REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2023 |
for |
DAVID BRATT & SONS (HAULAGE) LTD |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2023 |
for |
DAVID BRATT & SONS (HAULAGE) LTD |
DAVID BRATT & SONS (HAULAGE) LTD (REGISTERED NUMBER: 01070044) |
Contents of the Financial Statements |
for the Year Ended 30 November 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
DAVID BRATT & SONS (HAULAGE) LTD |
Company Information |
for the Year Ended 30 November 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Century Buildings |
14 St Mary's Parsonage |
Manchester |
M3 2DF |
BANKERS: |
180 London Road |
Hazel Grove |
Stockport |
Cheshire |
SK7 4DH |
DAVID BRATT & SONS (HAULAGE) LTD (REGISTERED NUMBER: 01070044) |
Balance Sheet |
30 November 2023 |
30.11.23 | 30.11.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
DAVID BRATT & SONS (HAULAGE) LTD (REGISTERED NUMBER: 01070044) |
Balance Sheet - continued |
30 November 2023 |
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 |
DAVID BRATT & SONS (HAULAGE) LTD (REGISTERED NUMBER: 01070044) |
Notes to the Financial Statements |
for the Year Ended 30 November 2023 |
1. | STATUTORY INFORMATION |
David Bratt & Sons (Haulage) Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is accounted for as revenue when, and to the extent that, the company obtains a right to consideration in exchange for its performance of its obligations under the sales contract with the customer. The amount reported as revenue is the fair value of the right to consideration - usually the price specified in the contractual arrangement net of discounts and net of VAT, and after any allowance for credit risk and other uncertainties. |
Tangible fixed assets |
Freehold property | - |
Long leasehold | - |
Plant and machinery | - |
Motor vehicles | - |
Tangible fixed assets are initially recorded at cost. Included in cost of land and buildings is freehold land of £498,971 (2022 - £498,971) which is not depreciated. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
DAVID BRATT & SONS (HAULAGE) LTD (REGISTERED NUMBER: 01070044) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts, are capitalised in the balance sheet and are depreciated over their useful lives. The capital elements of future obligations under the leases and hire purchase contracts are included as liabilities in the balance sheet. |
The interest elements of the rental obligations are charged in the profit and loss account over the periods of the leases and hire purchase contracts and represent a constant proportion of the balance of capital repayments outstanding. |
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term. |
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. |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Freehold | Long | Plant and | Motor |
property | leasehold | machinery | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 December 2022 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 30 November 2023 |
DEPRECIATION |
At 1 December 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
Included in cost of land and buildings is freehold land of £ 498,971 (2022 - £ 498,971 ) which is not depreciated. |
DAVID BRATT & SONS (HAULAGE) LTD (REGISTERED NUMBER: 01070044) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1 December 2022 |
Additions |
Transfer to ownership | - | (363,356 | ) | (363,356 | ) |
At 30 November 2023 |
DEPRECIATION |
At 1 December 2022 |
Charge for year |
Transfer to ownership | - | (273,657 | ) | (273,657 | ) |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Trade debtors |
Other debtors | 138,927 | 138,927 |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts (see note 8) |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Bank loans |
Hire purchase contracts (see note 8) |
DAVID BRATT & SONS (HAULAGE) LTD (REGISTERED NUMBER: 01070044) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
The bank borrowing is secured by a legal charge over the company's properties at: |
1. Birdhall Lane, Cheadle Heath, Stockport. |
2. Unit 7,8 and 9 Oil Wells Building, Birdhall Lane, Cheadle Heath. |
3. Land at Europa Way, Spectrum Business Park, Off Birdhall Lane, Cheadle, Stockport. |
4. The Old School Hall, Grove Lane, Cheadle Hulme, Stockport. |
Borrowing on hire purchase agreements are secured against the assets financed by the relevant borrowing. |
8. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
30.11.23 | 30.11.22 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable | operating leases |
30.11.23 | 30.11.22 |
£ | £ |
Within one year |
Between one and five years |
9. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |
10. | PENSION COMMITMENTS AND OTHER POST-RETIREMENT BENEFITS |
Defined Contribution Scheme |
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. |