HEADINGTON CARRIERS LIMITED |
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BALANCE SHEET |
AS AT 31 OCTOBER 2023 |
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These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities. |
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For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006. |
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Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
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As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report. |
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Signed on behalf of the board |
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P J Barrett |
Director |
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Date approved by the board: 16 April 2024 |
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HEADINGTON CARRIERS LIMITED |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
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1 |
GENERAL INFORMATION |
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Headington Carriers Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is: |
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The Long Barn |
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The Straight Mile |
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Woodstock |
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Oxford |
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OX20 1PW |
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The financial statements are presented in Sterling, which is the functional currency of the company. |
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2 |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
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Basis of preparation of financial statements |
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These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006. |
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Revenue recognition |
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Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives. |
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Improvements to leasehold property |
Straight line basis over 25 years |
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Containers and storage |
Straight line basis over 15 years |
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Tools and equipment |
Reducing balance basis at 25% per annum |
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Motor vehicles |
Reducing balance basis at 25% per annum |
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On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses. |
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HEADINGTON CARRIERS LIMITED |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
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2 |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) |
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Financial Instruments |
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The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
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Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. |
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HEADINGTON CARRIERS LIMITED |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
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6 |
DEBTORS |
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2023 |
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2022 |
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£ |
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£ |
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Trade debtors |
56,588 |
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133,919 |
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Prepayments and accrued income |
42,512 |
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41,614 |
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Other debtors |
268,080 |
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333,926 |
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367,180 |
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509,459 |
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7 |
CREDITORS: Amounts falling due within one year |
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2023 |
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2022 |
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£ |
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£ |
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Bank loans and overdrafts |
75,844 |
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69,578 |
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Trade creditors |
89,054 |
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109,642 |
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Taxation and social security |
112,144 |
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96,086 |
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Hire purchase contracts and finance leases |
39,148 |
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51,223 |
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Accruals and deferred income |
6,000 |
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6,000 |
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Other creditors |
14,415 |
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12,580 |
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336,605 |
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345,109 |
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8 |
CREDITORS: Amounts falling due after more than one year |
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2023 |
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2022 |
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£ |
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£ |
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Bank loans and overdrafts |
82,322 |
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158,166 |
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Hire purchase contracts and finance leases |
58,108 |
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98,026 |
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140,430 |
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256,192 |
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9 |
SECURED DEBTS |
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The company has a bank loan with Funding Circle which is due for repayment over 60 months with an interest rate of 10.1%. The bank loan is secured by way of a personal guarantee by P J Barrett. |
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The company's bankers hold fixed and floating charges dated 22 August 2000 and 4 July 2017 over the assets of the company. |
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The hire purchase contracts and finance leases are secured on the assets concerned. |
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HEADINGTON CARRIERS LIMITED |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
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10 |
DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following director's advances, credits and guarantees took place during the year: |
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Balance at 1 November 2022 |
Amounts advanced |
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Amounts repaid |
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Amounts written off or waived |
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Balance at 31 October 2023 |
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£ |
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£ |
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£ |
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£ |
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£ |
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P J Barrett |
283,987 |
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211,402 |
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277,048 |
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- |
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218,341 |
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