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REGISTERED NUMBER: 01586670 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2023

for

E. VALLANCE TRANSPORT SERVICES LIMITED

E. VALLANCE TRANSPORT SERVICES LIMITED (REGISTERED NUMBER: 0158667






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


E. VALLANCE TRANSPORT SERVICES LIMITED

Company Information
for the Year Ended 31 January 2023







DIRECTORS: Mr S E Vallance
Mrs D A Vallance



SECRETARY: Mrs D A Vallance



REGISTERED OFFICE: Unit 2 Aldon Road
Poulton Industrial Estate
Poulton-le-Fylde
Lancashire
FY6 8JL



REGISTERED NUMBER: 01586670 (England and Wales)



BANKERS: HSBC Bank plc
1 Newhouse Road
Blackpool
Lancashire
FY4 4YH

E. VALLANCE TRANSPORT SERVICES LIMITED (REGISTERED NUMBER: 0158667

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,268,574 1,645,114

CURRENT ASSETS
Stocks 56,592 51,752
Debtors 5 856,088 717,273
Cash in hand 1,495,645 940,098
2,408,325 1,709,123
CREDITORS
Amounts falling due within one year 6 1,009,670 761,033
NET CURRENT ASSETS 1,398,655 948,090
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,667,229

2,593,204

CREDITORS
Amounts falling due after more than one
year

7

(364,842

)

(593,214

)

PROVISIONS FOR LIABILITIES (185,635 ) (200,663 )
NET ASSETS 2,116,752 1,799,327

CAPITAL AND RESERVES
Called up share capital 100 100
Capital redemption reserve 11 11
Retained earnings 2,116,641 1,799,216
SHAREHOLDERS' FUNDS 2,116,752 1,799,327

E. VALLANCE TRANSPORT SERVICES LIMITED (REGISTERED NUMBER: 0158667

Balance Sheet - continued
31 January 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2023 and were signed on its behalf by:





Mr S E Vallance - Director


E. VALLANCE TRANSPORT SERVICES LIMITED (REGISTERED NUMBER: 0158667

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

E. Vallance Transport Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents net amounts invoiced, excluding value added tax.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property - 2% on cost
Plant and machinery - 25% on cost
Motor vehicles - 10%, 15%, 20% and 25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the disposal proceeds and the carrying value of the asset and is credited or charged to Profit and Loss.

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 Income Statement, 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

The tax currently payable is based on the taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income and expenses that are taxable or deductible in other years and it further excludes that are not taxable or deductible.


E. VALLANCE TRANSPORT SERVICES LIMITED (REGISTERED NUMBER: 0158667

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

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 defined contribution pension schemes for directors and certain employees. Contributions payable to the company's pension schemes are charged to profit or loss in the period to which they relate.

Financial instruments
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised cost, net of impairment.

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts.

Trade and other creditors are initially recognised at the transaction price and are therefore stated at amortised cost using the effective interest method unless the discounting would be immaterial, in which case they are stated at cost.

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 50 (2022 - 50 ) .

E. VALLANCE TRANSPORT SERVICES LIMITED (REGISTERED NUMBER: 0158667

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 February 2022 335,581 254,331 3,444,159 4,034,071
Additions - 10,026 38,124 48,150
Disposals - - (95,977 ) (95,977 )
At 31 January 2023 335,581 264,357 3,386,306 3,986,244
DEPRECIATION
At 1 February 2022 23,086 175,934 2,189,937 2,388,957
Charge for year 6,687 21,105 396,898 424,690
Eliminated on disposal - - (95,977 ) (95,977 )
At 31 January 2023 29,773 197,039 2,490,858 2,717,670
NET BOOK VALUE
At 31 January 2023 305,808 67,318 895,448 1,268,574
At 31 January 2022 312,495 78,397 1,254,222 1,645,114

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 February 2022 1,590,183
Transfer to ownership (1,900 )
At 31 January 2023 1,588,283
DEPRECIATION
At 1 February 2022 625,702
Charge for year 283,011
At 31 January 2023 908,713
NET BOOK VALUE
At 31 January 2023 679,570
At 31 January 2022 964,481

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 732,069 598,834
Other debtors 1,809 2,065
Prepayments 122,210 116,374
856,088 717,273

E. VALLANCE TRANSPORT SERVICES LIMITED (REGISTERED NUMBER: 0158667

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans 15,794 15,605
Hire purchase contracts (see note 8) 214,160 275,113
Trade creditors 332,679 182,061
Taxation and social security 365,249 155,626
Other creditors 81,788 132,628
1,009,670 761,033

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans 30,573 44,351
Hire purchase contracts (see note 8) 334,269 548,863
364,842 593,214

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.1.23 31.1.22
£    £   
Net obligations repayable:
Within one year 214,160 275,113
Between one and five years 334,269 548,863
548,429 823,976

Non-cancellable operating leases
31.1.23 31.1.22
£    £   
Within one year 57,000 15,220
Between one and five years 73,000 173,750
130,000 188,970

E. VALLANCE TRANSPORT SERVICES LIMITED (REGISTERED NUMBER: 0158667

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

31.1.23 31.1.22
£    £   
Bank Loans 46,367 59,956
Hire purchase contracts 548,429 823,975
594,796 883,931

HSBC hold a First Legal Mortgage over the freehold property of E Vallance Transport Services Ltd known as Unit 14, Aldon Road, Poulton-le-Fylde, FY6 8JL. The hire purchase contracts are secured by fixed charges over the assets subject to the hire purchase contracts.

10. CAPITAL COMMITMENTS
31.1.23 31.1.22
£    £   
Contracted but not provided for in the
financial statements 171,600 -