Company Registration No. 3773639 (England and Wales)
S&B TRANSPORT LIMITED
Unaudited accounts
for the year ended 31 March 2023
S&B TRANSPORT LIMITED
Unaudited accounts
Contents
S&B TRANSPORT LIMITED
Company Information
for the year ended 31 March 2023
Company Number
3773639 (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
S&B TRANSPORT LIMITED
Statement of financial position
as at 31 March 2023
Tangible assets
1,148,704
1,052,293
Cash at bank and in hand
-
3,983
Creditors: amounts falling due within one year
(624,049)
(582,210)
Net current liabilities
(191,007)
(266,214)
Total assets less current liabilities
957,697
806,079
Creditors: amounts falling due after more than one year
(356,954)
(392,632)
Provisions for liabilities
Deferred tax
(126,184)
(110,488)
Net assets
474,559
302,959
Called up share capital
4,819
4,819
Revaluation reserve
123,528
-
Profit and loss account
346,212
298,140
Shareholders' funds
474,559
302,959
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. 3773639
S&B TRANSPORT LIMITED
Notes to the Accounts
for the year ended 31 March 2023
S&B TRANSPORT LIMITED is a private company, limited by shares, registered in England and Wales, registration number 3773639. 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:
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.
S&B TRANSPORT LIMITED
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.
Investments in shares are included at fair value.
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.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At valuation
At cost
At cost
At cost
At cost
At 1 April 2022
311,472
39,465
884,406
78,685
6,996
1,321,024
Additions
-
-
101,375
22,273
501
124,149
Revaluations
123,528
-
-
-
-
123,528
Disposals
-
(4,241)
(222,804)
-
-
(227,045)
At 31 March 2023
435,000
35,224
762,977
100,958
7,497
1,341,656
At 1 April 2022
-
8,085
240,442
13,226
6,978
268,731
Charge for the year
-
659
64,192
13,436
183
78,470
On disposals
-
(4,241)
(150,008)
-
-
(154,249)
At 31 March 2023
-
4,503
154,626
26,662
7,161
192,952
At 31 March 2023
435,000
30,721
608,351
74,296
336
1,148,704
At 31 March 2022
311,472
31,380
643,964
65,459
18
1,052,293
Following a commercial valuation, the property was revalued in the year end 31st March 2023 to £435,000, the original cost was £311,472.
5
Investments
Subsidiary undertakings
Valuation at 1 April 2022
20,000
Valuation at 31 March 2023
-
S&B TRANSPORT LIMITED
Notes to the Accounts
for the year ended 31 March 2023
Amounts falling due within one year
Trade debtors
164,818
238,059
Amounts due from group undertakings etc.
117,483
-
Accrued income and prepayments
84,554
73,954
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
73,412
47,226
Obligations under finance leases and hire purchase contracts
99,292
66,337
Trade creditors
95,880
414,275
Amounts owed to group undertakings and other participating interests
129,547
-
Taxes and social security
66,084
53,706
Other creditors
159,834
63
Loans from directors
-
307
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
158,058
197,649
Obligations under finance leases and hire purchase contracts
198,896
194,983
Allotted, called up and fully paid:
4,720 Ordinary shares of £1 each
4,720
4,720
99 B Shares of £1 each
99
99
10
Transactions with related parties
As at 31st March 2023 the company was due the following amounts from Group companies:
SEY Distribution Limited £17,483
SEY Group £100,000
As at 31st March 2023 the company owed £129,547 to The Eclipse Motor Transport Company Limited, a company within the group.
As at 31st March 2023 the company was due £66,187 from Drypool Freight Services Limited, a company owned by SEY Transport Limited.
As at 31st March 2023 the company owed £159,394 to SEY Transport Limited, a company owned by Mr S Youngman.
S&B TRANSPORT LIMITED
Notes to the Accounts
for the year ended 31 March 2023
SEY Distribution Limited
Eclipse House Clay Street, Chamberlain Road, Hull, East Yorkshire, HU8 8HD
12
Average number of employees
During the year the average number of employees was 12 (2022: 12).