Fleetcare Services Vehicle Engineers Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Fleetcare Services Vehicle Engineers Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04706276 . The registered office is The Old Goods Shed, Ashburton Industrial Estate, Ross-On-Wye, Herefordshire, HR9 7BW.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

These financial statements have been prepared in accordance with FRS 102 The Finanical Reporting standard applicable in the UK and Repbulic of Ireland ("FRS 102") and the requirments of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policiers adopted are set out below.

2.2. Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The company recognises revenue from the following major sources:

Motor vehicle engineering services

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenu are as follows:

Revenue from the sale of goods is recognised when the signiifcant risks and rewards of ownership of the goods have passed to the buyer (usually on dospatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractural hourly staff rates and materials, as a proprtion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised taht are recoverable.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill represents the excess of the cost of the acquisition of unicorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost. and is subsequently measured at cost less accumlated amortisiation and accumualted impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is twenty years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquistion. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each assets in the unit.

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Fleetcare Services Vehicle Engineers Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2025

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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	25% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	25% reducing balance

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.6. Stocks and Work in Progress

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where apllicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recongised as an impairment loss in profit or loss. Reversals of impairment losses are also recongised in profit or loss.

2.7. Financial Instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recongised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforeable right to set of the recongised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, cash & bank balances, are intially measured at transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a finacing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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Fleetcare Services Vehicle Engineers Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2025

2.8. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.9. Government Grant

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the preceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 14 (2024: 13)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 August 2024	65,000

As at 31 July 2025	65,000

Amortisation
As at 1 August 2024	65,000

As at 31 July 2025	65,000

Net Book Value
As at 31 July 2025	-

As at 1 August 2024	-

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Fleetcare Services Vehicle Engineers Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2025

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 1 August 2024	197,926	206,375	32,558	436,859
Additions	5,800	53,650	-	59,450
Disposals	-	(8,750 )	-	(8,750 )

As at 31 July 2025	203,726	251,275	32,558	487,559

Depreciation
As at 1 August 2024	158,698	87,662	29,464	275,824
Provided during the period	11,257	42,107	773	54,137
Disposals	-	(4,813 )	-	(4,813 )

As at 31 July 2025	169,955	124,956	30,237	325,148

Net Book Value
As at 31 July 2025	33,771	126,319	2,321	162,411

As at 1 August 2024	39,228	118,713	3,094	161,035

6. Stocks

	2025	2024
	£	£
Stock	14,000	8,000

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	182,982	200,770
Other debtors	92,723	79,048

	275,705	279,818

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	38,730	39,796
Trade creditors	104,006	114,106
Other creditors	29,494	29,530
Taxation and social security	65,565	63,363

	237,795	246,795

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

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	12,287	40,070

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Fleetcare Services Vehicle Engineers Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2025

10. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	38,730	39,796
Later than one year and not later than five years	12,287	40,070

	51,017	79,866

	51,017	79,866

11. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		162,411		161,035

			162,411		161,035
CURRENT ASSETS
Stocks	6	14,000		8,000
Debtors	7	275,705		279,818
Cash at bank and in hand		50,816		60,678

		340,521		348,496
Creditors: Amounts Falling Due Within One Year	8	(237,795 )		(246,795 )

NET CURRENT ASSETS (LIABILITIES)			102,726		101,701

TOTAL ASSETS LESS CURRENT LIABILITIES			265,137		262,736

Creditors: Amounts Falling Due After More Than One Year	9		(12,287 )		(40,070 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(28,312 )		(28,525 )

NET ASSETS			224,538		194,141

CAPITAL AND RESERVES
Called up share capital	11		2		2
Profit and Loss Account			224,536		194,139

SHAREHOLDERS' FUNDS			224,538		194,141