Registered number
05161363
Matt Bushell Transport Limited
Filleted Accounts
30 June 2023
Matt Bushell Transport Limited
Registered number: 05161363
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 74,468 98,659
Current assets
Debtors 4 21,950 16,923
Cash at bank and in hand 67,316 71,573
89,266 88,496
Creditors: amounts falling due within one year 5 (31,342) (35,387)
Net current assets 57,924 53,109
Total assets less current liabilities 132,392 151,768
Creditors: amounts falling due after more than one year 6 - (8,333)
Provisions for liabilities (14,149) (18,745)
Net assets 118,243 124,690
Capital and reserves
Called up share capital 2 2
Profit and loss account 118,241 124,688
Shareholders' funds 118,243 124,690
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.
Matthew Francis Bushell
Director
Approved by the board on 27 February 2024
Matt Bushell Transport Limited
Notes to the Accounts
for the year ended 30 June 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
Motor vehicles 25% reducing balance
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Fixtures, fittings, tools and equipment Motor vehicles Total
£ £ £
Cost
At 1 July 2022 5,077 164,599 169,676
Additions 632 - 632
At 30 June 2023 5,709 164,599 170,308
Depreciation
At 1 July 2022 3,746 67,271 71,017
Charge for the year 491 24,332 24,823
At 30 June 2023 4,237 91,603 95,840
Net book value
At 30 June 2023 1,472 72,996 74,468
At 30 June 2022 1,331 97,328 98,659
4 Debtors 2023 2022
£ £
Trade debtors 21,530 16,503
Other debtors 420 420
21,950 16,923
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 8,333 12,500
Trade creditors 4,829 3,440
Taxation and social security costs 15,557 12,415
Directors loan 1,173 5,682
Other creditors 1,450 1,350
31,342 35,387
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts - 8,333
7 Other information
Matt Bushell Transport Limited is a private company limited by shares and incorporated in England. Its registered office is:
8 Alexander Way
Yatton
North Somerset
BS49 4HE
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