55 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 25,000 25,000 xbrli:pure xbrli:shares iso4217:GBP 01541416 2023-01-01 2023-12-31 01541416 2023-12-31 01541416 2022-12-31 01541416 2022-01-01 2022-12-31 01541416 2022-12-31 01541416 2021-12-31 01541416 core:NetGoodwill 2023-01-01 2023-12-31 01541416 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01541416 core:PlantMachinery 2023-01-01 2023-12-31 01541416 core:FurnitureFittings 2023-01-01 2023-12-31 01541416 core:MotorVehicles 2023-01-01 2023-12-31 01541416 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 01541416 bus:Director1 2023-01-01 2023-12-31 01541416 core:NetGoodwill 2023-12-31 01541416 core:LandBuildings 2022-12-31 01541416 core:LandBuildings 2023-12-31 01541416 core:PlantMachinery 2022-12-31 01541416 core:PlantMachinery 2023-12-31 01541416 core:FurnitureFittings 2022-12-31 01541416 core:FurnitureFittings 2023-12-31 01541416 core:MotorVehicles 2022-12-31 01541416 core:MotorVehicles 2023-12-31 01541416 core:LandBuildings 2023-01-01 2023-12-31 01541416 core:WithinOneYear 2023-12-31 01541416 core:WithinOneYear 2022-12-31 01541416 core:AfterOneYear 2023-12-31 01541416 core:AfterOneYear 2022-12-31 01541416 core:ShareCapital 2023-12-31 01541416 core:ShareCapital 2022-12-31 01541416 core:RetainedEarningsAccumulatedLosses 2023-12-31 01541416 core:RetainedEarningsAccumulatedLosses 2022-12-31 01541416 core:LandBuildings 2022-12-31 01541416 core:PlantMachinery 2022-12-31 01541416 core:FurnitureFittings 2022-12-31 01541416 core:MotorVehicles 2022-12-31 01541416 bus:SmallEntities 2023-01-01 2023-12-31 01541416 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 01541416 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 01541416 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01541416 bus:FullAccounts 2023-01-01 2023-12-31 01541416 bus:OrdinaryShareClass1 2023-12-31 01541416 bus:OrdinaryShareClass1 2022-12-31 01541416 core:ComputerEquipment 2023-01-01 2023-12-31 01541416 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 01541416 core:ComputerEquipment 2022-12-31 01541416 core:ComputerEquipment 2023-12-31 01541416 core:OtherPropertyPlantEquipment 2022-12-31 01541416 core:OtherPropertyPlantEquipment 2023-12-31
COMPANY REGISTRATION NUMBER: 01541416
Egglaroy Ltd Trading as Truckstop Hawkes
Filleted Unaudited Financial Statements
31 December 2023
Egglaroy Ltd Trading as Truckstop Hawkes
Financial Statements
Year ended 31 December 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Egglaroy Ltd Trading as Truckstop Hawkes
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
6
1,524,089
1,419,769
Current assets
Stocks
1,496,632
1,494,550
Debtors
7
1,763,202
1,662,249
Cash at bank and in hand
127,255
192,746
------------
------------
3,387,089
3,349,545
Creditors: amounts falling due within one year
8
2,382,380
2,324,866
------------
------------
Net current assets
1,004,709
1,024,679
------------
------------
Total assets less current liabilities
2,528,798
2,444,448
Creditors: amounts falling due after more than one year
9
809,360
780,968
Provisions
Taxation including deferred tax
95,006
68,443
------------
------------
Net assets
1,624,432
1,595,037
------------
------------
Egglaroy Ltd Trading as Truckstop Hawkes
Statement of Financial Position (continued)
31 December 2023
2023
2022
Note
£
£
£
£
Capital and reserves
Called up share capital
10
100
100
Profit and loss account
1,624,332
1,594,937
------------
------------
Shareholders funds
1,624,432
1,595,037
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 22 July 2024 , and are signed on behalf of the board by:
M G Stiley Director
Company registration number: 01541416
Egglaroy Ltd Trading as Truckstop Hawkes
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 3, Brook Street, Lakeside, Redditch, Worcs, B98 8NG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Revenue recognition Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when goods are physically delivered to the customer. Tax Current tax represents the amount of tax payable or receivable in respect of the taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference. Goodwill Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold Property
-
2% straight line
Plant and Machinery
-
25% reducing balance
Fixtures and Fittings
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Computer Hardware
-
25% reducing balance
Improvements
-
10% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Deferred government grants in respect of capital expenditure are treated as deferred income and are credited to the profit and loss account over the estimated useful life of the assets to which they relate. Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into, either as financial assets, financial liabilities or equity interests. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 55 (2022: 65 ).
5. Intangible assets
Goodwill
£
Cost
At 1 Jan 2023 and 31 Dec 2023
25,000
--------
Amortisation
At 1 Jan 2023 and 31 Dec 2023
25,000
--------
Carrying amount
At 31 Dec 2023
--------
At 31 Dec 2022
--------
6. Tangible assets
At 1 Jan 2023
Additions
Disposals
At 31 Dec 2023
£
£
£
£
Cost
Land and buildings
980,607
980,607
Plant and machinery
103,154
( 90,223)
12,931
Fixtures and fittings
220,822
47,343
( 1,800)
266,365
Motor vehicles
585,864
318,845
( 83,606)
821,103
Computer hardware
60,974
3,690
64,664
Improvements
123,455
123,455
------------
---------
---------
------------
2,074,876
369,878
( 175,629)
2,269,125
------------
---------
---------
------------
At 1 Jan 2023
Charge for the year
Disposals
At 31 Dec 2023
£
£
£
£
Depreciation
Land and buildings
28,119
15,813
43,932
Plant and machinery
62,568
965
( 53,496)
10,037
Fixtures and fittings
141,229
31,481
( 788)
171,922
Motor vehicles
304,170
144,179
( 59,782)
388,567
Computer hardware
33,681
7,746
41,427
Improvements
85,340
3,811
89,151
------------
---------
---------
---------
655,107
203,995
( 114,066)
745,036
------------
---------
---------
---------
At 31 Dec 2023
At 31 Dec 2022
£
£
Carrying amount
Land and buildings
936,675
952,488
Plant and machinery
2,894
40,586
Fixtures and fittings
94,443
79,593
Motor vehicles
432,536
281,694
Computer hardware
23,237
27,293
Improvements
34,304
38,115
------------
------------
1,524,089
1,419,769
------------
------------
7. Debtors
2023
2022
£
£
Trade debtors
1,739,198
1,637,747
Other debtors
24,004
24,502
------------
------------
1,763,202
1,662,249
------------
------------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
25,600
28,800
Trade creditors
1,922,970
1,828,990
Social security and other taxes
169,765
224,132
Other creditors
264,045
242,944
------------
------------
2,382,380
2,324,866
------------
------------
The bank loans and overdrafts of £25,600 (2022 - £28,800) are secured by a fixed and floating charge over the company's assets. Obligations under finance leases and hire purchase contracts totalling £50,993 (2022 - £21,472) are secured on the assets concerned.
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
721,176
742,634
Other creditors
88,184
38,334
---------
---------
809,360
780,968
---------
---------
The bank loan of £721,176 (2022 - £742,634) is secured by a fixed and floating charge over the company's assets. Obligations under finance leases and hire purchase contracts totalling £76,239 (2022 - £22,407) are secured on the assets concerned.
Included within creditors: amounts falling due after more than one year is an amount of £594,776 (2022: £621,934) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
10. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
11. Other financial commitments
Total commitments at the year-end were £ 5,600 (2022 - £ 12,320 ).