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REGISTERED NUMBER: 01896313 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

PETER FIELD TRANSPORT LIMITED

PETER FIELD TRANSPORT LIMITED (REGISTERED NUMBER: 01896313)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PETER FIELD TRANSPORT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: R Field
P Harrison





SECRETARY: R Field





REGISTERED OFFICE: Conquest House
248 Toddington Road
Luton
Bedfordshire
LU4 9DZ





REGISTERED NUMBER: 01896313 (England and Wales)





ACCOUNTANTS: Ad Valorem Accountancy Services Limited
Chartered Certified Accountants
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Buckinghamshire
MK12 5NN

PETER FIELD TRANSPORT LIMITED (REGISTERED NUMBER: 01896313)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 2 2
Tangible assets 5 240,646 289,024
240,648 289,026

CURRENT ASSETS
Stocks 6,127 16,769
Debtors 6 446,902 413,989
Cash at bank and in hand 741,024 813,057
1,194,053 1,243,815
CREDITORS
Amounts falling due within one year 7 273,505 257,246
NET CURRENT ASSETS 920,548 986,569
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,161,196

1,275,595

PROVISIONS FOR LIABILITIES 57,250 54,915
NET ASSETS 1,103,946 1,220,680

CAPITAL AND RESERVES
Called up share capital 8 50 50
Capital redemption reserve 9,950 9,950
Retained earnings 1,093,946 1,210,680
SHAREHOLDERS' FUNDS 1,103,946 1,220,680

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

PETER FIELD TRANSPORT LIMITED (REGISTERED NUMBER: 01896313)

BALANCE SHEET - continued
30 APRIL 2024


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 Board of Directors and authorised for issue on 11 August 2024 and were signed on its behalf by:





P Harrison - Director


PETER FIELD TRANSPORT LIMITED (REGISTERED NUMBER: 01896313)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Peter Field Transport 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 recognised as the fair value of the consideration received or receivable for goods and services provided from freight transport activities, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

INTANGIBLE FIXED ASSETS - GOODWILL
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. The directors are of the opinion that the value of goodwill being carried forward is no less than original cost, and accordingly no proviso for impairment is required.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

PETER FIELD TRANSPORT LIMITED (REGISTERED NUMBER: 01896313)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

PETER FIELD TRANSPORT LIMITED (REGISTERED NUMBER: 01896313)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 32 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 May 2023
and 30 April 2024 2
NET BOOK VALUE
At 30 April 2024 2
At 30 April 2023 2

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£ £ £ £
COST
At 1 May 2023 97,072 28,337 704,980 830,389
Additions 33,000 - - 33,000
Disposals - (2,576 ) (40,000 ) (42,576 )
At 30 April 2024 130,072 25,761 664,980 820,813
DEPRECIATION
At 1 May 2023 68,119 20,562 452,684 541,365
Charge for year 9,989 2,025 61,055 73,069
Eliminated on disposal - (2,342 ) (31,925 ) (34,267 )
At 30 April 2024 78,108 20,245 481,814 580,167
NET BOOK VALUE
At 30 April 2024 51,964 5,516 183,166 240,646
At 30 April 2023 28,953 7,775 252,296 289,024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 336,065 312,050
Other debtors 110,837 101,939
446,902 413,989

PETER FIELD TRANSPORT LIMITED (REGISTERED NUMBER: 01896313)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 128,481 116,755
Taxation and social security 142,144 138,091
Other creditors 2,880 2,400
273,505 257,246

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
26 Ordinary A 1 26 26
24 Ordinary B 1 24 24
50 50