Fleet Initiatives Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05852959

Financial Statements for the Year Ended 30 April 2018

for

Fleet Initiatives Limited

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

J C Smith

Ms C M E Smith

SECRETARY:

Ms S M Mizrany

REGISTERED OFFICE:

Jubilee House

Merrion Avenue

Stanmore

Middlesex

HA7 4RY

REGISTERED NUMBER:

05852959

ACCOUNTANTS:

Newmans

Chartered Certified Accountants

DVS House

Suite 1, First Floor

4 Spring Villa Road

Edgware

Middlesex

HA8 7EB

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited

financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet.

Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are

not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of Fleet Initiatives Limited for the year ended 30 April 2018 which comprise the Income Statement, Balance Sheet and

the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Fleet Initiatives Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fleet Initiatives Limited and state those matters that we have agreed to state to the Board of Directors of Fleet Initiatives Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Fleet Initiatives Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Fleet Initiatives Limited. You consider that Fleet Initiatives Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Fleet Initiatives Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Newmans

Chartered Certified Accountants

DVS House

Suite 1, First Floor

4 Spring Villa Road

Edgware

Middlesex

HA8 7EB

29 January 2019

FIXED ASSETS

Investments

3

995,250

944,559

CURRENT ASSETS

Stocks

85,585

90,819

Debtors

4

12,979

12,099

Cash at bank

25,150

-

123,714

102,918

CREDITORS

Amounts falling due within one year

5

70,251

74,171

NET CURRENT ASSETS

53,463

28,747

TOTAL ASSETS LESS CURRENT LIABILITIES

1,048,713

973,306

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Revaluation reserve

6

980,250

929,559

Retained earnings

6

58,463

33,747

SHAREHOLDERS' FUNDS

1,048,713

973,306

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 29 January 2019 and were signed on its behalf by:

J C Smith - Director

1.	STATUTORY INFORMATION

Fleet Initiatives Limited is a private company, limited by shares , registered in Not specified/Other. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents car rentals and sales receivable, excluding value added tax.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

Taxation

Taxation for the year 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 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.

3.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

30.4.18

30.4.17

£

£

Golden Eagle Bond

15,000

15,000

Revaluation

980,250

929,559

995,250

944,559

The fixed asset investments represents 1 Golden Eagle Bond. Each bond holds 1000 U.S. Gold Coins.

The bonds are revalued at market value by the current prices stated on the Gold Bullion Market.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Other debtors

12,979

12,099

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Bank loans and overdrafts

-

11,614

Amounts owed to group undertakings

44,523

44,523

Taxation and social security

9,505

3,707

Other creditors

16,223

14,327

70,251

74,171

6.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 May 2017

33,747

929,559

963,306

Profit for the year

24,716

24,716

Revaluation during the year

-

50,691

50,691

At 30 April 2018

58,463

980,250

1,038,713