2022-11-012023-10-312023-10-31false01771866Markham Moor Transport 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Markham Moor Transport Limited

Registered Number
01771866
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

Markham Moor Transport Limited
Company Information
for the year from 1 November 2022 to 31 October 2023

Director

Mr P J Jubb

Registered Address

Cleveland Hill
Tuxford
Newark
NG22 0PH

Registered Number

01771866 (England and Wales)
Markham Moor Transport Limited
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Investment property4435,000535,000
435,000535,000
Current assets
Debtors5746,968500,233
Cash at bank and on hand82,433180,363
829,401680,596
Creditors amounts falling due within one year6(40,112)(5,390)
Net current assets (liabilities)789,289675,206
Total assets less current liabilities1,224,2891,210,206
Provisions for liabilities7(14,786)(16,204)
Net assets1,209,5031,194,002
Capital and reserves
Called up share capital22
Other reserves64,57469,080
Profit and loss account1,144,9271,124,920
Shareholders' funds1,209,5031,194,002
The financial statements were approved and authorised for issue by the Director on 23 July 2024, and are signed on its behalf by:
Mr P J Jubb
Director
Registered Company No. 01771866
Markham Moor Transport Limited
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
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.
Revenue from sale of goods
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.
Current taxation
The tax expense for the period comprises current and 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. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax
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 fixed assets and depreciation
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 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:

Reducing balance (%)
Plant and machinery15
Vehicles25
Investment property
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.
Trade and other 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.
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 and other 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
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. Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
2.Average number of employees

20232022
Average number of employees during the year11
3.Tangible fixed assets
4.Investment property

£
Fair value at 01 November 22535,000
Disposals(100,000)
At 31 October 23435,000
5.Debtors: amounts due within one year

2023

2022

££
Other debtors746,968500,233
Total746,968500,233
6.Creditors: amounts due within one year

2023

2022

££
Taxation and social security38,1122,248
Other creditors-1,142
Accrued liabilities and deferred income2,0002,000
Total40,1125,390
7.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)14,78616,204
Total14,78616,204
8.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
Mr P J Jubb(1,142)107,2560106,114
(1,142)107,2560106,114
Interest has been charged on the loan at the official rate.
9.Related party transactions
During the year an interest free loan of £104,668 was made to Cleveland Investments (CPS) Ltd a company under common control. At the year end the amount owed to Markham Moor Transport Ltd was £604,668 (2022 - £500,000).