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Registration number: 01077882

D.H. Armitage Transport Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

D.H. Armitage Transport Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

D.H. Armitage Transport Limited

Company Information

Director

Mr Joshua Armitage

Registered office

Fairfield
Sheffield Road
Hoyland Common
Barnsley
South Yorkshire
S74 0DP

Accountants

Thorntons Accounting Limited
Chartered Certified Accountants
176-178 Pontefract Road
Cudworth
Barnsley
South Yorkshire
S72 8BE

 

D.H. Armitage Transport Limited

(Registration number: 01077882)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

595,995

622,525

Current assets

 

Stocks

5

5,520

5,520

Debtors

6

140,934

254,287

Cash at bank and in hand

 

(20)

(20)

 

146,434

259,787

Creditors: Amounts falling due within one year

7

(677,479)

(793,486)

Net current liabilities

 

(531,045)

(533,699)

Total assets less current liabilities

 

64,950

88,826

Creditors: Amounts falling due after more than one year

7

(14,806)

(25,190)

Provisions for liabilities

4,080

(9,973)

Net assets

 

54,224

53,663

Capital and reserves

 

Called up share capital

8

1,000

1,000

Revaluation reserve

131,699

131,699

Retained earnings

(78,475)

(79,036)

Shareholders' funds

 

54,224

53,663

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

D.H. Armitage Transport Limited

(Registration number: 01077882)
Balance Sheet as at 31 December 2023

Approved and authorised by the director on 2 April 2024
 

.........................................
Mr Joshua Armitage
Director

 

D.H. Armitage Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Fairfield
Sheffield Road
Hoyland Common
Barnsley
South Yorkshire
S74 0DP

These financial statements were authorised for issue by the director on 2 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

D.H. Armitage Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

15% reducing balance

Plant and machinery

15% reducing balance

Fixtures and fittings

10% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

D.H. Armitage Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 8 (2022 - 8).

 

D.H. Armitage Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Cost or valuation

At 1 January 2023

675,587

42,444

59,997

118,443

Disposals

-

-

-

(38,150)

At 31 December 2023

675,587

42,444

59,997

80,293

Depreciation

At 1 January 2023

145,879

5,280

34,912

87,875

Charge for the year

-

3,716

3,762

4,368

Eliminated on disposal

-

-

-

(23,466)

At 31 December 2023

145,879

8,996

38,674

68,777

Carrying amount

At 31 December 2023

529,708

33,448

21,323

11,516

At 31 December 2022

529,708

37,164

25,085

30,568

Total
£

Cost or valuation

At 1 January 2023

896,471

Disposals

(38,150)

At 31 December 2023

858,321

Depreciation

At 1 January 2023

273,946

Charge for the year

11,846

Eliminated on disposal

(23,466)

At 31 December 2023

262,326

Carrying amount

At 31 December 2023

595,995

At 31 December 2022

622,525

Included within the net book value of land and buildings above is £529,708 (2022 - £529,708) in respect of freehold land and buildings.
 

 

D.H. Armitage Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Stocks

2023
£

2022
£

Other inventories

5,520

5,520

6

Debtors

2023
£

2022
£

Trade debtors

140,079

144,978

Other debtors

-

108,454

Prepayments

855

855

140,934

254,287

 

D.H. Armitage Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

29,267

91,086

Trade creditors

 

82,241

56,858

Taxation and social security

 

39,230

30,341

Accruals and deferred income

 

5,500

5,325

Other creditors

 

521,241

609,876

 

677,479

793,486

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

14,806

25,190

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

14,806

25,190

 

D.H. Armitage Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,140

9,647

Bank overdrafts

19,127

81,439

29,267

91,086

10

Dividends

11

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

33,552

30,814

Contributions paid to money purchase schemes

936

936

34,488

31,750