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31/12/2022
2022-12-31
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No description of principal activities is disclosed
2022-01-01
Sage Accounts Production 21.1 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
NI665529
2022-01-01
2022-12-31
NI665529
2022-12-31
NI665529
2021-12-31
NI665529
2021-01-01
2021-12-31
NI665529
2021-12-31
NI665529
core:NetGoodwill
2022-01-01
2022-12-31
NI665529
core:PlantMachinery
2022-01-01
2022-12-31
NI665529
core:MotorVehicles
2022-01-01
2022-12-31
NI665529
bus:Director1
2022-01-01
2022-12-31
NI665529
core:NetGoodwill
2021-12-31
NI665529
core:NetGoodwill
2022-12-31
NI665529
core:PlantMachinery
2021-12-31
NI665529
core:MotorVehicles
2021-12-31
NI665529
core:PlantMachinery
2022-12-31
NI665529
core:MotorVehicles
2022-12-31
NI665529
core:WithinOneYear
2022-12-31
NI665529
core:WithinOneYear
2021-12-31
NI665529
core:AfterOneYear
2022-12-31
NI665529
core:AfterOneYear
2021-12-31
NI665529
core:ShareCapital
2022-12-31
NI665529
core:ShareCapital
2021-12-31
NI665529
core:RetainedEarningsAccumulatedLosses
2022-12-31
NI665529
core:RetainedEarningsAccumulatedLosses
2021-12-31
NI665529
core:NetGoodwill
2021-12-31
NI665529
core:PlantMachinery
2021-12-31
NI665529
core:MotorVehicles
2021-12-31
NI665529
bus:Director1
2021-12-31
NI665529
bus:Director1
2022-12-31
NI665529
bus:Director1
2020-12-31
NI665529
bus:Director1
2021-12-31
NI665529
bus:Director1
2021-01-01
2021-12-31
NI665529
bus:SmallEntities
2022-01-01
2022-12-31
NI665529
bus:AuditExempt-NoAccountantsReport
2022-01-01
2022-12-31
NI665529
bus:FullAccounts
2022-01-01
2022-12-31
NI665529
bus:SmallCompaniesRegimeForAccounts
2022-01-01
2022-12-31
NI665529
bus:PrivateLimitedCompanyLtd
2022-01-01
2022-12-31
Company registration number:
NI665529
S C Haulage Limited
Unaudited filleted financial statements
31 December 2022
S C Haulage Limited
Contents
Statement of financial position
Notes to the financial statements
S C Haulage Limited
Statement of financial position
31 December 2022
|
|
|
31/12/22 |
|
|
|
31/12/21 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Intangible assets |
|
5 |
42,500 |
|
|
|
46,250 |
|
|
Tangible assets |
|
6 |
542,228 |
|
|
|
590,402 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
584,728 |
|
|
|
636,652 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
7 |
316,966 |
|
|
|
456,421 |
|
|
Cash at bank and in hand |
|
|
147,670 |
|
|
|
177,419 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
464,636 |
|
|
|
633,840 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
8 |
(
600,009) |
|
|
|
(
768,649) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current liabilities |
|
|
|
|
(
135,373) |
|
|
|
(
134,809) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
449,355 |
|
|
|
501,843 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
9 |
|
|
(
216,483) |
|
|
|
(
264,291) |
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
44,308) |
|
|
|
(
35,017) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
188,564 |
|
|
|
202,535 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
1 |
|
|
|
1 |
Profit and loss account |
|
|
|
|
188,563 |
|
|
|
202,534 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholder funds |
|
|
|
|
188,564 |
|
|
|
202,535 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the period ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
09 November 2023
, and are signed on behalf of the board by:
Mr Shane Carey
Director
Company registration number:
NI665529
S C Haulage Limited
Notes to the financial statements
Period ended 31 December 2022
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 206 Eshnadarragh Road, Rosslea, Enniskillen, BT92 7NH.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
Althought the company has incurred a loss in the period under review, the director still considers it appropriate to prepare the accounts on a going concern basis.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
|
|
|
Goodwill |
- |
10 % |
straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Plant and machinery |
- |
20 % |
straight line |
|
Motor vehicles |
- |
20 % |
straight line |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Staff costs
The average number of persons employed by the company during the period amounted to
15
(2021:
9
).
The aggregate payroll costs incurred during the period were:
|
|
|
Year |
Period |
|
|
|
ended |
ended |
|
|
|
31/12/22 |
31/12/21 |
|
|
|
£ |
£ |
|
Wages and salaries |
|
437,418 |
292,855 |
|
Social security costs |
|
40,258 |
25,369 |
|
Other pension costs |
|
9,627 |
5,648 |
|
|
|
_______ |
_______ |
|
|
|
487,303 |
323,872 |
|
|
|
_______ |
_______ |
|
|
|
|
|
5.
Intangible assets
|
|
Goodwill |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At and 31 December 2022 |
50,000 |
50,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
|
At |
3,750 |
3,750 |
|
|
|
|
|
Charge for the period |
3,750 |
3,750 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 December 2022 |
7,500 |
7,500 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 December 2022 |
42,500 |
42,500 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 December 2021 |
46,250 |
46,250 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
Plant and machinery |
Motor vehicles |
Total |
|
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At |
230,219 |
405,488 |
635,707 |
|
|
|
|
|
Additions |
81,230 |
116,500 |
197,730 |
|
|
|
|
|
Disposals |
(
88,654) |
(
141,300) |
(
229,954) |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 December 2022 |
222,795 |
380,688 |
603,483 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At |
17,819 |
27,486 |
45,305 |
|
|
|
|
|
Charge for the year |
13,189 |
19,502 |
32,691 |
|
|
|
|
|
Disposals |
(
7,300) |
(
9,441) |
(
16,741) |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 December 2022 |
23,708 |
37,547 |
61,255 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 December 2022 |
199,087 |
343,141 |
542,228 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 December 2021 |
212,400 |
378,002 |
590,402 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
31/12/22 |
31/12/21 |
|
|
|
£ |
£ |
|
Trade debtors |
|
201,288 |
367,075 |
|
Amounts owed by related company |
|
3,388 |
15,577 |
|
Other debtors |
|
112,290 |
73,769 |
|
|
|
_______ |
_______ |
|
|
|
316,966 |
456,421 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
31/12/22 |
31/12/21 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
16,649 |
21,213 |
|
Trade creditors |
|
190,914 |
277,080 |
|
Social security and other taxes |
|
85,743 |
116,907 |
|
Other creditors |
|
306,703 |
353,449 |
|
|
|
_______ |
_______ |
|
|
|
600,009 |
768,649 |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Creditors: amounts falling due after more than one year
|
|
|
31/12/22 |
31/12/21 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
72,496 |
92,015 |
|
Other creditors |
|
143,987 |
172,276 |
|
|
|
_______ |
_______ |
|
|
|
216,483 |
264,291 |
|
|
|
_______ |
_______ |
|
|
|
|
|
10.
Directors advances, credits and guarantees
|
During the period the director entered into the following advances and credits with the company: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ended 31/12/22 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the director |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Mr Shane Carey |
(
281,133) |
142,400 |
(
101,157) |
(
239,890) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
Period ended 31/12/21 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the director |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Mr Shane Carey |
43,971 |
13,066 |
(
338,170) |
(
281,133) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
11.
Related party transactions
S C Haulage Limited
is controlled by Shane Carey who is also a director and beneficial owner of SAC Haulage (Ireland) Limited, a company registered in Ireland. During the period under review, transactions took place between both companies at arm's length. At the balance sheet date, an amount in the sum of £3,388 (2021: £15,577) was owed to by SAC Haulage (Ireland) Limited to S C Haulage Limited
.