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REGISTERED NUMBER: 03011958 (England and Wales)















Intake Transport Limited

Unaudited Financial Statements For The Year Ended 28 February 2023






Intake Transport Limited (Registered number: 03011958)






Contents of the Financial Statements
For The Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Intake Transport Limited

Company Information
For The Year Ended 28 February 2023







DIRECTORS: J D Burgin
R J Burgin
D Burgin
G L Jenkinson





SECRETARY: J D Burgin





REGISTERED OFFICE: Sidings Court
Lakeside
Doncaster
DN4 5NU





REGISTERED NUMBER: 03011958 (England and Wales)





ACCOUNTANTS: Kingswood Allotts Limited
Chartered Accountants
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU

Intake Transport Limited (Registered number: 03011958)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,030,870 2,238,167

CURRENT ASSETS
Debtors 5 1,435,114 1,402,247
Cash at bank and in hand 7,418 8,869
1,442,532 1,411,116
CREDITORS
Amounts falling due within one year 6 2,442,116 2,522,524
NET CURRENT LIABILITIES (999,584 ) (1,111,408 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,031,286 1,126,759

CREDITORS
Amounts falling due after more than one
year

7

(621,138

)

(781,430

)

PROVISIONS FOR LIABILITIES (330,530 ) (245,120 )
NET ASSETS 79,618 100,209

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 79,518 100,109
SHAREHOLDERS' FUNDS 79,618 100,209

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Intake Transport Limited (Registered number: 03011958)

Balance Sheet - continued
28 February 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 November 2023 and were signed on its behalf by:




J D Burgin - Director



R J Burgin - Director


Intake Transport Limited (Registered number: 03011958)

Notes to the Financial Statements
For The Year Ended 28 February 2023

1. STATUTORY INFORMATION

Intake Transport Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

The company meets its day to day working capital requirements through bank borrowings and trade creditors. At the year end the company has net current liabilities, the directors consider that the company can operate within the finance facilities agreed with its bankers and creditors. On that basis the directors consider that it is appropriate to prepare the accounts on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 15% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on cost

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
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.

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.

Intake Transport Limited (Registered number: 03011958)

Notes to the Financial Statements - continued
For The Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2022 - 31 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2022 75,840 54,701 4,871,488 33,942 5,035,971
Additions - - 318,024 - 318,024
Disposals - - (100,635 ) - (100,635 )
At 28 February 2023 75,840 54,701 5,088,877 33,942 5,253,360
DEPRECIATION
At 1 March 2022 56,545 49,987 2,657,630 33,642 2,797,804
Charge for year 5,879 707 479,907 300 486,793
Eliminated on disposal - - (62,107 ) - (62,107 )
At 28 February 2023 62,424 50,694 3,075,430 33,942 3,222,490
NET BOOK VALUE
At 28 February 2023 13,416 4,007 2,013,447 - 2,030,870
At 28 February 2022 19,295 4,714 2,213,858 300 2,238,167

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 March 2022 37,600 3,045,098 3,082,698
Additions - 303,774 303,774
At 28 February 2023 37,600 3,348,872 3,386,472
DEPRECIATION
At 1 March 2022 19,740 1,042,778 1,062,518
Charge for year 5,640 437,125 442,765
At 28 February 2023 25,380 1,479,903 1,505,283
NET BOOK VALUE
At 28 February 2023 12,220 1,868,969 1,881,189
At 28 February 2022 17,860 2,002,320 2,020,180

Intake Transport Limited (Registered number: 03011958)

Notes to the Financial Statements - continued
For The Year Ended 28 February 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,345,006 1,325,406
Other debtors 90,108 76,841
1,435,114 1,402,247

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 950,558 926,896
Hire purchase contracts 524,162 776,412
Trade creditors 444,160 390,277
Social security and other taxes 234,841 139,327
Other creditors 279,559 263,778
Directors' current accounts 8,836 25,834
2,442,116 2,522,524

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years - 19,833
Hire purchase contracts 621,138 761,597
621,138 781,430

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 950,558 946,729
Hire purchase contracts 1,145,300 1,538,009
2,095,858 2,484,738

The bank loans are secured over the company's property, bookdebts and fixed plant and machinery.
Hire purchase contracts are secured on the asset to which they relate.

9. CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
82 Ordinary A £1 82 82
18 Ordinary B £1 18 18
100 100

Intake Transport Limited (Registered number: 03011958)

Notes to the Financial Statements - continued
For The Year Ended 28 February 2023

10. OTHER FINANCIAL COMMITMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
20232022
££
Payable within one year42,51452,110
Payable between one and five years9,59317,130
52,10769,240

11. RELATED PARTY DISCLOSURES

At the year end the directors of the company were owed £8,836 (2022: £25,835). No formal repayment terms are in place and no interest is charged on the loan.