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REGISTERED NUMBER: 01183217 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CHRIS HAYTER TRANSPORT LIMITED

CHRIS HAYTER TRANSPORT LIMITED (REGISTERED NUMBER: 01183217)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


CHRIS HAYTER TRANSPORT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: C T Hayter
J Hayter
A S Holligan
N P Street





SECRETARY: S Taylor





REGISTERED OFFICE: Jervis House
Curbridge Business Park
Downs Road Witney
Oxfordshire
OX29 7WJ





REGISTERED NUMBER: 01183217 (England and Wales)





AUDITORS: Jamesons Limited
Chartered Accountants and Statutory Auditors
Jamesons House
Compton Way
Witney
OX28 3AB

CHRIS HAYTER TRANSPORT LIMITED (REGISTERED NUMBER: 01183217)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

The directors present their strategic report for the year ended 31 December 2023.

REVIEW OF BUSINESS
The principal activity of the company in the year under review was that of warehousing and distribution.

The results of the year and financial position of the company are as shown in the annual financial statements. The directors achieved their aim during the year of continuing to consolidate the trading position of the company and maintain both turnover and profitability.

Turnover increased compared to the 2022 figures by 3.7% and the gross profit margin increased to 24.45% (2022 : 21.16%). Profit before tax and dividends for the year was 7.60% of sales (2022 : 7.12%) which is in line with the industry average and expected in the current economic conditions.

The directors are satisfied with the underlying financial strength and position of the company at the year end.

PRINCIPAL RISKS AND UNCERTAINTIES
The directors have assessed the principal risks and uncertainties affecting the company and, as last year, consider the major risks to be increased regulations, the fluctuating derv prices together with LGV driver shortages affecting the transport industry as well as inflationary increases in commodities and utilities, all of which are outside the directors' control.

KEY PERFORMANCE INDICATORS
Given the straightforward nature of the business and that the directors are also the shareholders of the business; the company's directors are of the opinion that analysis using key performance indicators is not necessary for an understanding of their development, performance and position of the business. They review their monthly reports and management accounts and sales order reports and use these to make business plans and decisions.

ON BEHALF OF THE BOARD:





C T Hayter - Director


26 April 2024

CHRIS HAYTER TRANSPORT LIMITED (REGISTERED NUMBER: 01183217)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

C T Hayter
J Hayter
A S Holligan
N P Street

EMPLOYEE INVOLVEMENT
Employees are kept informed about the progress and position of the company by means of internal communications.
The Company HR department issue regular updates on matters that may affect the employees well being. The Company issues quarterly newsletters to all depots containing matters of general employee interest .

Regular Health and Safety meetings with nominated employee representatives are conducted once each quarter where concerns from individual department heads are aired and rectified when necessary.

DISABLED PERSONS
The company's policy is that any vacancy which arises is open to disabled persons, provided that they are able to fulfil the functions by that job. Employees who have been injured or become disabled in the course of their employment are considered for other suitable vacancies.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

CHRIS HAYTER TRANSPORT LIMITED (REGISTERED NUMBER: 01183217)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2023


AUDITORS
The auditors, Jamesons Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





C T Hayter - Director


26 April 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CHRIS HAYTER TRANSPORT LIMITED

Opinion
We have audited the financial statements of Chris Hayter Transport Limited (the 'company') for the year ended 31 December 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CHRIS HAYTER TRANSPORT LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CHRIS HAYTER TRANSPORT LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non - compliance with laws and regulations was as follows:
" The engagement partner ensured that the engagement team collectively had appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations:
" We identified the laws and regulations applicable to the company through discussion with directors and informed management and from our commercial knowledge and experience of the industry;
" We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company including Companies Act 2006, taxation legislation, employment legislation and health and safety legislation;
" We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and reviewing documentation during the audit; and
" Identified laws and regulations were communicated within the audit team and the team remained alert to instances of non-compliance during the audit.
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by;
" Making enquires of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
" Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
" Reviewed the financial statements and records to identify any unusual or unexpected relationships;
" Tested journal entries to identify unusual transactions;
" Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
" Investigated the rationale behind any significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
" Agreeing financial statement disclosures to underlying supporting documentation;
enquiring of management as to actual and potential litigation and claims; and
" Reviewing correspondence with HMRC and other applicable sources.
There are inherent limitations in our audit procedures described above. The risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquire of the directors and informed management and the inspection of regulatory and legal correspondence if any.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation and there is therefore a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CHRIS HAYTER TRANSPORT LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Anita Lyon FCA FCCA (Senior Statutory Auditor)
for and on behalf of Jamesons Limited
Chartered Accountants and Statutory Auditors
Jamesons House
Compton Way
Witney
OX28 3AB

3 May 2024

CHRIS HAYTER TRANSPORT LIMITED (REGISTERED NUMBER: 01183217)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £    £   

TURNOVER 3 30,386,391 29,292,788

Cost of sales 22,941,960 23,094,951
GROSS PROFIT 7,444,431 6,197,837

Administrative expenses 5,222,523 4,090,796
OPERATING PROFIT 5 2,221,908 2,107,041

Interest receivable and similar income 6 40,587 1,539
2,262,495 2,108,580
Amounts written off investments 7 (62,559 ) -
2,325,054 2,108,580

Interest payable and similar expenses 8 14,847 21,717
PROFIT BEFORE TAXATION 2,310,207 2,086,863

Tax on profit 9 559,953 481,405
PROFIT FOR THE FINANCIAL YEAR 1,750,254 1,605,458

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 1,750,254 1,605,458

CHRIS HAYTER TRANSPORT LIMITED (REGISTERED NUMBER: 01183217)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 11 4,270,049 3,077,499

CURRENT ASSETS
Stocks 12 203,994 276,873
Debtors 13 7,742,188 8,139,412
Cash at bank and in hand 1,599,649 730,870
9,545,831 9,147,155
CREDITORS
Amounts falling due within one year 14 3,053,747 3,342,601
NET CURRENT ASSETS 6,492,084 5,804,554
TOTAL ASSETS LESS CURRENT LIABILITIES 10,762,133 8,882,053

CREDITORS
Amounts falling due after more than one year 15 (40,797 ) (59,441 )

PROVISIONS FOR LIABILITIES 17 (581,780 ) (433,310 )
NET ASSETS 10,139,556 8,389,302

CAPITAL AND RESERVES
Called up share capital 18 10,000 10,000
Retained earnings 19 10,129,556 8,379,302
SHAREHOLDERS' FUNDS 10,139,556 8,389,302

The financial statements were approved by the Board of Directors and authorised for issue on 26 April 2024 and were signed on its behalf by:





C T Hayter - Director


CHRIS HAYTER TRANSPORT LIMITED (REGISTERED NUMBER: 01183217)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 10,000 6,823,844 6,833,844

Changes in equity
Dividends - (50,000 ) (50,000 )
Total comprehensive income - 1,605,458 1,605,458
Balance at 31 December 2022 10,000 8,379,302 8,389,302

Changes in equity
Total comprehensive income - 1,750,254 1,750,254
Balance at 31 December 2023 10,000 10,129,556 10,139,556

CHRIS HAYTER TRANSPORT LIMITED (REGISTERED NUMBER: 01183217)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 4,047,623 1,988,306
Interest paid (34 ) -
Interest element of hire purchase payments
paid

(14,813

)

(21,717

)
Tax paid (394,981 ) (319,415 )
Net cash from operating activities 3,637,795 1,647,174

Cash flows from investing activities
Purchase of tangible fixed assets (2,575,742 ) (1,634,412 )
Sale of tangible fixed assets 70,317 55,850
Interest received 40,587 1,539
Net cash from investing activities (2,464,838 ) (1,577,023 )

Cash flows from financing activities
Capital repayments in year (296,872 ) 4,040
Amount introduced by directors - 4,556
Amount withdrawn by directors (7,306 ) -
Equity dividends paid - (50,000 )
Net cash from financing activities (304,178 ) (41,404 )

Increase in cash and cash equivalents 868,779 28,747
Cash and cash equivalents at beginning of year 2 730,870 702,123

Cash and cash equivalents at end of year 2 1,599,649 730,870

CHRIS HAYTER TRANSPORT LIMITED (REGISTERED NUMBER: 01183217)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2023 2022
£    £   
Profit before taxation 2,310,207 2,086,863
Depreciation charges 1,365,988 1,329,052
Profit on disposal of fixed assets (53,114 ) (45,039 )
Finance costs 14,847 21,717
Finance income (40,587 ) (1,539 )
3,597,341 3,391,054
Decrease/(increase) in stocks 72,879 (80,787 )
Decrease/(increase) in trade and other debtors 397,224 (1,489,762 )
(Decrease)/increase in trade and other creditors (19,821 ) 167,801
Cash generated from operations 4,047,623 1,988,306

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 1,599,649 730,870
Year ended 31 December 2022
31.12.22 1.1.22
£    £   
Cash and cash equivalents 730,870 702,123


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.23 Cash flow At 31.12.23
£    £    £   
Net cash
Cash at bank and in hand 730,870 868,779 1,599,649
730,870 868,779 1,599,649
Debt
Finance leases (563,984 ) 296,872 (267,112 )
(563,984 ) 296,872 (267,112 )
Total 166,886 1,165,651 1,332,537

CHRIS HAYTER TRANSPORT LIMITED (REGISTERED NUMBER: 01183217)

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

1. STATUTORY INFORMATION

Chris Hayter Transport 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced charges for haulage and storage as earned, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost and Straight line over 20 years
Motor vehicles - 25% on cost and 20% on cost
Computer equipment - 25% on cost and Straight line over 6 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are measured on a FIFO basis.

Financial instruments

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less. For the purpose of the cash flow statement, cash and cash equivalents consist of cash and cash equivalents as defined above, net of outstanding bank overdrafts.

Short-term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other operating expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


CHRIS HAYTER TRANSPORT LIMITED (REGISTERED NUMBER: 01183217)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. TURNOVER

The turnover and profit before taxation are attributable to the principal activities of the company.

All turnover arose within the United Kingdom.

4. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 12,963,246 12,254,816
Social security costs 1,368,988 1,253,074
Other pension costs 398,292 352,579
14,730,526 13,860,469

The average number of employees during the year was as follows:
2023 2022

Drivers 120 123
Warehouse 152 152
Administration 56 50
328 325

2023 2022
£    £   
Directors' remuneration 381,324 321,660
Directors' pension contributions to money purchase schemes 16,925 5,284

CHRIS HAYTER TRANSPORT LIMITED (REGISTERED NUMBER: 01183217)

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

4. EMPLOYEES AND DIRECTORS - continued

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

Information regarding the highest paid director is as follows:
2023 2022
£    £   
Emoluments etc 104,496 90,161
Pension contributions to money purchase schemes 3,963 2,643

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
£    £   
Hire of plant and machinery 565,644 628,569
Depreciation - owned assets 1,365,989 1,329,050
Profit on disposal of fixed assets (53,114 ) (45,039 )
Auditors' remuneration 24,660 18,250
Auditors' remuneration for non audit work 3,319 3,297

6. INTEREST RECEIVABLE AND SIMILAR INCOME
2023 2022
£    £   
Deposit account interest 33,221 1,539
Interest received HMRC 7,366 -
40,587 1,539

7. AMOUNTS WRITTEN OFF INVESTMENTS
2023 2022
£    £   
Amounts w/o invs (62,559 ) -

8. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
HMRC interest 34 -
Hire purchase 14,813 21,717
14,847 21,717

CHRIS HAYTER TRANSPORT LIMITED (REGISTERED NUMBER: 01183217)

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

9. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 411,483 312,651

Deferred tax 148,470 168,754
Tax on profit 559,953 481,405

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 2,310,207 2,086,863
Profit multiplied by the standard rate of corporation tax in the UK of 23.521%
(2022 - 19%)

543,384

396,504

Effects of:
Expenses not deductible for tax purposes 15,450 47
Income not taxable for tax purposes (14,714 ) -
Capital allowances in excess of depreciation (139,967 ) (83,900 )
Adjustments to tax charge in respect of previous periods 7,330 -
Movement in deferred taxation 148,470 168,754
Total tax charge 559,953 481,405

10. DIVIDENDS
2023 2022
£    £   
Ordinary shares of £1 each
Interim - 50,000

CHRIS HAYTER TRANSPORT LIMITED (REGISTERED NUMBER: 01183217)

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

11. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 2,818,994 6,354,381 303,998 9,477,373
Additions 1,408,148 1,167,594 - 2,575,742
Disposals (753,329 ) (231,302 ) - (984,631 )
At 31 December 2023 3,473,813 7,290,673 303,998 11,068,484
DEPRECIATION
At 1 January 2023 2,388,031 3,753,272 258,571 6,399,874
Charge for year 220,502 1,126,206 19,281 1,365,989
Eliminated on disposal (753,299 ) (214,129 ) - (967,428 )
At 31 December 2023 1,855,234 4,665,349 277,852 6,798,435
NET BOOK VALUE
At 31 December 2023 1,618,579 2,625,324 26,146 4,270,049
At 31 December 2022 430,963 2,601,109 45,427 3,077,499

12. STOCKS
2023 2022
£    £   
Stocks 203,994 276,873

Stock recognised in cost of sales during the year as an expense was £4,616,982 (2022: £5,516,958).

13. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 5,894,848 6,568,536
Other debtors 1,212,119 904,000
Prepayments 635,221 591,876
7,742,188 8,064,412

Amounts falling due after more than one year:
Other debtors - 75,000

Aggregate amounts 7,742,188 8,139,412

CHRIS HAYTER TRANSPORT LIMITED (REGISTERED NUMBER: 01183217)

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

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 16) 226,315 504,543
Trade creditors 575,836 759,092
Tax 194,153 177,651
Social security and other taxes 763,434 377,835
Directors' loan accounts 4,536 11,842
Accrued expenses 1,289,473 1,511,638
3,053,747 3,342,601

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 16) 40,797 59,441

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 226,315 504,543
Between one and five years 40,797 59,441
267,112 563,984

Non-cancellable operating leases
2023 2022
£    £   
Within one year 2,981,872 1,671,260
Between one and five years 5,170,504 2,254,769
In more than five years 4,143,165 810,593
12,295,541 4,736,622

17. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 581,780 433,310

CHRIS HAYTER TRANSPORT LIMITED (REGISTERED NUMBER: 01183217)

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

17. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 433,310
Accelerated capital allowances 148,470
Balance at 31 December 2023 581,780

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary £1 10,000 10,000

All ordinary shares rank equally in respect of voting rights, dividend rights and rights on winding up.

19. RESERVES
Retained
earnings
£   

At 1 January 2023 8,379,302
Profit for the year 1,750,254
At 31 December 2023 10,129,556

20. PENSION COMMITMENTS

The company operates a defined contribution 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 £398,292 (2022 : £352,579).

21. CONTINGENT LIABILITIES

The Governor and Company of the Bank of Scotland hold a fixed and floating charge over the undertaking and all assets present and future including goodwill, book debts, uncalled capital buildings fixtures plant and machinery dated 4th November 2002.

Bank of Scotland hold a fixed and floating charge over all the property or undertaking of the company dated 28th September 2023.

22. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year there were no advances (2022 - £38,529) to a director.

CHRIS HAYTER TRANSPORT LIMITED (REGISTERED NUMBER: 01183217)

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

23. RELATED PARTY DISCLOSURES

During the year there were the following related party transactions:

2023 2022
Rent and other services £1,969,850 £1,926,391
Trade creditors £5,171 £4,050
Other debtors £1,804,900 £904,000


All transactions are at arms length and are on normal commercial terms.

24. ULTIMATE CONTROLLING PARTY

The ultimate parent company Chayter Holdings Limited is owned by Mr C Hayter and Mrs J Hayter and they are considered to be the ultimate controlling party.