Silverfin false 31/03/2023 01/04/2022 31/03/2023 R C Wickham 20/10/2000 S E Wickham 01/02/2021 02 November 2023 The principal activity of the Company during the financial year was that of haulage and supply of ready mixed concrete. 04093743 2023-03-31 04093743 bus:Director1 2023-03-31 04093743 bus:Director2 2023-03-31 04093743 2022-03-31 04093743 core:CurrentFinancialInstruments 2023-03-31 04093743 core:CurrentFinancialInstruments 2022-03-31 04093743 core:Non-currentFinancialInstruments 2023-03-31 04093743 core:Non-currentFinancialInstruments 2022-03-31 04093743 core:ShareCapital 2023-03-31 04093743 core:ShareCapital 2022-03-31 04093743 core:RetainedEarningsAccumulatedLosses 2023-03-31 04093743 core:RetainedEarningsAccumulatedLosses 2022-03-31 04093743 core:PlantMachinery 2022-03-31 04093743 core:Vehicles 2022-03-31 04093743 core:FurnitureFittings 2022-03-31 04093743 core:PlantMachinery 2023-03-31 04093743 core:Vehicles 2023-03-31 04093743 core:FurnitureFittings 2023-03-31 04093743 bus:OrdinaryShareClass1 2023-03-31 04093743 core:WithinOneYear 2023-03-31 04093743 core:WithinOneYear 2022-03-31 04093743 core:BetweenOneFiveYears 2023-03-31 04093743 core:BetweenOneFiveYears 2022-03-31 04093743 2022-04-01 2023-03-31 04093743 bus:FullAccounts 2022-04-01 2023-03-31 04093743 bus:SmallEntities 2022-04-01 2023-03-31 04093743 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 04093743 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04093743 bus:Director1 2022-04-01 2023-03-31 04093743 bus:Director2 2022-04-01 2023-03-31 04093743 core:PlantMachinery core:TopRangeValue 2022-04-01 2023-03-31 04093743 core:Vehicles core:TopRangeValue 2022-04-01 2023-03-31 04093743 core:FurnitureFittings core:TopRangeValue 2022-04-01 2023-03-31 04093743 2021-04-01 2022-03-31 04093743 core:PlantMachinery 2022-04-01 2023-03-31 04093743 core:Vehicles 2022-04-01 2023-03-31 04093743 core:FurnitureFittings 2022-04-01 2023-03-31 04093743 core:CurrentFinancialInstruments 2022-04-01 2023-03-31 04093743 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 04093743 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 04093743 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04093743 (England and Wales)

OTTERVALE HAULAGE LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

OTTERVALE HAULAGE LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

OTTERVALE HAULAGE LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2023
OTTERVALE HAULAGE LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2023
DIRECTORS R C Wickham
S E Wickham
REGISTERED OFFICE Centenary House Peninsula Park
Rydon Lane
Exeter
EX2 7XE
United Kingdom
BUSINESS ADDRESS Greendale Business Park
Woodbury Salterton
Exeter
Devon
EX5 1EW
COMPANY NUMBER 04093743 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
OTTERVALE HAULAGE LIMITED

BALANCE SHEET

As at 31 March 2023
OTTERVALE HAULAGE LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 695,816 634,792
695,816 634,792
Current assets
Stocks 14,183 13,906
Debtors 4 303,950 252,167
Cash at bank and in hand 228,285 267,491
546,418 533,564
Creditors: amounts falling due within one year 5 ( 630,934) ( 592,727)
Net current liabilities (84,516) (59,163)
Total assets less current liabilities 611,300 575,629
Creditors: amounts falling due after more than one year 6 ( 380,761) ( 421,048)
Provision for liabilities ( 119,500) ( 104,000)
Net assets 111,039 50,581
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account 111,037 50,579
Total shareholder's funds 111,039 50,581

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Ottervale Haulage Limited (registered number: 04093743) were approved and authorised for issue by the Board of Directors on 02 November 2023. They were signed on its behalf by:

R C Wickham
Director
OTTERVALE HAULAGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
OTTERVALE HAULAGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ottervale Haulage Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales.
The address of the Company's registered office is
Centenary House Peninsula Park
Rydon Lane
Exeter
Devon
EX2 7XE

The principal place of business is:
Greendale Business Park
Woodbury Salterton
Exeter
Devon
EX5 1EW

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery 5 years straight line
Vehicles 5 years straight line
Fixtures and fittings 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 15 15

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £
Cost
At 01 April 2022 188,018 1,901,915 17,353 2,107,286
Additions 0 285,229 0 285,229
Disposals 0 ( 339,284) 0 ( 339,284)
At 31 March 2023 188,018 1,847,860 17,353 2,053,231
Accumulated depreciation
At 01 April 2022 127,988 1,328,373 16,133 1,472,494
Charge for the financial year 25,645 198,175 385 224,205
Disposals 0 ( 339,284) 0 ( 339,284)
At 31 March 2023 153,633 1,187,264 16,518 1,357,415
Net book value
At 31 March 2023 34,385 660,596 835 695,816
At 31 March 2022 60,030 573,542 1,220 634,792

4. Debtors

2023 2022
£ £
Trade debtors 273,051 210,864
Prepayments 28,399 17,503
Other debtors 2,500 23,800
303,950 252,167

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 130,948 109,421
Amounts owed to Group undertakings 175,798 190,285
Amounts owed to directors 67,000 77,000
Accruals 9,101 9,604
Taxation and social security 78,484 52,275
Obligations under finance leases and hire purchase contracts (secured) 161,780 148,842
Other creditors 7,823 5,300
630,934 592,727

The hire purchase contracts are secured over the respective assets to which they relate.

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Obligations under finance leases and hire purchase contracts (secured) 380,761 421,048

The hire purchase contracts are secured over the respective assets to which they relate.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

8. Financial commitments

Commitments

Capital commitments are as follows:

2023 2022
£ £
Contracted for but not provided for:
tangible fixed assets 0 107,000

The above commitments relate to an upgrade of an existing asset. Work was completed in May 2022.

Total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
within one year 34,800 28,350
between one and five years 90,000 99,225
124,800 127,575