REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st July 2023 |
for |
CADZOW HEAVY HAULAGE LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st July 2023 |
for |
CADZOW HEAVY HAULAGE LIMITED |
CADZOW HEAVY HAULAGE LIMITED (REGISTERED NUMBER: SC053552) |
Contents of the Financial Statements |
for the Year Ended 31st July 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
CADZOW HEAVY HAULAGE LIMITED |
Company Information |
for the Year Ended 31st July 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
10 Abercorn Drive |
Hamilton |
ML3 7EX |
BANKERS: |
135 Almada Street |
Hamilton |
ML3 0EX |
CADZOW HEAVY HAULAGE LIMITED (REGISTERED NUMBER: SC053552) |
Balance Sheet |
31st July 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Fair value reserve | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
CADZOW HEAVY HAULAGE LIMITED (REGISTERED NUMBER: SC053552) |
Balance Sheet - continued |
31st July 2023 |
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 |
CADZOW HEAVY HAULAGE LIMITED (REGISTERED NUMBER: SC053552) |
Notes to the Financial Statements |
for the Year Ended 31st July 2023 |
1. | STATUTORY INFORMATION |
Cadzow Heavy Haulage Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover and revenue recognition |
Turnover is derived from haulage of heavy plant and equipment. |
Turnover therefore represents the income from these sources, net of discounts and excluding value added tax, and is recognised at the point that these services are supplied. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
The company's policy is to carry all assets at historical cost less accumulated depreciation and accumulated impairment loss, except for freehold property which has been included in the balance sheet at a valuation existing on 31st July 2017 when the company implemented FRS 102 for the first time. |
At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
Expenditure of £300 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred. |
Stocks |
Stocks are valued at the lower of cost and expected selling price less costs to complete, after making due allowance for obsolete and slow moving items. |
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. |
CADZOW HEAVY HAULAGE LIMITED (REGISTERED NUMBER: SC053552) |
Notes to the Financial Statements - continued |
for the Year Ended 31st July 2023 |
3. | 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1st August 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 31st July 2023 |
DEPRECIATION |
At 1st August 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31st July 2023 |
NET BOOK VALUE |
At 31st July 2023 |
At 31st July 2022 |
CADZOW HEAVY HAULAGE LIMITED (REGISTERED NUMBER: SC053552) |
Notes to the Financial Statements - continued |
for the Year Ended 31st July 2023 |
5. | TANGIBLE FIXED ASSETS - continued |
Cost or valuation at 31st July 2023 is represented by: |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2016 | 1,200,000 | - | 1,200,000 |
Cost | - | 3,684,705 | 3,684,705 |
1,200,000 | 3,684,705 | 4,884,705 |
If freehold property had not been revalued it would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 220,174 | 220,174 |
Aggregate depreciation | 106,437 | 102,354 |
Freehold property was valued on an open market basis on 10th June 2016 by Ryden LLP, Chartered Surveyors, Glasgow at the sum of £1,200,000. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | RESERVES |
Fair |
value |
reserve |
£ |
At 1st August 2022 |
Released to profit and loss account | (18,486 | ) |
At 31st July 2023 |
CADZOW HEAVY HAULAGE LIMITED (REGISTERED NUMBER: SC053552) |
Notes to the Financial Statements - continued |
for the Year Ended 31st July 2023 |
9. | RELATED PARTY DISCLOSURES |
The directors loans, owed by the company, amounted to £1,427,690. These are interest free and have no fixed repayment terms. |