Eddie's Transport Limited 1376042 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is that of haulage contractors Digita Accounts Production Advanced 6.30.9574.0 true 1376042 2022-07-01 2023-06-30 1376042 2023-06-30 1376042 bus:OrdinaryShareClass1 2023-06-30 1376042 core:CapitalRedemptionReserve 2023-06-30 1376042 core:RetainedEarningsAccumulatedLosses 2023-06-30 1376042 core:ShareCapital 2023-06-30 1376042 core:CurrentFinancialInstruments 2023-06-30 1376042 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 1376042 core:Non-currentFinancialInstruments 2023-06-30 1376042 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 1376042 core:LandBuildings 2023-06-30 1376042 core:OtherPropertyPlantEquipment 2023-06-30 1376042 bus:SmallEntities 2022-07-01 2023-06-30 1376042 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 1376042 bus:FullAccounts 2022-07-01 2023-06-30 1376042 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 1376042 bus:RegisteredOffice 2022-07-01 2023-06-30 1376042 bus:Director2 2022-07-01 2023-06-30 1376042 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 1376042 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 1376042 core:Buildings 2022-07-01 2023-06-30 1376042 core:LandBuildings 2022-07-01 2023-06-30 1376042 core:OtherPropertyPlantEquipment 2022-07-01 2023-06-30 1376042 core:PlantMachinery 2022-07-01 2023-06-30 1376042 countries:England 2022-07-01 2023-06-30 1376042 2022-06-30 1376042 core:LandBuildings 2022-06-30 1376042 core:OtherPropertyPlantEquipment 2022-06-30 1376042 2021-07-01 2022-06-30 1376042 2022-06-30 1376042 bus:OrdinaryShareClass1 2022-06-30 1376042 core:CapitalRedemptionReserve 2022-06-30 1376042 core:RetainedEarningsAccumulatedLosses 2022-06-30 1376042 core:ShareCapital 2022-06-30 1376042 core:CurrentFinancialInstruments 2022-06-30 1376042 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 1376042 core:Non-currentFinancialInstruments 2022-06-30 1376042 core:Non-currentFinancialInstruments core:AfterOneYear 2022-06-30 1376042 core:LandBuildings 2022-06-30 1376042 core:OtherPropertyPlantEquipment 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 1376042

Eddie's Transport Limited

Filleted Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Eddie's Transport Limited

(Registration number: 1376042)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

305,845

373,202

Current assets

 

Stocks

10,702

12,751

Debtors

5

101,462

105,048

Cash at bank and in hand

 

22,148

29,910

 

134,312

147,709

Creditors: Amounts falling due within one year

6

(95,972)

(91,160)

Net current assets

 

38,340

56,549

Total assets less current liabilities

 

344,185

429,751

Creditors: Amounts falling due after more than one year

6

(36,043)

(84,565)

Provisions for liabilities

(9,269)

(14,829)

Net assets

 

298,873

330,357

Capital and reserves

 

Called up share capital

8

700

700

Capital redemption reserve

300

300

Retained earnings

297,873

329,357

Shareholders' funds

 

298,873

330,357

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 and the option not to file the Profit and Loss Account has been taken.

 

Eddie's Transport Limited

(Registration number: 1376042)
Balance Sheet as at 30 June 2023

Approved and authorised by the Board on 1 March 2024 and signed on its behalf by:
 


Mr A E Brzozowski
Director

   
 

Eddie's Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Woodhouse Road
Scunthorpe
North Lincolnshire
DN16 1BD

The company's registration number is 1376042.

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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' 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.

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 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 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.

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.

 

Eddie's Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold land and buildings

2% per annum on cost

Plant & machinery

20 and 25% per annum on written down value

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

 

Eddie's Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 5 (2022 - 6).

 

Eddie's Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Freehold land and buildings
£

Plant and machinery
 £

Total
£

Cost or valuation

At 1 July 2022

302,682

284,012

586,694

Additions

-

5,000

5,000

Disposals

-

(58,500)

(58,500)

At 30 June 2023

302,682

230,512

533,194

Depreciation

At 1 July 2022

76,993

136,499

213,492

Charge for the year

4,283

31,226

35,509

Eliminated on disposal

-

(21,652)

(21,652)

At 30 June 2023

81,276

146,073

227,349

Carrying amount

At 30 June 2023

221,406

84,439

305,845

At 30 June 2022

225,689

147,513

373,202

5

Debtors

2023
£

2022
£

Trade debtors

100,798

103,513

Other debtors

664

1,535

 

101,462

105,048

 

Eddie's Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

6

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

35,511

58,666

Trade creditors

 

23,921

6,359

Social security and other taxes

 

11,217

9,143

Other creditors

 

25,323

16,992

 

95,972

91,160

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

36,043

84,565

 

Eddie's Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

7

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,148

10,155

Hire purchase liabilities

25,363

48,511

35,511

58,666

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

19,013

29,009

Hire purchase liabilities

17,030

55,556

36,043

84,565

The hire purchase liabilities are secured upon the assets to which they relate.

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

700

700

700

700