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Registration number: SC433379

JR Transport Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2021

 

JR Transport Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

Accountants' Report

7

 

JR Transport Ltd

Company Information

Directors

Mrs Jane Rennie

Mr Jason Rennie

Company secretary

Mrs Jane Rennie

Registered office

Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

Accountants

Yates & Co CA
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

 

JR Transport Ltd

(Registration number: SC433379)
Balance Sheet as at 30 September 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

5

805

1,714

Current assets

 

Stocks

6

20,135

53,013

Debtors

7

189,176

142,450

Cash at bank and in hand

 

-

9,073

 

209,311

204,536

Creditors: Amounts falling due within one year

8

(209,557)

(179,539)

Net current (liabilities)/assets

 

(246)

24,997

Net assets

 

559

26,711

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

459

26,611

Shareholders' funds

 

559

26,711

For the financial year ending 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 10 March 2022 and signed on its behalf by:
 

.........................................
Mrs Jane Rennie
Company secretary and director

 

JR Transport Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible 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

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% on cost

 

JR Transport Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

 

3

Employees and Directors

The average number of persons employed by the company (including directors) during the year, was 18 (2020 - 20).

Directors' remuneration

The directors' remuneration for the year was as follows:

2021
£

2020
£

Remuneration

18,415

21,539

4

Taxation

The tax charge on the profit for the year was as follows:
 

2021
 £

2020
 £

UK corporation tax

(643)

29,332

Tax on profit

(643)

29,332

 

JR Transport Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 October 2020

4,886

4,886

At 30 September 2021

4,886

4,886

Depreciation

At 1 October 2020

3,172

3,172

Charge for the year

909

909

At 30 September 2021

4,081

4,081

Carrying amount

At 30 September 2021

805

805

At 30 September 2020

1,714

1,714

6

Stocks

2021
£

2020
£

Work in progress

20,135

53,013

7

Debtors

2021
£

2020
£

Trade debtors

8,262

-

Other debtors

180,914

142,450

189,176

142,450

8

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Loans and borrowings

9

19,795

3,348

Trade creditors

 

41,603

11,686

Taxation and social security

 

142,304

160,550

Other creditors

 

5,855

3,955

 

209,557

179,539

 

JR Transport Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021

9

Loans and borrowings

2021
£

2020
£

Current loans and borrowings

Bank borrowings

-

3,348

Bank overdrafts

19,795

-

19,795

3,348

10

Related party transactions

Transactions with directors

Debtors include the following amounts which are owed from individuals who were directors of the company during the year:

2021

At 1 October 2020
£

Advances to directors
£

At 30 September 2021
£

Mrs Jane Rennie

Loan

104,951

30,935

135,886

       
     

 

2020

At 1 October 2019
£

Repayments by director
£

At 30 September 2020
£

Mrs Jane Rennie

Loan

114,694

(9,743)

104,951

       
     

 

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
JR Transport Ltd
for the Year Ended 30 September 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of JR Transport Ltd for the year ended 30 September 2021 as set out on pages 2 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of JR Transport Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of JR Transport Ltd and state those matters that we have agreed to state to the Board of Directors of JR Transport Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JR Transport Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that JR Transport Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of JR Transport Ltd. You consider that JR Transport Ltd 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 accounts of JR Transport Ltd. 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 accounts.

......................................

Yates & Co CA
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

10 March 2022