1 June 2022 false No description of principal activity Taxfiler 2023.10 05130174business:PrivateLimitedCompanyLtd2022-06-012023-05-31 051301742022-05-31 051301742022-06-012023-05-31 05130174business:AuditExemptWithAccountantsReport2022-06-012023-05-31 05130174business:FilletedAccounts2022-06-012023-05-31 051301742023-05-31 05130174business:Director12022-06-012023-05-31 05130174business:CompanySecretary12022-06-012023-05-31 05130174business:RegisteredOffice2022-06-012023-05-31 051301742022-05-31 05130174core:WithinOneYear2023-05-31 05130174core:WithinOneYear2022-05-31 05130174core:AfterOneYear2023-05-31 05130174core:AfterOneYear2022-05-31 05130174core:ShareCapitalcore:PreviouslyStatedAmount2023-05-31 05130174core:ShareCapitalcore:PreviouslyStatedAmount2022-05-31 05130174core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-05-31 05130174core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-05-31 05130174core:PreviouslyStatedAmount2023-05-31 05130174core:PreviouslyStatedAmount2022-05-31 05130174business:SmallEntities2022-06-012023-05-31 05130174countries:EnglandWales2022-06-012023-05-31 05130174core:LandBuildings2022-06-012023-05-31 05130174core:PlantMachinery2022-06-012023-05-31 05130174core:MotorVehicles2022-06-012023-05-31 05130174core:ComputerEquipment2022-06-012023-05-31 05130174core:LandBuildings2022-05-31 05130174core:PlantMachinery2022-05-31 05130174core:MotorVehicles2022-05-31 05130174core:ComputerEquipment2022-05-31 05130174core:LandBuildings2023-05-31 05130174core:PlantMachinery2023-05-31 05130174core:MotorVehicles2023-05-31 05130174core:ComputerEquipment2023-05-31 051301742021-06-012022-05-31 iso4217:GBP xbrli:pure
Company Registration No. 05130174 (England and Wales)
Grey's Haulage Ltd. Unaudited accounts for the year ended 31 May 2023
Grey's Haulage Ltd. Unaudited accounts Contents
Page
- 2 -
Grey's Haulage Ltd. Company Information for the year ended 31 May 2023
Director
Michael Grey
Secretary
Emma Grey
Company Number
05130174 (England and Wales)
Registered Office
QUEEN ADELAIDE FARM 54 ELY ROAD QUEEN ADELAIDE ELY CAMBRIDGESHIRE CB7 4TZ ENGLAND
Accountants
Coles Accounting (Cambridge) Limited Newton Hall Town Street, Newton Cambridge Cambridgeshire CB22 7ZE
- 3 -
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Grey's Haulage Ltd. for the year ended 31 May 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Grey's Haulage Ltd. for the year ended 31 May 2023 as set out on pages 5 - 8 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of Grey's Haulage Ltd., as a body, in accordance with the terms of our engagement letter dated 18 July 2020. Our work has been undertaken solely to prepare for your approval the accounts of Grey's Haulage Ltd. and state those matters that we have agreed to state to the Board of Directors of Grey's Haulage Ltd., as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Grey's Haulage Ltd. and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Grey's Haulage Ltd. has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Grey's Haulage Ltd.. You consider that Grey's Haulage Ltd. is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Grey's Haulage Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Coles Accounting (Cambridge) Limited Chartered Certified Accountants Newton Hall Town Street, Newton Cambridge Cambridgeshire CB22 7ZE 15 November 2023
- 4 -
Grey's Haulage Ltd. Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
50,817 
30,310 
Current assets
Debtors
8,274 
27,651 
Cash at bank and in hand
1,588 
(4,668)
9,862 
22,983 
Creditors: amounts falling due within one year
(22,123)
(34,528)
Net current liabilities
(12,261)
(11,545)
Total assets less current liabilities
38,556 
18,765 
Creditors: amounts falling due after more than one year
(30,661)
(13,301)
Provisions for liabilities
Deferred tax
(9,431)
(5,503)
Net liabilities
(1,536)
(39)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(1,538)
(41)
Shareholders' funds
(1,536)
(39)
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 November 2023 and were signed on its behalf by
Michael Grey Director Company Registration No. 05130174
- 5 -
Grey's Haulage Ltd. Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
Grey's Haulage Ltd. is a private company, limited by shares, registered in England and Wales, registration number 05130174. The registered office is QUEEN ADELAIDE FARM 54 ELY ROAD, QUEEN ADELAIDE, ELY, CAMBRIDGESHIRE, CB7 4TZ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: - the amount of revenue can be measured reliably; - it is probable that the Company will receive the consideration due under the contract; - the stage of completion of the contract at the end of the reporting period can be measured reliably; and - the costs incurred and the costs to complete the contract can be measured reliably.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% straight line
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Computer equipment
25% reducing balance
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
- 6 -
Grey's Haulage Ltd. Notes to the Accounts for the year ended 31 May 2023
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 June 2022
1,682 
11,796 
143,756 
3,779 
161,013 
Additions
- 
- 
44,995 
833 
45,828 
Disposals
- 
- 
(27,990)
- 
(27,990)
At 31 May 2023
1,682 
11,796 
160,761 
4,612 
178,851 
Depreciation
At 1 June 2022
336 
11,117 
115,603 
3,647 
130,703 
Charge for the year
168 
193 
12,910 
241 
13,512 
On disposals
- 
- 
(16,181)
- 
(16,181)
At 31 May 2023
504 
11,310 
112,332 
3,888 
128,034 
Net book value
At 31 May 2023
1,178 
486 
48,429 
724 
50,817 
At 31 May 2022
1,346 
679 
28,153 
132 
30,310 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
8,274 
21,866 
Other debtors
- 
5,785 
8,274 
27,651 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
4,000 
4,000 
VAT
2,674 
3,507 
Obligations under finance leases and hire purchase contracts
12,491 
3,840 
Trade creditors
1,947 
7,139 
Taxes and social security
(155)
15,082 
Loans from directors
206 
- 
Accruals
960 
960 
22,123 
34,528 
- 7 -
Grey's Haulage Ltd. Notes to the Accounts for the year ended 31 May 2023
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
8,333 
12,333 
Obligations under finance leases and hire purchase contracts
22,328 
968 
30,661 
13,301 
8
Average number of employees
During the year the average number of employees was 2 (2022: 3).
- 8 -