IRIS Accounts Production v24.2.0.383 03663911 director 1.4.23 31.3.24 31.3.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh036639112023-03-31036639112024-03-31036639112023-04-012024-03-31036639112022-03-31036639112022-04-012023-03-31036639112023-03-3103663911ns15:EnglandWales2023-04-012024-03-3103663911ns14:PoundSterling2023-04-012024-03-3103663911ns10:Director12023-04-012024-03-3103663911ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3103663911ns10:SmallEntities2023-04-012024-03-3103663911ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3103663911ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3103663911ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3103663911ns10:FullAccounts2023-04-012024-03-310366391112023-04-012024-03-3103663911ns10:OrdinaryShareClass12023-04-012024-03-3103663911ns10:RegisteredOffice2023-04-012024-03-3103663911ns5:CurrentFinancialInstruments2024-03-3103663911ns5:CurrentFinancialInstruments2023-03-3103663911ns5:Non-currentFinancialInstruments2024-03-3103663911ns5:Non-currentFinancialInstruments2023-03-3103663911ns5:ShareCapital2024-03-3103663911ns5:ShareCapital2023-03-3103663911ns5:RetainedEarningsAccumulatedLosses2024-03-3103663911ns5:RetainedEarningsAccumulatedLosses2023-03-3103663911ns5:NetGoodwill2023-04-012024-03-3103663911ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3103663911ns5:FurnitureFittings2023-04-012024-03-3103663911ns5:MotorVehicles2023-04-012024-03-3103663911ns5:ComputerEquipment2023-04-012024-03-3103663911ns5:NetGoodwill2023-03-3103663911ns5:NetGoodwill2024-03-3103663911ns5:NetGoodwill2023-03-3103663911ns5:FurnitureFittings2023-03-3103663911ns5:MotorVehicles2023-03-3103663911ns5:ComputerEquipment2023-03-3103663911ns5:FurnitureFittings2024-03-3103663911ns5:MotorVehicles2024-03-3103663911ns5:ComputerEquipment2024-03-3103663911ns5:FurnitureFittings2023-03-3103663911ns5:MotorVehicles2023-03-3103663911ns5:ComputerEquipment2023-03-3103663911ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-3103663911ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3103663911ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-03-3103663911ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-3103663911ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3103663911ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3103663911ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-03-3103663911ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-03-3103663911ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-03-3103663911ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-3103663911ns10:OrdinaryShareClass12024-03-31036639111ns10:Director12023-03-31036639111ns10:Director12022-03-31036639111ns10:Director12023-04-012024-03-31036639111ns10:Director12022-04-012023-03-31036639111ns10:Director12024-03-31036639111ns10:Director12023-03-31
REGISTERED NUMBER: 03663911 (England and Wales)




























Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Hyway Logistics Limited

Hyway Logistics Limited (Registered number: 03663911)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hyway Logistics Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mrs C J Hyland





REGISTERED OFFICE: The Crummock Suite
Paragon Business Park
Chorley New Road
Horwich, Bolton
Lancashire
BL6 6HG





REGISTERED NUMBER: 03663911 (England and Wales)





ACCOUNTANTS: DonnellyBentley Limited
Chartered Accountants
Hazlemere
70 Chorley New Road
Bolton
Lancashire
BL1 4BY

Hyway Logistics Limited (Registered number: 03663911)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 20,000 25,000
Tangible assets 5 86,830 27,797
106,830 52,797

CURRENT ASSETS
Debtors 6 464,207 398,365
Cash at bank and in hand 4,306 18,898
468,513 417,263
CREDITORS
Amounts falling due within one year 7 520,930 401,632
NET CURRENT (LIABILITIES)/ASSETS (52,417 ) 15,631
TOTAL ASSETS LESS CURRENT
LIABILITIES

54,413

68,428

CREDITORS
Amounts falling due after more than one
year

8

45,950

66,915
NET ASSETS 8,463 1,513

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 8,461 1,511
SHAREHOLDERS' FUNDS 8,463 1,513

Hyway Logistics Limited (Registered number: 03663911)

Balance Sheet - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 July 2024 and were signed by:





Mrs C J Hyland - Director


Hyway Logistics Limited (Registered number: 03663911)

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

1. STATUTORY INFORMATION

Hyway Logistics Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hyway Logistics Limited (Registered number: 03663911)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2023 - 36 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 50,000
AMORTISATION
At 1 April 2023 25,000
Amortisation for year 5,000
At 31 March 2024 30,000
NET BOOK VALUE
At 31 March 2024 20,000
At 31 March 2023 25,000

Hyway Logistics Limited (Registered number: 03663911)

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

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 - 33,545 7,530 41,075
Additions 8,956 68,984 1,637 79,577
Disposals - (4,500 ) (2,780 ) (7,280 )
At 31 March 2024 8,956 98,029 6,387 113,372
DEPRECIATION
At 1 April 2023 - 10,926 2,352 13,278
Charge for year 402 15,955 2,420 18,777
Eliminated on disposal - (2,786 ) (2,727 ) (5,513 )
At 31 March 2024 402 24,095 2,045 26,542
NET BOOK VALUE
At 31 March 2024 8,554 73,934 4,342 86,830
At 31 March 2023 - 22,619 5,178 27,797

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 20,495
Additions 56,529
At 31 March 2024 77,024
DEPRECIATION
At 1 April 2023 3,416
Charge for year 12,846
At 31 March 2024 16,262
NET BOOK VALUE
At 31 March 2024 60,762
At 31 March 2023 17,079

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 295,942 231,131
Other debtors 8,000 8,000
Directors' loan accounts 113,687 111,864
Tax 37,467 37,467
Prepayments 9,111 9,903
464,207 398,365

Hyway Logistics Limited (Registered number: 03663911)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 36,239 36,843
Hire purchase contracts 23,638 7,115
Trade creditors 4,724 6,285
Tax - 16,844
Social security and other taxes 14,009 15,642
VAT 82,600 64,977
Other creditors 50,553 46,907
Credit card liabilities - 1,050
Factoring account 220,988 174,195
Other loans 86,144 25,000
Accrued expenses 2,035 6,774
520,930 401,632

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 20,927 36,843
Bank loans - 2-5 years 1,720 21,437
Hire purchase contracts 23,303 8,635
45,950 66,915

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
2 Share capital 1 1 2 2

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mrs C J Hyland
Balance outstanding at start of year 111,864 79,154
Amounts advanced - 32,710
Amounts repaid 1,823 -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 113,687 111,864