Registered number
03439106
TRANSPORT SERVICES (FLEET MAINTENANCE) LTD
Unaudited Filleted Accounts
31 October 2024
TEMPLETONS (HOLDINGS) LIMITED
CHARTERED ACCOUNTANTS
309 HOE STREET
WALTHAMSTOW
LONDON E17 9BG
TRANSPORT SERVICES (FLEET MAINTENANCE) LTD
Registered number: 03439106
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 1 1
Tangible assets 4 2,701 3,376
2,702 3,377
Current assets
Stocks 18,015 17,765
Debtors 5 141,094 165,701
Cash at bank and in hand 29,859 24,862
188,968 208,328
Creditors: amounts falling due within one year 6 (63,035) (80,550)
Net current assets 125,933 127,778
Total assets less current liabilities 128,635 131,155
Provisions for liabilities (513) (651)
Net assets 128,122 130,504
Capital and reserves
Called up share capital 2 2
Profit and loss account 128,120 130,502
Shareholder's funds 128,122 130,504
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr T J Hearn
Director
Approved by the board on 25 July 2025
TRANSPORT SERVICES (FLEET MAINTENANCE) LTD
Notes to the Accounts
for the year ended 31 October 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Leasehold land and buildings over the lease term
Plant and machinery 20% Reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
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 6 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 November 2023 12,000
At 31 October 2024 12,000
Amortisation
At 1 November 2023 11,999
At 31 October 2024 11,999
Net book value
At 31 October 2024 1
At 31 October 2023 1
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Leasehold Property Plant and machinery etc Total
£ £ £
Cost
At 1 November 2023 3,704 35,063 38,767
At 31 October 2024 3,704 35,063 38,767
Depreciation
At 1 November 2023 3,703 31,688 35,391
Charge for the year - 675 675
At 31 October 2024 3,703 32,363 36,066
Net book value
At 31 October 2024 1 2,700 2,701
At 31 October 2023 1 3,375 3,376
5 Debtors 2024 2023
£ £
Trade debtors 130,851 149,663
Other debtors 10,243 16,038
141,094 165,701
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 30,338 41,731
Taxation and social security costs 22,910 19,510
Other creditors 9,787 19,309
63,035 80,550
7 Controlling party
The company was under the control of Mr T J Hearn , a shareholder and Director throughout the year.
8 Other information
TRANSPORT SERVICES (FLEET MAINTENANCE) LTD is a private company limited by shares and incorporated in England. Its registered office is:
Uunit 4, Buiding 6
Ashleigh Commercial Estate
Westmoor Street, Charlton
London
SE7 8NQ
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