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Registration number: 11085010

Simon Chase Haulage Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Simon Chase Haulage Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Balance Sheet

4

Statement of Changes in Equity

5

Notes to the Unaudited Financial Statements

6 to 11

 

Simon Chase Haulage Ltd

Company Information

Directors

Mr Simon Arthur Chase

Mrs Siobain Chase

Registered office

11 Firth Close
Swindon
Wilts
SN25 3NX

Accountants

BNL Accounting Services Ltd
42 Vanbrugh Gate
Broome manor
Wiltshire
SN3 1NQ

 

Simon Chase Haulage Ltd

Directors' Report for the Year Ended 30 June 2023

The directors present their report and the financial statements for the year ended 30 June 2023.

Directors of the company

The directors who held office during the year were as follows:

Mr Simon Arthur Chase

Mrs Siobain Chase

Principal activity

The principal activity of the company is Road Haulage

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 11 April 2024 and signed on its behalf by:
 

.........................................
Mr Simon Arthur Chase
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Simon Chase Haulage Ltd
for the Year Ended 30 June 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Simon Chase Haulage Ltd for the year ended 30 June 2023 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Simon Chase Haulage Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Simon Chase Haulage Ltd and state those matters that we have agreed to state to the Board of Directors of Simon Chase Haulage Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Simon Chase Haulage Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Simon Chase Haulage Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Simon Chase Haulage Ltd. You consider that Simon Chase Haulage Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Simon Chase Haulage Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

BNL Accounting Services Ltd
42 Vanbrugh Gate
Broome manor
Wiltshire
SN3 1NQ

11 April 2024

 

Simon Chase Haulage Ltd

(Registration number: 11085010)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

64,210

77,460

Current assets

 

Cash at bank and in hand

 

100,246

60,356

Creditors: Amounts falling due within one year

6

(29,493)

(23,511)

Net current assets

 

70,753

36,845

Total assets less current liabilities

 

134,963

114,305

Creditors: Amounts falling due after more than one year

6

(916)

(9,404)

Net assets

 

134,047

104,901

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

133,947

104,801

Shareholders' funds

 

134,047

104,901

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 April 2024 and signed on its behalf by:
 

.........................................
Mrs Siobain Chase
Director

 

Simon Chase Haulage Ltd

Statement of Changes in Equity for the Year Ended 30 June 2023

Share capital
£

Retained earnings
£

Total
£

At 1 July 2022

100

104,801

104,901

Profit for the year

-

31,146

31,146

Dividends

-

(2,000)

(2,000)

At 30 June 2023

100

133,947

134,047

Share capital
£

Retained earnings
£

Total
£

At 1 July 2021

100

39,609

39,709

Profit for the year

-

65,192

65,192

At 30 June 2022

100

104,801

104,901

 

Simon Chase Haulage Ltd

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 and Wales.

The address of its registered office is:
11 Firth Close
Swindon
Wilts
SN25 3NX
United Kingdom

These financial statements were authorised for issue by the Board on 11 April 2024.

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 sales/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 current 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 income 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.

 

Simon Chase Haulage Ltd

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

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% Reducing Balance

Motor Vehicles

25% Reducing balance

Office Equipment

15% Reducing Balance

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 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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

 

Simon Chase Haulage Ltd

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

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Simon Chase Haulage Ltd

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

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

570

76,693

55,500

132,763

At 30 June 2023

570

76,693

55,500

132,763

Depreciation

At 1 July 2022

570

16,794

37,939

55,303

Charge for the year

-

8,985

4,265

13,250

At 30 June 2023

570

25,779

42,204

68,553

Carrying amount

At 30 June 2023

-

50,914

13,296

64,210

At 30 June 2022

-

59,899

17,561

77,460

5

Debtors

Current

2023
£

2022
£

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

10,200

18,516

Taxation and social security

 

17,818

3,520

Accruals and deferred income

 

1,475

1,475

 

29,493

23,511

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

916

9,404

 

Simon Chase Haulage Ltd

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

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

916

9,404

2023
£

2022
£

Current loans and borrowings

Other borrowings

10,200

18,516

9

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £20.00 (2022 - £Nil) per each Ordinary Shares

 

2,000

 

-

         

10

Related party transactions

 

Simon Chase Haulage Ltd

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

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

24,960

24,960

Contributions paid to money purchase schemes

2,125

5,689

27,085

30,649