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S.A.M.S LIGHT HAULAGE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023






S.A.M.S LIGHT HAULAGE LTD (REGISTERED NUMBER: 07368450)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


S.A.M.S LIGHT HAULAGE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: Mrs S J Smith
M A Smith





REGISTERED OFFICE: 44 Annie Street
Shipley
BD18 2EL





REGISTERED NUMBER: 07368450 (England and Wales)






S.A.M.S LIGHT HAULAGE LTD (REGISTERED NUMBER: 07368450)

BALANCE SHEET
30 SEPTEMBER 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 87,819 105,290

CURRENT ASSETS
Debtors 5 182,394 172,563
Cash at bank 74,882 40,593
257,276 213,156
CREDITORS
Amounts falling due within one year 6 196,753 153,861
NET CURRENT ASSETS 60,523 59,295
TOTAL ASSETS LESS CURRENT LIABILITIES 148,342 164,585

CREDITORS
Amounts falling due after more than one
year

7

(74,021

)

(102,367

)

PROVISIONS FOR LIABILITIES 9 (16,686 ) (19,060 )
NET ASSETS 57,635 43,158

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 57,535 43,058
SHAREHOLDERS' FUNDS 57,635 43,158

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

S.A.M.S LIGHT HAULAGE LTD (REGISTERED NUMBER: 07368450)

BALANCE SHEET - continued
30 SEPTEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





Mrs S J Smith - Director


S.A.M.S LIGHT HAULAGE LTD (REGISTERED NUMBER: 07368450)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

S.A.M.S Light Haulage Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

S.A.M.S LIGHT HAULAGE LTD (REGISTERED NUMBER: 07368450)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 October 2022 553 141,255 1,083 142,891
Additions 4,708 - - 4,708
At 30 September 2023 5,261 141,255 1,083 147,599
DEPRECIATION
At 1 October 2022 138 37,106 357 37,601
Charge for year 1,281 20,541 357 22,179
At 30 September 2023 1,419 57,647 714 59,780
NET BOOK VALUE
At 30 September 2023 3,842 83,608 369 87,819
At 30 September 2022 415 104,149 726 105,290

The net book value of tangible fixed assets includes £ 83,608 (2022 - £ 104,149 ) in respect of assets held under hire purchase contracts.

S.A.M.S LIGHT HAULAGE LTD (REGISTERED NUMBER: 07368450)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 126,977 117,632
Other debtors 55,057 54,802
Prepayments 360 129
182,394 172,563

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 5,554 5,556
Hire purchase contracts (see note 8) 22,791 29,304
Trade creditors 41,062 22,281
Tax 10,715 -
VAT 27,983 22,160
Other creditors 775 419
Directors' current accounts 82,750 71,643
Accrued expenses 5,123 2,498
196,753 153,861

Loans from directors are interest free and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans - 1-2 years 5,556 5,556
Bank loans - 2-5 years 16,667 16,667
Bank loans more 5 yr by instal 9,723 15,278
Hire purchase contracts (see note 8) 42,075 64,866
74,021 102,367

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 9,723 15,278

S.A.M.S LIGHT HAULAGE LTD (REGISTERED NUMBER: 07368450)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.9.23 30.9.22
£    £   
Net obligations repayable:
Within one year 22,791 29,304
Between one and five years 42,075 64,866
64,866 94,170

Non-cancellable operating leases
30.9.23 30.9.22
£    £   
Within one year 9,500 28,500
Between one and five years - 9,500
9,500 38,000

9. PROVISIONS FOR LIABILITIES
30.9.23 30.9.22
£    £   
Deferred tax 16,686 19,060

Deferred
tax
£   
Balance at 1 October 2022 19,060
Accelerated Capital Allowances (2,374 )
Balance at 30 September 2023 16,686

The entire provision for deferred tax relates to accelerated capital allowances.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.23 30.9.22
value: £    £   
100 Ordinary £1 100 100