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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
Page
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2 Sisters Haulage Ltd Company Information for the year ended 29 February 2024
Director
Stephanie Pearce
Company Number
11851285 (England and Wales)
Registered Office
4 Penmaen Road Blackwood NP12 2GR
Accountants
Evans Entwistle Venta House Maes-glas Newport NP20 2NS
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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
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2 Sisters Haulage Ltd Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
117,003 
107,287 
Current assets
Debtors
58,511 
64,647 
Cash at bank and in hand
44,894 
27,177 
103,405 
91,824 
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
Deferred tax
(22,231)
- 
Net assets
92,333 
100,147 
Capital and reserves
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
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2 Sisters Haulage Ltd Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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 taxation
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.
Leased assets
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.
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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 
Depreciation
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 
Net book value
At 29 February 2024
7,783 
109,220 
117,003 
At 28 February 2023
- 
107,287 
107,287 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
1 
Trade debtors
53,129 
54,912 
53,129 
54,913 
Amounts falling due after more than one year
Other debtors
5,382 
9,734 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
20,188 
15,814 
Obligations under finance leases and hire purchase contracts
- 
9,296 
Trade creditors
- 
1,343 
Taxes and social security
6,748 
1,231 
Other creditors
3,837 
3,740 
Accruals
1,800 
1,800 
32,573 
33,224 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
18,101 
21,934 
Obligations under finance leases and hire purchase contracts
55,170 
43,806 
73,271 
65,740 
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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 
- 
2024 
2023 
£ 
£ 
Provision at start of year
- 
900 
Charged/(credited) to the profit and loss account
22,231 
(900)
Provision at end of year
22,231 
- 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
10
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Stephanie Pearce
general loan outstanding
9,734 
- 
4,350 
5,384 
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).
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