Registered number
07534145
R S EXPRESS DISTRIBUTION & HAULAGE LIMITED
Filleted Accounts
31 March 2024
R S EXPRESS DISTRIBUTION & HAULAGE LIMITED
Registered number: 07534145
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 57,580 -
Tangible assets 4 472,667 331,184
530,247 331,184
Current assets
Debtors 5 326,462 358,930
Cash at bank and in hand 27,033 48,675
353,495 407,605
Creditors: amounts falling due within one year 6 (231,778) (203,003)
Net current assets 121,717 204,602
Total assets less current liabilities 651,964 535,786
Creditors: amounts falling due after more than one year 7 (321,262) (210,664)
Provisions for liabilities (117,250) (82,795)
Net assets 213,452 242,327
Capital and reserves
Called up share capital 200 200
Profit and loss account 213,252 242,127
Shareholders' funds 213,452 242,327
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D S Parker
Director
Approved by the board on 31 July 2024
R S EXPRESS DISTRIBUTION & HAULAGE LIMITED
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Intangibles over 10 years
Computer Equipment 15% reducing balance
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 15% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 14 13
3 Intangible fixed assets £
Licence to occupy
Cost
Additions 57,580
At 31 March 2024 57,580
Amortisation
At 31 March 2024 -
Net book value
At 31 March 2024 57,580
The licence to occupy is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 5,933 593,253 599,186
Additions 9,405 305,602 315,007
Disposals (2,700) (87,038) (89,738)
At 31 March 2024 12,638 811,817 824,455
Depreciation
At 1 April 2023 2,430 265,572 268,002
Charge for the year 2,145 133,531 135,676
On disposals (2,080) (49,810) (51,890)
At 31 March 2024 2,495 349,293 351,788
Net book value
At 31 March 2024 10,143 462,524 472,667
At 31 March 2023 3,503 327,681 331,184
5 Debtors 2024 2023
£ £
Trade debtors 257,696 281,948
Directors Loan Account - 7,452
Other debtors 68,766 69,530
326,462 358,930
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,960 9,960
Obligations under finance lease and hire purchase contracts 95,646 58,977
Trade creditors 49,264 59,967
Taxation and social security costs 12,758 25,513
Directors Loan Account 1,000 -
Other creditors 63,150 48,586
231,778 203,003
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 36,857 21,707
Obligations under finance lease and hire purchase contracts 284,405 188,957
321,262 210,664
8 Capital commitments 2024 2023
£ £
Amounts contracted for but not provided in the accounts 426,868 279,601
9 Other information
R S EXPRESS DISTRIBUTION & HAULAGE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Unit 8, Enterprise Court
Seaham Grange Industrial Estate
Seaham
County Durham
SR7 0PS
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