Fleet Inc Ltd - Filleted accounts

Registered number

08399725

Fleet Inc Ltd

Unaudited Filleted Accounts

28 February 2026

Fleet Inc Ltd
Registered number:		08399725
Balance Sheet
as at 28 February 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	4		512,653			512,779

Current assets
Stocks		4,240			8,160
Debtors	5	149,590			140,164
Cash at bank and in hand		542,359			363,458
		696,189			511,782

Creditors: amounts falling due within one year	6	(252,505)			(220,109)

Net current assets			443,684			291,673

Total assets less current liabilities			956,337			804,452

Creditors: amounts falling due after more than one year	7		(10,498)			(31,329)

Provisions for liabilities			(20,085)			(24,602)

Net assets			925,754			748,521

Capital and reserves
Called up share capital			50			50
Capital redemption reserve			50			50
Profit and loss account			925,654			748,421

Shareholder's funds			925,754			748,521

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.



Mr A J Ferguson
Director
Approved by the board on 15 September 2026

Fleet Inc Ltd
Notes to the Accounts
for the year ended 28 February 2026


1	Accounting policies

	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).

	Going concern
	At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

	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.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Investment properties			Not depreciated
	Plant and machinery			25% reducing balance
	Motor vehicles			25% reducing balance
	Computer equipment			33% straight line

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	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.

	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.

	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.

	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.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

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


2	Employees					2026		2025
Number							Number

	Average number of persons employed by the company					10		9


3	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 March 2025							125,493
	At 28 February 2026							125,493

	Amortisation
	At 1 March 2025							125,493
	At 28 February 2026							125,493

	Net book value
	At 28 February 2026							-

	Goodwill has being written off in equal annual instalments over its estimated economic life of 5 years.


4	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 March 2025	390,128		69,313		188,888		648,329
	Additions	19,397		6,503		9,917		35,817
	Disposals	-		-		(4,667)		(4,667)
	At 28 February 2026	409,525		75,816		194,138		679,479

	Depreciation
	At 1 March 2025	-		43,985		91,565		135,550
	Charge for the year	-		8,558		26,618		35,176
	On disposals	-		-		(3,900)		(3,900)
	At 28 February 2026	-		52,543		114,283		166,826

	Net book value
	At 28 February 2026	409,525		23,273		79,855		512,653
	At 28 February 2025	390,128		25,328		97,323		512,779


5	Debtors					2026		2025
£							£

	Trade debtors					124,488		115,128
	Other debtors					25,102		25,036
						149,590		140,164


6	Creditors: amounts falling due within one year					2026		2025
£							£

	Bank loans and overdrafts					10,385		14,175
	Obligations under finance lease and hire purchase contracts					10,464		9,783
	Trade creditors					58,062		36,336
	Taxation and social security costs					165,986		147,705
	Other creditors					7,608		12,110
						252,505		220,109


7	Creditors: amounts falling due after one year					2026		2025
£							£

	Bank loans					6,851		17,218
	Obligations under finance lease and hire purchase contracts					3,647		14,111
						10,498		31,329


8	Loans					2026		2025
£							£
	Creditors include:

	Secured bank loans					15,986		25,121

	Obligations under finance leases and hire purchase contracts are secured on the assets concerned. The bank loas and overdrafts are secured by a fixed and floating charge over the company's assets, together with a personal guarantee given by the director.


9	Other financial commitments					2026		2025
£							£

	Total future minimum payments under non-cancellable operating leases					138,846		196,030


10	Related party transactions

	At 28 February 2026 the company owed the director £51 (2025 : £29). Dividends of £93,200 (2025 : £119,200) were paid to the director during the year.


11	Controlling party

	The company is controlled by Mr A J Ferguson.


12	Other information

	Fleet Inc Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	Unit 8 Beecham Business Park
	Aldridge
	Walsall
	West Midlands
	WS9 8TZ