Registered number
09679829
R & N Transport Ltd
Filleted Accounts
31 March 2023
R & N Transport Ltd
Registered number: 09679829
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 7,268 9,691
Current assets
Debtors 4 - 7,021
Cash at bank and in hand 52,853 71,032
52,853 78,053
Creditors: amounts falling due within one year 5 (9,685) (22,834)
Net current assets 43,168 55,219
Net assets 50,436 64,910
Capital and reserves
Called up share capital 100 100
Profit and loss account 50,336 64,810
Shareholders' funds 50,436 64,910
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.
R Prescott N Ross
Director Director
Approved by the board on 21 February 2024
R & N Transport Ltd
Notes to the Accounts
for the year ended 31 March 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 by reducing balance method, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Motor vehicle 25% reducing balance
Office equipment 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 1,169 46,395 47,564
At 31 March 2023 1,169 46,395 47,564
Depreciation
At 1 April 2022 960 36,913 37,873
Charge for the year 52 2,371 2,423
At 31 March 2023 1,012 39,284 40,296
Net book value
At 31 March 2023 157 7,111 7,268
At 31 March 2022 209 9,482 9,691
4 Debtors 2023 2022
£ £
Trade debtors - 7,021
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors - 428
Director's current account - 2,075
Taxation and social security costs 8,365 18,632
Other creditors 1,320 1,699
9,685 22,834
6 Other information
R & N Transport Ltd is a private company limited by shares and incorporated in England. Its registered office is:
34 Gorringe Park Avenue
Mitcham
Surrey
CR4 2DG
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