John Sinclair (Haulage) Limited SC115697 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is continues to be road haulage and distribution services Digita Accounts Production Advanced 6.30.9574.0 true true SC115697 2023-04-01 2024-03-31 SC115697 2024-03-31 SC115697 bus:OrdinaryShareClass1 2024-03-31 SC115697 core:CurrentFinancialInstruments 2024-03-31 SC115697 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 SC115697 core:FurnitureFittingsToolsEquipment 2024-03-31 SC115697 core:LandBuildings 2024-03-31 SC115697 core:MotorVehicles 2024-03-31 SC115697 bus:SmallEntities 2023-04-01 2024-03-31 SC115697 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC115697 bus:FullAccounts 2023-04-01 2024-03-31 SC115697 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC115697 bus:RegisteredOffice 2023-04-01 2024-03-31 SC115697 bus:Director1 2023-04-01 2024-03-31 SC115697 bus:Director2 2023-04-01 2024-03-31 SC115697 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 SC115697 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC115697 bus:Agent1 2023-04-01 2024-03-31 SC115697 core:CommercialMotorVehicles 2023-04-01 2024-03-31 SC115697 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 SC115697 core:LandBuildings 2023-04-01 2024-03-31 SC115697 core:MotorVehicles 2023-04-01 2024-03-31 SC115697 countries:Scotland 2023-04-01 2024-03-31 SC115697 2023-03-31 SC115697 core:FurnitureFittingsToolsEquipment 2023-03-31 SC115697 core:LandBuildings 2023-03-31 SC115697 core:MotorVehicles 2023-03-31 SC115697 2022-04-01 2023-03-31 SC115697 2023-03-31 SC115697 bus:OrdinaryShareClass1 2023-03-31 SC115697 core:CurrentFinancialInstruments 2023-03-31 SC115697 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 SC115697 core:FurnitureFittingsToolsEquipment 2023-03-31 SC115697 core:LandBuildings 2023-03-31 SC115697 core:MotorVehicles 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC115697

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John Sinclair (Haulage) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

John Sinclair (Haulage) Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4 to 7

 

John Sinclair (Haulage) Limited

Company Information

Directors

John Sinclair

Helen Jamieson Sinclair

Registered office

1 Eglinton
Kelliebank
Alloa
FK10 1NT

Bankers

Royal Bank of Scotland plc
19 High Street
Alloa
FK10 1JF

Accountants

RGA Scotland Limited
Chartered Accountants
Orchardlea
Callander
FK17 8BG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
John Sinclair (Haulage) Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of John Sinclair (Haulage) Limited for the year ended 31 March 2024 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.
 

This report is made solely to the Board of Directors of John Sinclair (Haulage) Limited , as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of John Sinclair (Haulage) Limited and state those matters that we have agreed to state to the Board of Directors of John Sinclair (Haulage) Limited, as a body, in this report.

This is in accordance with the requirements of such bodies as the ACCA, ICAS and ICAEW, to the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than John Sinclair (Haulage) Limited and its Board of Directors as a body for our work or for this report.
 

It is your duty to ensure that John Sinclair (Haulage) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of John Sinclair (Haulage) Limited. You consider that John Sinclair (Haulage) Limited is exempt from the statutory audit requirement for the year.
 

We have not been instructed to carry out an audit or a review of the accounts of John Sinclair (Haulage) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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....................................................................

RGA Scotland Limited
Chartered Accountants
Orchardlea
Callander
FK17 8BG


 

4 July 2024

 

John Sinclair (Haulage) Limited

(Registration number: SC115697)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

65,200

47,057

Current assets

 

Debtors

6

51,927

61,604

Cash at bank and in hand

 

397,201

460,869

 

449,128

522,473

Creditors: Amounts falling due within one year

7

(145,928)

(131,111)

Net current assets

 

303,200

391,362

Total assets less current liabilities

 

368,400

438,419

Provisions for liabilities

(5,263)

(1,816)

Net assets

 

363,137

436,603

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

363,037

436,503

Shareholders' funds

 

363,137

436,603

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.

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 4 July 2024 and signed on its behalf by:
 

.........................................
John Sinclair
Director

 

John Sinclair (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 Scotland.

The address of its registered office is:
1 Eglinton
Kelliebank
Alloa
FK10 1NT

These financial statements were authorised for issue by the Board on 4 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 current and 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.

 

John Sinclair (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

Fixtures, fittings, equipment

20-50% p.a. reducing balance basis

Commercial vehicles

20-50% p.a. reducing balance basis

Freehold land and buildings

no further reduction deemed necessary

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.

Trade 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.

Trade 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.

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 in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

John Sinclair (Haulage) Limited

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

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

8,481

-

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

98,895

10,034

56,675

165,604

Additions

-

254

26,370

26,624

At 31 March 2024

98,895

10,288

83,045

192,228

Depreciation

At 1 April 2023

61,395

9,969

47,183

118,547

Charge for the year

-

69

8,412

8,481

At 31 March 2024

61,395

10,038

55,595

127,028

Carrying amount

At 31 March 2024

37,500

250

27,450

65,200

At 31 March 2023

37,500

65

9,492

47,057

 

John Sinclair (Haulage) Limited

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

6

Debtors

Current

2024
£

2023
£

Trade debtors

44,032

54,060

Prepayments

7,895

7,544

 

51,927

61,604

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

133,992

91,343

Trade creditors

 

7,289

23,232

Taxation and social security

 

3,000

14,789

Accruals and deferred income

 

1,500

1,600

Other creditors

 

147

147

 

145,928

131,111

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Director current account

133,992

91,343