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REGISTERED NUMBER: 05760435 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

HAULWAYS (WEST BROMWICH) LIMITED

HAULWAYS (WEST BROMWICH) LIMITED (REGISTERED NUMBER: 05760435)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


HAULWAYS (WEST BROMWICH) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr A Bowater
Mr D Bowater
Mrs V Bowater
Mr R Bowater
Mr K Jones



REGISTERED OFFICE: Unit 5
100 Severn Stars Road
Oldbury
B69 4JU



REGISTERED NUMBER: 05760435 (England and Wales)



BANKERS: National Westminster Bank Plc
309 High Street
West Bromwich
B70 8LX



INCORPORATION: 29th March 20006

HAULWAYS (WEST BROMWICH) LIMITED (REGISTERED NUMBER: 05760435)

ABRIDGED BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 153,622 173,508
Investments 6 10,000 10,000
163,622 183,508

CURRENT ASSETS
Stocks 1,000 1,000
Debtors 208,668 241,950
Cash at bank and in hand 89,878 36,180
299,546 279,130
CREDITORS
Amounts falling due within one year 215,451 201,472
NET CURRENT ASSETS 84,095 77,658
TOTAL ASSETS LESS CURRENT
LIABILITIES

247,717

261,166

CREDITORS
Amounts falling due after more than one
year

(77,336

)

(100,335

)

PROVISIONS FOR LIABILITIES 7 (40,710 ) (32,967 )
NET ASSETS 129,671 127,864

CAPITAL AND RESERVES
Called up share capital 8 90 90
Retained earnings 129,581 127,774
SHAREHOLDERS' FUNDS 129,671 127,864

HAULWAYS (WEST BROMWICH) LIMITED (REGISTERED NUMBER: 05760435)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2024


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 directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 June 2024 and were signed on its behalf by:




Mr D Bowater - Director



Mr K Jones - Director


HAULWAYS (WEST BROMWICH) LIMITED (REGISTERED NUMBER: 05760435)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Haulways (West Bromwich) 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 represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. it is initially recognized as an asset at cost and is subsequently measured at cost less accumulated amortization and accumulated impairment losses. Goodwill is considered to have a 10 year useful life and has been amortized evenly over this period.

For the purposes of impairment testing goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 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.

Financial instruments
The company only enters into basis financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans from related parties.

HAULWAYS (WEST BROMWICH) LIMITED (REGISTERED NUMBER: 05760435)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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.

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.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 10 ) .

HAULWAYS (WEST BROMWICH) LIMITED (REGISTERED NUMBER: 05760435)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 70,000
AMORTISATION
At 1 April 2023
and 31 March 2024 70,000
NET BOOK VALUE

At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 341,780
Additions 31,321
At 31 March 2024 373,101
DEPRECIATION
At 1 April 2023 168,272
Charge for year 51,207
At 31 March 2024 219,479
NET BOOK VALUE
At 31 March 2024 153,622
At 31 March 2023 173,508

HAULWAYS (WEST BROMWICH) LIMITED (REGISTERED NUMBER: 05760435)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS - continued

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

Totals
£   
COST
At 1 April 2023 208,924
Additions 29,950
At 31 March 2024 238,874
DEPRECIATION
At 1 April 2023 63,669
Charge for year 43,801
At 31 March 2024 107,470
NET BOOK VALUE
At 31 March 2024 131,404
At 31 March 2023 145,255

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 April 2023
and 31 March 2024 10,000
NET BOOK VALUE
At 31 March 2024 10,000
At 31 March 2023 10,000

7. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 40,710 32,967

HAULWAYS (WEST BROMWICH) LIMITED (REGISTERED NUMBER: 05760435)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 32,967
Utilised during year 7,743
Balance at 31 March 2024 40,710

Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated.

Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
45 Ordinary A £1 45 45
7 Ordinary B £1 7 7
2 Ordinary C £1 2 2
18 Ordinary D £1 18 18
18 Ordinary E £1 18 18
90 90