Healey Transport Limited 30/06/2023 iXBRL

Company registration number: 01447415

Healey Transport Limited

Unaudited filleted financial statements

30 June 2023

Healey Transport Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Healey Transport Limited

Directors and other information


Director	Mr Ivan Arthur Healey
	Mr Neil Wilson	(Appointed 1 July 2023)
	Mr Simon Healey	(Appointed 1 July 2023)


Secretary	Mrs J W Healey


Company number	01447415


Registered office	Twinheart
	Herring Lane
	Pinchbeck
	Spalding
	PE11 3ST


Business address	Twinheart
	Herring Lane
	Pinchbeck
	Spalding
	PE11 3ST


Accountants	Lister & Co
	75 High Street
	Boston
	Lincs
	PE21 8SX

Healey Transport Limited

Report to the director on the preparation of the

unaudited statutory financial statements of Healey Transport Limited

Year ended 30 June 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Healey Transport Limited for the year ended 30 June 2023 which comprise the statement of financial position and 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/en/member/ professional-standards/ rules-standards/acca-rulebook.html.

This report is made solely to the director of Healey Transport Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Healey Transport Limited and state those matters that we have agreed to state to them, 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/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Healey Transport Limited and its director as a body for our work or for this report.

It is your duty to ensure that Healey Transport 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 Healey Transport Limited. You consider that Healey Transport 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 Healey Transport 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.

Lister & Co

ACCA

75 High Street

Boston

Lincs

PE21 8SX

20 September 2023

Healey Transport Limited

Statement of financial position

30 June 2023

		2023		2022
	Note	£	£	£	£

Fixed assets
Tangible assets	5	703,764		661,767
		_______		_______
			703,764		661,767

Current assets
Stocks		3,200		1,335
Debtors	6	418,174		475,146
Cash at bank and in hand		183,557		267,939
		_______		_______
		604,931		744,420
Creditors: amounts falling due
within one year	7	( 155,309)		( 356,113)
		_______		_______
Net current assets			449,622		388,307
			_______		_______
Total assets less current liabilities			1,153,386		1,050,074


Provisions for liabilities			( 173,578)		( 142,032)

			_______		_______
Net assets			979,808		908,042
			_______		_______

Capital and reserves
Called up share capital	8		200		200
Profit and loss account			979,608		907,842
			_______		_______
Shareholders funds			979,808		908,042
			_______		_______

For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 20 September 2023 , and are signed on behalf of the board by:

Mr Ivan Arthur Healey

Director

Company registration number: 01447415

Healey Transport Limited

Notes to the financial statements

Year ended 30 June 2023

1. General information

The company is a private company limited by shares, registered in England. The address of the registered office is Twinheart, Herring Lane, Pinchbeck, Spalding, PE11 3ST.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	20 %	reducing balance
Fittings fixtures and equipment	-	20 %	reducing balance
Motor vehicles	-	25 %	reducing balance
Solar Panels	-	7 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 10 (2022: 11 ).

5. Tangible assets

	Freehold property	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 July 2022	43,544	374,761	1,893	1,040,360	1,460,558
Additions	-	120,495	-	135,000	255,495
Disposals	-	( 22,500)	( 1,171)	( 78,995)	( 102,666)
	_______	_______	_______	_______	_______
At 30 June 2023	43,544	472,756	722	1,096,365	1,613,387
	_______	_______	_______	_______	_______
Depreciation
At 1 July 2022	23,950	239,478	1,218	534,145	798,791
Charge for the year	2,903	40,421	88	147,474	190,886
Disposals	-	( 17,703)	( 930)	( 61,421)	( 80,054)
	_______	_______	_______	_______	_______
At 30 June 2023	26,853	262,196	376	620,198	909,623
	_______	_______	_______	_______	_______
Carrying amount
At 30 June 2023	16,691	210,560	346	476,167	703,764
	_______	_______	_______	_______	_______
At 30 June 2022	19,594	135,283	675	506,215	661,767
	_______	_______	_______	_______	_______

6. Debtors

	2023	2022
	£	£
Trade debtors	357,116	427,876
Prepayments and accrued income	49,058	47,270
	_______	_______
	418,174	475,146
	_______	_______

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	73,375	273,668
Accruals and deferred income	9,718	13,266
Social security and other taxes	53,823	31,076
Director loan accounts	18,393	37,442
Other creditors	-	661
	_______	_______
	155,309	356,113
	_______	_______

8. Called up share capital

Issued, called up and fully paid

	2023		2022
	No	£	No	£
Ordinary shares shares of £ 1.00 each	200	200	200	200
	_______	_______	_______	_______

9. Other financial commitments

Finanacial commitments not included in the balance sheet at the year end amounted to £2031.