Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01true4falseNo description of principal activity4trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC493619 2022-04-01 2023-03-31 SC493619 2021-04-01 2022-03-31 SC493619 2023-03-31 SC493619 2022-03-31 SC493619 c:Director1 2022-04-01 2023-03-31 SC493619 c:Director2 2022-04-01 2023-03-31 SC493619 c:RegisteredOffice 2022-04-01 2023-03-31 SC493619 d:MotorVehicles 2022-04-01 2023-03-31 SC493619 d:MotorVehicles 2023-03-31 SC493619 d:MotorVehicles 2022-03-31 SC493619 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SC493619 d:CurrentFinancialInstruments 2023-03-31 SC493619 d:CurrentFinancialInstruments 2022-03-31 SC493619 d:Non-currentFinancialInstruments 2023-03-31 SC493619 d:Non-currentFinancialInstruments 2022-03-31 SC493619 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC493619 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 SC493619 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 SC493619 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 SC493619 d:ShareCapital 2023-03-31 SC493619 d:ShareCapital 2022-03-31 SC493619 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC493619 d:RetainedEarningsAccumulatedLosses 2022-03-31 SC493619 c:OrdinaryShareClass1 2022-04-01 2023-03-31 SC493619 c:OrdinaryShareClass1 2023-03-31 SC493619 c:OrdinaryShareClass1 2022-03-31 SC493619 c:FRS102 2022-04-01 2023-03-31 SC493619 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 SC493619 c:FullAccounts 2022-04-01 2023-03-31 SC493619 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC493619










MELROSE HAULAGE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

 
MELROSE HAULAGE LIMITED
 

COMPANY INFORMATION


DIRECTORS
D R Allan 
S D Allan 




REGISTERED NUMBER
SC493619



REGISTERED OFFICE
Westby
64 West High Street

Forfar

Angus

DD8 1BJ




ACCOUNTANTS
EQ Accountants LLP
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
MELROSE HAULAGE LIMITED
REGISTERED NUMBER:SC493619

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
£
£

FIXED ASSETS
  

Tangible assets
 4 
1,047,554
742,507

  
1,047,554
742,507

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
285,576
306,817

Cash at bank and in hand
  
65,837
31,273

  
351,413
338,090

Creditors: amounts falling due within one year
 6 
(407,076)
(348,293)

NET CURRENT LIABILITIES
  
 
 
(55,663)
 
 
(10,203)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
991,891
732,304

Creditors: amounts falling due after more than one year
 7 
(116,205)
(82,971)

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(162,151)
(138,619)

  
 
 
(162,151)
 
 
(138,619)

NET ASSETS
  
713,535
510,714


CAPITAL AND RESERVES
  

Called up share capital 
 8 
100
100

Profit and loss account
  
713,435
510,614

  
713,535
510,714


Page 1

 
MELROSE HAULAGE LIMITED
REGISTERED NUMBER:SC493619

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 August 2023.




D R Allan
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
MELROSE HAULAGE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1.


GENERAL INFORMATION

Melrose Haulage Limited is a private company, limited by shares, domiciled in Scotland, registration number SC493619. The registered office is westby, 64 West High Street, Forfar, Angus, DD8 1BJ. The principal place of business is Newton of Melrose, Gamrie, Banff, AB45 3EQ.
The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £. 

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
MELROSE HAULAGE LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.ACCOUNTING POLICIES (continued)

 
2.3

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.4

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
12.5%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of financial position when the
Page 4

 
MELROSE HAULAGE LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.ACCOUNTING POLICIES (continued)


2.5
FINANCIAL INSTRUMENTS (CONTINUED)

Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate
Page 5

 
MELROSE HAULAGE LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.ACCOUNTING POLICIES (continued)


2.5
FINANCIAL INSTRUMENTS (CONTINUED)

method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

Page 6

 
MELROSE HAULAGE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


4.


TANGIBLE FIXED ASSETS





Motor vehicles

£



COST OR VALUATION


At 1 April 2022
1,049,755


Additions
468,770


Disposals
(24,000)



At 31 March 2023

1,494,525



DEPRECIATION


At 1 April 2022
307,248


Charge for the year on owned assets
149,655


Disposals
(9,932)



At 31 March 2023

446,971



NET BOOK VALUE



At 31 March 2023
1,047,554



At 31 March 2022
742,507


5.


DEBTORS

2023
2022
£
£


Trade debtors
284,733
305,501

Prepayments and accrued income
843
1,316

285,576
306,817


Page 7

 
MELROSE HAULAGE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Trade creditors
67,144
141,779

Amounts owed to group undertakings
188,758
93,194

Other taxation and social security
7,131
-

Obligations under finance lease and hire purchase contracts
140,445
111,420

Other creditors
3,598
1,900

407,076
348,293


Hire purchase liabilities are secured over the assets to which they relate.


7.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
116,205
82,971

116,205
82,971


Hire purchase liabilities are secured over the assets to which they relate.


8.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



Page 8