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REGISTERED NUMBER: 03414776 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 November 2023

for

John Reid Trucking Limited

John Reid Trucking Limited (Registered number: 03414776)






Contents of the Financial Statements
for the Year Ended 29 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


John Reid Trucking Limited

Company Information
for the Year Ended 29 November 2023







DIRECTORS: J M Reid
Mrs B Reid
O J Reid
Mrs C L Levesley





SECRETARY: Mrs B Reid





REGISTERED OFFICE: 4 Atherton Way
Brigg
North Lincolnshire
DN20 8AR





REGISTERED NUMBER: 03414776 (England and Wales)






John Reid Trucking Limited (Registered number: 03414776)

Balance Sheet
29 November 2023

29.11.23 29.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 143,991 190,745

CURRENT ASSETS
Stocks 35,750 34,500
Debtors 5 1,284,990 1,324,936
Cash at bank 29,750 10,400
1,350,490 1,369,836
CREDITORS
Amounts falling due within one year 6 1,899,111 1,929,631
NET CURRENT LIABILITIES (548,621 ) (559,795 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(404,630

)

(369,050

)

CREDITORS
Amounts falling due after more than one
year

7

44,172

63,821
NET LIABILITIES (448,802 ) (432,871 )

CAPITAL AND RESERVES
Called up share capital 80,002 80,002
Retained earnings (528,804 ) (512,873 )
SHAREHOLDERS' FUNDS (448,802 ) (432,871 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 November 2023 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.

John Reid Trucking Limited (Registered number: 03414776)

Balance Sheet - continued
29 November 2023


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

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 18 September 2024 and were signed on its behalf by:





J M Reid - Director


John Reid Trucking Limited (Registered number: 03414776)

Notes to the Financial Statements
for the Year Ended 29 November 2023

1. STATUTORY INFORMATION

John Reid Trucking 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents net invoiced sales of services, excluding value added tax.

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 etc - 20% on reducing balance and 15% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Stock is valued on a first in first out basis

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.

John Reid Trucking Limited (Registered number: 03414776)

Notes to the Financial Statements - continued
for the Year Ended 29 November 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 53 (2022 - 54 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 30 November 2022 812,084
Additions 1,049
Disposals (143,055 )
At 29 November 2023 670,078
DEPRECIATION
At 30 November 2022 621,339
Charge for year 35,153
Eliminated on disposal (130,405 )
At 29 November 2023 526,087
NET BOOK VALUE
At 29 November 2023 143,991
At 29 November 2022 190,745

John Reid Trucking Limited (Registered number: 03414776)

Notes to the Financial Statements - continued
for the Year Ended 29 November 2023

4. TANGIBLE FIXED ASSETS - continued

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

Plant and
machinery
etc
£   
COST
At 30 November 2022
and 29 November 2023 103,000
DEPRECIATION
At 30 November 2022 15,450
Charge for year 17,510
At 29 November 2023 32,960
NET BOOK VALUE
At 29 November 2023 70,040
At 29 November 2022 87,550

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.11.23 29.11.22
£    £   
Trade debtors 1,102,011 1,148,883
Other debtors 182,979 176,053
1,284,990 1,324,936

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.11.23 29.11.22
£    £   
Bank loans and overdrafts 21,711 16,574
Hire purchase contracts 19,643 19,637
Trade creditors 765,189 714,910
Taxation and social security 113,095 156,610
Other creditors 979,473 1,021,900
1,899,111 1,929,631

Included in creditors due within one year are secured liabilities of £63,516 (2022: £99,827). Other creditors includes £839,086 (2022: £863,470) which has been drawn down on the factored debts.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.11.23 29.11.22
£    £   
Hire purchase contracts 44,172 63,821

John Reid Trucking Limited (Registered number: 03414776)

Notes to the Financial Statements - continued
for the Year Ended 29 November 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

29.11.23 29.11.22
£    £   
Hire purchase contracts 63,815 83,458

Obligations under HP are secured on the assets to which they relate.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 November 2023 and 29 November 2022:

29.11.23 29.11.22
£    £   
J M Reid
Balance outstanding at start of year 17,365 14,150
Amounts advanced 8,368 8,215
Amounts repaid - (5,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 25,733 17,365

O J Reid
Balance outstanding at start of year 1,630 1,630
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,630 1,630

Interest has been charged at 2.25% per annum on the overdrawn balances where the loan exceeds the de minimus threshold. The budget has been charged at the official rate of interest. The total interest charged in the year was £491 (2022: £339)

10. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.

11. GOING CONCERN

The directors have a reasonable expectation from the company's forecasts and projections that there are adequate resources to continue in operational existence for the foreseeable future. Therefore they continue to adopt the going concern basis of accounting in preparing financial statements.