Registered number
09735421
G & S HAULAGE (HENLOW) LTD
Filleted Accounts
31 August 2023
G & S HAULAGE (HENLOW) LTD
Registered number: 09735421
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 38,403 51,558
Current assets
Debtors 5 40,234 53,061
Cash at bank and in hand 57,042 47,946
97,276 101,007
Creditors: amounts falling due within one year 6 (39,599) (41,182)
Net current assets 57,677 59,825
Total assets less current liabilities 96,080 111,383
Provisions for liabilities (5,531) (7,596)
Net assets 90,549 103,787
Capital and reserves
Called up share capital 100 100
Profit and loss account 90,449 103,687
Shareholders' funds 90,549 103,787
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 J Simmonds
Director
Approved by the board on 26 March 2024
G & S HAULAGE (HENLOW) LTD
Notes to the Accounts
for the year ended 31 August 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant, vehicles and equipment 25% reducing balance basis
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 2 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2022 49,000
At 31 August 2023 49,000
Amortisation
At 1 September 2022 49,000
At 31 August 2023 49,000
Net book value
At 31 August 2023 -
Goodwill has been written off over its estimated economic life of 5 years.
4 Tangible fixed assets
Machinery & office equipment Motor vehicles Total
£ £ £
Cost
At 1 September 2022 4,833 165,099 169,932
Disposals - (1,750) (1,750)
At 31 August 2023 4,833 163,349 168,182
Depreciation
At 1 September 2022 3,783 114,591 118,374
Charge for the year 262 12,538 12,800
On disposals - (1,395) (1,395)
At 31 August 2023 4,045 125,734 129,779
Net book value
At 31 August 2023 788 37,615 38,403
At 31 August 2022 1,050 50,508 51,558
5 Debtors 2023 2022
£ £
Trade debtors 36,194 49,284
Other debtors 4,040 3,777
40,234 53,061
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,970 4,617
Taxation and social security costs 32,176 28,210
Other creditors 5,453 8,355
39,599 41,182
7 Related party transactions
The business has entered into a licence agreement with two of the directors in respect of business use of their home, whereby a fair proportion of household expenses are reimbursed. During the year £1,300 was paid (2022 £1,200) in respect of such services.
8 Other information
G & S HAULAGE (HENLOW) LTD is a private company limited by shares and incorporated in England. Its registered office is:
43b Clifton Road
Henlow
Beds
SG16 6BL
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