1 January 2022 false Taxfiler 2023.9 true SC438750business:PrivateLimitedCompanyLtd2022-01-012022-12-31 SC4387502021-12-31 SC4387502022-01-012022-12-31 SC438750business:AuditExemptWithAccountantsReport2022-01-012022-12-31 SC438750business:FilletedAccounts2022-01-012022-12-31 SC4387502022-12-31 SC438750business:Director12022-01-012022-12-31 SC438750business:Director22022-01-012022-12-31 SC438750business:RegisteredOffice2022-01-012022-12-31 SC4387502021-12-31 SC438750core:WithinOneYear2022-12-31 SC438750core:WithinOneYear2021-12-31 SC438750core:AfterOneYear2022-12-31 SC438750core:AfterOneYear2021-12-31 SC438750core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 SC438750core:ShareCapitalcore:PreviouslyStatedAmount2021-12-31 SC438750core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 SC438750core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2021-12-31 SC438750core:PreviouslyStatedAmount2022-12-31 SC438750core:PreviouslyStatedAmount2021-12-31 SC438750business:SmallEntities2022-01-012022-12-31 SC438750countries:Scotland2022-01-012022-12-31 SC438750core:PlantMachinery2022-01-012022-12-31 SC438750core:MotorVehicles2022-01-012022-12-31 SC438750core:FurnitureFittings2022-01-012022-12-31 SC438750core:PlantMachinery2021-12-31 SC438750core:MotorVehicles2021-12-31 SC438750core:FurnitureFittings2021-12-31 SC438750core:PlantMachinery2022-12-31 SC438750core:MotorVehicles2022-12-31 SC438750core:FurnitureFittings2022-12-31 SC438750business:OrdinaryShareClass12022-01-012022-12-31 SC438750business:OrdinaryShareClass12021-01-012021-12-31 SC4387502021-01-012021-12-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. SC438750 (Scotland)
Cavalry Transport Limited Unaudited accounts for the year ended 31 December 2022
Cavalry Transport Limited Company Information for the year ended 31 December 2022
Directors
Andrew Macnab Robert Sloan
Company Number
SC438750 (Scotland)
Registered Office
Unit 4B Sunnyside Farm Macbiehill West Linton EH46 7AZ
Accountants
Jean S Macnab LLB CA CTA 1 Medwyn Drive West Linton Peeblesshire EH46 7HW
- 2 -
Cavalry Transport Limited Statement of financial position as at 31 December 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
71,424 
119,468 
Current assets
Debtors
32,408 
38,972 
Cash at bank and in hand
339 
859 
32,747 
39,831 
Creditors: amounts falling due within one year
(91,330)
(113,878)
Net current liabilities
(58,583)
(74,047)
Total assets less current liabilities
12,841 
45,421 
Creditors: amounts falling due after more than one year
(100,694)
(103,828)
Provisions for liabilities
Deferred tax
(9,936)
(15,531)
Net liabilities
(97,789)
(73,938)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(97,889)
(74,038)
Shareholders' funds
(97,789)
(73,938)
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2023 and were signed on its behalf by
Andrew Macnab Director Company Registration No. SC438750
- 3 -
Cavalry Transport Limited Notes to the Accounts for the year ended 31 December 2022
1
Statutory information
Cavalry Transport Limited is a private company, limited by shares, registered in Scotland, registration number SC438750. The registered office is Unit 4B Sunnyside Farm, Macbiehill, West Linton, EH46 7AZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value of sales to customers, net of discounts and allowances, and excludes VAT. Sales of services are recognised when services have been provided and the right to consideration has been earned.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25%
Motor vehicles
25%
Fixtures & fittings
25%
Deferred taxation
Deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. A net deferred tax asset is regarded as recoverable and therefore recognised only to the extent that, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the reversal of the underlying timing differences can be deducted.
Going concern
The company has net liabilities at 31 December 2022 of £97,789, and net current assets of £12,841. The directors have confirmed that the loans they have provided, totaling £41,418, will only be repaid if other creditors are paid in full, and they have continued to meet all obligations in the period since the year end. On that basis it is reasonable to consider that the company is a going concern.
- 4 -
Cavalry Transport Limited Notes to the Accounts for the year ended 31 December 2022
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2022
6,667 
192,194 
779 
199,640 
Additions
- 
2,483 
- 
2,483 
At 31 December 2022
6,667 
194,677 
779 
202,123 
Depreciation
At 1 January 2022
1,667 
77,920 
585 
80,172 
Charge for the year
1,666 
48,667 
194 
50,527 
At 31 December 2022
3,333 
126,587 
779 
130,699 
Net book value
At 31 December 2022
3,334 
68,090 
- 
71,424 
At 31 December 2021
5,000 
114,274 
194 
119,468 
5
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
Trade debtors
20,363 
26,927 
Other debtors
12,045 
12,045 
32,408 
38,972 
6
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Bank loans and overdrafts
25,296 
22,754 
Obligations under finance leases and hire purchase contracts
24,308 
41,509 
Trade creditors
2,548 
253 
Taxes and social security
23,260 
38,988 
Loans from directors
15,918 
10,374 
91,330 
113,878 
7
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
24,331 
37,133 
Obligations under finance leases and hire purchase contracts
49,863 
66,695 
Loans from directors
26,500 
- 
100,694 
103,828 
8
Share capital
2022 
2021 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
- 5 -
Cavalry Transport Limited Notes to the Accounts for the year ended 31 December 2022
9
Transactions with related parties
The directors own the majority of the shares in Cavalry Garage Services Limited, which undertakes work for this company. At 31 December 2022, Cavalry Garage services owed £12,045 (2021 - £12,045) to Cavalry Transport Limited. Cavalry Garage Services Ltd ceased to trade on 31 May 2023.
10
Average number of employees
During the year the average number of employees was 6 (2021: 12).
- 6 -