REGISTERED NUMBER: 03612530 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Fast-Fit Express Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S A Sims

S W Bromley

REGISTERED OFFICE:

C/o Stephen A Sims (Cars) Limited

McMullen Road

DARLINGTON

County Durham

DL1 1XT

REGISTERED NUMBER:

03612530 (England and Wales)

ACCOUNTANTS:

Clive Owen LLP

Chartered Accountants

140 Coniscliffe Road

DARLINGTON

Co Durham

DL3 7RT

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

64,938

53,133

64,938

53,133

CURRENT ASSETS

Stocks

6

12,324

10,265

Debtors

7

317,529

403,798

Cash at bank

10,309

5,488

340,162

419,551

CREDITORS

Amounts falling due within one year

8

(108,623

)

(154,693

)

NET CURRENT ASSETS

231,539

264,858

TOTAL ASSETS LESS CURRENT LIABILITIES

296,477

317,991

CREDITORS

Amounts falling due after more than one year

9

(10,121

)

(45,833

)

PROVISIONS FOR LIABILITIES

11

(8,753

)

(8,248

)

NET ASSETS

277,603

263,910

CAPITAL AND RESERVES

Called up share capital

12

100

100

Retained earnings

277,503

263,810

SHAREHOLDERS' FUNDS

277,603

263,910

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 July 2025 and were signed on its behalf by:

S A Sims - Director

1.	STATUTORY INFORMATION

Fast-Fit Express 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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Turnover

Turnover is measured at fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income recognition

Income is recognised when a contract for the sale of goods and/or services is determined as unconditional.

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.

Trademarks acquired have finite useful lives and are carried at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is calculated using the straight-line method to allocate the cost of trademarks over their estimated useful lives of 5 years. Cost of renewing trademarks is recognised in the profit and loss account as incurred.

Website costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

10% on cost

Plant and machinery

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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

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

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.

Related party transactions

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 which were conducted at market rate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Trade

Website

marks

costs

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

17,500

4,940

22,440

AMORTISATION

At 1 January 2024

and 31 December 2024

17,500

4,940

22,440

NET BOOK VALUE

At 31 December 2024

-

-

-

At 31 December 2023

-

-

-

5.	TANGIBLE FIXED ASSETS

Long

Plant and

Motor

Computer

leasehold

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

23,850

69,521

90,121

40,598

224,090

Additions

-

432

37,000

-

37,432

Disposals

-

-

(13,689

)

-

(13,689

)

At 31 December 2024

23,850

69,953

113,432

40,598

247,833

DEPRECIATION

At 1 January 2024

17,526

60,806

53,843

38,782

170,957

Charge for year

1,428

3,748

15,801

1,740

22,717

Eliminated on disposal

-

-

(10,779

)

-

(10,779

)

At 31 December 2024

18,954

64,554

58,865

40,522

182,895

NET BOOK VALUE

At 31 December 2024

4,896

5,399

54,567

76

64,938

At 31 December 2023

6,324

8,715

36,278

1,816

53,133

6.

STOCKS

2024

2023

£

£

Stocks

12,324

10,265

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

3,257

29,716

Other debtors

300

3,573

Amounts due from related

undertakings

308,633

370,440

Prepayments and accrued income

5,339

69

317,529

403,798

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

45,833

62,500

Hire purchase contracts

9,324

-

Trade creditors

28,006

45,021

Taxation and social security

18,043

34,861

Other creditors

1,472

1,085

Directors' current accounts

-

2,772

Accruals and deferred income

5,945

8,454

108,623

154,693

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 2-5 years

-

45,833

Hire purchase contracts

10,121

-

10,121

45,833

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

19,445

-

Hire purchase contracts are secured over the assets to which they relate.

11.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

8,753

8,248

Deferred

tax

£

Balance at 1 January 2024

8,248

Accelerated capital allowances

505

Balance at 31 December 2024

8,753

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

13.	GUARANTEES AND OTHER FINANCIAL COMMITMENTS

Unlimited inter company guarantee given to the company's bankers on 17 November 2016 by Stephen A Sims (Cars) Limited, Fast-Fit Express Limited and Clutch Express Limited.

14.	RELATED PARTY DISCLOSURES

2024

2023

£

£

Amounts due to directors

0

2,772

No interest has been charged.