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Registration number: 04423407

K K Haulage Limited

Unaudited Financial Statements

for the Year Ended 28 February 2023

 

K K Haulage Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

K K Haulage Limited

(Registration number: 04423407)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

27,432

23,508

Current assets

 

Debtors

5

102,367

94,088

Cash at bank and in hand

 

137,562

206,545

 

239,929

300,633

Creditors: Amounts falling due within one year

6

(126,658)

(160,639)

Net current assets

 

113,271

139,994

Total assets less current liabilities

 

140,703

163,502

Creditors: Amounts falling due after more than one year

6

(9,834)

(13,992)

Provisions for liabilities

(4,742)

(4,430)

Net assets

 

126,127

145,080

Capital and reserves

 

Called up share capital

2

2

Retained earnings

126,125

145,078

Shareholders' funds

 

126,127

145,080

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 November 2023
 

 

K K Haulage Limited

(Registration number: 04423407)
Balance Sheet as at 28 February 2023

.........................................
Mr Kevin John Kilgallon
Director

 

K K Haulage Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 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:
12 York Road
Weston Coyney
Stoke On Trent
ST3 6NW

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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

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.

 

K K Haulage Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

The current 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.

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

Motor Vehicles

reducing balance 25%

Office equipment

reducing balance 10%

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2022 - 5).

 

K K Haulage Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2022

662

120,882

121,544

Additions

-

9,950

9,950

Disposals

-

(31,000)

(31,000)

At 28 February 2023

662

99,832

100,494

Depreciation

At 1 March 2022

521

97,515

98,036

Charge for the year

14

6,012

6,026

Eliminated on disposal

-

(31,000)

(31,000)

At 28 February 2023

535

72,527

73,062

Carrying amount

At 28 February 2023

127

27,305

27,432

At 28 February 2022

141

23,367

23,508

5

Debtors

Current

2023
£

2022
£

Trade debtors

101,830

93,269

Other debtors

537

819

 

102,367

94,088

 

K K Haulage Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

4,246

4,246

Trade creditors

 

30,733

28,213

Taxation and social security

 

71,687

93,678

Accruals and deferred income

 

1,975

1,855

Other creditors

 

18,017

32,647

 

126,658

160,639

2023
£

2022
£

Current loans and borrowings

Bank borrowings

4,246

4,246

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9,834

13,992