Registration number:
PJ Gould Transport Limited
for the
Year Ended 31 October 2023
PJ Gould Transport Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
PJ Gould Transport Limited
Company Information
Directors |
Mr KJ Gould Mr PJ Gould |
Company secretary |
Mr KJ Gould |
Registered office |
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Accountants |
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PJ Gould Transport Limited
(Registration number: 04932677)
Balance Sheet as at 31 October 2023
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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PJ Gould Transport Limited
(Registration number: 04932677)
Balance Sheet as at 31 October 2023
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.
Directors' responsibilities:
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The directors acknowledge their 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.
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 directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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PJ Gould Transport Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
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 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.
The presentation currency of the financial statements is Pound Sterling (£). All monetary amounts are rounded to the nearest pound.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the 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.
PJ Gould Transport Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
2 |
Accounting policies (continued) |
Tax
The tax expense for the period comprises 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 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 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.
PJ Gould Transport Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
2 |
Accounting policies (continued) |
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 |
Other property, plant and equipment |
15% Reducing balance |
Furniture, fittings and equipment |
15% Reducing balance, 33% Straight line |
Motor vehicles |
25% Reducing balance |
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 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.
PJ Gould Transport Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Other property, plant and equipment |
Total |
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Cost or valuation |
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At 1 November 2022 |
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At 31 October 2023 |
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Depreciation |
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At 1 November 2022 |
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Charge for the year |
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At 31 October 2023 |
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Carrying amount |
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At 31 October 2023 |
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At 31 October 2022 |
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PJ Gould Transport Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Debtors |
Current |
2023 |
2022 |
Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
( |
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Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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PJ Gould Transport Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Related party transactions |
Transactions with directors |
2023 |
At 1 November 2022 |
Advances to director |
Repayments by director |
At 31 October 2023 |
Mr KJ Gould |
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Directors Loan Account |
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Mr PJ Gould |
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Directors Loan Account |
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2022 |
At 1 November 2021 |
Advances to director |
Repayments by director |
At 31 October 2022 |
Mr KJ Gould |
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Directors Loan Account |
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Mr PJ Gould |
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Directors Loan Account |
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The loan account is provided interest free. No section S455 has been provided as the loan has been repaid within 9 months of the year end.
PJ Gould Transport Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Loans and borrowings |
Non-current loans and borrowings
2023 |
2022 |
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Hire purchase contracts |
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Current loans and borrowings
2023 |
2022 |
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Hire purchase contracts |
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