Fleet Management Services (UK) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC211499

Fleet Management Services (UK) Limited

Filleted Unaudited Financial Statements

28 March 2025

Fleet Management Services (UK) Limited

Statement of Financial Position

28 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		324,171	325,152

Current assets

Stocks		102,075	213,350
Debtors	6	92,918	74,236
Cash at bank and in hand		8,871	15,079
		---------	---------
		203,864	302,665

Creditors: amounts falling due within one year	7	508,500		501,257
		---------		---------
Net current liabilities			304,636	198,592
			---------	---------
Total assets less current liabilities			19,535	126,560

Creditors: amounts falling due after more than one year	8	155,975	269,618
		---------	---------
Net liabilities		( 136,440)	( 143,058)
		---------	---------

Fleet Management Services (UK) Limited

Statement of Financial Position (continued)

28 March 2025

	2025		2024
Note	£	£	£

Capital and reserves

Called up share capital	1	1
Profit and loss account	( 136,441)	( 143,059)
	---------	---------
Shareholder deficit	( 136,440)	( 143,058)
	---------	---------

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 income and retained earnings has not been delivered.

For the year ending 28 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his 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 23 December 2025 , and are signed on behalf of the board by:

A Howie
Director

Company registration number: SC211499

Fleet Management Services (UK) Limited

Notes to the Financial Statements

Year ended 28 March 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Morelan, Station Road, Burghead, Moray, IV30 5UN.

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 and investment properties measured at fair value through profit or loss.

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

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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% reducing balance
Fixtures & Fittings	-	15% reducing balance
Office Equipment	-	15% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts 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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Cash and cash equivalents in the statement of financial position comprise cash at bank and in hand held on demand. Bank overdrafts are shown within creditors due within one year. Trade debtors and creditors are measured at the undiscounted amounts receivable from the customer or payable to a supplier, which is normally the invoiced price. Trade debtors are assessed at the end of each reporting period for the objective evidence of impairment. If such evidence is found, an impairment loss is recognise in the statement of income and retained earnings. Loans received from a bank at the market rate of interest are recognised at the amount of cash received from the bank, less separately incurred transition costs. Directors' loans to the company which are repayable on demand are measured at the undiscounted amount of the cash expected to be paid.

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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 9 (2024: 11 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£	£
Cost
At 29 March 2024 and 28 March 2025	318,601	19,329	5,549	13,879	357,358
	---------	--------	-------	--------	---------
Depreciation
At 29 March 2024	–	14,934	4,576	12,696	32,206
Charge for the year	–	659	146	176	981
	---------	--------	-------	--------	---------
At 28 March 2025	–	15,593	4,722	12,872	33,187
	---------	--------	-------	--------	---------
Carrying amount
At 28 March 2025	318,601	3,736	827	1,007	324,171
	---------	--------	-------	--------	---------
At 28 March 2024	318,601	4,395	973	1,183	325,152
	---------	--------	-------	--------	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	50,404	31,722
Other debtors	42,514	42,514
	--------	--------
	92,918	74,236
	--------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	81,362	19,252
Trade creditors	104,393	164,825
Corporation tax	2	2
Social security and other taxes	52,752	68,223
Credit card	2,641	3,994
Wages and pension creditor	929	22,251
Other creditors	266,421	222,710
	---------	---------
	508,500	501,257
	---------	---------

The Bank of Scotland PLC holds a bond and floating charge over all the assets of the company and security over land at Linkwood.

Obligations under hire purchase and finance leases of £69,622 (2024: £79,765) included within other creditors are secured on the assets concerned.

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

	2025	2024
	£	£
Bank loans and overdrafts	105,420	125,170
Other creditors	50,555	144,448
	---------	---------
	155,975	269,618
	---------	---------

The Bank of Scotland PLC holds a bond and floating charge over all the assets of the company and security over land at Linkwood.

Obligations under hire purchase and finance leases of £50,554.84 (2024: £144,448) shown as other creditors are secured on the assets concerned.

Included within creditors: amounts falling due after more than one year is an amount of £Nil (2024: £82,834) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

9. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	Balance brought forward and outstanding
	2025	2024
	£	£
A Howie	36,914	36,914
	--------	--------

10. Related party transactions

No transactions with related parties were undertaken such as require to be disclosed.