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Registration number: 04932677

PJ Gould Transport Limited

Unaudited Financial Statements

for the Year Ended 31 October 2023

 

PJ Gould Transport Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

PJ Gould Transport Limited

Company Information

Directors

Mr KJ Gould

Mr PJ Gould

Company secretary

Mr KJ Gould

Registered office

34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

Accountants

Four Fifty Partnership
Chartered Accountants
34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

 

PJ Gould Transport Limited

(Registration number: 04932677)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

39,604

52,194

Current assets

 

Debtors

5

35,985

32,005

Cash at bank and in hand

 

183,862

258,330

 

219,847

290,335

Creditors: Amounts falling due within one year

6

(36,123)

(38,123)

Net current assets

 

183,724

252,212

Total assets less current liabilities

 

223,328

304,406

Creditors: Amounts falling due after more than one year

6

-

(9,154)

Provisions for liabilities

(7,525)

(9,916)

Net assets

 

215,803

285,336

Capital and reserves

 

Called up share capital

100

100

Retained earnings

215,703

285,236

Shareholders' funds

 

215,803

285,336

 

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:

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 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 Board on 31 July 2024 and signed on its behalf by:
 

.........................................
Mr PJ Gould
Director

 

PJ Gould 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 England and Wales.

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 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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 0).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 November 2022

19,857

231,136

47,369

298,362

At 31 October 2023

19,857

231,136

47,369

298,362

Depreciation

At 1 November 2022

17,219

186,974

41,974

246,167

Charge for the year

742

11,040

809

12,591

At 31 October 2023

17,961

198,014

42,783

258,758

Carrying amount

At 31 October 2023

1,896

33,122

4,586

39,604

At 31 October 2022

2,638

44,161

5,395

52,194

 

PJ Gould Transport Limited

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

5

Debtors

Current

2023
£

2022
£

Trade debtors

13,049

15,132

Prepayments

4,115

3,832

Other debtors

18,821

13,041

 

35,985

32,005

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

9,154

9,904

Trade creditors

 

15,188

19,439

Taxation and social security

 

4,240

3,717

Accruals and deferred income

 

8,335

3,058

Other creditors

 

(794)

2,005

 

36,123

38,123

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

-

9,154

 

PJ Gould Transport Limited

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

7

Related party transactions

Transactions with directors

2023

At 1 November 2022
£

Advances to director
£

Repayments by director
£

At 31 October 2023
£

Mr KJ Gould

Directors Loan Account

(2,005)

8,000

(6,000)

(5)

         
       

Mr PJ Gould

Directors Loan Account

2,963

18,000

(9,000)

11,963

         
       

 

2022

At 1 November 2021
£

Advances to director
£

Repayments by director
£

At 31 October 2022
£

Mr KJ Gould

Directors Loan Account

(4,964)

12,660

(9,700)

(2,005)

         
       

Mr PJ Gould

Directors Loan Account

(487)

18,000

(14,550)

2,963

         
       

 

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

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Hire purchase contracts

-

9,154

Current loans and borrowings

2023
£

2022
£

Hire purchase contracts

9,154

9,904