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REGISTERED NUMBER: 04729315 (England and Wales)






JOHN RUSSELL & SONS (HAULAGE) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






JOHN RUSSELL & SONS (HAULAGE) LIMITED (REGISTERED NUMBER: 04729315)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JOHN RUSSELL & SONS (HAULAGE) LIMITED

COMPANY INFORMATION
for the year ended 30 June 2023







DIRECTORS: M J Russell
Mrs C A Russell





SECRETARY: Mrs C A Russell





REGISTERED OFFICE: Yew Tree Cottage
Bodymoor Heath
Sutton Coldfield
West Midlands
B76 9JF





REGISTERED NUMBER: 04729315 (England and Wales)





ACCOUNTANTS: Weatherer Bailey Bragg
Chartered Accountants
100 Boldmere Road
Sutton Coldfield
West Midlands
B73 5UB

JOHN RUSSELL & SONS (HAULAGE) LIMITED (REGISTERED NUMBER: 04729315)

BALANCE SHEET
30 June 2023

30/6/23 30/6/22
Notes £    £   
FIXED ASSETS
Tangible assets 4 879,779 751,231

CURRENT ASSETS
Debtors 5 204,763 177,364
Cash at bank 33,956 80,441
238,719 257,805
CREDITORS
Amounts falling due within one year 6 (244,840 ) (263,125 )
NET CURRENT LIABILITIES (6,121 ) (5,320 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

873,658

745,911

CREDITORS
Amounts falling due after more than one
year

7

(299,189

)

(166,667

)

PROVISIONS FOR LIABILITIES (87,724 ) (49,222 )
NET ASSETS 486,745 530,022

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 486,743 530,020
SHAREHOLDERS' FUNDS 486,745 530,022

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

JOHN RUSSELL & SONS (HAULAGE) LIMITED (REGISTERED NUMBER: 04729315)

BALANCE SHEET - continued
30 June 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 15 November 2023 and were signed on its behalf by:





M J Russell - Director


JOHN RUSSELL & SONS (HAULAGE) LIMITED (REGISTERED NUMBER: 04729315)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2023

1. STATUTORY INFORMATION

John Russell & Sons (Haulage) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

As at the 30 June 2023, the balance sheet reflects net current liabilities amounting to £6,121. Included within creditors due within one year is amounts due to the directors of £90,665. The directors have given their assurances that they will not request repayment of these amounts until other creditors have been settled. The directors are of the opinion that the company will have sufficient future trade to be enable it to continue to operate for the foreseeable future, and are optimistic that they will be able to meet creditors as they fall due. As such the directors consider the going concern basis of preparation appropriate.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods
Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services
Turnover from haulage services is recognised in the income statement in the period to which it relates.

Rents receivable
Rental income is recognised in the income statement for the period in which it relates.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and equipment- 15% reducing balance
Motor vehicles- 25% reducing balance
Computer equipment- 33% on cost
Fixtures and fittings- 15% reducing balance

Freehold land and buildings are reflected at fair value and are valued on an annual basis by the directors.


JOHN RUSSELL & SONS (HAULAGE) LIMITED (REGISTERED NUMBER: 04729315)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023

2. ACCOUNTING POLICIES - continued
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 and are depreciated over their estimated useful lives.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 8 ) .

JOHN RUSSELL & SONS (HAULAGE) LIMITED (REGISTERED NUMBER: 04729315)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2022 507,839 26,198 6,154
Additions - - -
Disposals - - -
At 30 June 2023 507,839 26,198 6,154
DEPRECIATION
At 1 July 2022 - 16,738 4,943
Charge for year - 1,419 181
Eliminated on disposal - - -
At 30 June 2023 - 18,157 5,124
NET BOOK VALUE
At 30 June 2023 507,839 8,041 1,030
At 30 June 2022 507,839 9,460 1,211

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2022 903,524 4,231 1,447,946
Additions 282,700 - 282,700
Disposals (295,390 ) - (295,390 )
At 30 June 2023 890,834 4,231 1,435,256
DEPRECIATION
At 1 July 2022 671,424 3,610 696,715
Charge for year 120,896 441 122,937
Eliminated on disposal (264,175 ) - (264,175 )
At 30 June 2023 528,145 4,051 555,477
NET BOOK VALUE
At 30 June 2023 362,689 180 879,779
At 30 June 2022 232,100 621 751,231

Freehold property is stated at fair value as valued by the directors.

JOHN RUSSELL & SONS (HAULAGE) LIMITED (REGISTERED NUMBER: 04729315)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2022 363,490
Additions 282,700
Transfer to ownership (117,300 )
At 30 June 2023 528,890
DEPRECIATION
At 1 July 2022 222,514
Charge for year 96,641
Transfer to ownership (80,186 )
At 30 June 2023 238,969
NET BOOK VALUE
At 30 June 2023 289,921
At 30 June 2022 140,976

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Trade debtors 164,242 171,644
Corporation tax recoverable 34,648 -
Sundry debtors and prepayments 5,873 5,720
204,763 177,364

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Bank loans and overdrafts 14,490 17,814
Hire purchase contracts 74,164 63,636
Trade creditors 24,003 34,191
Corporation tax payable - 34,626
Social security & other taxes 1,511 520
VAT 19,723 27,552
Other creditors 2,377 3,246
Directors' loan accounts 90,665 63,374
Sundry creditors and accrued expenses 17,907 18,166
244,840 263,125

JOHN RUSSELL & SONS (HAULAGE) LIMITED (REGISTERED NUMBER: 04729315)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/6/23 30/6/22
£    £   
Bank loans - 1-2 years 13,714 18,014
Bank loans - 2-5 years 42,343 55,243
Bank loans more 5 yr by instal 77,760 71,428
Hire purchase contracts 165,372 21,982
299,189 166,667

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 77,760 71,428

8. SECURED DEBTS

The following secured debts are included within creditors:

30/6/23 30/6/22
£    £   
Bank loans 148,307 162,499
Hire purchase contracts 239,536 85,618
387,843 248,117

Bank loans are secured by way of a legal charge over the freehold land and buildings.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/6/23 30/6/22
value: £    £   
2 Ordinary £1 2 2

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2023 and 30 June 2022:

30/6/23 30/6/22
£    £   
M J Russell
Balance outstanding at start of year (5,984 ) (10,688 )
Amounts advanced 48,035 40,024
Amounts repaid (48,320 ) (35,320 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (6,269 ) (5,984 )

JOHN RUSSELL & SONS (HAULAGE) LIMITED (REGISTERED NUMBER: 04729315)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mrs C A Russell
Balance outstanding at start of year (57,390 ) (57,420 )
Amounts advanced 17,200 9,100
Amounts repaid (44,206 ) (9,070 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (84,396 ) (57,390 )

No interest is charged on loans from directors. Amounts are repayable on demand.