Company Registration No. 11851285 (England and Wales)
2 Sisters Haulage Ltd
Unaudited accounts
for the year ended 29 February 2024
2 Sisters Haulage Ltd
Unaudited accounts
Contents
2 Sisters Haulage Ltd
Company Information
for the year ended 29 February 2024
Company Number
11851285 (England and Wales)
Registered Office
4 Penmaen Road
Blackwood
NP12 2GR
Accountants
Evans Entwistle
Venta House
Maes-glas
Newport
NP20 2NS
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
2 Sisters Haulage Ltd
for the year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of 2 Sisters Haulage Ltd for the year ended 29 February 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle
Member in Practice
Venta House
Maes-glas
Newport
NP20 2NS
8 August 2024
2 Sisters Haulage Ltd
Statement of financial position
as at 29 February 2024
Tangible assets
117,003
107,287
Cash at bank and in hand
44,894
27,177
Creditors: amounts falling due within one year
(32,573)
(33,224)
Net current assets
70,832
58,600
Total assets less current liabilities
187,835
165,887
Creditors: amounts falling due after more than one year
(73,271)
(65,740)
Provisions for liabilities
Called up share capital
2
2
Profit and loss account
92,331
100,145
Shareholders' funds
92,333
100,147
For the year ending 29 February 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 her 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 8 August 2024 and were signed on its behalf by
Stephanie Pearce
Director
Company Registration No. 11851285
2 Sisters Haulage Ltd
Notes to the Accounts
for the year ended 29 February 2024
2 Sisters Haulage Ltd is a private company, limited by shares, registered in England and Wales, registration number 11851285. The registered office is 4 Penmaen Road, Blackwood, NP12 2GR.
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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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:
Motor vehicles
5 Years Straight Line
Computer equipment
3 Years Straight Line
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.
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.
2 Sisters Haulage Ltd
Notes to the Accounts
for the year ended 29 February 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 March 2023
-
128,495
128,495
Additions
8,000
77,230
85,230
Disposals
-
(67,995)
(67,995)
At 29 February 2024
8,000
137,730
145,730
At 1 March 2023
-
21,208
21,208
Charge for the year
217
21,501
21,718
On disposals
-
(14,199)
(14,199)
At 29 February 2024
217
28,510
28,727
At 29 February 2024
7,783
109,220
117,003
At 28 February 2023
-
107,287
107,287
Amounts falling due within one year
Trade debtors
53,129
54,912
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
-
9,296
Taxes and social security
6,748
1,231
Other creditors
3,837
3,740
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
55,170
43,806
2 Sisters Haulage Ltd
Notes to the Accounts
for the year ended 29 February 2024
8
Deferred taxation
2024
2023
Accelerated capital allowances
22,231
-
Provision at start of year
-
900
Charged/(credited) to the profit and loss account
22,231
(900)
Provision at end of year
22,231
-
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
general loan outstanding
9,734
-
4,350
5,384
The balance represents an interest free loan that is repayable to the company upon demand.
11
Average number of employees
During the year the average number of employees was 2 (2023: 3).