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Registered number: 04911246
David Francis (Transport) International Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Charlton Baker (Trowbridge)
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 04911246
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 50,332 67,103
Investments 5 130,000 70,000
180,332 137,103
CURRENT ASSETS
Debtors 6 85,267 102,395
Cash at bank and in hand 278,100 374,929
363,367 477,324
Creditors: Amounts Falling Due Within One Year 7 (43,354 ) (104,273 )
NET CURRENT ASSETS (LIABILITIES) 320,013 373,051
TOTAL ASSETS LESS CURRENT LIABILITIES 500,345 510,154
PROVISIONS FOR LIABILITIES
Deferred Taxation (9,563 ) (12,749 )
NET ASSETS 490,782 497,405
CAPITAL AND RESERVES
Called up share capital 9 100 100
Income Statement 490,682 497,305
SHAREHOLDERS' FUNDS 490,782 497,405
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr David Francis
Director
21/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
David Francis (Transport) International Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04911246 . The registered office is The Old Smithy, High Street, Maiden Bradley, WARMINSTER, Wiltshire, BA12 7JG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 33% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts 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 the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.5. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 5)
4 5
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2022 359,805 323 335 360,463
As at 30 November 2023 359,805 323 335 360,463
Depreciation
As at 1 December 2022 292,738 287 335 293,360
Provided during the period 16,766 5 - 16,771
As at 30 November 2023 309,504 292 335 310,131
Net Book Value
As at 30 November 2023 50,301 31 - 50,332
As at 1 December 2022 67,067 36 - 67,103
5. Investments
Listed
£
Cost
As at 1 December 2022 70,000
Additions 130,000
Disposals (70,000 )
As at 30 November 2023 130,000
Provision
As at 1 December 2022 -
As at 30 November 2023 -
Net Book Value
As at 30 November 2023 130,000
As at 1 December 2022 70,000
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Page 5
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 78,793 92,898
Other debtors 6,474 9,497
85,267 102,395
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 10,996 17,727
Other creditors 5,552 4,606
Taxation and social security 26,806 81,940
43,354 104,273
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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