A. Duffin Haulage Limited 05187192 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Haulage Digita Accounts Production Advanced 6.30.9574.0 Software true true 05187192 2023-04-01 2024-03-31 05187192 2024-03-31 05187192 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-03-31 05187192 core:RetainedEarningsAccumulatedLosses 2024-03-31 05187192 core:ShareCapital 2024-03-31 05187192 core:CurrentFinancialInstruments 2024-03-31 05187192 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 05187192 core:Non-currentFinancialInstruments 2024-03-31 05187192 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 05187192 core:Goodwill 2024-03-31 05187192 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 05187192 core:PlantMachinery 2024-03-31 05187192 bus:SmallEntities 2023-04-01 2024-03-31 05187192 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05187192 bus:FullAccounts 2023-04-01 2024-03-31 05187192 bus:RegisteredOffice 2023-04-01 2024-03-31 05187192 bus:CompanySecretary1 2023-04-01 2024-03-31 05187192 bus:Director1 2023-04-01 2024-03-31 05187192 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-04-01 2024-03-31 05187192 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05187192 core:Goodwill 2023-04-01 2024-03-31 05187192 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05187192 core:PlantMachinery 2023-04-01 2024-03-31 05187192 countries:AllCountries 2023-04-01 2024-03-31 05187192 2023-03-31 05187192 core:Goodwill 2023-03-31 05187192 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 05187192 core:PlantMachinery 2023-03-31 05187192 2022-04-01 2023-03-31 05187192 2023-03-31 05187192 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-03-31 05187192 core:RetainedEarningsAccumulatedLosses 2023-03-31 05187192 core:ShareCapital 2023-03-31 05187192 core:CurrentFinancialInstruments 2023-03-31 05187192 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 05187192 core:Non-currentFinancialInstruments 2023-03-31 05187192 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 05187192 core:Goodwill 2023-03-31 05187192 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 05187192 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Filleted

Registration number: 05187192

A. Duffin Haulage Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

A. Duffin Haulage Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 9

 

A. Duffin Haulage Limited

Company Information

Director

Mr James Andrew Duffin

Company secretary

Mrs Julie Ann Duffin

Registered office

44 Brynmawr Avenue
Ammanford
SA18 2DA

 

A. Duffin Haulage Limited

(Registration number: 05187192)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

15,000

15,000

Tangible assets

6

1,853,652

1,862,608

 

1,868,652

1,877,608

Current assets

 

Debtors

7

298,144

294,495

Cash at bank and in hand

 

36,717

47,345

 

334,861

341,840

Creditors: Amounts falling due within one year

8

(808,568)

(538,300)

Net current liabilities

 

(473,707)

(196,460)

Total assets less current liabilities

 

1,394,945

1,681,148

Creditors: Amounts falling due after more than one year

8

(418,287)

(615,794)

Provisions for liabilities

(305,653)

(303,505)

Net assets

 

671,005

761,849

Capital and reserves

 

Called up share capital

6

6

Profit and loss account

670,999

761,843

Total equity

 

671,005

761,849

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 and the option not to file the Profit and Loss Account has been taken.

 

A. Duffin Haulage Limited

(Registration number: 05187192)
Balance Sheet as at 31 March 2024

Approved and authorised by the director on 26 July 2024
 

.........................................
Mr James Andrew Duffin
Director

   
     
 

A. Duffin Haulage Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
44 Brynmawr Avenue
Ammanford
SA18 2DA

These financial statements were authorised for issue by the director on 26 July 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

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.

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.

 

A. Duffin Haulage Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

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.

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

Plant and machinery

15% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

A. Duffin Haulage Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 27 (2023 - 17).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

340,315

322,089

 

A. Duffin Haulage Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

15,000

15,000

At 31 March 2024

15,000

15,000

Amortisation

Carrying amount

At 31 March 2024

15,000

15,000

At 31 March 2023

15,000

15,000

Revalued assets for the year ended 31 March 2023

6

Tangible assets

Land and buildings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

35,384

2,667,357

2,702,741

Additions

-

526,387

526,387

Disposals

-

(373,612)

(373,612)

At 31 March 2024

35,384

2,820,132

2,855,516

Depreciation

At 1 April 2023

-

840,133

840,133

Charge for the year

-

340,315

340,315

Eliminated on disposal

-

(178,584)

(178,584)

At 31 March 2024

-

1,001,864

1,001,864

Carrying amount

At 31 March 2024

35,384

1,818,268

1,853,652

At 31 March 2023

35,384

1,827,224

1,862,608

Included within the net book value of land and buildings above is £35,384 (2023 - £35,384) in respect of freehold land and buildings.
 

 

A. Duffin Haulage Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

7

Debtors

2024
£

2023
£

Trade debtors

264,355

250,249

Other debtors

33,789

44,246

298,144

294,495

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

10

603,216

467,746

Trade creditors

 

114,269

63,440

Taxation and social security

 

85,064

14,904

Outstanding defined contribution pension costs

 

-

(11,695)

Other creditors

 

6,019

3,905

 

808,568

538,300

Due after one year

 

Loans and borrowings

10

418,287

615,794

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

418,287

615,794

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

6

6

6

6

         
 

A. Duffin Haulage Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

HP and finance lease liabilities

318,287

615,794

Other borrowings

100,000

-

418,287

615,794

2024
£

2023
£

Current loans and borrowings

HP and finance lease liabilities

603,216

467,746