iFleet Ltd - Filleted accounts

Registered number

06509891

iFleet Ltd

Filleted Accounts

30 June 2025

iFleet Ltd
Registered number:		06509891
Balance Sheet
as at 30 June 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		34,292			41,292

Current assets
Debtors	4	90,458			121,462
Cash at bank and in hand		663,121			890,357
		753,579			1,011,819

Creditors: amounts falling due within one year	5	(421,432)			(530,100)

Net current assets			332,147			481,719

Net assets			366,439			523,011

Capital and reserves
Called up share capital			12,000			12,000
Profit and loss account			354,439			511,011

Shareholders' funds			366,439			523,011

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




K E Wazir
Director
Approved by the board on 6 January 2026

iFleet Ltd
Notes to the Accounts
for the year ended 30 June 2025


1	Accounting policies

1.1	Company information

	Ifleet Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1, Moulsoe Business Centre Cranfield Road, Moulsoe, Milton Keynes, Buckinghamshire, England, MK16 0FJ.

1.2	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

1.3	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

1.4	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Fixtures, fittings, tools and equipment			33% straight line
	Computer equipment & Software			33% straight line

	The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

	The assets’ residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

1.5	Cash and cash equivalents

	Cash and cash equivalents are basic financial assets and comprise of cash in hand and at bank.

1.6	Equity instruments

	Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7	Employee benefits

	The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

	The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

	Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8	Retirement benefits

	Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9	Leases

	Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.10	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

1.11	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

1.12	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

1.13	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

1.14	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					5		5


3	Tangible fixed assets
								Plant and machinery etc
£
	Cost
	At 1 July 2024							294,664
	At 30 June 2025							294,664

	Depreciation and impairment
	At 1 July 2024							253,372
	Charge for the year							7,000
	At 30 June 2025							260,372

	Net book value
	At 30 June 2025							34,292
	At 30 June 2024							41,292


4	Debtors					2025		2024
£							£

	Trade debtors					67,069		91,887
	Other debtors					23,389		29,575
						90,458		121,462


5	Creditors: amounts falling due within one year					2025		2024
£							£

	Trade creditors					44,896		65,490
	Taxation and social security costs					44,857		53,686
	Other creditors					331,679		410,924
						421,432		530,100

6	Called up share capital
		2025		2024		2025		2024
	Ordinary share capital	Number	Number		£		£
	Issued and fully paid
	A' Ordinary shares of £ 1 each	6,000		6,000		6,000		6,000
	B' Ordinary shares of £ 1 each	6,000		6,000		6,000		6,000


		12,000		12,000		12,000		12,000