Company Registration No. 05130174 (England and Wales)
Grey's Haulage Ltd.
Unaudited accounts
for the year ended 31 May 2024
Grey's Haulage Ltd.
Unaudited accounts
Contents
Grey's Haulage Ltd.
Company Information
for the year ended 31 May 2024
Company Number
05130174 (England and Wales)
Registered Office
QUEEN ADELAIDE FARM 54 ELY ROAD
QUEEN ADELAIDE
ELY
CAMBRIDGESHIRE
CB7 4TZ
ENGLAND
Accountants
Coles Accounting (Cambridge) Limited
Newton Hall
Town Street, Newton
Cambridge
Cambridgeshire
CB22 7ZE
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Grey's Haulage Ltd.
for the year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Grey's Haulage Ltd. for the year ended
31 May 2024 as set out on pages
5 -
8 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of Grey's Haulage Ltd., as a body, in accordance with the terms of our engagement letter dated 18 July 2020. Our work has been undertaken solely to prepare for your approval the accounts of Grey's Haulage Ltd. and state those matters that we have agreed to state to the Board of Directors of Grey's Haulage Ltd., as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Grey's Haulage Ltd. and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Grey's Haulage Ltd. has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Grey's Haulage Ltd.. You consider that Grey's Haulage Ltd. 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 accounts of Grey's Haulage Ltd.. 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 accounts.
Coles Accounting (Cambridge) Limited
Chartered Certified Accountants
Newton Hall
Town Street, Newton
Cambridge
Cambridgeshire
CB22 7ZE
5 September 2024
Grey's Haulage Ltd.
Statement of financial position
as at 31 May 2024
Tangible assets
43,927
50,817
Cash at bank and in hand
9,333
1,588
Creditors: amounts falling due within one year
(25,787)
(22,123)
Net current liabilities
(5,175)
(12,261)
Total assets less current liabilities
38,752
38,556
Creditors: amounts falling due after more than one year
(16,357)
(30,661)
Provisions for liabilities
Deferred tax
(8,154)
(9,431)
Net assets/(liabilities)
14,241
(1,536)
Called up share capital
2
2
Profit and loss account
14,239
(1,538)
Shareholders' funds
14,241
(1,536)
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 5 September 2024 and were signed on its behalf by
Michael Grey
Director
Company Registration No. 05130174
Grey's Haulage Ltd.
Notes to the Accounts
for the year ended 31 May 2024
Grey's Haulage Ltd. is a private company, limited by shares, registered in England and Wales, registration number 05130174. The registered office is QUEEN ADELAIDE FARM 54 ELY ROAD, QUEEN ADELAIDE, ELY, CAMBRIDGESHIRE, CB7 4TZ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% straight line
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Computer equipment
25% reducing balance
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Grey's Haulage Ltd.
Notes to the Accounts
for the year ended 31 May 2024
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 June 2023
1,682
11,796
160,761
4,612
178,851
Additions
-
-
8,912
735
9,647
Disposals
-
-
(7,000)
-
(7,000)
At 31 May 2024
1,682
11,796
162,673
5,347
181,498
At 1 June 2023
504
11,310
112,332
3,888
128,034
Charge for the year
168
156
10,598
365
11,287
On disposals
-
-
(1,750)
-
(1,750)
At 31 May 2024
672
11,466
121,180
4,253
137,571
At 31 May 2024
1,010
330
41,493
1,094
43,927
At 31 May 2023
1,178
486
48,429
724
50,817
Amounts falling due within one year
Trade debtors
11,279
8,274
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
4,000
4,000
Obligations under finance leases and hire purchase contracts
9,225
12,491
Trade creditors
3,301
1,947
Taxes and social security
4,925
(155)
Loans from directors
117
206
Grey's Haulage Ltd.
Notes to the Accounts
for the year ended 31 May 2024
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
12,024
22,328
8
Average number of employees
During the year the average number of employees was 1 (2023: 2).