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Company No: 12833108 (England and Wales)

SIMON VALENTINE TRANSPORT LTD

Unaudited Financial Statements
For the financial year ended 31 August 2023
Pages for filing with the registrar

SIMON VALENTINE TRANSPORT LTD

Unaudited Financial Statements

For the financial year ended 31 August 2023

Contents

SIMON VALENTINE TRANSPORT LTD

BALANCE SHEET

As at 31 August 2023
SIMON VALENTINE TRANSPORT LTD

BALANCE SHEET (continued)

As at 31 August 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 27,783 32,231
27,783 32,231
Current assets
Debtors 4 7,159 8,537
Cash at bank and in hand 1,214 14,079
8,373 22,616
Creditors: amounts falling due within one year 5 ( 37,177) ( 68,113)
Net current liabilities (28,804) (45,497)
Total assets less current liabilities (1,021) (13,266)
Net liabilities ( 1,021) ( 13,266)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 1,121 ) ( 13,366 )
Total shareholder's deficit ( 1,021) ( 13,266)

For the financial year ending 31 August 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Simon Valentine Transport Ltd (registered number: 12833108) were approved and authorised for issue by the Board of Directors on 08 March 2024. They were signed on its behalf by:

S Valentine
Director
SIMON VALENTINE TRANSPORT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
SIMON VALENTINE TRANSPORT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Simon Valentine Transport Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery Vehicles Computer equipment Total
£ £ £ £
Cost
At 01 September 2022 750 42,162 0 42,912
Additions 0 0 4,135 4,135
At 31 August 2023 750 42,162 4,135 47,047
Accumulated depreciation
At 01 September 2022 141 10,540 0 10,681
Charge for the financial year 152 7,906 525 8,583
At 31 August 2023 293 18,446 525 19,264
Net book value
At 31 August 2023 457 23,716 3,610 27,783
At 31 August 2022 609 31,622 0 32,231

4. Debtors

2023 2022
£ £
Trade debtors 4,529 4,518
Other debtors 2,630 4,019
7,159 8,537

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 1,926 2,617
Other taxation and social security 2,376 10,484
Other creditors 32,875 55,012
37,177 68,113