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Filleted
Registration number: 10746338

Fast-Track Driving School Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2025

 

Fast-Track Driving School Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Fast-Track Driving School Limited

Company Information

Directors

Mr S D Mottram

Mrs A H Mottram

Registered office

53 Glenfields Road
Haverfordwest
SA611EB

 

Fast-Track Driving School Limited

(Registration number: 10746338)
Balance Sheet as at 30 April 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

12,000

18,000

Tangible assets

5

22,201

10,851

 

34,201

28,851

Current assets

 

Cash at bank and in hand

 

1,004

769

Creditors: Amounts falling due within one year

6

(14,114)

(22,801)

Net current liabilities

 

(13,110)

(22,032)

Total assets less current liabilities

 

21,091

6,819

Provisions for liabilities

(4,218)

(2,062)

Net assets

 

16,873

4,757

Capital and reserves

 

Called up share capital

7

102

102

Retained earnings

16,771

4,655

Shareholders' funds

 

16,873

4,757

For the financial year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 August 2025 and signed on its behalf by:
 

.........................................
Mr S D Mottram
Director

.........................................
Mrs A H Mottram
Director

 
     
 

Fast-Track Driving School Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

1

General information

The company is a private company limited by share capital, incorporated in Wales.

The address of its registered office is:
53 Glenfields Road
Haverfordwest
SA611EB

These financial statements were authorised for issue by the Board on 11 August 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Fast-Track Driving School Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Motor vehicles

10% reducing balance

Office equipment

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Fast-Track Driving School Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

 

Fast-Track Driving School Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2024

60,000

60,000

At 30 April 2025

60,000

60,000

Amortisation

At 1 May 2024

42,000

42,000

Amortisation charge

6,000

6,000

At 30 April 2025

48,000

48,000

Carrying amount

At 30 April 2025

12,000

12,000

At 30 April 2024

18,000

18,000

5

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2024

249

2,200

22,400

24,849

Additions

-

-

23,500

23,500

Disposals

-

-

(22,400)

(22,400)

At 30 April 2025

249

2,200

23,500

25,949

Depreciation

At 1 May 2024

205

843

12,950

13,998

Charge for the year

11

339

2,350

2,700

Eliminated on disposal

-

-

(12,950)

(12,950)

At 30 April 2025

216

1,182

2,350

3,748

Carrying amount

At 30 April 2025

33

1,018

21,150

22,201

At 30 April 2024

44

1,357

9,450

10,851

 

Fast-Track Driving School Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

 

10,262

20,529

Other creditors

 

1,524

1,452

Corporation tax liability

 

2,328

820

 

14,114

22,801

7

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

102

102

102

102

       

8

Related party transactions

Transactions with directors

2025

At 1 May 2024
£

Advances to director
£

At 30 April 2025
£

Mrs A H Mottram

Interest free loan with no fixed repayment term

(10,265)

5,133

(5,131)

Mr S D Mottram

Interest free loan with no fixed repayment term

(10,265)

5,133

(5,131)

2024

At 1 May 2023
£

Advances to director
£

At 30 April 2024
£

Mrs A H Mottram

Interest free loan with no fixed repayment term

(11,780)

1,515

(10,265)

Mr S D Mottram

Interest free loan with no fixed repayment term

(11,780)

1,515

(10,265)