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REGISTERED NUMBER: 04473051 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Barnett Transport Limited

Barnett Transport Limited (Registered number: 04473051)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Barnett Transport Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: T L Barnett
Mrs K Barnett
I B Barnett





SECRETARY: Mrs K Barnett





REGISTERED OFFICE: 8 Winmarleigh Street
Warrington
Cheshire
WA1 1JW





REGISTERED NUMBER: 04473051 (England and Wales)





ACCOUNTANTS: Voisey & Co LLP
Chartered Accountants
8 Winmarleigh Street
Warrington
Cheshire
WA1 1JW

Barnett Transport Limited (Registered number: 04473051)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,754,423 1,716,715
2,754,423 1,716,715

CURRENT ASSETS
Debtors 6 775,329 459,460
Cash at bank 87,462 384,816
862,791 844,276
CREDITORS
Amounts falling due within one year 7 (1,432,300 ) (1,651,528 )
NET CURRENT LIABILITIES (569,509 ) (807,252 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,184,914

909,463

CREDITORS
Amounts falling due after more than one
year

8

(960,500

)

(328,571

)

PROVISIONS FOR LIABILITIES (576,153 ) (259,778 )
NET ASSETS 648,261 321,114

CAPITAL AND RESERVES
Called up share capital 10 4,000 4,000
Retained earnings 11 644,261 317,114
SHAREHOLDERS' FUNDS 648,261 321,114

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

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

The directors acknowledge their 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.

Barnett Transport Limited (Registered number: 04473051)

Balance Sheet - continued
31 July 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 Board of Directors and authorised for issue on 13 February 2024 and were signed on its behalf by:





T L Barnett - Director


Barnett Transport Limited (Registered number: 04473051)

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

1. STATUTORY INFORMATION

Barnett Transport 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 0, is being amortised evenly over its estimated useful life of nil 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.
Freehold property - 2% on cost
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 10% on reducing balance
Computer equipment - 10% on reducing balance

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.

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

Barnett Transport Limited (Registered number: 04473051)

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

2. ACCOUNTING POLICIES - continued

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 63 (2022 - 60 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 120,000
AMORTISATION
At 1 August 2022
and 31 July 2023 120,000
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 August 2022 376,091 3,290,560 14,794
Additions 113,541 1,104,413 -
At 31 July 2023 489,632 4,394,973 14,794
DEPRECIATION
At 1 August 2022 73,362 1,879,094 13,875
Charge for year 7,665 175,377 92
At 31 July 2023 81,027 2,054,471 13,967
NET BOOK VALUE
At 31 July 2023 408,605 2,340,502 827
At 31 July 2022 302,729 1,411,466 919

Barnett Transport Limited (Registered number: 04473051)

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

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 August 2022 5,250 7,793 3,694,488
Additions 3,074 - 1,221,028
At 31 July 2023 8,324 7,793 4,915,516
DEPRECIATION
At 1 August 2022 4,677 6,765 1,977,773
Charge for year 83 103 183,320
At 31 July 2023 4,760 6,868 2,161,093
NET BOOK VALUE
At 31 July 2023 3,564 925 2,754,423
At 31 July 2022 573 1,028 1,716,715

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 775,329 459,460

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 9,328 18,970
Other loans 187,378 237,577
Hire purchase contracts 153,673 148,140
Trade creditors 98,605 98,368
Tax 122,032 132,159
Social security and other taxes 81,194 96,243
Pensions creditor 2,858 2,497
VAT 166,292 146,023
Other creditors 574,716 663,942
Directors' current accounts 31,224 86,574
Accrued expenses 5,000 21,035
1,432,300 1,651,528

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans - 2-5 years 22,197 2,284
Hire purchase contracts 938,303 326,287
960,500 328,571

Barnett Transport Limited (Registered number: 04473051)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Factoring Creditor 574,716 663,942

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
4,000 Ordinary £1 4,000 4,000

11. RESERVES
Retained
earnings
£   

At 1 August 2022 317,114
Profit for the year 538,571
Dividends (211,424 )
At 31 July 2023 644,261

12. ULTIMATE CONTROLLING PARTY

In the opinion of the directors, there is deemed to be no ultimate controlling party.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Barnett Transport Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Barnett Transport Limited for the year ended 31 July 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Barnett Transport Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Barnett Transport Limited and state those matters that we have agreed to state to the Board of Directors of Barnett Transport Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Barnett Transport Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Barnett Transport Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Barnett Transport Limited. You consider that Barnett Transport Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Barnett Transport Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Voisey & Co LLP
Chartered Accountants
8 Winmarleigh Street
Warrington
Cheshire
WA1 1JW


14 February 2024