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REGISTERED NUMBER: SC230852 (Scotland)







Unaudited Financial Statements

For The Year Ended 31st May 2024

for

Craighead Transport Ltd

Craighead Transport Ltd (Registered number: SC230852)






Contents of the Financial Statements
For The Year Ended 31st May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 6

Craighead Transport Ltd

Company Information
For The Year Ended 31st May 2024







DIRECTOR: F J Doonin



SECRETARY: Mrs C Doonin



REGISTERED OFFICE: 8 Douglas Street
Hamilton
Lanarkshire
ML3 0BP



REGISTERED NUMBER: SC230852 (Scotland)



ACCOUNTANTS: J S Mackie & Co Ltd
8 Douglas Street
Hamilton
Lanarkshire
ML3 0BP



BANKERS: Clydesdale Bank
227 Glasgow Road
Blantyre
G72 0YS

Craighead Transport Ltd (Registered number: SC230852)

Balance Sheet
31st May 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 404,131 396,967

CURRENT ASSETS
Debtors 5 150,367 73,857
Cash at bank 68,340 122,173
218,707 196,030
CREDITORS
Amounts falling due within one year 6 (160,474 ) (124,283 )
NET CURRENT ASSETS 58,233 71,747
TOTAL ASSETS LESS CURRENT
LIABILITIES

462,364

468,714

CREDITORS
Amounts falling due after more than one
year

7

(44,384

)

(66,077

)

PROVISIONS FOR LIABILITIES (41,637 ) -
NET ASSETS 376,343 402,637

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 376,243 402,537
SHAREHOLDERS' FUNDS 376,343 402,637

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Craighead Transport Ltd (Registered number: SC230852)

Balance Sheet - continued
31st May 2024


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 director and authorised for issue on 4th September 2024 and were signed by:





F J Doonin - Director


Craighead Transport Ltd (Registered number: SC230852)

Notes to the Financial Statements
For The Year Ended 31st May 2024

1. STATUTORY INFORMATION

Craighead Transport Ltd is a private company, limited by shares , registered in Scotland. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

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.

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 8 (2023 - 8 ) .

Craighead Transport Ltd (Registered number: SC230852)

Notes to the Financial Statements - continued
For The Year Ended 31st May 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 1st June 2023 228,176 454,367 682,543
Additions - 51,622 51,622
At 31st May 2024 228,176 505,989 734,165
DEPRECIATION
At 1st June 2023 - 285,576 285,576
Charge for year - 44,458 44,458
At 31st May 2024 - 330,034 330,034
NET BOOK VALUE
At 31st May 2024 228,176 175,955 404,131
At 31st May 2023 228,176 168,791 396,967

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 143,684 66,889
Other debtors 6,683 6,968
150,367 73,857

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 6,000 6,000
Hire purchase contracts 22,040 27,936
Trade creditors 14,826 3,437
Taxation and social security 101,968 73,866
Other creditors 15,640 13,044
160,474 124,283

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 6,026 12,039
Hire purchase contracts 38,358 54,038
44,384 66,077

Craighead Transport Ltd

Report of the Accountants to the Director of
Craighead Transport Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st May 2024 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






J S Mackie & Co Ltd
8 Douglas Street
Hamilton
Lanarkshire
ML3 0BP


4th September 2024