Registered number
13147637
Manchett's Transport Ltd
Filleted Accounts
31 March 2023
Manchett's Transport Ltd
Registered number: 13147637
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 373,461 159,414
Current assets
Stocks 20,784 25,407
Debtors 4 673,409 554,525
Cash at bank and in hand 1,247,760 874,441
1,941,953 1,454,373
Creditors: amounts falling due within one year 5 (770,177) (847,360)
Net current assets 1,171,776 607,013
Total assets less current liabilities 1,545,237 766,427
Provisions for liabilities (29,971) (16,557)
Net assets 1,515,266 749,870
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 1,514,266 748,870
Shareholders' funds 1,515,266 749,870
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P D Manchett
Director
Approved by the board on 2 November 2023
Manchett's Transport Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services and is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 22 19
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 47,728 105,366 40,825 193,919
Additions 186,120 32,850 40,000 258,970
Disposals - - (4,727) (4,727)
At 31 March 2023 233,848 138,216 76,098 448,162
Depreciation
At 1 April 2022 - 24,299 10,206 34,505
Charge for the year - 25,443 15,935 41,378
On disposals - - (1,182) (1,182)
At 31 March 2023 - 49,742 24,959 74,701
Net book value
At 31 March 2023 233,848 88,474 51,139 373,461
At 31 March 2022 47,728 81,067 30,619 159,414
4 Debtors 2023 2022
£ £
Trade debtors 390,296 399,528
Other debtors 283,113 154,997
673,409 554,525
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 392,001 286,926
Taxation and social security costs 296,523 254,403
Other creditors 81,653 306,031
770,177 847,360
6 Other information
Manchett's Transport Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Heath Road
Warboys
Huntingdon
Cambridgeshire
PE28 2UU
Manchett's Transport Ltd 13147637 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts October 2023 release 2 P D Manchett No description of principal activity 13147637 2021-01-20 2022-03-31 13147637 core:WithinOneYear 2022-03-31 13147637 core:ShareCapital 2022-03-31 13147637 core:RetainedEarningsAccumulatedLosses 2022-03-31 13147637 2022-04-01 2023-03-31 13147637 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 13147637 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 13147637 bus:Director40 2022-04-01 2023-03-31 13147637 1 2022-04-01 2023-03-31 13147637 2 2022-04-01 2023-03-31 13147637 core:LandBuildings 2022-04-01 2023-03-31 13147637 core:PlantMachinery 2022-04-01 2023-03-31 13147637 core:Vehicles 2022-04-01 2023-03-31 13147637 countries:England 2022-04-01 2023-03-31 13147637 bus:FRS102 2022-04-01 2023-03-31 13147637 bus:FullAccounts 2022-04-01 2023-03-31 13147637 2023-03-31 13147637 core:WithinOneYear 2023-03-31 13147637 core:ShareCapital 2023-03-31 13147637 core:RetainedEarningsAccumulatedLosses 2023-03-31 13147637 core:LandBuildings 2023-03-31 13147637 core:PlantMachinery 2023-03-31 13147637 core:Vehicles 2023-03-31 13147637 2022-03-31 13147637 core:LandBuildings 2022-03-31 13147637 core:PlantMachinery 2022-03-31 13147637 core:Vehicles 2022-03-31 iso4217:GBP xbrli:pure