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REGISTERED NUMBER: 08738895 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 October 2023

for

North East Truck & Trailer Limited

North East Truck & Trailer Limited (Registered number: 08738895)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


North East Truck & Trailer Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: D Graham





REGISTERED OFFICE: 37-38 Market Street
Ferryhill
Co. Durham
DL17 8JH





REGISTERED NUMBER: 08738895 (England and Wales)





ACCOUNTANTS: Little & Neal
37-38 Market Street
Ferryhill
Co. Durham
DL17 8JH

North East Truck & Trailer Limited (Registered number: 08738895)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 49,583 58,583
Tangible assets 5 346,180 236,768
395,763 295,351

CURRENT ASSETS
Stocks 18,675 42,492
Debtors 6 309,208 222,353
Cash at bank and in hand 80,028 59,596
407,911 324,441
CREDITORS
Amounts falling due within one year 7 188,463 149,369
NET CURRENT ASSETS 219,448 175,072
TOTAL ASSETS LESS CURRENT
LIABILITIES

615,211

470,423

CREDITORS
Amounts falling due after more than one
year

8

125,410

106,223
NET ASSETS 489,801 364,200

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 489,701 364,100
SHAREHOLDERS' FUNDS 489,801 364,200

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

North East Truck & Trailer Limited (Registered number: 08738895)

Balance Sheet - continued
31 October 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 director and authorised for issue on 17 November 2023 and were signed by:





D Graham - Director


North East Truck & Trailer Limited (Registered number: 08738895)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

North East Truck & Trailer 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on cost and 15% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

North East Truck & Trailer Limited (Registered number: 08738895)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 90,000
AMORTISATION
At 1 November 2022 31,417
Charge for year 9,000
At 31 October 2023 40,417
NET BOOK VALUE
At 31 October 2023 49,583
At 31 October 2022 58,583

North East Truck & Trailer Limited (Registered number: 08738895)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 369,519
Additions 266,943
Disposals (98,550 )
At 31 October 2023 537,912
DEPRECIATION
At 1 November 2022 132,751
Charge for year 91,849
Eliminated on disposal (37,161 )
Transfer to ownership 4,293
At 31 October 2023 191,732
NET BOOK VALUE
At 31 October 2023 346,180
At 31 October 2022 236,768

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 November 2022 66,718
Additions 156,750
Disposals (17,000 )
Transfer to ownership (49,718 )
At 31 October 2023 156,750
DEPRECIATION
At 1 November 2022 20,255
Charge for year 30,322
Eliminated on disposal (9,208 )
Transfer to ownership (13,463 )
At 31 October 2023 27,906
NET BOOK VALUE
At 31 October 2023 128,844
At 31 October 2022 46,463

North East Truck & Trailer Limited (Registered number: 08738895)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 260,950 194,698
Other debtors 48,258 27,655
309,208 222,353

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 29,000 29,000
Hire purchase contracts 41,875 19,316
Trade creditors 36,393 24,568
Taxation and social security 75,938 37,478
Other creditors 5,257 39,007
188,463 149,369

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 69,000 99,083
Hire purchase contracts 56,410 7,140
125,410 106,223