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REGISTERED NUMBER: SC030188 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

HAYTON COULTHARD FREIGHT FORWARDING
LIMITED

HAYTON COULTHARD FREIGHT FORWARDING
LIMITED (REGISTERED NUMBER: SC030188)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HAYTON COULTHARD FREIGHT FORWARDING
LIMITED

COMPANY INFORMATION
for the year ended 31 July 2023







DIRECTORS: M J Coulthard
D J Coulthard





SECRETARY: M J Coulthard





REGISTERED OFFICE: The Garage, Twynholm
By Castle Douglas
Dumfries & Galloway
DG6 4NX





REGISTERED NUMBER: SC030188 (Scotland)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Q Court
3 Quality Street
Edinburgh
EH4 5BP

HAYTON COULTHARD FREIGHT FORWARDING
LIMITED (REGISTERED NUMBER: SC030188)

BALANCE SHEET
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 529,515 351,332
Investments 5 500,239 500,239
1,029,754 851,571

CURRENT ASSETS
Debtors 6 27,653 21,691
Cash at bank 331,910 330,567
359,563 352,258
CREDITORS
Amounts falling due within one year 7 87,784 144,383
NET CURRENT ASSETS 271,779 207,875
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,301,533

1,059,446

CREDITORS
Amounts falling due after more than one
year

8

9,624

20,124
NET ASSETS 1,291,909 1,039,322

CAPITAL AND RESERVES
Called up share capital 17,249 17,249
Retained earnings 1,274,660 1,022,073
1,291,909 1,039,322

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

HAYTON COULTHARD FREIGHT FORWARDING
LIMITED (REGISTERED NUMBER: SC030188)

BALANCE SHEET - continued
31 July 2023


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 2 February 2024 and were signed on its behalf by:





D J Coulthard - Director


HAYTON COULTHARD FREIGHT FORWARDING
LIMITED (REGISTERED NUMBER: SC030188)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 July 2023

1. STATUTORY INFORMATION

Hayton Coulthard Freight Forwarding 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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, relating to haulage services provided, 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 the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Heritable property - 2% per annum on cost
Improvements to property - 2% per annum on cost
Plant and machinery - 25% per annum reducing balance
Motor vehicles - 25% per annum reducing balance

The carrying value of tangible fixed assets are reviewed for impairment on an annual basis.

INVESTMENTS IN ASSOCIATES
Investments in associate undertakings are recognised at cost.

The carrying values of investments in associates are reviewed for impairment on an annual basis.

HAYTON COULTHARD FREIGHT FORWARDING
LIMITED (REGISTERED NUMBER: SC030188)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023

2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

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
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.

HAYTON COULTHARD FREIGHT FORWARDING
LIMITED (REGISTERED NUMBER: SC030188)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023

2. ACCOUNTING POLICIES - continued

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 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Heritable to Plant and Motor
property property machinery vehicles Totals
£    £    £    £    £   
COST
At 1 August 2022 329,906 22,986 164,571 65,945 583,408
Additions - - 85,753 - 85,753
At 31 July 2023 329,906 22,986 250,324 65,945 669,161
DEPRECIATION
At 1 August 2022 141,887 4,691 82,743 2,755 232,076
Charge for year - 460 33,199 15,798 49,457
Charge written back (141,887 ) - - - (141,887 )
At 31 July 2023 - 5,151 115,942 18,553 139,646
NET BOOK VALUE
At 31 July 2023 329,906 17,835 134,382 47,392 529,515
At 31 July 2022 188,019 18,295 81,828 63,190 351,332

Heritable Property depreciation of £141,887 has been reversed during the year following a reassessment of the residual value of the underlying assets.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 August 2022
and 31 July 2023 65,945
DEPRECIATION
At 1 August 2022 2,755
Charge for year 15,798
At 31 July 2023 18,553
NET BOOK VALUE
At 31 July 2023 47,392
At 31 July 2022 63,190

HAYTON COULTHARD FREIGHT FORWARDING
LIMITED (REGISTERED NUMBER: SC030188)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023

5. FIXED ASSET INVESTMENTS

2023 2022
£    £   
Participating interests 500,000 500,000
Other investments not loans 239 239
500,239 500,239

Additional information is as follows:
Interest
in
associate
£   
COST
At 1 August 2022
and 31 July 2023 500,000
NET BOOK VALUE
At 31 July 2023 500,000
At 31 July 2022 500,000

Investments (neither listed nor unlisted) were as follows:
2023 2022
£    £   
Other investments 239 239

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 17,156 11,561
Other debtors 10,497 10,130
27,653 21,691

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 10,499 10,499
Trade creditors 13,631 3,056
Taxation and social security 351 293
Other creditors 63,303 130,535
87,784 144,383

HAYTON COULTHARD FREIGHT FORWARDING
LIMITED (REGISTERED NUMBER: SC030188)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 9,624 20,124

9. RELATED PARTY DISCLOSURES

During the year, the company received income totalling £31,377 (2022 - £34,940) from an associated company. During the year, dividends totalling £360,008 (2022 - £242,225) were also received from the same associated company.

Included within 'Other creditors' is an amount of £58,828 (2022 - £126,909) due from the company to the directors. This loans are interest free and repayable on demand.

10. POST BALANCE SHEET EVENTS

Subsequent to the year end, an exercise was undertaken to reclassify the ordinary share capital of the company into different classes of share.