Fowlmere Engineering Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 00833372

Fowlmere Engineering Limited

Filleted Unaudited Financial Statements

For the year ended

31 December 2024

Fowlmere Engineering Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Tangible assets	5		415,739		361,608

Current assets

Stocks		202,070	204,416
Debtors	6	497,100	548,447
Cash at bank and in hand		691,007	583,718
		------------	------------
		1,390,177	1,336,581

Creditors: amounts falling due within one year	7	1,028,225		934,166
		------------		------------
Net current assets			361,952		402,415
			---------		---------
Total assets less current liabilities			777,691		764,023

Creditors: amounts falling due after more than one year	8		105,930		61,362

Provisions

Taxation including deferred tax	44,473	49,549
	---------	---------
Net assets	627,288	653,112
	---------	---------

Capital and reserves

Called up share capital	200	200
Non-distributable reserves	51,682	51,682
Profit and loss account	575,406	601,230
	---------	---------
Shareholders funds	627,288	653,112
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 December 2024 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 financial statements for the year in question in accordance with section 476 ;

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

Fowlmere Engineering Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 3 September 2025 , and are signed on behalf of the board by:

Mr A J Nicoll

Director

Company registration number: 00833372

Fowlmere Engineering Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Garage, Rectory Lane, Fowlmere, Royston, Hertfordshire, SG8 7TJ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover represents the amounts receivable for goods and work done during the year exclusive of VAT.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. In the case of land and buildings these were revalued at the deemed cost in September 1991.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & Machinery	-	15% straight line
Fixtures & Fittings	-	15% straight line
Motor Vehicles	-	20% straight line

Freehold Land - not depreciated Freehold Buildings - 4% straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is based on purchase price.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 20 (2023: 19 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 January 2024	92,596	68,688	46,738	575,829	783,851
Additions	–	–	1,771	142,633	144,404
Disposals	–	–	–	( 95,619)	( 95,619)
	--------	--------	--------	---------	---------
At 31 December 2024	92,596	68,688	48,509	622,843	832,636
	--------	--------	--------	---------	---------
Depreciation
At 1 January 2024	–	40,010	42,019	340,214	422,243
Charge for the year	–	6,070	1,528	82,674	90,272
Disposals	–	–	–	( 95,618)	( 95,618)
	--------	--------	--------	---------	---------
At 31 December 2024	–	46,080	43,547	327,270	416,897
	--------	--------	--------	---------	---------
Carrying amount
At 31 December 2024	92,596	22,608	4,962	295,573	415,739
	--------	--------	--------	---------	---------
At 31 December 2023	92,596	28,678	4,719	235,615	361,608
	--------	--------	--------	---------	---------

The freehold property was revalued in September 1991 by Cheffins, Grain & Comins, Chartered Surveyors, at open market value. The surplus of £54,475 arising on the revaluation was taken to the revaluation reserve. Since this date, the directors have adopted a policy not to revalue fixed assets. In the opinion of the directors all of the value is attributable to the land and none to the building due to its age and condition.

6. Debtors

	2024	2023
	£	£
Trade debtors	327,203	364,558
Other debtors	169,897	183,889
	---------	---------
	497,100	548,447
	---------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	644,698	643,638
Social security and other taxes	188,202	175,609
Other creditors	195,325	114,919
	------------	---------
	1,028,225	934,166
	------------	---------

Included in other creditors above are £18,664 (2023: £7,501) of obligations which are secured on the assets concerned.

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Other creditors	105,930	61,362
	---------	--------

Included in other creditors above are £105,930 (2023: £61,362) of obligations which are secured on the assets concerned.

9. Other financial commitments

The total future minimum payments under non-cancellable obligations are £ 116,667 (2023: £ 9,228 ).