REGISTERED NUMBER: 00705126 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Fowler's of Bristol (Engineers) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G J White

B Jones

SECRETARY:

A Powell

REGISTERED OFFICE:

Unit 3a

Severnside Trading Estate

St. Andrews Road

Avonmouth

Bristol

BS11 9YQ

REGISTERED NUMBER:

00705126 (England and Wales)

ACCOUNTANTS:

O'Sullivan Hughes Limited

185 Wellsway

Keynsham

Bristol

BS31 1JJ

FIXED ASSETS

Tangible assets

4

348,908

241,401

CURRENT ASSETS

Stocks

395,352

338,281

Debtors

5

713,968

720,139

Cash at bank and in hand

392,595

276,560

1,501,915

1,334,980

CREDITORS

Amounts falling due within one year

6

(640,188

)

(582,686

)

NET CURRENT ASSETS

861,727

752,294

TOTAL ASSETS LESS CURRENT LIABILITIES

1,210,635

993,695

CREDITORS

Amounts falling due after more than one year

7

(99,557

)

(54,517

)

PROVISIONS FOR LIABILITIES

(37,828

)

-

NET ASSETS

1,073,250

939,178

CAPITAL AND RESERVES

Called up share capital

934

934

Share premium

50

50

Capital redemption reserve

2,270

2,270

Retained earnings

1,069,996

935,924

1,073,250

939,178

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2025 and were signed on its behalf by:

G J White - Director

1.	STATUTORY INFORMATION

Fowler's of Bristol (Engineers) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The principal activity of the company in the year under review was that of precision engineering.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

The financial statements have been prepared on a going concern basis. In order to assess whether it is appropriate for the company to be reported as a going concern, the directors have applied judgement, having undertaken appropriate enquiries and having considered the business activities and the companies principal risks and uncertainties.

The directors have reviewed and considered relevant information including annual budgets and future cash-flows in making their assessment. In arriving at this judgement there are a number of assumptions and estimates that are applied by the company. These include, but not limited to, depreciation on tangible assets and recoverable value of debtors and stock respectively. These estimates, assumptions and judgements are also evaluted on a continual basis.

At the time of approving the financial statements, the directors have 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 in preparing the financial statements.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefit's will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sales of goods

Turnover from the sale of goods for is recognised when all of the following conditions are satisfied:

- the company has transferred the significant risks and rewards of ownership to the buyer;

- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of turnover can be measured reliably;

- it is probable that the company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide precision engineering services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;

- it is probable that the company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

25% on reducing balance

Plant and machinery

-

at variable rates on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Government grants

Grants relating to revenue are recognised in profit and loss on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Capital-based grants are recognised in the profit and loss on a systematic basis over the useful economic life of the asset.

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling prices less costs to complete and sell. Cost includes expenditure that is directly attributable to bring the asset to the location and condition necessary for it to be capable of operation in its intended capacity. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the profit or loss account.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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 recognised 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 enforceable right to set off the recognised 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 trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period on a straight line basis where this is not materially different to the sum of the digits basis. The capital element of the future payments is treated as a liability.

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 on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2024 - 22 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 April 2024

283,997

716,089

29,384

Additions

-

141,767

210

At 31 March 2025

283,997

857,856

29,594

DEPRECIATION

At 1 April 2024

248,161

551,844

25,760

Charge for year

8,960

52,479

953

At 31 March 2025

257,121

604,323

26,713

NET BOOK VALUE

At 31 March 2025

26,876

253,533

2,881

At 31 March 2024

35,836

164,245

3,624

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2024

37,890

81,246

1,148,606

Additions

-

39,238

181,215

At 31 March 2025

37,890

120,484

1,329,821

DEPRECIATION

At 1 April 2024

26,525

54,915

907,205

Charge for year

2,841

8,475

73,708

At 31 March 2025

29,366

63,390

980,913

NET BOOK VALUE

At 31 March 2025

8,524

57,094

348,908

At 31 March 2024

11,365

26,331

241,401

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

641,749

654,246

Other debtors

72,219

65,893

713,968

720,139

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 8)

20,000

20,000

Hire purchase contracts (see note 9)

50,021

33,300

Trade creditors

108,693

246,205

Taxation and social security

111,800

89,984

Other creditors

349,674

193,197

640,188

582,686

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 8)

16,667

36,667

Hire purchase contracts (see note 9)

82,890

17,850

99,557

54,517

8.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank loans

20,000

20,000

Amounts falling due between one and two years:

Bank loans - 1-2 years

16,667

20,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

16,667

A guarantee from the UK government to NatWest Bank PLC has been provided for the bank loan under the Bounceback Loan Scheme. The loan is due to be repaid in January 2027.

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

50,021

33,300

Between one and five years

82,890

17,850

132,911

51,150

Non-cancellable

operating leases

2025

2024

£

£

Within one year

14,398

54,620

Between one and five years

4,693

4,552

19,091

59,172

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

132,911

51,150

Hire purchase arrangements are secured against the assets to which they relate.

11.	PENSION COMMITMENTS

Contributions totalling £7,580 (2024 - £20,278) were payable to the fund at the year end and are included within creditors.

12.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.