Registered number
04161464
Ratcliffe Haulage & Storage Limited
Filleted Accounts
31 March 2023
Ratcliffe Haulage & Storage Limited
Registered number: 04161464
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 57,562 69,580
Current assets
Debtors 4 145,412 86,810
Cash at bank and in hand 867 8,423
146,279 95,233
Creditors: amounts falling due within one year 5 (244,531) (244,826)
Net current liabilities (98,252) (149,593)
Total assets less current liabilities (40,690) (80,013)
Creditors: amounts falling due after more than one year 6 (6,616) (16,472)
Net liabilities (47,306) (96,485)
Capital and reserves
Called up share capital 100 100
Profit and loss account (47,406) (96,585)
Shareholders' funds (47,306) (96,485)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Ratcliffe
Director
Approved by the board on 20 November 2023
Ratcliffe Haulage & Storage Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets as follows:
Plant and machinery 15% reducing balance
Motor vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price).
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs.
Taxation
A current tax assest is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current and deferred tax assests and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 91,553 50,257 141,810
Additions 949 - 949
Disposals (879) - (879)
At 31 March 2023 91,623 50,257 141,880
Depreciation
At 1 April 2022 52,079 20,151 72,230
Charge for the year 5,977 6,549 12,526
On disposals (438) - (438)
At 31 March 2023 57,618 26,700 84,318
Net book value
At 31 March 2023 34,005 23,557 57,562
At 31 March 2022 39,474 30,106 69,580
4 Debtors 2023 2022
£ £
Trade debtors 142,153 83,133
Other debtors 3,259 3,677
145,412 86,810
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 10,678 10,143
Trade creditors 1,691 939
Other creditors 232,162 233,744
244,531 244,826
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 6,616 9,841
Obligations under finance lease and hire purchase contracts - 6,631
6,616 16,472
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
M Ratcliffe
Directors loan account 233,744 (16,659) 15,077 232,162
233,744 (16,659) 15,077 232,162
8 Controlling party
The company is controlled by the Director.
9 Other information
Ratcliffe Haulage & Storage Limited is a private company limited by shares and incorporated in England. Its registered office is:
4 High Street
Stanley
Co Durham
DH9 0DQ
Ratcliffe Haulage & Storage Limited 04161464 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts October 2023 release 2 M Ratcliffe No description of principal activity 04161464 2021-04-01 2022-03-31 04161464 core:WithinOneYear 2022-03-31 04161464 core:AfterOneYear 2022-03-31 04161464 core:ShareCapital 2022-03-31 04161464 core:RetainedEarningsAccumulatedLosses 2022-03-31 04161464 2022-04-01 2023-03-31 04161464 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04161464 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 04161464 bus:Director40 2022-04-01 2023-03-31 04161464 1 2022-04-01 2023-03-31 04161464 2 2022-04-01 2023-03-31 04161464 core:PlantMachinery 2022-04-01 2023-03-31 04161464 core:Vehicles 2022-04-01 2023-03-31 04161464 bus:Director1 2022-04-01 2023-03-31 04161464 bus:Director1 1 2022-04-01 2023-03-31 04161464 countries:England 2022-04-01 2023-03-31 04161464 bus:FRS102 2022-04-01 2023-03-31 04161464 bus:FullAccounts 2022-04-01 2023-03-31 04161464 2023-03-31 04161464 core:WithinOneYear 2023-03-31 04161464 core:AfterOneYear 2023-03-31 04161464 core:ShareCapital 2023-03-31 04161464 core:RetainedEarningsAccumulatedLosses 2023-03-31 04161464 core:PlantMachinery 2023-03-31 04161464 core:Vehicles 2023-03-31 04161464 bus:Director1 1 2023-03-31 04161464 2022-03-31 04161464 core:PlantMachinery 2022-03-31 04161464 core:Vehicles 2022-03-31 04161464 bus:Director1 1 2022-03-31 iso4217:GBP xbrli:pure