Fordys Driving School Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 14156785 (England and Wales)

Unaudited Financial Statements

for the Period 7 June 2022 to 30 June 2023

for

Fordys Driving School Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A D Ford

REGISTERED OFFICE:

Suite 5 Corum 2

Corum Office Park

Crown Way

Warmley

Bristol

BS30 8FJ

REGISTERED NUMBER:

14156785 (England and Wales)

ACCOUNTANTS:

Verinder Powell Associates Ltd

Suite 5 Corum 2

Corum Office Park

Crown Way

Warmley

Bristol

BS30 8FJ

FIXED ASSETS

Intangible assets

4

11,100

Tangible assets

5

3,986

15,086

CURRENT ASSETS

Debtors

6

560

Cash at bank

461

1,021

CREDITORS

Amounts falling due within one year

7

6,937

NET CURRENT LIABILITIES

(5,916

)

TOTAL ASSETS LESS CURRENT LIABILITIES

9,170

PROVISIONS FOR LIABILITIES

913

NET ASSETS

8,257

CAPITAL AND RESERVES

Called up share capital

10

Retained earnings

8,247

8,257

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 March 2024 and were signed by:

A D Ford - Director

1.	STATUTORY INFORMATION

Fordys Driving School 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 presentation currency of the financial statements is the Pound Sterling (£).

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.

There have been no material departures from the Financial Reporting Standard 102 1A.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company recognises revenue when;

the amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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

Fixtures, fittings and equipment

- 25% on cost

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

12,000

At 30 June 2023

12,000

AMORTISATION

Charge for period

900

At 30 June 2023

900

NET BOOK VALUE

At 30 June 2023

11,100

5.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

and

equipment

£

COST

Additions

4,508

At 30 June 2023

4,508

DEPRECIATION

Charge for period

522

At 30 June 2023

522

NET BOOK VALUE

At 30 June 2023

3,986

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

560

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Taxation and social security

4,335

Other creditors

2,602

6,937

8.	RELATED PARTY DISCLOSURES

Loans from related parties

Key management

Total

2023

£

£

At start of period

-

-

Advanced

41,909

41,909

Repaid

(41,817

)

(41,817

)

At end of period

92

92

The loan from key management is interest free and repayable on demand.