2024 157,740 483,675 24,910
DEPRECIATION
At 1st November 2023 53,896 297,923 16,097
Charge for year 3,155 53,028 1,630
Reclassification/transfer - (327 ) -
At 31st October 2024 57,051 350,624 17,727
NET BOOK VALUE
At 31st October 2024 100,689 133,051 7,183
At 31st October 2023 103,844 150,959 2,643

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st November 2023 18,969 69,907 714,238
Additions 381,424 5,117 429,143
Reclassification/transfer - - (1,639 )
At 31st October 2024 400,393 75,024 1,141,742
DEPRECIATION
At 1st November 2023 2,363 64,363 434,642
Charge for year 40,645 2,649 101,107
Reclassification/transfer - - (327 )
At 31st October 2024 43,008 67,012 535,422
NET BOOK VALUE
At 31st October 2024 357,385 8,012 606,320
At 31st October 2023 16,606 5,544 279,596

FOWLER UK (TRADING) LIMITED (REGISTERED NUMBER: 05586655)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 247,579
At 31st October 2024 247,579
DEPRECIATION
Charge for year 25,939
At 31st October 2024 25,939
NET BOOK VALUE
At 31st October 2024 221,640

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 536,073 455,639
Other debtors 45,509 41,500
Prepayments and accrued income 57,591 20,472
639,173 517,611

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Hire purchase contracts (see note 9) 63,363 -
Trade creditors 502,136 658,302
Amounts owed to group undertakings 200,000 100,000
Tax 74,110 20,387
Social security and other taxes 187,025 82,174
Other creditors 31,584 38,611
Directors' current accounts 303 46,443
Accruals and deferred income 151,006 77,581
1,209,527 1,023,498

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.24 31.10.23
£    £   
Hire purchase contracts (see note 9) 152,234 -

FOWLER UK (TRADING) LIMITED (REGISTERED NUMBER: 05586655)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2024

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase contracts
31.10.24 31.10.23
£    £   
Net obligations repayable:
Within one year 63,363 -
Between one and five years 152,234 -
215,597 -

At 31 October 2024 the company had future minimum lease payments under non-cancellable operating leases as follows:

31.10.24 31.10.23
£    £   

Within one year - 5,976
Between one and five years - -
- 5,976

At 31 October 2024 the company was owed future minimum lease payments under non-cancellable operating leases relating to the rental of equipment as follows:
31.10.24 31.10.23
£    £   

Within one year 252,882 240,763
Between one and five years 676,380 687,931
In more than five years 56,199 101,381
985,461 1,030,075

10. SECURED DEBTS

The following secured debts are included within creditors:

31.10.24 31.10.23
£    £   
Hire purchase contracts 215,597 -

Hire purchase liabilities are secured against the assets to which they relate.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 31 October 2024, the company owed its directors £303 (2023: £46,443). No interest has been charged to the company in respect of this loan and it is repayable on demand.

FOWLER UK (TRADING) LIMITED (REGISTERED NUMBER: 05586655)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2024

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mr D K Fowler.

The ultimate controlling party is Fowler (Holdings) Limited.

The registered office of Fowler (Holdings) Limited is Unit 9 Deanfield Drive, Link 59 Business Park, Clitheroe, BB7 1QJ.