Registered number
06848477
HAVEN CONVEYORS AND HANDLING SYSTEMS LIMITED
Accounts
For the year ended 31 March 2024
HAVEN CONVEYORS AND HANDLING SYSTEMS LIMITED
Registered number: 06848477
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 10,967 14,414
Current assets
Stocks 9,284 9,185
Debtors 4 95,132 58,745
Cash at bank and in hand 63,871 119,133
168,287 187,063
Creditors: amounts falling due within one year 5 (131,737) (134,743)
Net current assets 36,550 52,320
Total assets less current liabilities 47,517 66,734
Creditors: amounts falling due after more than one year 6 (11,667) (21,667)
Provisions for liabilities (2,081) (2,739)
Net assets 33,769 42,328
Capital and reserves
Called up share capital 99 99
Profit and loss account 33,670 42,229
Shareholders' funds 33,769 42,328
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A S Hughes
Director
Approved by the board on 13 August 2024
HAVEN CONVEYORS AND HANDLING SYSTEMS LIMITED
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added tax. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Tangible fixed assets
Depreciation has been provided at the following annual rates in order to write off the assets over their estimated useful lives.
Office equipment 20% reducing balance basis
Plant, machinery, fixtures and fittings 15% reducing balance basis
Motor vehicles 25% reducing balance basis
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
Assets held under finance lease and hire purchase contracts, which are those where substantially all the risks and rewards of ownership have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.
The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees and Directors 2024 2023
Number Number
Average number of persons employed by the company 5 7
3 Tangible fixed assets
Office equipment Plant, machinery and fixtures Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 4,952 7,153 54,186 66,291
At 31 March 2024 4,952 7,153 54,186 66,291
Depreciation
At 1 April 2023 4,669 5,731 41,477 51,877
Charge for the year 57 213 3,177 3,447
At 31 March 2024 4,726 5,944 44,654 55,324
Net book value
At 31 March 2024 226 1,209 9,532 10,967
At 31 March 2023 283 1,422 12,709 14,414
4 Debtors 2024 2023
£ £
Trade debtors 73,058 44,007
Other debtors 22,074 14,738
95,132 58,745
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loan 10,000 10,000
Trade creditors 71,746 63,516
Taxation and social security costs 16,270 11,957
Other creditors 33,721 49,270
131,737 134,743
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loan 11,667 21,667
7 Other information
HAVEN CONVEYORS AND HANDLING SYSTEMS LIMITED is a private company limited by shares and incorporated in England and Wales. Its registered office is:
Duncote Mill
Walcot
Telford
Shropshire
TF6 5EN
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