REGISTERED NUMBER: |
ALAN BEASLEY TRANSPORT LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
REGISTERED NUMBER: |
ALAN BEASLEY TRANSPORT LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
ALAN BEASLEY TRANSPORT LTD (REGISTERED NUMBER: 05729330) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ALAN BEASLEY TRANSPORT LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Churchfield House |
36 Vicar Street |
Dudley |
West Midlands |
DY2 8RG |
ALAN BEASLEY TRANSPORT LTD (REGISTERED NUMBER: 05729330) |
BALANCE SHEET |
31 MARCH 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
ALAN BEASLEY TRANSPORT LTD (REGISTERED NUMBER: 05729330) |
BALANCE SHEET - continued |
31 MARCH 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
ALAN BEASLEY TRANSPORT LTD (REGISTERED NUMBER: 05729330) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
Alan Beasley Transport Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The financial statements are rounded to the nearest £. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts have been completed on a going concern basis on the assumption that the director will continue to support the company. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover is recognised when the services are performed for the customer. |
Goodwill |
Goodwill was the amount paid in connection with the acquisition of the business. This was amortised evenly over its estimated useful life and has been fully amortised. |
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 |
Plant and machinery | - |
Motor vehicles | - |
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 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 |
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. |
ALAN BEASLEY TRANSPORT LTD (REGISTERED NUMBER: 05729330) |
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. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
Cash and cash equivalents |
Cash and cash equivalents includes deposits held at call banks. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
Creditors |
Short term creditors are measured at transaction price, less any impairment. |
Going concern |
The company is owed money from a related party as disclosed in note 12. Therefore if the company is not repaid the company may not be able to continue to meet its liabilities as they fall due. However the director believes the related party debtor will be repaid and therefore the accounts have been prepared on a going concern basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2022 |
and 31 March 2023 |
AMORTISATION |
At 1 April 2022 |
and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
ALAN BEASLEY TRANSPORT LTD (REGISTERED NUMBER: 05729330) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2022 |
Additions |
Disposals | ( |
) |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
The net book value of tangible fixed assets includes £84,245 (2022 £92,834) in respect of assets held under hire purchase contracts. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by participating interests | 526,447 | 428,313 |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
ALAN BEASLEY TRANSPORT LTD (REGISTERED NUMBER: 05729330) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Hire purchase contracts |
Taxation and social security |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Hire purchase contracts | 75,106 | 29,344 |
Novuna Business Finance | 207,136 | 207,289 |
A debenture is held by HSBC Bank plc to secure monies and liabilities incurred by the company whether now or in the future. |
A charge was created 16 June 2021, held by HSBC UK Bank plc for security over cash deposits containing fixed charges and a negative pledge over the assets of the company. |
A debenture, dated 30 September 2020, is held by Novuna Business Finance containing a fixed and floating charge and a negative pledge over assets of the company. |
A W Pallant, the director of the company, has given a personal guarantee to Time Finance for assets held under a hire purchase agreement. The assets have a net book value of £84,245 as at 31 March 2023. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1.00 | 2 | 2 |
11. | OTHER FINANCIAL COMMITMENTS |
The company has future operating lease commitments of £1,252 (2022 £56,297). |
A W Pallant, the director of the company, has given a personal guarantee for future operating lease commitments of £Nil (2022 £11,580). |
12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
During the year the company recharged A W Pallant, a director of the company, £45,636 total gross for truck hire and drivers. A W Pallant recharged the company £36,561 total gross for truck hire and drivers. The company made net payments of £184,059 to A W Pallant. A W Pallant charged the company £95,000 net for management charges. |
As at 31 March 2023 £526,447 (2022 £428,313) was due to the company from A W Pallant. |