REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 August 2023 |
for |
PC Transport Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 August 2023 |
for |
PC Transport Ltd |
PC Transport Ltd (Registered number: NI619716) |
Contents of the Financial Statements |
for the Year Ended 31 August 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
PC Transport Ltd |
Company Information |
for the Year Ended 31 August 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Unit HF 9, Twin Spires Complex |
Howard Buildings |
155 Northumberland Street |
Belfast |
Antrim |
BT13 2JF |
PC Transport Ltd (Registered number: NI619716) |
Statement of Financial Position |
31 August 2023 |
31.8.23 | 31.8.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
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 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. |
PC Transport Ltd (Registered number: NI619716) |
Statement of Financial Position - continued |
31 August 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved and authorised for issue by the director and authorised for issue on |
PC Transport Ltd (Registered number: NI619716) |
Notes to the Financial Statements |
for the Year Ended 31 August 2023 |
1. | STATUTORY INFORMATION |
PC Transport Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
As noted in the Directors' Report, the Company ceased trading activity on 23rd August 2023. |
Significant judgements and estimates |
In preparing these financial statements the director has made the following judgements: |
The director determines whether there are indicators of impairment of the company's tangible fixed assets. Factors taken considered include economic viability and expected future performance of the assets and the business in general. |
Consider the recoverability of trade debtors and the need for impairment provisions. These considerations are undertaken regularly by the director, and especially at the year end date. Factors taken into account include historical experience, current market conditions and knowledge of the sector. Amounts identified as irrecoverable will be provided against in the relevant period. |
Consider the depreciation rates on an annual basis to ensure there is sufficient evidence to support these and that the estimates remains reasonable. |
Turnover |
Turnover represents net invoiced sale of services, excluding value added tax. |
Tangible fixed assets |
Motor vehicles | - |
PC Transport Ltd (Registered number: NI619716) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2023 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
All financial statements of the company are considered to meet the definition of basic financial instruments. |
-Short term debtors and creditors |
Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account. |
-Cash and cash equivalents |
Cash and cash equivalents comprise cash at bank and in hand. |
-Loans and borrowings |
All loans and borrowings are initially recorded at the present value of cash payable to the lender in settlement of the liability discounted at the market interest rate. Subsequently loans and borrowings are stated at amortised cost using the effective interest rate method. The computation of amortised cost includes any issues costs, transaction costs and fees, and any discount or premium on settlement, and the effect of this is to amortise these amounts over the expected borrowing period. Loans with no stated interest rate and repayable within one period or on demand are not amortised. Loans and borrowing are classified as current liabilities unless the borrower has an unconditional right to defer settlement of the liability for at least 12 months after the financial period end date. |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
Holiday pay accrual |
A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and is available to carry forward to future periods. This is measured at the un-discounted salary cost of the future holiday entitlement so accrued at the balance sheet date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
PC Transport Ltd (Registered number: NI619716) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2023 |
4. | TANGIBLE FIXED ASSETS |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 September 2022 |
and 31 August 2023 |
DEPRECIATION |
At 1 September 2022 |
Charge for year |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
5. | DEBTORS |
31.8.23 | 31.8.22 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.23 | 31.8.22 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.8.23 | 31.8.22 |
£ | £ |
Bank loans |
PC Transport Ltd (Registered number: NI619716) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2023 |
8. | RELATED PARTY DISCLOSURES |
Included in debtors is an amount of £21,000 owing to the company by the director P Cardwell. This is included as other debtors. This loan is repayable on demand. |
Included in debtors is also an amount of £36,500 owing to the company by Benitos Ltd, in which Mr P Cardwell is a Director. |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is P Cardwell. |