Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312726true2023-01-01falseNo description of principal activitytruetruefalse 04331367 2023-01-01 2023-12-31 04331367 2022-01-01 2022-12-31 04331367 2023-12-31 04331367 2022-12-31 04331367 c:Director1 2023-01-01 2023-12-31 04331367 c:Director2 2023-01-01 2023-12-31 04331367 c:Director2 2023-12-31 04331367 c:Director3 2023-01-01 2023-12-31 04331367 c:Director3 2023-12-31 04331367 c:RegisteredOffice 2023-01-01 2023-12-31 04331367 d:PlantMachinery 2023-01-01 2023-12-31 04331367 d:PlantMachinery 2023-12-31 04331367 d:PlantMachinery 2022-12-31 04331367 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04331367 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04331367 d:MotorVehicles 2023-01-01 2023-12-31 04331367 d:MotorVehicles 2023-12-31 04331367 d:MotorVehicles 2022-12-31 04331367 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04331367 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04331367 d:FurnitureFittings 2023-01-01 2023-12-31 04331367 d:FurnitureFittings 2023-12-31 04331367 d:FurnitureFittings 2022-12-31 04331367 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04331367 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04331367 d:OfficeEquipment 2023-01-01 2023-12-31 04331367 d:OfficeEquipment 2023-12-31 04331367 d:OfficeEquipment 2022-12-31 04331367 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04331367 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04331367 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04331367 d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04331367 d:CurrentFinancialInstruments 2023-12-31 04331367 d:CurrentFinancialInstruments 2022-12-31 04331367 d:CurrentFinancialInstruments 1 2023-12-31 04331367 d:CurrentFinancialInstruments 1 2022-12-31 04331367 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04331367 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04331367 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 04331367 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 04331367 d:ShareCapital 2023-12-31 04331367 d:ShareCapital 2022-12-31 04331367 d:RetainedEarningsAccumulatedLosses 2023-12-31 04331367 d:RetainedEarningsAccumulatedLosses 2022-12-31 04331367 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 04331367 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 04331367 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 04331367 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 04331367 d:RetirementBenefitObligationsDeferredTax 2023-12-31 04331367 d:RetirementBenefitObligationsDeferredTax 2022-12-31 04331367 c:OrdinaryShareClass1 2023-01-01 2023-12-31 04331367 c:OrdinaryShareClass1 2023-12-31 04331367 c:OrdinaryShareClass1 2022-12-31 04331367 c:FRS102 2023-01-01 2023-12-31 04331367 c:Audited 2023-01-01 2023-12-31 04331367 c:FullAccounts 2023-01-01 2023-12-31 04331367 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04331367 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 04331367 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 04331367 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 04331367 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 04331367 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04331367 2 2023-01-01 2023-12-31 04331367 7 2023-01-01 2023-12-31 04331367 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-12-31 04331367 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-12-31 04331367 d:LeasedAssetsHeldAsLessee 2023-12-31 04331367 d:LeasedAssetsHeldAsLessee 2022-12-31 04331367 f:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 04331367
















TRUCKWRIGHT LIMITED




FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023


































img7ec9.png


TRUCKWRIGHT LIMITED

 
COMPANY INFORMATION


Directors
Akio Hayakawa 
Tomoori Ito (appointed 1 March 2023)
Yasuyuki Mori (resigned 1 March 2023)




Registered number
04331367



Registered office
Geddington Road

Corby

Northants

NN18 8AA




Independent auditors
Bishop Fleming LLP
Chartered Accountants & Statutory Auditors

1-3 College Yard

Worcester

WR1 2LB






TRUCKWRIGHT LIMITED
REGISTERED NUMBER:04331367

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
356,913
203,276

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
895,301
828,686

Cash at bank and in hand
 6 
142,622
86,410

  
1,037,923
915,096

Creditors: amounts falling due within one year
 7 
(617,763)
(493,634)

NET CURRENT ASSETS
  
 
 
420,160
 
 
421,462

TOTAL ASSETS LESS CURRENT LIABILITIES
  
777,073
624,738

Creditors: amounts falling due after more than one year
  
(130,923)
(5,300)

PROVISIONS FOR LIABILITIES
  

Deferred tax
 9 
(30,419)
(50,728)

NET ASSETS
  
615,731
568,710


CAPITAL AND RESERVES
  

Called up share capital 
 10 
5,000
5,000

Profit and loss account
  
610,731
563,710

  
615,731
568,710


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



Akio Hayakawa
Director

Date: 29 July 2024

The notes on pages 2 to 10 form part of these financial statements.

Page 1


TRUCKWRIGHT LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Truckwright 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

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have reviewed the current trading environment and the resources available to the company in relation to their assessment of going concern and in their opinion have taken reasonable steps to mitigate any issues arising. As at the point of authorising the accounts, and for the foreseeable future, the directors consider the going concern assumption as appropriate. The directors acknowledge that given the current rapidly changing business environment, there are likely to be significant unknown factors that may present themselves. Such factors are considered by the directors to represent a general inherent level of risk in relation to the going concern assumption  albeit not quantifiable at this time.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 2


TRUCKWRIGHT LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Pensions

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 3


TRUCKWRIGHT LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
Motor vehicles
-
17%
for the first 5 years, then 3% for the next 5 years
Fixtures and fittings
-
20%
Office equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the reporting date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the reporting date.

Page 4


TRUCKWRIGHT LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position 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

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 5


TRUCKWRIGHT LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 26 (2022: 27).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



COST OR VALUATION


At 1 January 2023
5,007
436,783
8,797
3,044
453,631


Additions
-
255,320
-
-
255,320


Disposals
-
(225,000)
-
(1,166)
(226,166)



At 31 December 2023

5,007
467,103
8,797
1,878
482,785



DEPRECIATION


At 1 January 2023
4,677
240,325
3,511
1,842
250,355


Charge for the year on owned assets
261
36,280
1,759
446
38,746


Charge for the year on financed assets
-
25,070
-
-
25,070


Disposals
-
(187,133)
-
(1,166)
(188,299)



At 31 December 2023

4,938
114,542
5,270
1,122
125,872



NET BOOK VALUE



At 31 December 2023
69
352,561
3,527
756
356,913



At 31 December 2022
330
196,458
5,286
1,202
203,276

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
242,309
56,513

242,309
56,513

Page 6


TRUCKWRIGHT LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
519,298
551,472

Amounts owed by group undertakings
204,400
116,605

Other debtors
34,074
33,362

Prepayments and accrued income
137,529
127,247

895,301
828,686



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
142,622
86,410

142,622
86,410


Page 7


TRUCKWRIGHT LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Trade creditors
291,432
227,559

Amounts owed to group undertakings
63,732
-

Other taxation and social security
78,646
60,168

Obligations under finance lease and hire purchase contracts
35,734
30,116

Proceeds of factored debts
83,803
125,152

Other creditors
2,991
1,086

Accruals and deferred income
61,425
49,553

617,763
493,634


The following liabilities were secured:

2023
2022
£
£



Hire purchase contracts
35,734
30,116

Invoice discounting
83,803
125,152

119,537
155,268

Details of security provided:

Invoice discounting balances due to HSBC Invoice Finance (UK) Ltd are secured on the trade debtors.

Hire purchase creditors are secured to the assets to which they relate.


8.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
35,734
30,116

Between 1-5 years
130,923
5,300

166,657
35,416

Page 8


TRUCKWRIGHT LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Deferred taxation




2023


£






At beginning of year
(50,728)


Charged to profit or loss
20,309



AT END OF YEAR
(30,419)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Fixed asset timing differences
(84,944)
(73,343)

Short term timing differences
810
92

Losses and other deductions
53,715
22,523

(30,419)
(50,728)


10.


Share capital

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



5,000 (2022: 5,000) Ordinary shares of £1.00 each
5,000
5,000



11.


Capital commitments


At 31 December 2023 the Company had capital commitments as follows:

2023
2022
£
£


Contracted for but not provided in these financial statements
-
150,125


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £23,342 (2022: £24,261) . Contributions totalling £3,241(2022: £975) were payable to the fund at the reporting date and are included in creditors.

Page 9


TRUCKWRIGHT LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

13.


Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose related party transactions with wholly owned subsidiaries within the group.


14.


Controlling party

The immediate parent company is Sansetsu (U.K.) Limited. The ultimate parent company is Umeda Holdings Co, a company incorporated in Japan.
There is no ultimate controlling party.


15.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 30 July 2024 by Gary Woodhall ACA (Senior Statutory Auditor) on behalf of Bishop Fleming LLP.

 
Page 10