0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 148,840 7,344 141,496 106,647 8,438 1,836 113,249 28,247 42,193 xbrli:pure xbrli:shares iso4217:GBP NI629127 2023-04-01 2024-03-31 NI629127 2024-03-31 NI629127 2023-03-31 NI629127 2022-04-01 2023-03-31 NI629127 2023-03-31 NI629127 2022-03-31 NI629127 bus:Director1 2023-04-01 2024-03-31 NI629127 core:PlantMachinery 2023-03-31 NI629127 core:PlantMachinery 2024-03-31 NI629127 core:WithinOneYear 2024-03-31 NI629127 core:WithinOneYear 2023-03-31 NI629127 core:PlantMachinery 2023-04-01 2024-03-31 NI629127 core:ShareCapital 2024-03-31 NI629127 core:ShareCapital 2023-03-31 NI629127 core:RetainedEarningsAccumulatedLosses 2024-03-31 NI629127 core:RetainedEarningsAccumulatedLosses 2023-03-31 NI629127 core:PlantMachinery 2023-03-31 NI629127 bus:SmallEntities 2023-04-01 2024-03-31 NI629127 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 NI629127 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 NI629127 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 NI629127 bus:FullAccounts 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: NI629127
Coulter Transport Ltd
Filleted Unaudited Financial Statements
31 March 2024
Coulter Transport Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
28,247
42,193
Current assets
Debtors
6
15,593
22,384
Cash at bank and in hand
16,271
11,317
--------
--------
31,864
33,701
Creditors: amounts falling due within one year
7
20,004
24,976
--------
--------
Net current assets
11,860
8,725
--------
--------
Total assets less current liabilities
40,107
50,918
--------
--------
Net assets
40,107
50,918
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
40,007
50,818
--------
--------
Shareholders funds
40,107
50,918
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Coulter Transport Ltd
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 2 September 2024 , and are signed on behalf of the board by:
Mr G Coulter
Director
Company registration number: NI629127
Coulter Transport Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland.
The address of the registered office is 39 Eden Road, Dundonald, BT5 7TD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: Nil).
5. Tangible assets
Plant and machinery
Total
£
£
Cost
At 1 April 2023
148,840
148,840
Disposals
( 7,344)
( 7,344)
---------
---------
At 31 March 2024
141,496
141,496
---------
---------
Depreciation
At 1 April 2023
106,647
106,647
Charge for the year
8,438
8,438
Disposals
( 1,836)
( 1,836)
---------
---------
At 31 March 2024
113,249
113,249
---------
---------
Carrying amount
At 31 March 2024
28,247
28,247
---------
---------
At 31 March 2023
42,193
42,193
---------
---------
6. Debtors
2024
2023
£
£
Trade debtors
15,593
22,384
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,999
3,999
Corporation tax
4,072
Social security and other taxes
7,877
7,348
Other creditors
8,128
9,557
--------
--------
20,004
24,976
--------
--------
8. Related party transactions
The company was under the control of Mr Coulter throughout the year. Mr Coulter is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under FRSSE.