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Company No: 04783009 (England and Wales)

D H TRANSPORT & SONS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

D H TRANSPORT & SONS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

D H TRANSPORT & SONS LIMITED

BALANCE SHEET

As at 31 March 2024
D H TRANSPORT & SONS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 48,592 79,282
Tangible assets 4 539,195 488,824
587,787 568,106
Current assets
Debtors 5 256,117 255,884
Cash at bank and in hand 20,907 17,024
277,024 272,908
Creditors: amounts falling due within one year 6 ( 300,074) ( 317,464)
Net current liabilities (23,050) (44,556)
Total assets less current liabilities 564,737 523,550
Creditors: amounts falling due after more than one year 7 ( 423,297) ( 403,766)
Provision for liabilities ( 132,497) ( 115,240)
Net assets 8,943 4,544
Capital and reserves
Called-up share capital 8 500 500
Profit and loss account 8,443 4,044
Total shareholders' funds 8,943 4,544

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of D H Transport & Sons Limited (registered number: 04783009) were approved and authorised for issue by the Board of Directors on 24 September 2024. They were signed on its behalf by:

H Holland
Director
D H TRANSPORT & SONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
D H TRANSPORT & SONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

D H Transport & Sons Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 40 Woodburn Avenue, Earlsheaton, Dewsbury, West Yorkshire, WF12 8LJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Factoring

The factoring creditor represents amounts received in respect of financed debts. There is full recourse to the company for losses of debts and therefore the financed debts are recognised in the balance sheet. Interest and other charges relating to factoring are recognised as an expense in the profit and loss account over the relevant period.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 9 10

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2023 306,900 306,900
At 31 March 2024 306,900 306,900
Accumulated amortisation
At 01 April 2023 227,618 227,618
Charge for the financial year 30,690 30,690
At 31 March 2024 258,308 258,308
Net book value
At 31 March 2024 48,592 48,592
At 31 March 2023 79,282 79,282

4. Tangible assets

Plant and machinery Vehicles Computer equipment Total
£ £ £ £
Cost
At 01 April 2023 109,890 814,335 8,493 932,718
Additions 42,500 145,370 699 188,569
Disposals 0 ( 17,500) 0 ( 17,500)
At 31 March 2024 152,390 942,205 9,192 1,103,787
Accumulated depreciation
At 01 April 2023 33,774 404,231 5,889 443,894
Charge for the financial year 20,581 107,866 1,548 129,995
Disposals 0 ( 9,297) 0 ( 9,297)
At 31 March 2024 54,355 502,800 7,437 564,592
Net book value
At 31 March 2024 98,035 439,405 1,755 539,195
At 31 March 2023 76,116 410,104 2,604 488,824
Leased assets included above:
Net book value
At 31 March 2024 60,712 225,526 0 286,238
At 31 March 2023 37,797 272,967 0 310,763

5. Debtors

2024 2023
£ £
Trade debtors 246,784 255,884
Prepayments 9,333 0
256,117 255,884

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 15,579 13,454
Trade creditors 53,910 26,057
Amounts owed to directors 29,733 54,351
Accruals 4,816 4,365
Taxation and social security 62,597 67,406
Obligations under finance leases and hire purchase contracts 117,304 109,346
Other creditors 16,135 42,485
300,074 317,464

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured £ 13,699) 32,065 49,932
Obligations under finance leases and hire purchase contracts (secured) 270,732 233,334
Other creditors 120,500 120,500
423,297 403,766

Bank loans with a carrying value of £47,645 (2023 - £63,386) are secured by way of fixed and floating charges on the Company’s property and assets.

The proceeds of factored debts of £Nil (2023 - £6,378) are secured by a legal charge over the debt to which they relate.

Hire purchase liabilities with a carrying value of £283,035 (2023 - £344,138) are secured on the assets to which they relate.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
250 A ordinary shares of £ 1.00 each 250 250
250 B ordinary shares of £ 1.00 each 250 250
500 500

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 56,000 0
between one and five years 219,334 0
275,334 0

10. Related party transactions

At the year end, the directors were owed £29,732 by the company (2023 £54,351).