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REGISTERED NUMBER: 04270763 (England and Wales)










Financial Statements

for the Year Ended 31 December 2023

for

Clwyd Transport Services Limited

Clwyd Transport Services Limited (Registered number: 04270763)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Clwyd Transport Services Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: S M Jones
D P Jones





SECRETARY: S M Jones





REGISTERED OFFICE: Clwyd House
Blackwood Business Park
Ash Road South
Wrexham
LL13 9UG





REGISTERED NUMBER: 04270763 (England and Wales)





AUDITORS: Haines Watts, Statutory Auditor
Military House
24 Castle Street
Chester
Cheshire
CH1 2DS

Clwyd Transport Services Limited (Registered number: 04270763)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,772,394 1,272,764
Investment property 5 180,347 360,694
2,952,741 1,633,458

CURRENT ASSETS
Debtors 6 1,452,140 1,734,951
Cash at bank and in hand 886,877 947,640
2,339,017 2,682,591
CREDITORS
Amounts falling due within one year 7 803,076 769,062
NET CURRENT ASSETS 1,535,941 1,913,529
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,488,682

3,546,987

CREDITORS
Amounts falling due after more than one
year

8

(857,647

)

(409,933

)

PROVISIONS FOR LIABILITIES (415,226 ) (109,453 )
NET ASSETS 3,215,809 3,027,601

CAPITAL AND RESERVES
Called up share capital 698,377 698,377
Retained earnings 11 2,517,432 2,329,224
SHAREHOLDERS' FUNDS 3,215,809 3,027,601

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:





D P Jones - Director


Clwyd Transport Services Limited (Registered number: 04270763)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Clwyd Transport Services 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.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company, rounded to the nearest £1.

Tangible fixed assets
Fixed assets are initially recorded at cost. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is shorter.

Short leasehold- over the life of the lease
Plant and machinery- 25% on cost
Fixtures and fittings- 10% on cost
Motor vehicles- 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Clwyd Transport Services Limited (Registered number: 04270763)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax. The total turnover of the company for the year has been derived from its principal activity wholly undertaken in the UK.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 19 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 - 80,505 12,661 3,307,034 3,400,200
Additions 441,848 8,135 4,499 1,303,102 1,757,584
Disposals - (1,999 ) - (196,106 ) (198,105 )
Reclassification/transfer 180,347 - - - 180,347
At 31 December 2023 622,195 86,641 17,160 4,414,030 5,140,026
DEPRECIATION
At 1 January 2023 - 79,157 12,020 2,036,259 2,127,436
Charge for year - 2,223 575 399,032 401,830
Eliminated on disposal - (1,999 ) - (159,635 ) (161,634 )
At 31 December 2023 - 79,381 12,595 2,275,656 2,367,632
NET BOOK VALUE
At 31 December 2023 622,195 7,260 4,565 2,138,374 2,772,394
At 31 December 2022 - 1,348 641 1,270,775 1,272,764

During the year, the company reclassified 50% of investment property to freehold property due to 50% of the building being used by Clwyd Transport Services Limited.

The freehold property is included at market value, as valued by the directors.

Clwyd Transport Services Limited (Registered number: 04270763)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 1,892,308
Additions 1,164,330
Transfer to ownership (618,745 )
At 31 December 2023 2,437,893
DEPRECIATION
At 1 January 2023 1,000,486
Charge for year 235,555
Transfer to ownership (595,273 )
At 31 December 2023 640,768
NET BOOK VALUE
At 31 December 2023 1,797,125
At 31 December 2022 891,822

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 360,694
Reclassification/transfer (180,347 )
At 31 December 2023 180,347
NET BOOK VALUE
At 31 December 2023 180,347
At 31 December 2022 360,694

Investment property is revalued annually by the directors.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 957,759 1,158,026
Other debtors 494,381 533,503
Tax - 43,422
1,452,140 1,734,951

Clwyd Transport Services Limited (Registered number: 04270763)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts (see note 9) 312,644 201,463
Trade creditors 166,364 299,388
Corporation tax - 9
PAYE creditor 34,731 39,456
VAT 44,445 6,221
Other creditors 56,408 50,954
Amount owed to associates 173,166 130,770
Directors' current accounts 90 660
Accruals and deferred income 15,228 40,141
803,076 769,062

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts (see note 9) 857,647 409,933

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 312,644 201,463
Between one and five years 857,647 409,933
1,170,291 611,396

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 1,170,291 611,396

Hire purchase creditors are secured on the assets to which they relate and a fixed and floating charge over assets of the company.

11. RESERVES
Retained
earnings
£   

At 1 January 2023 2,329,224
Profit for the year 229,208
Dividends (41,000 )
At 31 December 2023 2,517,432

Clwyd Transport Services Limited (Registered number: 04270763)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael John Forshaw BA FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts, Statutory Auditor

13. CAPITAL COMMITMENTS
31.12.23 31.12.22
£    £   
Contracted but not provided for in the
financial statements 93,850 -

During the year Clwyd Transport Services Limited had committed to buy fixed assets. The cost of these committed costs was £93,850 and both were realised in January 2024.

14. RELATED PARTY DISCLOSURES

At the Balance Sheet date a net amount of £218,226 (2022 - £167,322) was owed by the company to Clwyd Transport Services, a partnership controlled by the shareholders and directors DP and SM Jones .

At the Balance Sheet date an amount of £54,080 (2022 - £14,159) was due from Russ Transport Ltd, a business owned by R G Jones, a connected party.

At the Balance Sheet date a net amount of £337,996 (2022 - £443,556) was due from Clwyd Developments Limited, a company associated by common shareholders.

At the Balance Sheet date a net amount of £10,000 (2022 - £10,000) was due from C Jones, a shareholder of the company.


All related party transactions during the year were on an arms length basis.

15. ULTIMATE CONTROLLING PARTY

The directors D P Jones and S M Jones are considered to be the ultimate controlling party by virtue of their ability to act in concert in respect of the operational and financial policies of the company.