Robbie Pryce Haulage Limited 04539108 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of hauliers Digita Accounts Production Advanced 6.30.9574.0 true true 04539108 2022-04-01 2023-03-31 04539108 2023-03-31 04539108 bus:OrdinaryShareClass1 2023-03-31 04539108 core:RetainedEarningsAccumulatedLosses 2023-03-31 04539108 core:ShareCapital 2023-03-31 04539108 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-03-31 04539108 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-03-31 04539108 core:CurrentFinancialInstruments 2023-03-31 04539108 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 04539108 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 04539108 core:Goodwill 2023-03-31 04539108 core:FurnitureFittingsToolsEquipment 2023-03-31 04539108 core:MotorVehicles 2023-03-31 04539108 bus:SmallEntities 2022-04-01 2023-03-31 04539108 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 04539108 bus:FullAccounts 2022-04-01 2023-03-31 04539108 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 04539108 bus:RegisteredOffice 2022-04-01 2023-03-31 04539108 bus:Director1 2022-04-01 2023-03-31 04539108 bus:Director2 2022-04-01 2023-03-31 04539108 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 04539108 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04539108 core:Goodwill 2022-04-01 2023-03-31 04539108 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 04539108 core:MotorVehicles 2022-04-01 2023-03-31 04539108 core:OfficeEquipment 2022-04-01 2023-03-31 04539108 core:UKTax 2022-04-01 2023-03-31 04539108 countries:AllCountries 2022-04-01 2023-03-31 04539108 2022-03-31 04539108 core:Goodwill 2022-03-31 04539108 core:FurnitureFittingsToolsEquipment 2022-03-31 04539108 core:MotorVehicles 2022-03-31 04539108 2021-04-01 2022-03-31 04539108 2022-03-31 04539108 bus:OrdinaryShareClass1 2022-03-31 04539108 core:RetainedEarningsAccumulatedLosses 2022-03-31 04539108 core:ShareCapital 2022-03-31 04539108 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-03-31 04539108 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-03-31 04539108 core:CurrentFinancialInstruments 2022-03-31 04539108 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 04539108 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 04539108 core:FurnitureFittingsToolsEquipment 2022-03-31 04539108 core:MotorVehicles 2022-03-31 04539108 core:UKTax 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Robbie Pryce Haulage Limited

Registration number : 04539108



















Annual Report and Unaudited Financial Statements

for the year ended 31 March 2023

 

Robbie Pryce Haulage Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Robbie Pryce Haulage Limited

Company Information

Directors

Mr Robert Pryce

Mrs Philippa Estelle Pryce

Registered office

Maghull Business Centre
1 Liverpool Road North
Maghull
Merseyside
L31 2HB

Accountants

McParland Williams Limited
Accountants and Tax Practitioners
13 Liverpool Road North
Maghull
Merseyside
L31 2HB

 

Robbie Pryce Haulage Limited

(Registration number: 04539108)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

6

8,958

11,938

Current assets

 

Debtors

7

129,195

68,340

Cash at bank and in hand

 

32

45,152

 

129,227

113,492

Creditors: Amounts falling due within one year

8

(90,783)

(76,188)

Net current assets

 

38,444

37,304

Total assets less current liabilities

 

47,402

49,242

Creditors: Amounts falling due after more than one year

8

(2,697)

(3,831)

Provisions for liabilities

(1,698)

(2,264)

Net assets

 

43,007

43,147

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

43,005

43,145

Total equity

 

43,007

43,147

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 November 2023 and signed on its behalf by:
 

 

Robbie Pryce Haulage Limited

(Registration number: 04539108)
Balance Sheet as at 31 March 2023

.........................................
Mrs Philippa Estelle Pryce
Director

   
     
 

Robbie Pryce Haulage Limited

Notes to the Unaudited Financial Statements for the year ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales .

The address of its registered office is:
Maghull Business Centre
1 Liverpool Road North
Maghull
Merseyside
L31 2HB

These financial statements were authorised for issue by the Board on 1 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Robbie Pryce Haulage Limited

Notes to the Unaudited Financial Statements for the year ended 31 March 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment / furniture

33% straight line

Motor vehicles

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Robbie Pryce Haulage Limited

Notes to the Unaudited Financial Statements for the year ended 31 March 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Robbie Pryce Haulage Limited

Notes to the Unaudited Financial Statements for the year ended 31 March 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2022 - 6).

4

Taxation

Tax charged/(credited) in the income statement

2023
 £

2022
 £

Current taxation

UK corporation tax

9,836

19,835

Deferred taxation

Arising from origination and reversal of timing differences

(565)

385

Tax expense in the income statement

9,271

20,220

 

Robbie Pryce Haulage Limited

Notes to the Unaudited Financial Statements for the year ended 31 March 2023

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2022

7,500

7,500

At 31 March 2023

7,500

7,500

Amortisation

At 1 April 2022

7,500

7,500

At 31 March 2023

7,500

7,500

Carrying amount

At 31 March 2023

-

-

 

Robbie Pryce Haulage Limited

Notes to the Unaudited Financial Statements for the year ended 31 March 2023

6

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

1,686

53,735

55,421

At 31 March 2023

1,686

53,735

55,421

Depreciation

At 1 April 2022

1,686

41,797

43,483

Charge for the year

-

2,980

2,980

At 31 March 2023

1,686

44,777

46,463

Carrying amount

At 31 March 2023

-

8,958

8,958

At 31 March 2022

-

11,938

11,938

7

Debtors

2023
£

2022
£

Trade debtors

129,195

68,080

Other debtors

-

260

129,195

68,340

 

Robbie Pryce Haulage Limited

Notes to the Unaudited Financial Statements for the year ended 31 March 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

12

14,406

5,303

Trade creditors

 

25,313

26,032

Directors' loan accounts

11

14,094

653

Taxation and social security

 

35,173

42,439

Other creditors

 

1,797

1,761

 

90,783

76,188

Due after one year

 

Loans and borrowings

12

2,697

3,831

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

12

2,697

3,831

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £59,168 (2022 - £72,036).

 

Robbie Pryce Haulage Limited

Notes to the Unaudited Financial Statements for the year ended 31 March 2023

11

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

18,700

18,482

Contributions paid to money purchase schemes

13,200

11,700

31,900

30,182

12

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Hire purchase contracts

2,697

3,831

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

12,951

-

Hire purchase contracts

1,455

5,303

14,406

5,303