Registered number
03680247
Alan Ward Transport Limited
Report and Unaudited Accounts
31 December 2023
Collins
Chartered Accountants
West Midlands
Alan Ward Transport Limited
Registered number: 03680247
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £ £ £
Fixed assets
Tangible assets 3 10,722 14,296
Current assets
Debtors 4 8,133 19,143
Cash at bank and in hand 138,113 141,746
146,246 160,889
Creditors: amounts falling due within one year 5 (54,453) (56,277)
Net current assets 91,793 104,612
Total assets less current liabilities 102,515 118,908
Creditors: amounts falling due after more than one year 6 (8,333) (13,333)
Provisions for liabilities (2,680) (3,574)
Net assets 91,502 102,001
Capital and reserves
Called up share capital 2 2
Profit and loss account 91,500 101,999
Shareholders' funds 91,502 102,001
The directors are 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 directors acknowledge their 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.
C Ward
Director
Approved by the board on 10 June 2024
Alan Ward Transport Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 (as applicable to small companies), The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises revenue earned from the rendering of haulage services,and is recognised when the work is performed.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 20-25% reducing balance basis
Plant and machinery 15% reducing balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are also recognised at transaction price including any transaction costs.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are also recognised at transaction price net of any transaction costs.
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. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 44,103 65,315 109,418
Additions 324 - 324
Disposals (40,941) - (40,941)
At 31 December 2023 3,486 65,315 68,801
Depreciation
At 1 January 2023 44,102 51,020 95,122
Charge for the year 324 3,574 3,898
On disposals (40,941) - (40,941)
At 31 December 2023 3,485 54,594 58,079
Net book value
At 31 December 2023 1 10,721 10,722
At 31 December 2022 1 14,295 14,296
4 Debtors 2023 2022
£ £
Trade debtors 4,501 15,605
Prepayments and accrued income 3,632 3,538
8,133 19,143
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,000 5,000
Trade creditors 2,348 4,435
Corporation tax 8,721 10,891
Other taxes and social security costs 1,243 3,909
Directors loans 22,141 17,142
Accruals and deferred income 15,000 14,900
54,453 56,277
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 8,333 13,333
7 Other information
Alan Ward Transport Limited is a private company limited by shares and incorporated in England. Its registered office is:
3 Eddies Lane
Elford
Tamworth
Staffordshire
B79 9BW
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