Loadmasters Limited Filleted Accounts Cover |
Company No. 05080998 | |||||||||
For the year ended | |||||||||
Loadmasters Limited Balance Sheet Registrar |
at | ||||||||||
Company No. | Notes | 2024 | 2023 | |||||||
£ | £ | |||||||||
Fixed assets | ||||||||||
Tangible assets | 4 | |||||||||
Current assets | ||||||||||
Debtors | 5 | |||||||||
Cash at bank and in hand | ||||||||||
Creditors: Amount falling due within one year | 6 | ( | ( | |||||||
Net current assets | ||||||||||
Total assets less current liabilities | ||||||||||
Net assets | ||||||||||
Capital and reserves | ||||||||||
Called up share capital | 9 | |||||||||
Profit and loss account | 10 | |||||||||
Total equity | ||||||||||
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account. | ||||||||||
Approved by the board on 17 July 2024 and signed on its behalf by: | ||||||||||
P.J. Baker | ||||||||||
Director | ||||||||||
17 July 2024 |
Loadmasters Limited Notes to the Accounts Registrar |
for the year ended 31 March 2024 | ||||||||||||||
1 | General information | |||||||||||||
Loadmasters Limited is a private company limited by shares and incorporated in England and Wales. | ||||||||||||||
Its registered number is: 05080998 | ||||||||||||||
Its registered office is: | ||||||||||||||
2 | Accounting policies | |||||||||||||
Turnover | ||||||||||||||
Tangible fixed assets and depreciation | ||||||||||||||
At each balance sheet date, the company reviews the carrying amount 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. | ||||||||||||||
Plant and machinery | ||||||||||||||
Motor vehicles | ||||||||||||||
Furniture, fittings and equipment | ||||||||||||||
Taxation | ||||||||||||||
Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively. | ||||||||||||||
Trade and other debtors | ||||||||||||||
Cash and cash equivalents | ||||||||||||||
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty or notice of not more than 24 hours. | ||||||||||||||
Trade and other creditors | ||||||||||||||
Dividend | ||||||||||||||
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an Annual General Meeting. | ||||||||||||||
Leased assets | ||||||||||||||
term. | ||||||||||||||
Defined contribution pensions | ||||||||||||||
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. | ||||||||||||||
Provisions | ||||||||||||||
Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet. | ||||||||||||||
3 | Employees | |||||||||||||
2024 | 2023 | |||||||||||||
Number | Number | |||||||||||||
The average monthly number of employees (including directors) during the year was: | ||||||||||||||
4 | Tangible fixed assets | |||||||||||||
Plant and machinery | Motor vehicles | Fixtures, fittings and equipment | Total | |||||||||||
£ | £ | £ | £ | |||||||||||
Cost or revaluation | ||||||||||||||
At 1 April 2023 | ||||||||||||||
Additions | ||||||||||||||
Disposals | ( | ( | ||||||||||||
At 31 March 2024 | ||||||||||||||
Depreciation | ||||||||||||||
At 1 April 2023 | ||||||||||||||
Charge for the year | ||||||||||||||
Disposals | ( | ( | ||||||||||||
At 31 March 2024 | ||||||||||||||
Net book values | ||||||||||||||
At 31 March 2024 | ||||||||||||||
At 31 March 2023 | 24,521 | 9,883 | 2,829 | |||||||||||
5 | Debtors | |||||||||||||
2024 | 2023 | |||||||||||||
£ | £ | |||||||||||||
Trade debtors | ||||||||||||||
Deferred tax asset | ||||||||||||||
Loans to directors | ||||||||||||||
Other debtors | ||||||||||||||
Prepayments and accrued income | ||||||||||||||
6 | Creditors: | |||||||||||||
amounts falling due within one year | ||||||||||||||
2024 | 2023 | |||||||||||||
£ | £ | |||||||||||||
Trade creditors | ||||||||||||||
Amounts owed to group undertakings | ||||||||||||||
Taxes and social security | ||||||||||||||
Loans from directors | ||||||||||||||
Accruals and deferred income | ||||||||||||||
7 | Leasing agreements | |||||||||||||
Minimum lease payments under non-cancellable operating leases fall due as follows: | ||||||||||||||
2024 | 2023 | |||||||||||||
£ | £ | |||||||||||||
Within one year | 6,720 | 10,320 | ||||||||||||
Between one and five years | ||||||||||||||
6,720 | 16,340 | |||||||||||||
8 | Pensions | |||||||||||||
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £55,255 (2023 : £35,777) in the year. No contributions were payable at the balance sheet date. | ||||||||||||||
9 | Share Capital | |||||||||||||
Share capital includes following: | ||||||||||||||
2024 | 2023 | |||||||||||||
£ | £ | |||||||||||||
200 ordinary shares of £1 each | 200 | 200 | ||||||||||||
200 | 200 | |||||||||||||
10 | Reserves | |||||||||||||
11 | Related party transactions | |||||||||||||
At the Balance Sheet date the company owed £385 from the directors (2023: the company owed £85 to the directors). | ||||||||||||||