Company Registration Number 10548006
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HORSLEY BULK TRANSPORT LIMITED
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UNAUDITED
FINANCIAL STATEMENTS
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HORSLEY BULK TRANSPORT LIMITED
REGISTERED NUMBER: 10548006
BALANCE SHEET
AS AT 31 MARCH 2023
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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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 statement of income and retained earnings 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:
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M J Ward
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The notes on pages 2 to 7 form part of these financial statements.
Page 1
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HORSLEY BULK TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Horsley Bulk Transport Limited is a private company, limited by shares, registered in England an Wales. The company's registered number and registered office address can be found on the company information page.
2.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 the provisions of Section 1A "Small Entities" of 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.
There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
The directors have assessed the ongoing performance of the business and considered forecasts beyond 12 months from the date of these financial statements. The directors conclude that the business can continue to pay its liabilities as they fall due, and as such the accounts have been prepared on a going concern basis.
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
All transactions entered into with companies under common control were concluded under normal market conditions, therefore no further disclosure is necessary in accordance with FRS102 section 1A.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover is recognised when the service has been provided to the customer.
Goodwill, being the amount paid in connection with the acquisition of the business in 2017, has been amortised evenly over its useful life of five years.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Tangible fixed assets are measured at cost less accumulated depreciation and impairment.
Page 2
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HORSLEY BULK TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
2.Accounting policies (continued)
Revenue based grants are credited to the profit and loss in the period in which they relate.
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.
Page 3
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HORSLEY BULK TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
2.Accounting policies (continued)
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 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 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.
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The average number of employees during the year was 7 (2022 - 7).
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Page 4
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HORSLEY BULK TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Page 5
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HORSLEY BULK TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
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Amounts owed by group undertakings
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Prepayments and accrued income
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Amounts owed by group undertakings are interest free and repayable on demand.
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Amounts owed to group undertakings are interest free and repayable on demand.
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Allotted, called up and fully paid
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2 (2022 - 2) Ordinary shares of £1.00 each
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The Company has an unlimited multilateral guarantee dated 05 April 2018 given by Bulk Logistics Group Ltd, J. & J. Ward Limited, D H Pearson Limited, Hare Bulk Haulage Limited and Horsley Bulk Transport Limited covering all of these companies banking facilities.
On 26 May 2020 a company guarantee was given by J. & J. Ward Limited, Hare Bulk Haulage Limited and Horsley Bulk Transport Limited supported by an all assets debenture.
No liability is expected to arise in relation to these guarantees as at the year end the group position was not overdrawn.
Page 6
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HORSLEY BULK TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
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Related party transactions
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During the period the Company incurred expenditure of £192,820 (2022: £142,544) from a company under common control. At the reporting date amounts of £149,277 (2022: £33,467) were due to this related party. Revenue of £98,581 (2022: £47,434) was incurred during the period with this related party. At the reporting date amounts of £43,992 (2022: £28,423) were due from this related party.
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The Company is a wholly owned subsidiary of Bulk Logistics Group Ltd, a company registered in England and Wales, for which group accounts are prepared. The registered office is: The Garage, Patrick Brompton, Bedale, North Yorkshire, DL8 1JP.
The auditor's report on the financial statements for the year ended 31 March 2023 was unqualified.
The audit report was signed on 22 December 2023 by Steven Preston (Senior Statutory Auditor) on behalf of Armstrong Watson Audit Limited.
Page 7
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