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REGISTERED NUMBER: 03847630 (England and Wales)








Strategic Report,

Report of the Directors and

Financial Statements

For The Year Ended 30 September 2023

for

Burcombe Haulage Limited

Burcombe Haulage Limited (Registered number: 03847630)






Contents of the Financial Statements
For The Year Ended 30 September 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Statement of Comprehensive Income 7

Balance Sheet 8

Statement of Changes in Equity 9

Cash Flow Statement 10

Notes to the Cash Flow Statement 11

Notes to the Financial Statements 12


Burcombe Haulage Limited

Company Information
For The Year Ended 30 September 2023







DIRECTORS: Mrs C M Hodge
Mrs N A Haigh
Mr R Ackford
Mr S Wilkie





SECRETARY: Mrs N A Haigh





REGISTERED OFFICE: Harscombe House
1 Darklake View
Plymouth
Devon
PL6 7TL





REGISTERED NUMBER: 03847630 (England and Wales)





AUDITORS: Bromhead
Chartered Accountants
Statutory Auditors
Harscombe House
1 Darklake View
Plymouth
Devon
PL6 7TL

Burcombe Haulage Limited (Registered number: 03847630)

Strategic Report
For The Year Ended 30 September 2023

The directors present their strategic report for the year ended 30 September 2023.

REVIEW OF BUSINESS
During the year the company continued the business of haulage, primarily for the construction industry but also for general haulage and freight distribution services.

The Company's turnover for the year was £17,359,525 a decrease of 0.88% on the prior year (2022: £17,513,234). Profit before tax for the financial year saw an increase of 17.31% to £1,205,765 (2022: £1,027,873).

The balance sheet shows a strengthened position with net assets increasing by 5.04% on the prior year to £7,715,114 (2022: £7,344,855).

Key performance indicators and other business measures

30.09.23 30.09.22
£ £
Turnover 17,359,525 17,513,234
Gross margin 15.63% 14.17%
Profit before tax 1,205,765 1,027,873
Net assets 7,715,114 7,344,855



PRINCIPAL RISKS AND UNCERTAINTIES
The key risks facing the company are:

Cyclical nature of the construction industry - most of the trading activity of the company is based around the construction industry which suffers from lean times and times of opportunity. The directors mitigate this risk through company use of sub-contractors which enable the company to control labour costs during busier times.

Availability of skilled drivers - with the plant utilised by the company skilled drivers are becoming more difficult to attract and retain. The directors review the recruitment and retention initiatives to ensure it attracts the best staff and keeps them with the company.

Costs of fuel - Fuel prices are monitored by the company and reflected within their pricing structure. To mitigate this risk, the directors periodically review the pricing structure to ensure fuel price movement is reflected in the pricing policy.

ON BEHALF OF THE BOARD:





Mr R T Batten - Director


18 April 2024

Burcombe Haulage Limited (Registered number: 03847630)

Report of the Directors
For The Year Ended 30 September 2023

The directors present their report with the financial statements of the company for the year ended 30 September 2023.

DIVIDENDS
Interim dividends of £5,611.11 per ordinary A share and £3,000 per ordinary B share were paid during the year. The directors recommended a final dividend of £nil per share.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 October 2022 to the date of this report.

Mrs C M Hodge
Mrs N A Haigh
Mr R Ackford
Mr S Wilkie

Other changes in directors holding office are as follows:

Mr R T Batten - resigned 29 June 2023

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Bromhead, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr R T Batten - Director


18 April 2024

Report of the Independent Auditors to the Members of
Burcombe Haulage Limited

Opinion
We have audited the financial statements of Burcombe Haulage Limited (the 'company') for the year ended 30 September 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 September 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
Burcombe Haulage Limited


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.

We identified the laws and regulations applicable to the company through discussions with directors and other management and from our commercial knowledge.

We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company including, Companies Act 2006, Health & Safety at Work Act, Employment Law and data protection.

We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur by, making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud. Also, considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls we performed analytical procedures to identify any unusual or unexpected relationships, tested journal entries to identify any unusual transaction and assessed whether judgement and estimates were indicative of potential bias.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to agreeing financial statement disclosures to underlying supporting documents, reading the minutes of meeting of those charged with governance and enquiring of management as to actual and potential litigation claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect that those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Burcombe Haulage Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




James Groves (Senior Statutory Auditor)
for and on behalf of Bromhead
Chartered Accountants
Statutory Auditors
Harscombe House
1 Darklake View
Plymouth
Devon
PL6 7TL

18 April 2024

Burcombe Haulage Limited (Registered number: 03847630)

Statement of Comprehensive
Income
For The Year Ended 30 September 2023

30.9.23 30.9.22
Notes £    £   

TURNOVER 17,359,525 17,513,234

Cost of sales 14,645,892 15,032,066
GROSS PROFIT 2,713,633 2,481,168

Administrative expenses 1,484,750 1,436,475
1,228,883 1,044,693

Other operating income 2,898 5,871
OPERATING PROFIT 4 1,231,781 1,050,564

Interest receivable and similar income 10,456 2,084
1,242,237 1,052,648

Interest payable and similar expenses 5 36,472 24,775
PROFIT BEFORE TAXATION 1,205,765 1,027,873

Tax on profit 6 317,506 179,822
PROFIT FOR THE FINANCIAL YEAR 888,259 848,051

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

888,259

848,051

Burcombe Haulage Limited (Registered number: 03847630)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 8 8,326 14,203
Tangible assets 9 4,446,231 3,762,341
4,454,557 3,776,544

CURRENT ASSETS
Debtors 10 6,384,047 6,133,789
Cash at bank and in hand 833,574 833,088
7,217,621 6,966,877
CREDITORS
Amounts falling due within one year 11 2,546,477 2,255,979
NET CURRENT ASSETS 4,671,144 4,710,898
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,125,701

8,487,442

CREDITORS
Amounts falling due after more than one
year

12

(569,110

)

(475,213

)

PROVISIONS FOR LIABILITIES 15 (841,477 ) (667,374 )
NET ASSETS 7,715,114 7,344,855

CAPITAL AND RESERVES
Called up share capital 16 100 100
Retained earnings 17 7,715,014 7,344,755
SHAREHOLDERS' FUNDS 7,715,114 7,344,855

The financial statements were approved by the Board of Directors and authorised for issue on 18 April 2024 and were signed on its behalf by:




Mrs N A Haigh - Director



Mrs C M Hodge - Director


Burcombe Haulage Limited (Registered number: 03847630)

Statement of Changes in Equity
For The Year Ended 30 September 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 October 2021 100 6,733,704 6,733,804

Changes in equity
Dividends - (237,000 ) (237,000 )
Total comprehensive income - 848,051 848,051
Balance at 30 September 2022 100 7,344,755 7,344,855

Changes in equity
Dividends - (518,000 ) (518,000 )
Total comprehensive income - 888,259 888,259
Balance at 30 September 2023 100 7,715,014 7,715,114

Burcombe Haulage Limited (Registered number: 03847630)

Cash Flow Statement
For The Year Ended 30 September 2023

30.9.23 30.9.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,641,331 1,607,324
Interest element of hire purchase payments
paid

(36,472

)

(24,775

)
Tax paid 113,928 169,260
Net cash from operating activities 1,718,787 1,751,809

Cash flows from investing activities
Purchase of tangible fixed assets (1,608,061 ) (1,240,846 )
Sale of tangible fixed assets 122,590 152,795
Interest received 10,456 2,084
Net cash from investing activities (1,475,015 ) (1,085,967 )

Cash flows from financing activities
New hire purchase in year 847,541 526,840
Capital repayments in year (614,747 ) (347,367 )
Amount introduced by directors - (1 )
Amount withdrawn by directors - (154 )
Group company loan movement 41,920 (277,236 )
Equity dividends paid (518,000 ) (237,000 )
Net cash from financing activities (243,286 ) (334,918 )

Increase in cash and cash equivalents 486 330,924
Cash and cash equivalents at beginning
of year

2

833,088

502,164

Cash and cash equivalents at end of year 2 833,574 833,088

Burcombe Haulage Limited (Registered number: 03847630)

Notes to the Cash Flow Statement
For The Year Ended 30 September 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
30.9.23 30.9.22
£    £   
Profit before taxation 1,205,765 1,027,873
Depreciation charges 798,650 662,430
Loss/(profit) on disposal of fixed assets 8,808 (40,353 )
Finance costs 36,472 24,775
Finance income (10,456 ) (2,084 )
2,039,239 1,672,641
(Increase)/decrease in trade and other debtors (421,885 ) 216,316
Increase/(decrease) in trade and other creditors 23,977 (281,633 )
Cash generated from operations 1,641,331 1,607,324

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 September 2023
30.9.23 1.10.22
£    £   
Cash and cash equivalents 833,574 833,088
Year ended 30 September 2022
30.9.22 1.10.21
£    £   
Cash and cash equivalents 833,088 502,164


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.10.22 Cash flow At 30.9.23
£    £    £   
Net cash
Cash at bank and in hand 833,088 486 833,574
833,088 486 833,574
Debt
Finance leases (953,744 ) (232,793 ) (1,186,537 )
(953,744 ) (232,793 ) (1,186,537 )
Total (120,656 ) (232,307 ) (352,963 )

Burcombe Haulage Limited (Registered number: 03847630)

Notes to the Financial Statements
For The Year Ended 30 September 2023

1. STATUTORY INFORMATION

Burcombe Haulage 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales, excluding value added tax. Turnover is recognised at the point the customer is invoiced for goods and services.

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.

Computer Software are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 2% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Deferred taxation
Full provision is made at current rates for taxation deferred in respect of all material timing differences.


3. EMPLOYEES AND DIRECTORS
30.9.23 30.9.22
£    £   
Wages and salaries 4,282,165 3,822,903
Social security costs 418,053 389,860
Other pension costs 109,701 87,685
4,809,919 4,300,448

The average number of employees during the year was as follows:
30.9.23 30.9.22

Directors 5 5
Administration 11 9
Drivers 93 89
109 103

Burcombe Haulage Limited (Registered number: 03847630)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2023

3. EMPLOYEES AND DIRECTORS - continued

30.9.23 30.9.22
£    £   
Directors' remuneration 182,937 180,563
Directors' pension contributions to money purchase schemes 27,253 12,278

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 5 5

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

30.9.23 30.9.22
£    £   
Depreciation - owned assets 445,530 344,009
Depreciation - assets on hire purchase contracts 349,323 312,545
Loss/(profit) on disposal of fixed assets 8,808 (40,353 )
Computer Software amortisation 5,877 5,877
Auditors' remuneration 3,440 3,280

5. INTEREST PAYABLE AND SIMILAR EXPENSES
30.9.23 30.9.22
£    £   
Hire purchase interest 36,472 24,775

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.9.23 30.9.22
£    £   
Current tax:
UK corporation tax 143,403 15,331
R&D tax credit - (129,256 )
Total current tax 143,403 (113,925 )

Deferred tax 174,103 293,747
Tax on profit 317,506 179,822

Burcombe Haulage Limited (Registered number: 03847630)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2023

6. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

30.9.23 30.9.22
£    £   
Profit before tax 1,205,765 1,027,873
Profit multiplied by the standard rate of corporation tax in the UK of 22%
(2022 - 19%)

265,268

195,296

Effects of:
Expenses not deductible for tax purposes 2,621 875
Capital allowances in excess of depreciation (140,314 ) (180,840 )
Adjustments to tax charge in respect of previous periods 15,828 -
Deferred tax 174,103 293,747
Research & Development credit - (129,256 )
Total tax charge 317,506 179,822

7. DIVIDENDS
30.9.23 30.9.22
£    £   
Ordinary shares of £1 each
Final 518,000 237,000

8. INTANGIBLE FIXED ASSETS
Computer
Software
£   
COST
At 1 October 2022
and 30 September 2023 29,386
AMORTISATION
At 1 October 2022 15,183
Amortisation for year 5,877
At 30 September 2023 21,060
NET BOOK VALUE
At 30 September 2023 8,326
At 30 September 2022 14,203

Burcombe Haulage Limited (Registered number: 03847630)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2023

9. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 October 2022 748,589 6,718,289 131,984 71,058 7,669,920
Additions 25,244 1,481,375 12,337 89,105 1,608,061
Disposals - (619,247 ) - (2,896 ) (622,143 )
At 30 September 2023 773,833 7,580,417 144,321 157,267 8,655,838
DEPRECIATION
At 1 October 2022 112,830 3,654,783 87,495 52,471 3,907,579
Charge for year 15,237 743,220 9,539 26,857 794,853
Eliminated on disposal - (489,944 ) - (2,881 ) (492,825 )
At 30 September 2023 128,067 3,908,059 97,034 76,447 4,209,607
NET BOOK VALUE
At 30 September 2023 645,766 3,672,358 47,287 80,820 4,446,231
At 30 September 2022 635,759 3,063,506 44,489 18,587 3,762,341

The total carrying amount of assets is pledged as security for the group's bank loans.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 October 2022 2,476,127
Additions 1,079,523
Transfer to ownership (882,187 )
At 30 September 2023 2,673,463
DEPRECIATION
At 1 October 2022 925,777
Charge for year 349,323
Transfer to ownership (486,803 )
At 30 September 2023 788,297
NET BOOK VALUE
At 30 September 2023 1,885,166
At 30 September 2022 1,550,350

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 2,956,112 2,577,290
Amounts owed by group undertakings 3,230,398 3,272,319
Other debtors 11,980 10,436
Tax - 129,706
Prepayments and accrued income 185,557 144,038
6,384,047 6,133,789

Burcombe Haulage Limited (Registered number: 03847630)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2023

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Hire purchase contracts (see note 13) 617,427 478,531
Trade creditors 1,333,299 1,421,076
Corporation tax 127,625 -
VAT 371,276 194,156
Other creditors 96,849 162,215
Directors' loan accounts 1 1
2,546,477 2,255,979

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.23 30.9.22
£    £   
Hire purchase contracts (see note 13) 569,110 475,213

13. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.9.23 30.9.22
£    £   
Net obligations repayable:
Within one year 617,427 478,531
Between one and five years 569,110 475,213
1,186,537 953,744

Non-cancellable operating leases
30.9.23 30.9.22
£    £   
Within one year 373,323 410,203
Between one and five years 568,014 736,519
In more than five years - 14,105
941,337 1,160,827

14. SECURED DEBTS

The company provides a guarantee for the bank loan held within the sister company Callycombe Aggregates Limited by way of a fixed charge over the company's assets.

15. PROVISIONS FOR LIABILITIES
30.9.23 30.9.22
£    £   
Deferred tax provision 841,477 667,374

Deferred
tax
£   
Balance at 1 October 2022 667,374
Accelerated capital allowances 174,103
Change in tax rate
Balance at 30 September 2023 841,477

Burcombe Haulage Limited (Registered number: 03847630)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2023

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.23 30.9.22
value: £    £   
90 Ordinary £1 90 90
10 Ordinary B 1 10 10
100 100

17. RESERVES
Retained
earnings
£   

At 1 October 2022 7,344,755
Profit for the year 888,259
Dividends (518,000 )
At 30 September 2023 7,715,014

18. RELATED PARTY DISCLOSURES

The company trades from premises owned by the directors and no amount is charged by them to the company.

At the year end Burcombe Holdings Ltd, the parent company, owed the company £302,026 (2022: £302,026). No interest has been charged on these loans.

At the year end Burcombe Concrete Ltd, a sister company, owed the company £410,246 (2022: £509,881). No interest has been charged on these loans.

The company made sales to Burcombe Concrete Ltd in the year of £282,995 (2022: £390,735) The amount due to the company at the year end totalled £14,153 (2022: £38,230).

The company made purchases from Burcombe Concrete Ltd in the year of £24,747 (2022: £30,074). The amount owed by the company at the year end totalled £186 (2022: £143).

At the year end Tamar Valley Projects Ltd, a sister company, owed the company £728,655 (2022: £686,305). No interest has been charged on these loans.

At the year end Callycombe Aggregates Ltd, a sister company, owed the company £1,789,472 (2022: £1,774,107). No interest has been charged on these loans.

The company made sales to Callycombe Aggregates Ltd in the year of £99,046 (2022: £90,683). The amount due to the company at the year end totalled £30,007 (2022: £14,608).

The company made purchases from Callycombe Aggregates Ltd in the year of £159,167 (2022: £321,713). The amount owed by the company at the year end totalled £36,363 (2022: £24,842).

19. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C Hodge and N Haigh directors and shareholders of the parent company.