T H Crawforth Transport Limited 4129949 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of a road haulier Digita Accounts Production Advanced 6.30.9574.0 true true 4129949 2023-04-01 2024-03-31 4129949 2024-03-31 4129949 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 4129949 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-31 4129949 core:CurrentFinancialInstruments 2024-03-31 4129949 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 4129949 core:Non-currentFinancialInstruments 2024-03-31 4129949 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 4129949 core:Goodwill 2024-03-31 4129949 core:FurnitureFittingsToolsEquipment 2024-03-31 4129949 core:MotorVehicles 2024-03-31 4129949 bus:SmallEntities 2023-04-01 2024-03-31 4129949 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 4129949 bus:FullAccounts 2023-04-01 2024-03-31 4129949 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 4129949 bus:RegisteredOffice 2023-04-01 2024-03-31 4129949 bus:CompanySecretaryDirector1 2023-04-01 2024-03-31 4129949 bus:Director4 2023-04-01 2024-03-31 4129949 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 4129949 core:Goodwill 2023-04-01 2024-03-31 4129949 core:FurnitureFittings 2023-04-01 2024-03-31 4129949 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 4129949 core:MotorVehicles 2023-04-01 2024-03-31 4129949 countries:EnglandWales 2023-04-01 2024-03-31 4129949 2023-03-31 4129949 core:Goodwill 2023-03-31 4129949 core:FurnitureFittingsToolsEquipment 2023-03-31 4129949 core:MotorVehicles 2023-03-31 4129949 2022-04-01 2023-03-31 4129949 2023-03-31 4129949 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-03-31 4129949 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-03-31 4129949 core:CurrentFinancialInstruments 2023-03-31 4129949 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 4129949 core:Non-currentFinancialInstruments 2023-03-31 4129949 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 4129949 core:FurnitureFittingsToolsEquipment 2023-03-31 4129949 core:MotorVehicles 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 4129949

T H Crawforth Transport Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

T H Crawforth Transport Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

T H Crawforth Transport Limited

Company Information

Directors

C M Gardham

T J Crawforth

Company secretary

C M Gardham

Registered office

Windy Ridge
1 Market Hill
Hedon
Hull
East Yorkshire
HU12 8JB

 

T H Crawforth Transport Limited

(Registration number: 4129949)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

304,666

214,588

Current assets

 

Debtors

6

171,863

191,668

Cash at bank and in hand

 

50,757

53,000

 

222,620

244,668

Creditors: Amounts falling due within one year

7

(332,914)

(290,521)

Net current liabilities

 

(110,294)

(45,853)

Total assets less current liabilities

 

194,372

168,735

Creditors: Amounts falling due after more than one year

7

(226,122)

(174,830)

Net liabilities

 

(31,750)

(6,095)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(31,850)

(6,195)

Shareholders' deficit

 

(31,750)

(6,095)

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 20 June 2024 and signed on its behalf by:
 

.........................................
T J Crawforth
Director

 

T H Crawforth Transport Limited

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

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 4129949.

The address of its registered office is:
Windy Ridge
1 Market Hill
Hedon
Hull
East Yorkshire
HU12 8JB

These financial statements were authorised for issue by the Board on 20 June 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.

The financial statements are presented in sterling and are rounded to the nearest pound.

Going concern

The Directors recognise that there is doubt over the going concern status of the Company due to the insolvent balance sheet, caused, in part, by Director loan balances. The Directors have confirmed that they will not seek repayment of these balances due until the Company is in a position to be able to repay these.

The Directors have offered their full support in fulfilling the debts of the entity and are satisified that the Company can continue as a going concern.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of transport 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 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.

 

T H Crawforth Transport Limited

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

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss account.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss has been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the profit and loss account.

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

Motor vehicles

25% on cost

Equipment, fixtures and fittings

25% on cost

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line over 10 years

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.

 

T H Crawforth Transport Limited

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

Trade debtors

Trade debtors are amounts due from customers for the provision of services in the ordinary course of business.

Trade debtors are recognised initially at the transaction price less any bad debts. A provision for the bad debts 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.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

T H Crawforth Transport Limited

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

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 13 (2023 - 12).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

151,500

151,500

At 31 March 2024

151,500

151,500

Amortisation

At 1 April 2023

151,500

151,500

At 31 March 2024

151,500

151,500

Carrying amount

At 31 March 2024

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

6,626

626,303

632,929

Additions

426

145,437

145,863

Disposals

(2,176)

(138,050)

(140,226)

At 31 March 2024

4,876

633,690

638,566

Depreciation

At 1 April 2023

5,422

412,919

418,341

Charge for the year

700

54,023

54,723

Eliminated on disposal

(2,176)

(136,988)

(139,164)

At 31 March 2024

3,946

329,954

333,900

Carrying amount

At 31 March 2024

930

303,736

304,666

At 31 March 2023

1,204

213,384

214,588

 

T H Crawforth Transport Limited

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

6

Debtors

2024
£

2023
£

Trade debtors

127,882

157,181

Prepayments

8,008

4,373

Other debtors

35,973

30,114

171,863

191,668

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

41,339

51,267

Taxation and social security

 

62,388

22,062

Accruals and deferred income

 

9,767

15,806

Other creditors

 

7,953

851

Bank borrowings

8

10,158

9,907

Other borrowings

8

138,926

144,373

Hire purchase contracts

8

62,383

46,255

 

332,914

290,521

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Bank borrowings

8

14,009

24,260

Obligations under hire purchase agreements

8

212,113

150,570

 

226,122

174,830

 

T H Crawforth Transport Limited

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

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

14,009

24,260

Hire purchase contracts

212,113

150,570

226,122

174,830

2024
£

2023
£

Current loans and borrowings

Bank borrowings

10,158

9,907

Hire purchase contracts

62,383

46,255

Other borrowings

138,926

144,373

211,467

200,535

The obligations under finance lease and hire purchase contracts are secured on the assets they relate to. Other borrowings relate to unsecured Director loan balances. Bank borrowings are unsecured and accrue interest at 2.5% per annum.

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £Nil (2023 - £1,936). The company had a commitment relating to the leasing of a truck.

10

Related party transactions

Other transactions with directors

C M Gardham:
At the year end, the company owed the director £16,990 (2023: £16,663). This amount is unsecured, interest free and repayable on demand.

T J Crawforth:
At the year end, the company owed the director £11,812 (2023: £11,212). This amount is unsecured, interest free and repayable on demand.

Summary of transactions with other related parties

T H Crawforth:

At the year end, the company owed the shareholder £110,124 (2023: £116,499). This amount is unsecured, interest free and repayable on demand.