Fullers Auto Salvage Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 08780294

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		2,604		3,032

			2,604		3,032
CURRENT ASSETS
Stocks	5	117,959		46,713
Debtors	6	121,763		60,909
Cash at bank and in hand		35,401		84,448

		275,123		192,070
Creditors: Amounts Falling Due Within One Year	7	(104,355 )		(73,814 )

NET CURRENT ASSETS (LIABILITIES)			170,768		118,256

TOTAL ASSETS LESS CURRENT LIABILITIES			173,372		121,288

Creditors: Amounts Falling Due After More Than One Year	8		(6,667 )		(16,667 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(126 )		(207 )

NET ASSETS			166,579		104,414

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			166,479		104,314

SHAREHOLDERS' FUNDS			166,579		104,414

Page 1

Page 2

Fullers Auto Salvage Limited

Balance Sheet (continued)

As At 31 December 2024

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.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr David Fuller

Director

19th May 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Fullers Auto Salvage Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08780294 . The registered office is Priory Place Priory Road, Tiptree, Colchester, Essex, CO5 0QE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% Reducing Balance
Fixtures & Fittings	20% Reducing Balance
Computer Equipment	20% Reducing Balance

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Taxation

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.

2.6. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.

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Fullers Auto Salvage Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2023: 3)

4. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2024	4,728	1,095	2,477	8,300
Additions	-	-	224	224

As at 31 December 2024	4,728	1,095	2,701	8,524

Depreciation
As at 1 January 2024	3,401	977	890	5,268
Provided during the period	266	24	362	652

As at 31 December 2024	3,667	1,001	1,252	5,920

Net Book Value
As at 31 December 2024	1,061	94	1,449	2,604

As at 1 January 2024	1,327	118	1,587	3,032

5. Stocks

	2024	2023
	£	£
Stock - vehicles and spare parts	117,959	46,713

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	101,617	40,317
Prepayments and accrued income	146	592
Endeavour Loan	20,000	20,000

	121,763	60,909

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Fullers Auto Salvage Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	18,419	3,562
Bank loans and overdrafts	10,000	10,000
Corporation tax	34,311	35,143
Other taxes and social security	4,665	7,371
VAT	35,376	16,090
Accruals and deferred income	1,495	1,256
Directors' loan accounts	89	392

	104,355	73,814

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bounce Back Loan > 1 year	6,667	16,667

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

10. Ultimate Controlling Party

The company's ultimate controlling party is Mr D Fuller & Mr A Fuller by virtue of his ownership of 100% of their issued share capital in the company.