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REGISTERED NUMBER: 03658682 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

T. A. READER TRANSPORT (I.O.W.) LIMITED

T. A. READER TRANSPORT (I.O.W.) LIMITED (REGISTERED NUMBER: 03658682)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


T. A. READER TRANSPORT (I.O.W.) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: T A Reader
Mrs P V Reader
J C Foreman
M J Foreman





SECRETARY: T A Reader





REGISTERED OFFICE: East Quay
Kite Hill
Wootton Bridge
Isle of Wight
PO33 4LA





REGISTERED NUMBER: 03658682 (England and Wales)





ACCOUNTANTS: Harrison Black Limited
East Quay
Kite Hill
Wootton Bridge
Isle of Wight
PO33 4LA

T. A. READER TRANSPORT (I.O.W.) LIMITED (REGISTERED NUMBER: 03658682)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 387,601 316,638
387,601 316,638

CURRENT ASSETS
Debtors 6 169,220 177,956
Cash at bank and in hand 300,811 307,954
470,031 485,910
CREDITORS
Amounts falling due within one year 7 114,858 115,903
NET CURRENT ASSETS 355,173 370,007
TOTAL ASSETS LESS CURRENT
LIABILITIES

742,774

686,645

CREDITORS
Amounts falling due after more than one
year

8

(23,333

)

(16,305

)

PROVISIONS FOR LIABILITIES (70,656 ) (57,708 )
NET ASSETS 648,785 612,632

T. A. READER TRANSPORT (I.O.W.) LIMITED (REGISTERED NUMBER: 03658682)

BALANCE SHEET - continued
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 648,685 612,532
SHAREHOLDERS' FUNDS 648,785 612,632

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

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 25th March 2024 and were signed on its behalf by:





J C Foreman - Director


T. A. READER TRANSPORT (I.O.W.) LIMITED (REGISTERED NUMBER: 03658682)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. STATUTORY INFORMATION

T. A. Reader Transport (I.O.W.) 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 1999, is being amortised evenly over its estimated useful life of twenty 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 - 4% on cost
Plant & machinery - 20% on reducing balance
Commercial vehicles - 20% on reducing balance
Computer equipment - 20% 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.


T. A. READER TRANSPORT (I.O.W.) LIMITED (REGISTERED NUMBER: 03658682)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

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 10 (2022 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2023
and 31st December 2023 399,000
AMORTISATION
At 1st January 2023
and 31st December 2023 399,000
NET BOOK VALUE
At 31st December 2023 -
At 31st December 2022 -

T. A. READER TRANSPORT (I.O.W.) LIMITED (REGISTERED NUMBER: 03658682)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Freehold Plant & Commercial Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1st January 2023 98,838 34,492 923,894 8,765 1,065,989
Additions - - 138,649 - 138,649
Disposals - - (161,501 ) - (161,501 )
At 31st December 2023 98,838 34,492 901,042 8,765 1,043,137
DEPRECIATION
At 1st January 2023 79,158 23,436 639,225 7,532 749,351
Charge for year 3,953 2,211 43,126 247 49,537
Eliminated on disposal - - (143,352 ) - (143,352 )
At 31st December 2023 83,111 25,647 538,999 7,779 655,536
NET BOOK VALUE
At 31st December 2023 15,727 8,845 362,043 986 387,601
At 31st December 2022 19,680 11,056 284,669 1,233 316,638

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 149,914 151,339
Other debtors 19,306 26,617
169,220 177,956

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 36,304 17,786
Trade creditors 42,135 40,506
Taxation and social security 33,809 54,765
Other creditors 2,610 2,846
114,858 115,903

T. A. READER TRANSPORT (I.O.W.) LIMITED (REGISTERED NUMBER: 03658682)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 23,333 16,305

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 36,304 17,786
Between one and five years 23,333 16,305
59,637 34,091

10. ULTIMATE CONTROLLING PARTY

Mr & Mrs TA Reader own a controlling interest in the company, by virtue of ownership of 51% of the issued ordinary share capital.