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REGISTERED NUMBER: 03663911 (England and Wales)




























Unaudited Financial Statements

for the Year Ended 31 March 2022

for

Hyway Logistics Limited

Hyway Logistics Limited (Registered number: 03663911)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hyway Logistics Limited

Company Information
for the Year Ended 31 March 2022







DIRECTOR: Mrs C J Hyland





REGISTERED OFFICE: The Crummock Suite
Paragon Business Park
Chorley New Road
Horwich, Bolton
Lancashire
BL6 6HG





REGISTERED NUMBER: 03663911 (England and Wales)





ACCOUNTANTS: DonnellyBentley Limited
Chartered Accountants
Hazlemere
70 Chorley New Road
Bolton
Lancashire
BL1 4BY

Hyway Logistics Limited (Registered number: 03663911)

Balance Sheet
31 March 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 30,000 35,000
Tangible assets 5 13,551 15,849
43,551 50,849

CURRENT ASSETS
Debtors 6 418,024 420,992
Cash at bank and in hand 10,126 21,650
428,150 442,642
CREDITORS
Amounts falling due within one year 7 374,744 442,339
NET CURRENT ASSETS 53,406 303
TOTAL ASSETS LESS CURRENT
LIABILITIES

96,957

51,152

CREDITORS
Amounts falling due after more than one
year

8

95,124

50,000
NET ASSETS 1,833 1,152

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 1,831 1,150
SHAREHOLDERS' FUNDS 1,833 1,152

Hyway Logistics Limited (Registered number: 03663911)

Balance Sheet - continued
31 March 2022


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 August 2022 and were signed by:





Mrs C J Hyland - Director


Hyway Logistics Limited (Registered number: 03663911)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Hyway Logistics 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.

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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hyway Logistics Limited (Registered number: 03663911)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss 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 38 (2021 - 49 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2021
and 31 March 2022 50,000
AMORTISATION
At 1 April 2021 15,000
Amortisation for year 5,000
At 31 March 2022 20,000
NET BOOK VALUE
At 31 March 2022 30,000
At 31 March 2021 35,000

5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2021 13,050 8,040 21,090
Additions - 2,340 2,340
Disposals - (832 ) (832 )
At 31 March 2022 13,050 9,548 22,598
DEPRECIATION
At 1 April 2021 3,201 2,040 5,241
Charge for year 2,462 2,003 4,465
Eliminated on disposal - (659 ) (659 )
At 31 March 2022 5,663 3,384 9,047
NET BOOK VALUE
At 31 March 2022 7,387 6,164 13,551
At 31 March 2021 9,849 6,000 15,849

Hyway Logistics Limited (Registered number: 03663911)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 250,484 308,891
Other debtors 27,500 8,000
Directors' loan accounts 79,154 84,154
Tax 36,904 -
Prepayments 23,982 19,947
418,024 420,992

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 36,239 -
Trade creditors 13,996 4,858
Tax 20,592 3,606
Social security and other taxes 16,607 20,375
VAT 70,884 112,159
Other creditors 51,454 66,922
Credit card liabilities - 7,868
Factoring account 151,986 214,859
Accrued expenses 12,986 11,692
374,744 442,339

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans - 1-2 years 72,478 50,000
Bank loans - 2-5 years 22,646 -
95,124 50,000

9. CALLED UP SHARE CAPITAL


Allotted and issued:
Number: Class: Nominal 2022 2021
value: £    £   
2 Share capital 1 1 2 2

Hyway Logistics Limited (Registered number: 03663911)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2022 and 31 March 2021:

2022 2021
£    £   
Mrs C J Hyland
Balance outstanding at start of year 84,154 -
Amounts advanced 35,000 84,154
Amounts repaid (40,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 79,154 84,154

The loan will be repaid in full on or before the 31 December 2022.