Loadmasters Limited Filleted Accounts Cover
Loadmasters Limited
Company No. 05080998
Information for Filing with The Registrar
For the year ended
31 March 2024
Loadmasters Limited Balance Sheet Registrar
at
31 March 2024
Company No.
05080998
Notes
2024
2023
£
£
Fixed assets
Tangible assets
4
59,19537,233
59,19537,233
Current assets
Debtors
5
162,341161,515
Cash at bank and in hand
127,957102,040
290,298263,555
Creditors: Amount falling due within one year
6
(105,527)
(100,369)
Net current assets
184,771163,186
Total assets less current liabilities
243,966200,419
Net assets
243,966200,419
Capital and reserves
Called up share capital
9
200200
Profit and loss account
10
243,766200,219
Total equity
243,966200,419
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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:
4 Weyside Park
Newman Lane
Alton
Hampshire
GU34 2PJ
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The functional and presentational currency of the company is Sterling. The accounts are rounded to thenearest pound.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, adjusted for deferred income, excluding discounts, rebates, value added tax and other sales taxes. Revenue is recognised in the month in which the right to consideration arises.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

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.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Plant and machinery
20% Straight Line
Motor vehicles
25% Straight Line
Furniture, fittings and equipment
20% Straight Line
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
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
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
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease
term.
Defined contribution pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
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 made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

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:
78
4
Tangible fixed assets
Plant and machinery
Motor vehicles
Fixtures, fittings and equipment
Total
£
£
£
£
Cost or revaluation
At 1 April 2023
104,27952,4837,255164,017
Additions
14,50338,628-53,131
Disposals
-
(29,153)
-
(29,153)
At 31 March 2024
118,78261,9587,255187,995
Depreciation
At 1 April 2023
79,75842,6004,426126,784
Charge for the year
13,34016,6651,16431,169
Disposals
-
(29,153)
-
(29,153)
At 31 March 2024
93,09830,1125,590128,800
Net book values
At 31 March 2024
25,68431,8461,66559,195
At 31 March 2023
24,521
9,883
2,829
37,233
5
Debtors
2024
2023
£
£
Trade debtors
122,754130,854
Deferred tax asset
5,6084,455
Loans to directors
385-
Other debtors
8,850100
Prepayments and accrued income
24,74426,106
162,341161,515
6
Creditors:
amounts falling due within one year
2024
2023
£
£
Trade creditors
29,01030,791
Amounts owed to group undertakings
18,825
18,825
Taxes and social security
55,442
48,418
Loans from directors
-85
Accruals and deferred income
2,2502,250
105,527100,369
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
-6,020
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
Profit and loss account - includes all current and prior period retained profits and losses.
11
Related party transactions
At the Balance Sheet date the company owed £385 from the directors (2023: the company owed £85 to the directors).
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