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REGISTERED NUMBER: 07496681 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Launceston Truck Service Limited

Launceston Truck Service Limited (Registered number: 07496681)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

Launceston Truck Service Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: D Sandercock





REGISTERED OFFICE: Scarne Industrial Estate
Launceston
Cornwall
PL15 9HS





REGISTERED NUMBER: 07496681 (England and Wales)





ACCOUNTANTS: Haines Watts
9 Western Road
Launceston
Cornwall
PL15 7AR

Launceston Truck Service Limited (Registered number: 07496681)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 143,215 70,628
143,215 70,628

CURRENT ASSETS
Stocks 217,241 209,838
Debtors 6 201,807 265,607
Cash at bank 60,817 78,707
479,865 554,152
CREDITORS
Amounts falling due within one year 7 455,574 448,696
NET CURRENT ASSETS 24,291 105,456
TOTAL ASSETS LESS CURRENT LIABILITIES 167,506 176,084

CREDITORS
Amounts falling due after more than one
year

8

(44,181

)

(34,259

)

PROVISIONS FOR LIABILITIES (20,484 ) (10,742 )
NET ASSETS 102,841 131,083

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 101,841 130,083
SHAREHOLDERS' FUNDS 102,841 131,083

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Launceston Truck Service Limited (Registered number: 07496681)

Balance Sheet - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 August 2024 and were signed by:





D Sandercock - Director


Launceston Truck Service Limited (Registered number: 07496681)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Launceston Truck Service 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
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 the shorter.
Plant and machinery etc - 25% on reducing balance

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 Income Statement, 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.

Launceston Truck Service Limited (Registered number: 07496681)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

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. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 8,640
AMORTISATION
At 1 April 2023
and 31 March 2024 8,640
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

Launceston Truck Service Limited (Registered number: 07496681)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 288,646
Additions 120,734
Disposals (17,250 )
At 31 March 2024 392,130
DEPRECIATION
At 1 April 2023 218,018
Charge for year 46,444
Eliminated on disposal (15,547 )
At 31 March 2024 248,915
NET BOOK VALUE
At 31 March 2024 143,215
At 31 March 2023 70,628

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 34,495
At 31 March 2024 34,495
DEPRECIATION
Charge for year 8,624
At 31 March 2024 8,624
NET BOOK VALUE
At 31 March 2024 25,871

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 79,449 118,501
Other debtors 122,358 147,106
201,807 265,607

Launceston Truck Service Limited (Registered number: 07496681)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 6,000 5,556
Hire purchase contracts (see note 9) 10,348 -
Trade creditors 66,978 36,592
Taxation and social security 4,971 20,284
Other creditors 367,277 386,264
455,574 448,696

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 27,796 34,259
Hire purchase contracts (see note 9) 16,385 -
44,181 34,259

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,796 12,037

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 10,348 -
Between one and five years 16,385 -
26,733 -

Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 58,000 -
Between one and five years 193,333 -
251,333 -

Launceston Truck Service Limited (Registered number: 07496681)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
1,000 Ordinary 1 1,000 1,000

11. RELATED PARTY DISCLOSURES

During the year, the company entered into the following transactions with related parties:


Transaction
Value
Transaction
Value
Balance owed
by/(owed to

)
Balance owed
by/(owed to

)

Year end
31/03/2024
Period end
31/03/2023
Year end
31/03/2024
Period end
31/03/2023
South West Truck and Trailer Parts Ltd(£105,539)(£65,359)£115,595£144,081


As at 31 March 2024 the company owed the director, Mr D Sandercock £367,277 (31 March 2023 £386,264). This loan is provided to the company at an interest rate of nil and is repayable on demand.

On 30 October 2023, the shares were purchased by the parent company Blackbird Holdings (SW) Ltd. Launceston Truck Service Limited is now a wholly owned subsidiary of this group.

12. ULTIMATE CONTROLLING PARTY

D Sandercock, by virtue of his shareholding in the parent company and directorship, controls the company.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Launceston Truck Service Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Launceston Truck Service Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Launceston Truck Service Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Launceston Truck Service Limited and state those matters that we have agreed to state to the director of Launceston Truck Service Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Launceston Truck Service Limited and its director for our work or for this report.

It is your duty to ensure that Launceston Truck Service Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Launceston Truck Service Limited. You consider that Launceston Truck Service Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Launceston Truck Service Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Haines Watts
9 Western Road
Launceston
Cornwall
PL15 7AR


28 August 2024