IRIS Accounts Production v23.3.0.418 04791284 director 1.4.22 31.3.23 31.3.23 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure047912842022-03-31047912842023-03-31047912842022-04-012023-03-31047912842021-03-31047912842021-04-012022-03-31047912842022-03-3104791284ns16:EnglandWales2022-04-012023-03-3104791284ns15:PoundSterling2022-04-012023-03-3104791284ns11:Director12022-04-012023-03-3104791284ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3104791284ns11:SmallEntities2022-04-012023-03-3104791284ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3104791284ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3104791284ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3104791284ns11:FullAccounts2022-04-012023-03-310479128412022-04-012023-03-3104791284ns11:OrdinaryShareClass12022-04-012023-03-3104791284ns6:CurrentFinancialInstruments2023-03-3104791284ns6:CurrentFinancialInstruments2022-03-3104791284ns6:Non-currentFinancialInstruments2023-03-3104791284ns6:Non-currentFinancialInstruments2022-03-3104791284ns6:ShareCapital2023-03-3104791284ns6:ShareCapital2022-03-3104791284ns6:RetainedEarningsAccumulatedLosses2023-03-3104791284ns6:RetainedEarningsAccumulatedLosses2022-03-3104791284ns6:NetGoodwill2022-04-012023-03-3104791284ns6:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3104791284ns6:PlantMachinery2022-04-012023-03-3104791284ns6:FurnitureFittings2022-04-012023-03-3104791284ns6:MotorVehicles2022-04-012023-03-3104791284ns6:ComputerEquipment2022-04-012023-03-3104791284ns6:NetGoodwill2022-03-3104791284ns6:NetGoodwill2023-03-3104791284ns6:NetGoodwill2022-03-3104791284ns6:PlantMachinery2022-03-3104791284ns6:FurnitureFittings2022-03-3104791284ns6:MotorVehicles2022-03-3104791284ns6:ComputerEquipment2022-03-3104791284ns6:PlantMachinery2023-03-3104791284ns6:FurnitureFittings2023-03-3104791284ns6:MotorVehicles2023-03-3104791284ns6:ComputerEquipment2023-03-3104791284ns6:PlantMachinery2022-03-3104791284ns6:FurnitureFittings2022-03-3104791284ns6:MotorVehicles2022-03-3104791284ns6:ComputerEquipment2022-03-3104791284ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2022-03-3104791284ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2022-04-012023-03-3104791284ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2023-03-3104791284ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2022-03-3104791284ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3104791284ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3104791284ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2023-03-3104791284ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2022-03-3104791284ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2023-03-3104791284ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2022-03-3104791284ns6:AcceleratedTaxDepreciationDeferredTax2023-03-3104791284ns6:AcceleratedTaxDepreciationDeferredTax2022-03-3104791284ns6:DeferredTaxation2022-03-3104791284ns6:DeferredTaxation2022-04-012023-03-3104791284ns6:DeferredTaxation2023-03-3104791284ns11:OrdinaryShareClass12023-03-31
REGISTERED NUMBER: 04791284 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

PHILL BASCOMBE TRANSPORT LIMITED

PHILL BASCOMBE TRANSPORT LIMITED (REGISTERED NUMBER: 04791284)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Balance sheet 1

Notes to the financial statements 3


PHILL BASCOMBE TRANSPORT LIMITED (REGISTERED NUMBER: 04791284)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - 10,329
Tangible assets 5 1,023,240 492,249
1,023,240 502,578

Current assets
Stocks 40,000 26,250
Debtors 6 396,479 322,160
Cash at bank 590,004 415,077
1,026,483 763,487
Creditors
Amounts falling due within one year 7 788,374 250,134
Net current assets 238,109 513,353
Total assets less current liabilities 1,261,349 1,015,931

Creditors
Amounts falling due after more than one year 8 (302,951 ) (178,136 )

Provisions for liabilities 10 (199,398 ) (93,527 )
Net assets 759,000 744,268

Capital and reserves
Called up share capital 11 1 1
Retained earnings 758,999 744,267
Shareholders' funds 759,000 744,268

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PHILL BASCOMBE TRANSPORT LIMITED (REGISTERED NUMBER: 04791284)

BALANCE SHEET - continued
31 MARCH 2023


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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 October 2023 and were signed by:





Mr P J Bascombe - Director


PHILL BASCOMBE TRANSPORT LIMITED (REGISTERED NUMBER: 04791284)

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


1. Statutory information

Phill Bascombe Transport Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 04791284. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and business address is Clump Hill Farm, Mannington, Wimborne, Dorset, BH21 7JT.

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 amounts receivable in respect of haulage services, net of VAT and trade discounts.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of fifteen years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stock and Work In Progress are valued at the lower of cost and net realisable value.

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 is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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.

PHILL BASCOMBE TRANSPORT LIMITED (REGISTERED NUMBER: 04791284)

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


2. Accounting policies - continued

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 10 (2022 - 10 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 April 2022
and 31 March 2023 155,000
Amortisation
At 1 April 2022 144,671
Charge for year 10,329
At 31 March 2023 155,000
Net book value
At 31 March 2023 -
At 31 March 2022 10,329

PHILL BASCOMBE TRANSPORT LIMITED (REGISTERED NUMBER: 04791284)

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


5. Tangible fixed assets
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 April 2022 23,995 5,123 1,519,474 4,345 1,552,937
Additions - - 841,375 - 841,375
Disposals - - (527,281 ) - (527,281 )
At 31 March 2023 23,995 5,123 1,833,568 4,345 1,867,031
Depreciation
At 1 April 2022 23,995 4,635 1,027,988 4,070 1,060,688
Charge for year - 122 148,257 275 148,654
Eliminated on disposal - - (365,551 ) - (365,551 )
At 31 March 2023 23,995 4,757 810,694 4,345 843,791
Net book value
At 31 March 2023 - 366 1,022,874 - 1,023,240
At 31 March 2022 - 488 491,486 275 492,249

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
Cost
At 1 April 2022 1,021,781
Additions 750,300
Disposals (28,000 )
Transfer to ownership (439,281 )
At 31 March 2023 1,304,800
Depreciation
At 1 April 2022 622,676
Charge for year 127,119
Eliminated on disposal (7,000 )
Transfer to ownership (319,551 )
At 31 March 2023 423,244
Net book value
At 31 March 2023 881,556
At 31 March 2022 399,105

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 261,478 217,432
Other debtors 119,515 92,289
Prepayments and accrued income 15,486 12,439
396,479 322,160

PHILL BASCOMBE TRANSPORT LIMITED (REGISTERED NUMBER: 04791284)

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


7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 9,840 9,634
Hire purchase contracts 147,671 106,220
Trade creditors 32,548 30,355
Amounts owed to group undertakings 400,000 -
Tax - 26,047
Social security and other taxes 9,263 6,249
VAT 148,279 54,232
Other creditors 7,210 -
Directors' current accounts 29,213 13,247
Accruals and deferred income 4,350 4,150
788,374 250,134

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans - 1-2 years 10,050 9,840
Bank loans - 2-5 years 18,142 28,130
Hire purchase contracts 274,759 140,166
302,951 178,136

9. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 422,430 246,386

Amounts owed under hire purchase are secured against the asset to which they relate.

10. Provisions for liabilities
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 199,398 93,527

Deferred
tax
£   
Balance at 1 April 2022 93,527
Charge to Income statement during year 105,871
Balance at 31 March 2023 199,398

PHILL BASCOMBE TRANSPORT LIMITED (REGISTERED NUMBER: 04791284)

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


11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1.00 1 1

12. Ultimate controlling party

The company is controlled by the director, Mr P Bascombe, by virtue of his 100% ownership of the voting share capital in the ultimate parent company, Bascombe Holdings Limited.

The parent company's registered office address is 7&8 Church Street, Wimborne, Dorset, BH21 1JH.