Registered number
07112826
TT Couriers Limited
Filleted Accounts
31 December 2023
TT Couriers Limited
Registered number: 07112826
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 98,905 139,208
Current assets
Debtors 4 291,096 236,575
Cash at bank and in hand 57 7,885
291,153 244,460
Creditors: amounts falling due within one year 5 (478,292) (407,994)
Net current liabilities (187,139) (163,534)
Total assets less current liabilities (88,234) (24,326)
Creditors: amounts falling due after more than one year 6 (42,119) (107,080)
Provisions for liabilities (8,563) (7,955)
Net liabilities (138,916) (139,361)
Capital and reserves
Called up share capital 300 300
Profit and loss account (139,216) (139,661)
Shareholders' funds (138,916) (139,361)
The director is 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 director acknowledges his 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.
T P Hull
Director
Approved by the board on 10 April 2024
TT Couriers Limited
Notes to the Accounts
for the year ended 31 December 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:
Motor vehicles 25% reducing balance
Fixtures & fittings 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 17 15
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 11,217 266,928 278,145
Disposals - (23,500) (23,500)
At 31 December 2023 11,217 243,428 254,645
Depreciation
At 1 January 2023 9,553 129,384 138,937
Charge for the year 416 32,552 32,968
On disposals - (16,165) (16,165)
At 31 December 2023 9,969 145,771 155,740
Net book value
At 31 December 2023 1,248 97,657 98,905
At 31 December 2022 1,664 137,544 139,208
4 Debtors 2023 2022
£ £
Trade debtors 278,403 223,553
Other debtors 12,693 13,022
291,096 236,575
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 255,066 206,255
Obligations under finance lease and hire purchase contracts 28,660 15,300
Trade creditors 97,817 69,891
Taxation and social security costs 65,464 102,796
Other creditors 31,285 13,752
478,292 407,994
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 10,000 24,167
Obligations under finance lease and hire purchase contracts 32,119 82,913
42,119 107,080
7 Events after the reporting date
Whilst the company has significant debts, mainly caused by higher fuel prices and a significant bad
debt in the previous year, it is now trading profitably.
8 Other information
TT Couriers Limited is a private company limited by shares and incorporated in England. Its registered office is:
2 Stratton Park
Dunton Lane
Biggleswade
Beds
SG18 8QS
TT Couriers Limited 07112826 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts October 2023 release 2 T P Hull No description of principal activity 07112826 2022-01-01 2022-12-31 07112826 core:WithinOneYear 2022-12-31 07112826 core:AfterOneYear 2022-12-31 07112826 core:ShareCapital 2022-12-31 07112826 core:RetainedEarningsAccumulatedLosses 2022-12-31 07112826 2023-01-01 2023-12-31 07112826 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07112826 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 07112826 bus:Director40 2023-01-01 2023-12-31 07112826 1 2023-01-01 2023-12-31 07112826 2 2023-01-01 2023-12-31 07112826 core:PlantMachinery 2023-01-01 2023-12-31 07112826 core:Vehicles 2023-01-01 2023-12-31 07112826 1 2023-01-01 2023-12-31 07112826 countries:England 2023-01-01 2023-12-31 07112826 bus:FRS102 2023-01-01 2023-12-31 07112826 bus:FullAccounts 2023-01-01 2023-12-31 07112826 2023-12-31 07112826 core:WithinOneYear 2023-12-31 07112826 core:AfterOneYear 2023-12-31 07112826 core:ShareCapital 2023-12-31 07112826 core:RetainedEarningsAccumulatedLosses 2023-12-31 07112826 core:PlantMachinery 2023-12-31 07112826 core:Vehicles 2023-12-31 07112826 2022-12-31 07112826 core:PlantMachinery 2022-12-31 07112826 core:Vehicles 2022-12-31 iso4217:GBP xbrli:pure