Registered number
10009430
Endeavour Transport Limited
Unaudited Filleted Accounts
28 February 2023
Endeavour Transport Limited
Registered number: 10009430
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 40,246 6,091
Current assets
Debtors 5 526,738 561,077
Cash at bank and in hand 80,912 73,470
607,650 634,547
Creditors: amounts falling due within one year 6 (467,900) (480,937)
Net current assets 139,750 153,610
Total assets less current liabilities 179,996 159,701
Creditors: amounts falling due after more than one year 7 (178,646) (157,500)
Net assets 1,350 2,201
Capital and reserves
Called up share capital 202 202
Profit and loss account 1,148 1,999
Shareholders' funds 1,350 2,201
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 R Sweet
Director
Approved by the board on 9 November 2023
Endeavour Transport Limited
Notes to the Accounts
for the year ended 28 February 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 discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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 and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Exceptional items 2023 2022
£ £
Loss on directors loan account write off 46,812 -
Loss on company loan write off 47,363 -
94,175 -
3 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2022 12,980 - 12,980
Additions 904 35,000 35,904
At 28 February 2023 13,884 35,000 48,884
Depreciation
At 1 March 2022 6,889 - 6,889
Charge for the year 1,749 - 1,749
At 28 February 2023 8,638 - 8,638
Net book value
At 28 February 2023 5,246 35,000 40,246
At 28 February 2022 6,091 - 6,091
5 Debtors 2023 2022
£ £
Trade debtors 412,890 502,716
Other debtors 113,848 58,361
526,738 561,077
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 43,750 54,000
Trade creditors 347,956 340,839
Taxation and social security costs 72,015 81,919
Other creditors 4,179 4,179
467,900 480,937
7 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 178,646 157,500
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Directors
Loans to directors 57,965 181,012 (125,525) 113,452
57,965 181,012 (125,525) 113,452
9 Other information
Endeavour Transport Limited is a private company limited by shares and incorporated in England. Its registered office is:
Swan House, Bosworth Hall
Market Bosworth
Nuneaton
Warwickshire
CV13 0LJ
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