Derek Bertram Transport Limited SC395016 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is that of freight transport by road. Digita Accounts Production Advanced 6.30.9574.0 true true SC395016 2022-11-01 2023-10-31 SC395016 2023-10-31 SC395016 bus:OrdinaryShareClass1 2023-10-31 SC395016 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-10-31 SC395016 core:CurrentFinancialInstruments 2023-10-31 SC395016 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 SC395016 core:Non-currentFinancialInstruments 2023-10-31 SC395016 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 SC395016 core:MotorVehicles 2023-10-31 SC395016 core:OtherPropertyPlantEquipment 2023-10-31 SC395016 bus:SmallEntities 2022-11-01 2023-10-31 SC395016 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 SC395016 bus:FilletedAccounts 2022-11-01 2023-10-31 SC395016 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 SC395016 bus:RegisteredOffice 2022-11-01 2023-10-31 SC395016 bus:Director1 2022-11-01 2023-10-31 SC395016 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 SC395016 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 SC395016 core:MotorVehicles 2022-11-01 2023-10-31 SC395016 core:OtherPropertyPlantEquipment 2022-11-01 2023-10-31 SC395016 core:PlantMachinery 2022-11-01 2023-10-31 SC395016 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-11-01 2023-10-31 SC395016 countries:Scotland 2022-11-01 2023-10-31 SC395016 2022-10-31 SC395016 core:MotorVehicles 2022-10-31 SC395016 core:OtherPropertyPlantEquipment 2022-10-31 SC395016 2021-11-01 2022-10-31 SC395016 2022-10-31 SC395016 bus:OrdinaryShareClass1 2022-10-31 SC395016 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-10-31 SC395016 core:CurrentFinancialInstruments 2022-10-31 SC395016 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 SC395016 core:Non-currentFinancialInstruments 2022-10-31 SC395016 core:Non-currentFinancialInstruments core:AfterOneYear 2022-10-31 SC395016 core:MotorVehicles 2022-10-31 SC395016 core:OtherPropertyPlantEquipment 2022-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC395016

Derek Bertram Transport Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Derek Bertram Transport Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Derek Bertram Transport Limited

Company Information

Director

Mr D Bertram

Registered office

 

Unit 1
Murraysgate Industrial Estate
Whitburn
West Lothian
EH47 0LE

Accountants

Glen Drummond Ltd
Chartered Accountants
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

 

Derek Bertram Transport Limited

(Registration number: SC395016)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

438,396

410,383

Current assets

 

Debtors

5

3,473,538

3,262,509

Cash at bank and in hand

 

724,378

1,149,960

 

4,197,916

4,412,469

Creditors: Amounts falling due within one year

6

(358,461)

(690,059)

Net current assets

 

3,839,455

3,722,410

Total assets less current liabilities

 

4,277,851

4,132,793

Creditors: Amounts falling due after more than one year

6

-

(150,000)

Provisions for liabilities

(105,143)

(65,645)

Net assets

 

4,172,708

3,917,148

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

4,171,708

3,916,148

Shareholders' funds

 

4,172,708

3,917,148

For the financial year ending 31 October 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.

 

Derek Bertram Transport Limited

(Registration number: SC395016)
Balance Sheet as at 31 October 2023

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.

Approved and authorised by the director on 29 July 2024
 

.........................................
Mr D Bertram
Director

 

Derek Bertram Transport Limited

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

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Unit 1
Murraysgate Industrial Estate
Whitburn
West Lothian
EH47 0LE

These financial statements were authorised for issue by the director on 29 July 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard.

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.

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

Going concern

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

 

Derek Bertram Transport Limited

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

Revenue recognition

Turnover comprises the fair value of the consideration derived from that of freight transport by road.Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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 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.

 

Derek Bertram Transport Limited

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

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.

At the balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £300 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

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

25% Reducing Balance

Plant & Machinery

20% On Cost

 

Derek Bertram Transport Limited

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

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.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

 

Derek Bertram Transport Limited

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

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 44 (2022 - 43).

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2022

1,259,568

3,410

1,262,978

Additions

188,170

-

188,170

Disposals

(30,500)

-

(30,500)

At 31 October 2023

1,417,238

3,410

1,420,648

Depreciation

At 1 November 2022

849,185

3,410

852,595

Charge for the year

146,134

-

146,134

Eliminated on disposal

(16,477)

-

(16,477)

At 31 October 2023

978,842

3,410

982,252

Carrying amount

At 31 October 2023

438,396

-

438,396

At 31 October 2022

410,383

-

410,383

 

Derek Bertram Transport Limited

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

5

Debtors

2023
£

2022
£

Trade debtors

396,948

510,372

Prepayments

170,045

87,374

Other debtors

2,906,545

2,664,763

3,473,538

3,262,509

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

-

125,000

Trade creditors

 

95,456

195,190

Taxation and social security

 

261,595

368,434

Other creditors

 

1,410

1,435

 

358,461

690,059

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

-

150,000

 

Derek Bertram Transport Limited

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

7

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

-

150,000

Current loans and borrowings

2023
£

2022
£

Bank borrowings

-

100,000

Hire purchase contracts

-

25,000

-

125,000

The bank loan is supported by a 100% guarantee from the UK Government.
The finance lease/hire purchase liabilities are secured over the assets concerned.

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       
 

Derek Bertram Transport Limited

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

9

Related party transactions

The company operates a loan account with the director, Mr D Bertram.
During the year, the company advanced loans totalling £169,342 to the director. At the year end, the balance due from the director was £2,058,648 (2022 - £1,889,306). This loan is unsecured, interest free and has no fixed repayment terms.