Fisher Motor Factors Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 5421902

FISHER MOTOR FACTORS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 April 2025

FISHER MOTOR FACTORS LIMITED

STATEMENT OF FINANCIAL POSITION

30 April 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	4		1,095,046	1,021,209

Current assets

Stocks		779,018	913,687
Debtors	5	2,449,721	1,997,044
Cash at bank and in hand		512,945	380,432
		-------------	-------------
		3,741,684	3,291,163

Creditors: amounts falling due within one year	6	( 1,069,735)		( 929,497)
		-------------		-------------
Net current assets			2,671,949	2,361,666
			-------------	-------------
Total assets less current liabilities			3,766,995	3,382,875

Provisions

Taxation including deferred tax	( 62,458)	( 70,278)
	-------------	-------------
Net assets	3,704,537	3,312,597
	-------------	-------------

FISHER MOTOR FACTORS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

30 April 2025

	2025		2024
Note	£	£	£

Capital and reserves

Called up share capital	260	260
Profit and loss account	3,704,277	3,312,337
	-------------	-------------
Shareholders funds	3,704,537	3,312,597
	-------------	-------------

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 income statement has not been delivered.

For the 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 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 .

These financial statements were approved by the board of directors and authorised for issue on 12 September 2025 , and are signed on behalf of the board by:

I J Fisher

Director

Company registration number: 5421902

FISHER MOTOR FACTORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 APRIL 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 4, Kingsley Court, Kingsley Road, Lincoln Fields, Lincs, LN6 3TA.

2. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. No significant judgements or estimates have been made by management in the process of applying the entity's accounting policies that would have a significant effect on the amounts recognised in the financial statements.

Revenue recognition

The turnover shown in the profit and loss account represents the value of all work done during the period, exclusive of Value Added Tax. Turnover is recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards attaching to the sale have been transferred to the customer.

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 material 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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

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

Freehold property	-	2% straight line
Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	20% reducing balance
Motor vehicles	-	25% reducing balance

	Equipment	-	20% reducing balance

Stocks

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

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. The Coronavirus Job Retention Scheme grant has been recognised under the accrual model, and is shown within Government Grant Income within the financial statements.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

3. Employee numbers

The average number of persons employed by the company during the year amounted to 30 (2024: 29 ).

4. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 May 2024	715,378	20,700	128,171	307,512	56,161	1,227,922
Additions	–	2,000	41,655	140,959	3,070	187,684
Disposals	–	–	–	( 29,787)	–	( 29,787)
	----------	---------	----------	----------	---------	-------------
At 30 Apr 2025	715,378	22,700	169,826	418,684	59,231	1,385,819
	----------	---------	----------	----------	---------	-------------
Depreciation
At 1 May 2024	16,737	8,788	49,567	100,538	31,083	206,713
Charge for the year	14,307	3,324	17,199	61,168	5,329	101,327
Disposals	–	–	–	( 17,267)	–	( 17,267)
	----------	---------	----------	----------	---------	-------------
At 30 Apr 2025	31,044	12,112	66,766	144,439	36,412	290,773
	----------	---------	----------	----------	---------	-------------
Carrying amount
At 30 Apr 2025	684,334	10,588	103,060	274,245	22,819	1,095,046
	----------	---------	----------	----------	---------	-------------
At 30 Apr 2024	698,641	11,912	78,604	206,974	25,078	1,021,209
	----------	---------	----------	----------	---------	-------------

5. Debtors

	2025	2024
	£	£
Trade debtors	1,158,315	959,444
Amounts owed by group undertakings and undertakings in which the company has a participating interest	1,265,510	965,510
Other debtors	25,896	72,090
	-------------	-------------
	2,449,721	1,997,044
	-------------	-------------

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	757,986	648,959
Corporation tax	148,639	120,757
Social security and other taxes	121,410	122,781
Other creditors	41,700	37,000
	-------------	----------
	1,069,735	929,497
	-------------	----------

7. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	82,069	21,069
Later than 1 year and not later than 5 years	162,377	117,371
	----------	----------
	244,446	138,440
	----------	----------

8. Related party transactions

No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.

9. Controlling party

The company is wholly owned by Fisher Motor Factors Holdings Limited . There is no individual controlling party however the group is under the control of the Directors of Fisher Motor Factors Holdings Limited.