Registered number
10009430
Endeavour Transport Limited
Unaudited Filleted Accounts
29 February 2024
Endeavour Transport Limited
Registered number: 10009430
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 109,198 40,246
Current assets
Debtors 5 542,125 526,738
Cash at bank and in hand 252,650 80,912
794,775 607,650
Creditors: amounts falling due within one year 6 (546,616) (467,900)
Net current assets 248,159 139,750
Total assets less current liabilities 357,357 179,996
Creditors: amounts falling due after more than one year 7 (189,901) (178,646)
Provisions for liabilities (19,568) -
Net assets 147,888 1,350
Capital and reserves
Called up share capital 202 202
Profit and loss account 147,686 1,148
Shareholders' funds 147,888 1,350
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M R Sweet
Director
Approved by the board on 11 June 2024
Endeavour Transport Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor vehicles 20% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Exceptional items 2024 2023
£ £
Loss on directors loan account write off 113,452 57,965
Loss on company loan write off - -
113,452 57,965
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 5
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2023 13,884 35,000 48,884
Additions 1,667 77,309 78,976
At 29 February 2024 15,551 112,309 127,860
Depreciation
At 1 March 2023 8,638 - 8,638
Charge for the year 1,729 8,295 10,024
At 29 February 2024 10,367 8,295 18,662
Net book value
At 29 February 2024 5,184 104,014 109,198
At 28 February 2023 5,246 35,000 40,246
5 Debtors 2024 2023
£ £
Trade debtors 463,653 412,890
Other debtors 78,472 113,848
542,125 526,738
6 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 22,304 -
Trade creditors 328,361 347,956
Taxation and social security costs 147,272 72,015
Other creditors 48,679 47,929
546,616 467,900
7 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 55,005 -
Other creditors 134,896 178,646
189,901 178,646
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Directors
Loans to directors 113,452 210,629 (246,048) 78,033
113,452 210,629 (246,048) 78,033
9 Other information
Endeavour Transport Limited is a private company limited by shares and incorporated in England. Its registered office is:
Swan House, Bosworth Hall
Market Bosworth
Nuneaton
Warwickshire
CV13 0LJ
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