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REGISTERED NUMBER: 04667677 (England and Wales)
















WIXEY TRANSPORT LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022







WIXEY TRANSPORT LIMITED (REGISTERED NUMBER: 04667677)








CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022





Page




Balance Sheet  

1




Notes to the Financial Statements  

3





WIXEY TRANSPORT LIMITED (REGISTERED NUMBER: 04667677)



BALANCE SHEET

31 MARCH 2022



2022

2021



Notes

£   

£   

£   

£   


FIXED ASSETS

Intangible assets

4

28,113


35,142



Tangible assets

5

1,192,704


1,054,556



1,220,817


1,089,698




CURRENT ASSETS

Stocks

33,195


5,788



Debtors

6

843,271


621,752



Cash at bank and in hand

221,273


201,211



1,097,739


828,751



CREDITORS

Amounts falling due within one year

7

657,744


530,589



NET CURRENT ASSETS

439,995


298,162



TOTAL ASSETS LESS CURRENT

LIABILITIES

1,660,812


1,387,860




CREDITORS

Amounts falling due after more than

one year

8

(348,441

)

(347,444

)



PROVISIONS FOR LIABILITIES

(203,719

)

(165,664

)


NET ASSETS

1,108,652


874,752





WIXEY TRANSPORT LIMITED (REGISTERED NUMBER: 04667677)



BALANCE SHEET - continued

31 MARCH 2022



2022

2021



Notes

£   

£   

£   

£   


CAPITAL AND RESERVES

Called up share capital

100


100



Retained earnings

1,108,552


874,652



1,108,652


874,752




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 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 16 August 2022 and were signed on its behalf by:





Ms C M Wixey - Director




R P J Wixey - Director




WIXEY TRANSPORT LIMITED (REGISTERED NUMBER: 04667677)



NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022


1.

STATUTORY INFORMATION



Wixey Transport Limited is a private company limited by shares.  The company is registered in England under number 04667677 and the registered office is River Park, Stratford Road, Wellesbourne, Warwick, CV35 9HE.


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 2011, 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 the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.  


Plant and machinery

-

25% on reducing balance


Fixtures and fittings

-

20% on reducing balance


Lorries, vehicles and trailers

-

20% on reducing balance



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 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.



WIXEY TRANSPORT LIMITED (REGISTERED NUMBER: 04667677)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2022


2.

ACCOUNTING POLICIES - continued


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 the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 26 (2021 - 25 ) .


4.

INTANGIBLE FIXED ASSETS


Goodwill

£   



COST


At 1 April 2021


and 31 March 2022

60,000




AMORTISATION


At 1 April 2021

24,858




Amortisation for year

7,029




At 31 March 2022

31,887




NET BOOK VALUE


At 31 March 2022

28,113




At 31 March 2021

35,142





WIXEY TRANSPORT LIMITED (REGISTERED NUMBER: 04667677)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2022


5.

TANGIBLE FIXED ASSETS


Lorries,



Improvements


Fixtures


vehicles



to


Plant and


and


and



property


machinery


fittings


trailers


Totals

£   

£   

£   

£   

£   



COST


At 1 April 2021

-


98,103


5,626


2,844,502


2,948,231




Additions

15,200


-


-


500,966


516,166




Disposals

-


-


-


(346,150

)

(346,150

)



At 31 March 2022

15,200


98,103


5,626


2,999,318


3,118,247




DEPRECIATION


At 1 April 2021

-


72,608


4,666


1,816,401


1,893,675




Charge for year

2,171


6,374


194


289,947


298,686




Eliminated on disposal

-


-


-


(266,818

)

(266,818

)



At 31 March 2022

2,171


78,982


4,860


1,839,530


1,925,543




NET BOOK VALUE


At 31 March 2022

13,029


19,121


766


1,159,788


1,192,704




At 31 March 2021

-


25,495


960


1,028,101


1,054,556





Fixed assets, included in the above, which are held under hire purchase contracts are as follows:


Lorries,


vehicles


and


trailers

£   



COST


At 1 April 2021

888,976




Additions

426,966




Transfer to ownership

(144,836

)



At 31 March 2022

1,171,106




DEPRECIATION


At 1 April 2021

321,505




Charge for year

187,022




Transfer to ownership

(85,511

)



At 31 March 2022

423,016




NET BOOK VALUE


At 31 March 2022

748,090




At 31 March 2021

567,471





WIXEY TRANSPORT LIMITED (REGISTERED NUMBER: 04667677)



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

650,461


469,259




Other debtors

192,810


152,493



843,271


621,752




7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2022

2021


£   

£   



Bank loans and overdrafts

-


7,108




Hire purchase contracts

280,662


175,473




Trade creditors

145,164


41,354




Taxation and social security

105,378


138,820




Other creditors

126,540


167,834



657,744


530,589




8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN

ONE YEAR


2022

2021


£   

£   



Bank loans

-


42,892




Hire purchase contracts

348,441


304,552



348,441


347,444




9.

DIRECTORS' ADVANCES, CREDITS AND GUARANTEES


During the year the company made available to the directors an unsecured loan by way of advances and credits. The total of advances and credits made during the year was £102,520. The total of repayments made during the year was £76,000. Interest was charged at the official rate.

The directors of the company are aware of the requirements of Section 197 of the Companies Act 2006 regarding approval by the members of loans to directors.

10.

RELATED PARTY DISCLOSURES



Wixey Transport Limited has provided a guarantee for a loan in the sum of £1,253,322 on behalf of two of the shareholders, one of whom is a director, in connection with the construction of the yard and buildings occupied by Wixey Transport Limited.