IRIS Accounts Production v23.3.1.45 07584866 Board of Directors 1.6.22 31.5.23 31.5.23 false true false false true false Ordinary Shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh075848662022-05-31075848662023-05-31075848662022-06-012023-05-31075848662021-05-31075848662021-06-012022-05-31075848662022-05-3107584866ns10:Originalns15:EnglandWales2022-06-012023-05-3107584866ns14:PoundSterlingns10:Original2022-06-012023-05-3107584866ns10:Originalns10:Director12022-06-012023-05-3107584866ns10:Original2022-06-012023-05-3107584866ns10:Original2023-05-3107584866ns10:Originalns10:PrivateLimitedCompanyLtd2022-06-012023-05-3107584866ns10:Originalns10:SmallEntities2022-06-012023-05-3107584866ns10:Originalns10:AuditExempt-NoAccountantsReport2022-06-012023-05-3107584866ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-3107584866ns10:SmallCompaniesRegimeForAccountsns10:Original2022-06-012023-05-3107584866ns10:Originalns10:FullAccounts2022-06-012023-05-3107584866ns10:Originalns10:OrdinaryShareClass12022-06-012023-05-3107584866ns10:Originalns10:Director22022-06-012023-05-3107584866ns10:Originalns10:RegisteredOffice2022-06-012023-05-3107584866ns10:Original2022-05-3107584866ns10:Originalns5:CurrentFinancialInstruments2023-05-3107584866ns10:Originalns5:CurrentFinancialInstruments2022-05-3107584866ns10:Originalns5:Non-currentFinancialInstruments2023-05-3107584866ns10:Originalns5:Non-currentFinancialInstruments2022-05-3107584866ns5:ShareCapitalns10:Original2023-05-3107584866ns5:ShareCapitalns10:Original2022-05-3107584866ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-05-3107584866ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-3107584866ns10:Originalns5:MotorVehicles2022-06-012023-05-3107584866ns10:Originalns5:ComputerEquipment2022-06-012023-05-3107584866ns10:Original2021-06-012022-05-3107584866ns10:Originalns5:MotorVehicles2022-05-3107584866ns10:Originalns5:ComputerEquipment2022-05-3107584866ns10:Original2022-05-3107584866ns10:Originalns5:MotorVehicles2023-05-3107584866ns10:Originalns5:ComputerEquipment2023-05-3107584866ns10:Originalns5:MotorVehicles2022-05-3107584866ns10:Originalns5:ComputerEquipment2022-05-3107584866ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-05-3107584866ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-05-3107584866ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-06-012023-05-3107584866ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-05-3107584866ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3107584866ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-05-3107584866ns10:Originalns5:CurrentFinancialInstrumentsns5:FinanceLeasesns5:WithinOneYear2023-05-3107584866ns10:Originalns5:CurrentFinancialInstrumentsns5:FinanceLeasesns5:WithinOneYear2022-05-3107584866ns10:Originalns5:WithinOneYear2023-05-3107584866ns10:Originalns5:WithinOneYear2022-05-3107584866ns5:BetweenOneFiveYearsns10:Original2023-05-3107584866ns5:BetweenOneFiveYearsns10:Original2022-05-3107584866ns10:Originalns5:AllPeriods2023-05-3107584866ns10:Originalns5:AllPeriods2022-05-3107584866ns10:Originalns5:DeferredTaxation2022-06-012023-05-3107584866ns10:Originalns5:DeferredTaxation2023-05-3107584866ns10:Originalns10:OrdinaryShareClass12023-05-3107584866ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-3107584866ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-012023-05-31
REGISTERED NUMBER: 07584866 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2023

FOR

HALEY BROTHERS TRANSPORT LIMITED

HALEY BROTHERS TRANSPORT LIMITED (REGISTERED NUMBER: 07584866)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HALEY BROTHERS TRANSPORT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2023







DIRECTORS: N J Haley
N I Haley





REGISTERED OFFICE: 1 Croston Lane
Charnock Richard
Chorley
Lancashire
PR7 5HJ





REGISTERED NUMBER: 07584866 (England and Wales)





ACCOUNTANTS: SBCA Chartered Accountants
17 Moor Park Avenue
Preston
Lancashire
PR1 6AS

HALEY BROTHERS TRANSPORT LIMITED (REGISTERED NUMBER: 07584866)

BALANCE SHEET
31ST MAY 2023

31.5.23 31.5.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 19,853 12,500

CURRENT ASSETS
Debtors 5 170,784 89,847
Cash at bank 47,498 17,377
218,282 107,224
CREDITORS
Amounts falling due within one year 6 (297,001 ) (315,553 )
NET CURRENT LIABILITIES (78,719 ) (208,329 )
TOTAL ASSETS LESS CURRENT LIABILITIES (58,866 ) (195,829 )

CREDITORS
Amounts falling due after more than
one year

7

(35,491

)

(41,406

)
NET LIABILITIES (94,357 ) (237,235 )

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 11 (94,359 ) (237,237 )
SHAREHOLDERS' FUNDS (94,357 ) (237,235 )

HALEY BROTHERS TRANSPORT LIMITED (REGISTERED NUMBER: 07584866)

BALANCE SHEET - continued
31ST MAY 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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 5th February 2024 and were signed on its behalf by:





N J Haley - Director


HALEY BROTHERS TRANSPORT LIMITED (REGISTERED NUMBER: 07584866)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023


1. STATUTORY INFORMATION

Haley Brothers Transport Limited is a private company, limited by shares , registered in England and Wales. 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.

Going Concern
The accounts have been prepared on a going concern basis as the Directors have confirmed that they will continue to support the company to enable it to meet its obligations as they fall due.

The company therefore continues to adopt the going concern basis in preparing its financial
statements.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

HALEY BROTHERS TRANSPORT LIMITED (REGISTERED NUMBER: 07584866)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Basic financial assets:
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future cash flows discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities:
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities:
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future cash flows discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if the payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

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.


HALEY BROTHERS TRANSPORT LIMITED (REGISTERED NUMBER: 07584866)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023


2. 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

HALEY BROTHERS TRANSPORT LIMITED (REGISTERED NUMBER: 07584866)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023


4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st June 2022 115,000 - 115,000
Additions 21,300 470 21,770
Disposals (70,000 ) - (70,000 )
At 31st May 2023 66,300 470 66,770
DEPRECIATION
At 1st June 2022 102,500 - 102,500
Charge for year 14,319 98 14,417
Eliminated on disposal (70,000 ) - (70,000 )
At 31st May 2023 46,819 98 46,917
NET BOOK VALUE
At 31st May 2023 19,481 372 19,853
At 31st May 2022 12,500 - 12,500

Fixed assets, included in the above, which are held under finance leases are as follows:
Motor
vehicles
£   
COST
At 1st June 2022 70,000
Transfer to ownership (70,000 )
At 31st May 2023 -
DEPRECIATION
At 1st June 2022 57,500
Charge for year 12,500
Transfer to ownership (70,000 )
At 31st May 2023 -
NET BOOK VALUE
At 31st May 2023 -
At 31st May 2022 12,500

HALEY BROTHERS TRANSPORT LIMITED (REGISTERED NUMBER: 07584866)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 142,989 82,072
Other debtors 27,795 7,775
170,784 89,847

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 5,915 5,915
Finance leases (see note 8) - 9,062
Trade creditors 74,614 70,053
Taxation and social security 35,436 58,935
Other creditors 181,036 171,588
297,001 315,553

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans 35,491 41,406

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
31.5.23 31.5.22
£    £   
Net obligations repayable:
Within one year - 9,062

Non-cancellable operating leases
31.5.23 31.5.22
£    £   
Within one year 20,559 34,121
Between one and five years - 20,559
20,559 54,680

HALEY BROTHERS TRANSPORT LIMITED (REGISTERED NUMBER: 07584866)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023


9. DEFERRED TAX
£   
Charge to Statement of Income and Retained Earnings during
year

3,772
Tax Losses (23,014 )
Balance at 31st May 2023 (19,242 )

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
2 Ordinary Shares £1 2 2

11. RESERVES
Retained
earnings
£   

At 1st June 2022 (237,237 )
Profit for the year 142,878
At 31st May 2023 (94,359 )