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Fitzgeralds Vehicles Limited
 
         Directors' Report and Unaudited Financial Statements
 
for the financial year ended 31 December 2024



Fitzgeralds Vehicles Limited
DIRECTORS AND OTHER INFORMATION

 
Directors John Fitzgerald
Steven Fitzgerald
Gary Fitzgerald
 
 
Company Registration Number 12011000
 
 
Registered Office Plantation Road
Burscough Industrial Estate
Ormskirk
L408JT
United Kingdom
 
 
Business Address Plantation Road
Burscough Industrial Estate
Ormskirk
L40 8JT
United Kingdom
 
 
Accountants Cuddy, O'Leary & Rigney
Chartered Accountants
3003 Euro Business Park
Little Island
Co. Cork
T45 FX94
 
 
Bankers National Westminster Bank Plc
  Barrow in Furness
  Bolton Customer Service Centre
  PO Box 2027 Parklands
  De Havilland Way
  Bolton
  BL6 4YU
  United Kingdom



Fitzgeralds Vehicles Limited
DIRECTORS' REPORT
for the financial year ended 31 December 2024

 
The directors present their report and the unaudited financial statements for the financial year ended 31 December 2024.
     
Directors
The directors who served during the financial year are as follows:
     
John Fitzgerald
Steven Fitzgerald
Gary Fitzgerald
   
There were no changes in shareholdings between 31 December 2024 and the date of signing the financial statements.
     
In accordance with the Constitution, the directors retire by rotation and, being eligible, offer themselves for re-election.
     
Political Contributions
The company did not make any disclosable political donations in the current financial year.
     
Statement of Directors' Responsibilities
     
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
     
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:
- select suitable accounting policies and apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
     
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
     
Special provisions relating to small companies
The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
     
     
On behalf of the board
     
     
John Fitzgerald
Director
     
     
Steven Fitzgerald
Director
     
26 August 2025



Fitzgeralds Vehicles Limited

CHARTERED ACCOUNTANTS REPORT
to the Board of Directors on the Compilation of the unaudited financial statements of Fitzgeralds Vehicles Limited
for the financial year ended 31 December 2024
 
In accordance with the engagement letter dated 26 August 2025 and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of the company for the financial year ended 31 December 2024 as set out on pages 6 to 14 which comprise the Profit and Loss Account, the Balance Sheet, the Reconciliation of Shareholders' Funds and the related notes from the company's accounting records and from information and explanations you have given to us.
 
This report is made solely to the Board of Directors of Fitzgeralds Vehicles Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company’s Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.
 
We have carried out this engagement in accordance with guidance issued by Chartered Accountants Ireland and have complied with the relevant ethical guidance laid down by Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.
 
You have acknowledged on the Balance Sheet for the year ended 31 December 2024 your duty to ensure that Fitzgeralds Vehicles Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Fitzgeralds Vehicles Limited. You consider that Fitzgeralds Vehicles Limited is exempt from the statutory audit requirement for the financial year.
 
We have not been instructed to carry out an audit or a review of the financial statements of Fitzgeralds Vehicles Limited. For this reason, we have not verified the adequacy, accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
 
 
 
CUDDY, O'LEARY & RIGNEY
Chartered Accountants and Statutory Audit Firm
3003 Euro Business Park
Little Island
Co. Cork
T45 FX94
 
26 August 2025



Fitzgeralds Vehicles Limited
PROFIT AND LOSS ACCOUNT
for the financial year ended 31 December 2024
2024 2023
Notes £ £

Turnover 2,884,783 1,598,711
 
Cost of sales (2,767,541) (1,458,807)
───────── ─────────
Gross profit 117,242 139,904
 
Administrative expenses (117,719) (137,073)
───────── ─────────
Operating (loss)/profit (477) 2,831
 
Interest receivable and similar income 2,838 1,059
───────── ─────────
Profit before taxation 2,361 3,890
 
Tax on profit (2,043) (1,090)
───────── ─────────
Profit for the financial year 318 2,800
───────── ─────────
Total comprehensive income 318 2,800
    ═════════   ═════════



Fitzgeralds Vehicles Limited
Company Registration Number: 12011000
BALANCE SHEET
as at 31 December 2024

2024 2023
Notes £ £
 
Fixed Assets
Intangible assets 4 99,835 99,835
Tangible assets 5 40,557 70,529
───────── ─────────
Fixed Assets 140,392 170,364
───────── ─────────
 
Current Assets
Stocks 6 9,000 9,000
Debtors 7 119,268 867,770
Cash and cash equivalents 877,690 397,515
───────── ─────────
1,005,958 1,274,285
───────── ─────────
Creditors: amounts falling due within one year 8 (1,032,236) (1,330,853)
───────── ─────────
Net Current Liabilities (26,278) (56,568)
───────── ─────────
Total Assets less Current Liabilities 114,114 113,796
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings 114,014 113,696
───────── ─────────
Equity attributable to owners of the company 114,114 113,796
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 26 August 2025 and signed on its behalf by
           
           
John Fitzgerald          
Director          
           
           
Steven Fitzgerald
Director
           



Fitzgeralds Vehicles Limited
RECONCILIATION OF SHAREHOLDERS' FUNDS
as at 31 December 2024

Called up Retained Total
share earnings
capital
£ £ £
 
At 1 January 2023 100 110,896 110,996
───────── ───────── ─────────
Profit for the financial year - 2,800 2,800
───────── ───────── ─────────
At 31 December 2023 100 113,696 113,796
  ───────── ───────── ─────────
Profit for the financial year - 318 318
  ───────── ───────── ─────────
At 31 December 2024 100 114,014 114,114
  ═════════ ═════════ ═════════



Fitzgeralds Vehicles Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2024

   
1. General Information
 
Fitzgeralds Vehicles Limited is a company limited by shares incorporated in the United Kingdom. The registered office of the company is Plantation Road, Burscough Industrial Estate, Ormskirk, L408JT, United Kingdom. The activities of the company consist of the manufacture of vehicle bodies and trailers. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 December 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Intangible assets
Intangible assets are valued at cost less accumulated amortisation.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 15% Straight line
  Motor vehicles - 20% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Research and development
Development expenditure is written off in the same year unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period from which the company is expected to benefit.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 4, (2023 - 4).
 
  2024 2023
  Number Number
 
Management 1 1
Maufacturing activities 3 3
  ───────── ─────────
  4 4
  ═════════ ═════════
       
4. Intangible assets
  Development  
  Costs Total
  £ £
Cost
At 1 January 2024 99,835 99,835
  ───────── ─────────
 
At 31 December 2024 99,835 99,835
  ───────── ─────────
Net book value
At 31 December 2024 99,835 99,835
  ═════════ ═════════
At 31 December 2023 99,835 99,835
  ═════════ ═════════
         
5. Tangible assets
  Plant and Motor Total
  machinery vehicles  
       
  £ £ £
Cost
At 1 January 2024 25,531 130,713 156,244
  ───────── ───────── ─────────
 
At 31 December 2024 25,531 130,713 156,244
  ───────── ───────── ─────────
Depreciation
At 1 January 2024 15,945 69,770 85,715
Charge for the financial year 3,830 26,142 29,972
  ───────── ───────── ─────────
At 31 December 2024 19,775 95,912 115,687
  ───────── ───────── ─────────
Net book value
At 31 December 2024 5,756 34,801 40,557
  ═════════ ═════════ ═════════
At 31 December 2023 9,586 60,943 70,529
  ═════════ ═════════ ═════════
       
6. Stocks 2024 2023
  £ £
 
Work in progress 5,000 5,000
Finished goods and goods for resale 4,000 4,000
  ───────── ─────────
  9,000 9,000
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
7. Debtors 2024 2023
  £ £
 
Trade debtors 96,348 845,571
Called up share capital not paid 100 100
Prepayments and accrued income 22,820 22,099
  ───────── ─────────
  119,268 867,770
  ═════════ ═════════
       
8. Creditors 2024 2023
Amounts falling due within one year £ £
 
Bank overdrafts 1,305 2,315
Trade creditors 916,869 1,257,321
Taxation and social security costs (Note 9) 103,230 59,952
Directors' current accounts 2,000 2,000
Other creditors 832 1,265
Accruals 8,000 8,000
  ───────── ─────────
  1,032,236 1,330,853
  ═════════ ═════════
       
9. Taxation and social security 2024 2023
  £ £
 
Creditors:
VAT 100,832 58,096
Corporation tax 2,043 1,090
PAYE / NI 355 766
  ───────── ─────────
  103,230 59,952
  ═════════ ═════════
       
10. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 December 2024.
   
11. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.



Fitzgeralds Vehicles Limited
SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS
TRADING STATEMENT
for the financial year ended 31 December 2024
2024 2023
£ £

Sales 2,884,783 1,598,711
───────── ─────────
       
Cost of sales
Opening stock and work-in-progress 9,000   9,000
Purchases 2,824,336 1,573,247
Purchases (116,012) (220,000)
Wages and salaries 51,714   93,315
Social security costs 2,846   7,736
Depreciation of tangible assets 3,830   3,830
Carriage inwards 827 679
  ─────────   ─────────
  2,776,541   1,467,807
Closing stock and work-in-progress (9,000)   (9,000)
  ─────────   ─────────
  2,767,541   1,458,807
  ─────────   ─────────
       
Gross profit 117,242   139,904
  ─────────   ─────────
Gross profit Percentage 4.1%   8.8%
  ─────────   ─────────
       
Administrative expenses
Rent payable - 10,950
Rent - Factory 44,833 56,042
Service charges 53 185
Insurance 13,249 11,722
Light and heat - 674
Repairs and maintenance 3,337 13,321
Printing, postage and stationery 230 -
Advertising - 8,000
Telephone 2,303 3,499
Computer costs 1,294 499
Motor expenses 9,436 5,623
Travelling and entertainment 6,125 5,120
Legal and professional 450 2,393
Accountancy 4,748 3,500
Bank charges 557 495
Profit/loss on exchange - (13,141)
General expenses 4,962 2,049
Depreciation of tangible assets 26,142   26,142
  ─────────   ─────────
  117,719   137,073
  ─────────   ─────────
       
Miscellaneous income
Bank interest 2,838   1,059
  ─────────   ─────────
       
Net profit 2,361   3,890
  ═════════   ═════════