Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01No description of principal activity22falsetruefalse 05668264 2023-01-01 2023-12-31 05668264 2022-01-01 2022-12-31 05668264 2023-12-31 05668264 2022-12-31 05668264 c:Director1 2023-01-01 2023-12-31 05668264 d:Buildings 2023-01-01 2023-12-31 05668264 d:Buildings 2023-12-31 05668264 d:Buildings 2022-12-31 05668264 d:LandBuildings 2023-12-31 05668264 d:LandBuildings 2022-12-31 05668264 d:CurrentFinancialInstruments 2023-12-31 05668264 d:CurrentFinancialInstruments 2022-12-31 05668264 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 05668264 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 05668264 d:ShareCapital 2023-12-31 05668264 d:ShareCapital 2022-12-31 05668264 d:RetainedEarningsAccumulatedLosses 2023-12-31 05668264 d:RetainedEarningsAccumulatedLosses 2022-12-31 05668264 c:FRS102 2023-01-01 2023-12-31 05668264 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 05668264 c:FullAccounts 2023-01-01 2023-12-31 05668264 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05668264 2 2023-01-01 2023-12-31 05668264 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 05668264










MAYFLOWER TRUCKS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
MAYFLOWER TRUCKS LIMITED
REGISTERED NUMBER:05668264

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
340,871
340,871

  
340,871
340,871

Current assets
  

Stocks
  
315,250
50,000

Debtors: amounts falling due within one year
 5 
798,157
144,775

Current asset investments
 6 
77,843
76,826

Cash at bank and in hand
  
761,667
702,629

  
1,952,917
974,230

Creditors: amounts falling due within one year
 7 
(999,496)
(340,020)

Net current assets
  
 
 
953,421
 
 
634,210

Total assets less current liabilities
  
1,294,292
975,081

  

Net assets
  
1,294,292
975,081


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
1,293,292
974,081

  
1,294,292
975,081


Page 1

 
MAYFLOWER TRUCKS LIMITED
REGISTERED NUMBER:05668264
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




N G C Watts
Director

Date: 27 March 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
MAYFLOWER TRUCKS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Mayflower Trucks Limited is a private company limited by shares and incorporated in England and Wales, registration number 05668264. The registered office is 52 London Road, Harleston, Norfolk, England, IP20 9BZ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
MAYFLOWER TRUCKS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, Freehold property is not depreciated.

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
MAYFLOWER TRUCKS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
MAYFLOWER TRUCKS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Freehold property

£



Cost or valuation


At 1 January 2023
340,871



At 31 December 2023

340,871






Net book value



At 31 December 2023
340,871



At 31 December 2022
340,871




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Freehold
340,871
340,871

340,871
340,871


Page 6

 
MAYFLOWER TRUCKS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
769,663
126,313

Prepayments and accrued income
28,494
18,462

798,157
144,775



6.


Current asset investments

2023
2022
£
£

Cash on deposit
77,843
76,826

77,843
76,826



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
832,590
155,576

Amounts owed to other participating interests
10,548
26,661

Corporation tax
98,141
52,343

Other taxation and social security
26,646
43,243

Other creditors
300
525

Accruals and deferred income
31,271
61,672

999,496
340,020


 
Page 7