REPORT OF THE DIRECTORS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2023 |
FOR |
EREWASH COMMERCIALS LIMITED |
REPORT OF THE DIRECTORS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2023 |
FOR |
EREWASH COMMERCIALS LIMITED |
EREWASH COMMERCIALS LIMITED (REGISTERED NUMBER: 01810346) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 April 2023 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 4 |
Chartered Certified Accountants' Report | 8 |
EREWASH COMMERCIALS LIMITED |
COMPANY INFORMATION |
for the year ended 30 April 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
70-72 Nottingham Road |
Mansfield |
Nottinghamshire |
NG18 1BN |
EREWASH COMMERCIALS LIMITED (REGISTERED NUMBER: 01810346) |
REPORT OF THE DIRECTORS |
for the year ended 30 April 2023 |
The directors present their report with the financial statements of the company for the year ended 30 April 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of hauliers. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 May 2022 to the date of this report. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
EREWASH COMMERCIALS LIMITED (REGISTERED NUMBER: 01810346) |
BALANCE SHEET |
30 April 2023 |
30.4.23 | 30.4.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
EREWASH COMMERCIALS LIMITED (REGISTERED NUMBER: 01810346) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 April 2023 |
1. | STATUTORY INFORMATION |
Erewash Commercials Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. |
Sale of goods |
Turnover from the sale of goods is recognised when; |
- the significant risks and rewards of ownership of the goods has transferred 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 economic benefits associated with the transaction will flow to the company |
- the costs incurred or to be incurred in respect of the transaction can be measured reliably |
Rendering of services |
Turnover from a contract to provide services is recognised in the period by reference to the stage of completion of the contract when all of the following conditions are satisfied; |
- the amount of turnover can be measured reliably |
- it is probable that the economic benefits associated with the services will flow to the company |
- the stage of completion of the contract at the reporting date can be measured reliably |
- the costs incurred and the costs to complete the contract can be measured reliably |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
EREWASH COMMERCIALS LIMITED (REGISTERED NUMBER: 01810346) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 April 2023 |
3. | ACCOUNTING POLICIES - continued |
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 |
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. |
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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 May 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 April 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
EREWASH COMMERCIALS LIMITED (REGISTERED NUMBER: 01810346) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 April 2023 |
5. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
At 1 May 2022 |
Additions |
Transfer to ownership | (738,291 | ) |
At 30 April 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for year |
Transfer to ownership | (465,927 | ) |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Trade debtors |
Amounts owed by associates |
Directors' current accounts | 3,038 | 156,491 |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Hire purchase contracts (see note 9) |
Trade creditors |
Tax | ( |
) |
Social security and other taxes |
VAT | 64,231 | 70,285 |
Other creditors |
Directors' current accounts | 117 | - |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Hire purchase contracts (see note 9) |
EREWASH COMMERCIALS LIMITED (REGISTERED NUMBER: 01810346) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 April 2023 |
9. | LEASING AGREEMENTS |
Minimum lease payments under hire purchase fall due as follows: |
30.4.23 | 30.4.22 |
£ | £ |
Gross obligations repayable: |
Within one year |
Between one and five years |
Finance charges repayable: |
Within one year |
Between one and five years |
Net obligations repayable: |
Within one year |
Between one and five years |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.4.23 | 30.4.22 |
£ | £ |
Hire purchase contracts | 432,475 | 600,067 |
11. | PROVISIONS FOR LIABILITIES |
30.4.23 | 30.4.22 |
£ | £ |
Deferred tax | 242,675 | 220,082 |
Deferred |
tax |
£ |
Balance at 1 May 2022 |
Provided during year |
Balance at 30 April 2023 |
CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
EREWASH COMMERCIALS LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Erewash Commercials Limited for the year ended 30 April 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
This report is made solely to the Board of Directors of Erewash Commercials Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Erewash Commercials Limited and state those matters that we have agreed to state to the Board of Directors of Erewash Commercials Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Erewash Commercials Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Erewash Commercials Limited. You consider that Erewash Commercials Limited 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 financial statements of Erewash Commercials Limited. 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 financial statements. |
Chartered Certified Accountants |
70-72 Nottingham Road |
Mansfield |
Nottinghamshire |
NG18 1BN |