Company Registration No. 165110 (England and Wales)
ECLIPSE MOTOR TRANSPORT COMPANY,LIMITED(THE)
Unaudited accounts
for the year ended 31 March 2023
ECLIPSE MOTOR TRANSPORT COMPANY,LIMITED(THE)
Unaudited accounts
Contents
ECLIPSE MOTOR TRANSPORT COMPANY,LIMITED(THE)
Company Information
for the year ended 31 March 2023
Company Number
165110 (England and Wales)
Registered Office
Eclipse House
Clay Street
Chamberlain Road
Hull
HU8 8HA
United Kingdom
Accountants
Kendall Accountancy Services Limited
2 Exeter Street
New Village Road
Cottingham
East Yorkshire
HU16 4LU
ECLIPSE MOTOR TRANSPORT COMPANY,LIMITED(THE)
Statement of financial position
as at 31 March 2023
Tangible assets
539,172
712,199
Cash at bank and in hand
8,405
976
Creditors: amounts falling due within one year
(355,855)
(513,180)
Net current assets/(liabilities)
117,271
(139,470)
Total assets less current liabilities
656,443
572,729
Creditors: amounts falling due after more than one year
(95,889)
(76,786)
Provisions for liabilities
Deferred tax
(76,007)
(60,342)
Net assets
484,547
435,601
Called up share capital
1,740
1,740
Profit and loss account
482,807
433,861
Shareholders' funds
484,547
435,601
For the year ending 31 March 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 29 June 2023 and were signed on its behalf by
Mr S E Youngman
Director
Company Registration No. 165110
ECLIPSE MOTOR TRANSPORT COMPANY,LIMITED(THE)
Notes to the Accounts
for the year ended 31 March 2023
ECLIPSE MOTOR TRANSPORT COMPANY,LIMITED(THE) is a private company, limited by shares, registered in England and Wales, registration number 165110. The registered office is Eclipse House, Clay Street, Chamberlain Road, Hull, HU8 8HA, United Kingdom.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
Plant & machinery
20% cost
Fixtures & fittings
10% cost
Computer equipment
33% cost
Depreciation Charge in year
During the year due to strong demand for second hand vehicles, the depreciation charge for this year has been reviewed and adjusted to reflect that most trucks owned have not fallen in value like they would in a normal year. It is expected that next year the values will return to normal.
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.
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.
ECLIPSE MOTOR TRANSPORT COMPANY,LIMITED(THE)
Notes to the Accounts
for the year ended 31 March 2023
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2022
37,444
849,043
13,298
14,251
914,036
Additions
-
111,548
-
265
111,813
Disposals
-
(389,983)
-
-
(389,983)
At 31 March 2023
37,444
570,608
13,298
14,516
635,866
At 1 April 2022
18,234
165,118
4,870
13,615
201,837
Charge for the year
5,330
34,601
1,330
353
41,614
On disposals
-
(146,757)
-
-
(146,757)
At 31 March 2023
23,564
52,962
6,200
13,968
96,694
At 31 March 2023
13,880
517,646
7,098
548
539,172
At 31 March 2022
19,210
683,925
8,428
636
712,199
Amounts falling due within one year
Trade debtors
69,061
354,154
Amounts due from group undertakings etc.
281,176
-
Accrued income and prepayments
66,096
18,580
ECLIPSE MOTOR TRANSPORT COMPANY,LIMITED(THE)
Notes to the Accounts
for the year ended 31 March 2023
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,000
39,774
Obligations under finance leases and hire purchase contracts
62,540
30,399
Trade creditors
51,126
390,218
Taxes and social security
85,789
41,949
Loans from directors
-
3,840
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Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
74,333
45,119
Allotted, called up and fully paid:
15,400 Deferred Ordinary of £0.05 each
770
770
770 Preferred Ordinary of £1 each
770
770
200 Preference of £1 each
200
200
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Transactions with related parties
As at 31st March 2023, the company was due the following amounts from Group companies:
£129,547 from S&B Transport Limited.
£100,000 from SEY Group Limited.
£51,629 from SEY Distribution Limited.
As at 31st March 2023 the company was due £48,388 from Drypool Freight Services Limited, a company owned by SEY Transport Limited.
As at 31st March 2023 the company owed SEY Transport Limited £146,162, a company owed by Mr S Youngman.
Eclipse Motor Transport Co Ltd is a 100% subsidiary of SEY Distribution Limited.
Eclipse House, Clay Street, Hull, North Humberside, HU8 8HA
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Average number of employees
During the year the average number of employees was 14 (2022: 14).