Registered number
09376853
PPL Transport Ltd
Filleted Accounts
30 April 2023
PPL Transport Ltd
Registered number: 09376853
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 111,889 100,826
Current assets
Debtors 4 246,416 324,390
Cash at bank and in hand 70,189 702
316,605 325,092
Creditors: amounts falling due within one year 5 (270,721) (243,881)
Net current assets 45,884 81,211
Total assets less current liabilities 157,773 182,037
Creditors: amounts falling due after more than one year 6 (23,138) (53,920)
Net assets 134,635 128,117
Capital and reserves
Called up share capital 100 100
Profit and loss account 134,535 128,017
Shareholders' funds 134,635 128,117
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr H S Khera
Director
Approved by the board on 16 January 2024
PPL Transport Ltd
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 10% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 42 11
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 May 2022 125,506
Additions 23,495
At 30 April 2023 149,001
Depreciation
At 1 May 2022 24,680
Charge for the year 12,432
At 30 April 2023 37,112
Net book value
At 30 April 2023 111,889
At 30 April 2022 100,826
4 Debtors 2023 2022
£ £
Trade debtors 241,416 319,390
Other debtors 5,000 5,000
246,416 324,390
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,648
Obligations under finance lease and hire purchase contracts 11,050 22,100
Trade creditors 154,200 136,430
Taxation and social security costs 77,098 31,180
Other creditors 18,373 43,523
270,721 243,881
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 21,296 30,649
Obligations under finance lease and hire purchase contracts 1,842 23,271
23,138 53,920
7 Other information
PPL Transport Ltd is a private company limited by shares and incorporated in England. Its registered office is:
8 Shaw Park Business Village
Shaw Road
Wolverhampton
WV10 9LE
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