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Registration number: 09412264

Charlotte Bradley Transport Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Charlotte Bradley Transport Services Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Charlotte Bradley Transport Services Limited

Company Information

Director

C Turner

Registered office

Unit 4
Highfields Industrial Estate
North Newbald
York
YO43 4SW

 

Charlotte Bradley Transport Services Limited

(Registration number: 09412264)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

72,102

45,837

Current assets

 

Stocks

5

18,000

18,000

Debtors

6

179,324

131,112

Cash at bank and in hand

 

60,940

42,073

 

258,264

191,185

Creditors: Amounts falling due within one year

7

(302,543)

(193,750)

Net current liabilities

 

(44,279)

(2,565)

Total assets less current liabilities

 

27,823

43,272

Creditors: Amounts falling due after more than one year

7

(12,782)

(28,679)

Net assets

 

15,041

14,593

Capital and reserves

 

Called up share capital

334

334

Share premium reserve

13,766

13,766

Retained earnings

941

493

Shareholders' funds

 

15,041

14,593

For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 Director acknowledges her 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 Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 August 2024
 

.........................................
C Turner
Director

 

Charlotte Bradley Transport Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital incorporated in England & Wales and the company registration number is 09412264.

The address of its registered office is:
Unit 4
Highfields Industrial Estate
North Newbald
York
YO43 4SW

These financial statements were authorised for issue by the director on 20 August 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.

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.

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 taxable income.

 

Charlotte Bradley Transport Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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

Plant & Machinery

25% Reducing balance

Motor Vehicles

25% Reducing balance

Office equipment

25% Reducing balance

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.

Trade debtors

Trade debtors are amounts due from customers for services provided 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.

 

Charlotte Bradley Transport Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

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.

 

Charlotte Bradley Transport Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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.

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 4 (2022 - 6).

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2022

60,011

8,784

93,334

162,129

Additions

51,599

862

-

52,461

Disposals

-

(802)

(88,834)

(89,636)

At 30 November 2023

111,610

8,844

4,500

124,954

Depreciation

At 1 December 2022

37,993

4,805

73,494

116,292

Charge for the year

5,777

872

349

6,998

Eliminated on disposal

-

(50)

(70,388)

(70,438)

At 30 November 2023

43,770

5,627

3,455

52,852

Carrying amount

At 30 November 2023

67,840

3,217

1,045

72,102

At 30 November 2022

22,018

3,979

19,840

45,837

5

Stocks

2023
£

2022
£

Other inventories

18,000

18,000

6

Debtors

Current

2023
£

2022
£

Trade debtors

174,411

127,173

Prepayments

93

528

Other debtors

4,820

3,411

 

179,324

131,112

 

Charlotte Bradley Transport Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

7

Creditors

Creditors: amounts due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

99,471

63,401

HP and finance leases

8

-

8,946

Other borrowings

8

197

70

Taxation and social security

 

51,156

47,329

Accruals and deferred income

 

5,090

4,036

Other creditors

 

86,384

19,256

Bank borrowings

8

60,245

50,712

 

302,543

193,750

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

12,782

28,679

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

60,245

50,712

Other borrowings

197

70

HP and finance leases

-

8,946

60,442

59,728

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

12,782

13,090

HP and finance lease liabilities

-

15,589

12,782

28,679

Borrowings of £56,092 relating to a factoring account are secured on trade receivables. Bank borrowings of £16,935 relate to a bounce back loan, and are unsecured.

Other borrowings include unsecured amounts due to directors.

 

Charlotte Bradley Transport Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

9

Operating lease commitments

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £260 (2022 - £608).

10

Related party transactions

Other transactions with directors

At the year end, the company owed the director £197 (2022: £70). This amount is unsecured, interest free and repayable on demand.

Summary of transactions with other related parties

Shareholder Loans

At the year end, the amount due to the shareholders in respect of loan balances was £25,856 (2022: £18,956). This amount is unsecured, interest free and repayable on demand.