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Registered Number: 08397678
England and Wales

 

 

 


Filleted accounts

for the year ended 28 February 2023

for

PRESCOTT HAULAGE INTERNATIONAL LIMITED

 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 410,433    258,323 
410,433    258,323 
Current assets      
Debtors 4 316,972    347,357 
Cash at bank and in hand 15,066    47,750 
332,038    395,107 
Creditors: amount falling due within one year 5 (531,684)   (388,415)
Net current liabilities (199,646)   6,692 
 
Total assets less current liabilities 210,787    265,015 
Creditors: amount falling due after more than one year 6 (142,169)   (244,127)
Net assets 68,618    20,888 
 

Capital and reserves
     
Called up share capital 7 2    2 
Profit and loss account 68,616    20,886 
Shareholder's funds 68,618    20,888 
 


For the year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 15 November 2023 and were signed by:


-------------------------------
Christopher Prescot
Director
1
General Information
Prescott Haulage International Limited is a private company, limited by shares, registered in England and Wales, registration number 08397678, registration address Penny Lane Business Centre, 374 Smithdown Road, Liverpool, Merseyside, L15 5AN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
2.

Average number of employees



Average number of employees during the year was 13 (2022 : 18).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Total
  £   £   £
At 01 March 2022 475,700    108,460    584,160 
Additions 57,950    184,391    242,341 
Disposals (39,200)     (39,200)
At 28 February 2023 494,450    292,851    787,301 
Depreciation
At 01 March 2022 251,533    74,304    325,837 
Charge for year 68,204    12,725    80,929 
On disposals (29,898)     (29,898)
At 28 February 2023 289,839    87,029    376,868 
Net book values
Closing balance as at 28 February 2023 204,611    205,822    410,433 
Opening balance as at 01 March 2022 224,167    34,156    258,323 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 316,972    347,357 
316,972    347,357 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 325,074    312,826 
PAYE & Social Security 6,782    7,885 
Accrued Expenses 300    300 
Directors' Current Accounts 179,601    33,295 
VAT 19,927    34,109 
531,684    388,415 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 32,549    43,494 
Obligations Under HP/Financial Leases 109,620    200,633 
142,169    244,127 

7.

Share Capital

Authorised
1 Ordinary share of £1.00 each
1 B Ordinary share of £1.00 each
Allotted, called up and fully paid
2023
£
  2022
£
1 Ordinary share of £1.00 each  
1 B Ordinary share of £1.00 each  
 

2