15 31/12/2022 2022-12-31 false false false false false false false false false false true false false true false false false false false true false 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 .