IRIS Accounts Production v24.1.0.578 SC521788 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC5217882022-12-31SC5217882023-12-31SC5217882023-01-012023-12-31SC5217882021-12-31SC5217882022-01-012022-12-31SC5217882022-12-31SC521788ns15:Scotland2023-01-012023-12-31SC521788ns14:PoundSterling2023-01-012023-12-31SC521788ns10:Director12023-01-012023-12-31SC521788ns10:PrivateLimitedCompanyLtd2023-01-012023-12-31SC521788ns10:SmallEntities2023-01-012023-12-31SC521788ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-31SC521788ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-31SC521788ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-31SC521788ns10:FullAccounts2023-01-012023-12-31SC521788ns10:Director22023-01-012023-12-31SC521788ns10:RegisteredOffice2023-01-012023-12-31SC521788ns5:CurrentFinancialInstruments2023-12-31SC521788ns5:CurrentFinancialInstruments2022-12-31SC521788ns5:Non-currentFinancialInstruments2023-12-31SC521788ns5:Non-currentFinancialInstruments2022-12-31SC521788ns5:ShareCapital2023-12-31SC521788ns5:ShareCapital2022-12-31SC521788ns5:RetainedEarningsAccumulatedLosses2023-12-31SC521788ns5:RetainedEarningsAccumulatedLosses2022-12-31SC521788ns5:PlantMachinery2023-01-012023-12-31SC521788ns5:FurnitureFittings2023-01-012023-12-31SC521788ns5:MotorVehicles2023-01-012023-12-31SC521788ns5:LandBuildings2022-12-31SC521788ns5:PlantMachinery2022-12-31SC521788ns5:FurnitureFittings2022-12-31SC521788ns5:MotorVehicles2022-12-31SC521788ns5:LandBuildings2023-01-012023-12-31SC521788ns5:LandBuildings2023-12-31SC521788ns5:PlantMachinery2023-12-31SC521788ns5:FurnitureFittings2023-12-31SC521788ns5:MotorVehicles2023-12-31SC521788ns5:LandBuildings2022-12-31SC521788ns5:PlantMachinery2022-12-31SC521788ns5:FurnitureFittings2022-12-31SC521788ns5:MotorVehicles2022-12-31SC521788ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-31SC521788ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: SC521788 (Scotland)











Unaudited Financial Statements for the Year Ended 31st December 2023

for

Henwood Transport Limited

Henwood Transport Limited (Registered number: SC521788)






Contents of the Financial Statements
for the Year Ended 31st December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


Henwood Transport Limited

Company Information
for the Year Ended 31st December 2023







DIRECTORS: Mrs L A Henderson
N Henderson





REGISTERED OFFICE: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ





REGISTERED NUMBER: SC521788 (Scotland)





ACCOUNTANTS: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ

Henwood Transport Limited (Registered number: SC521788)

Balance Sheet
31st December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 326,956 187,257

CURRENT ASSETS
Debtors 5 182,041 193,799
Cash at bank 147,143 58,142
329,184 251,941
CREDITORS
Amounts falling due within one year 6 (122,779 ) (88,929 )
NET CURRENT ASSETS 206,405 163,012
TOTAL ASSETS LESS CURRENT
LIABILITIES

533,361

350,269

CREDITORS
Amounts falling due after more than one year 7 (65,286 ) (73,170 )

PROVISIONS FOR LIABILITIES (66,061 ) (35,579 )
NET ASSETS 402,014 241,520

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 402,013 241,519
SHAREHOLDERS' FUNDS 402,014 241,520

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17th April 2024 and were signed on its behalf by:





Mrs L A Henderson - Director


Henwood Transport Limited (Registered number: SC521788)

Notes to the Financial Statements
for the Year Ended 31st December 2023

1. STATUTORY INFORMATION

Henwood Transport Limited is a private company, limited by shares , registered in Scotland. 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Henwood Transport Limited (Registered number: SC521788)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
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 Debtors
Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of he business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

Trade Creditors
Trade creditors are obligations o pay for goods or services that have been acquired in the ordinary course of the 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.

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 proceeds, net of transactions costs, and the amount due on redemption recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Provisions and contingencies
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st January 2023 - 229,957 645 14,438 245,040
Additions 62,715 139,976 - - 202,691
Disposals - (19,000 ) - - (19,000 )
At 31st December 2023 62,715 350,933 645 14,438 428,731
DEPRECIATION
At 1st January 2023 - 46,632 138 11,013 57,783
Charge for year - 48,126 76 858 49,060
Eliminated on disposal - (5,068 ) - - (5,068 )
At 31st December 2023 - 89,690 214 11,871 101,775
NET BOOK VALUE
At 31st December 2023 62,715 261,243 431 2,567 326,956
At 31st December 2022 - 183,325 507 3,425 187,257

Henwood Transport Limited (Registered number: SC521788)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 162,544 191,909
Prepayments 19,497 1,890
182,041 193,799

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 35,590 27,490
Trade creditors 13,488 32,777
Tax 54,292 14,598
Social security and other taxes 4,062 -
VAT 15,159 13,876
Directors' current accounts 188 188
122,779 88,929

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 65,286 73,170

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs L A Henderson.