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Registered number: 07550702
UK Truck Sales Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Stranton Business Centre
AAT
47-49 Stockton Road
Hartlepool
TS25 1TX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07550702
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,910 8,427
6,910 8,427
CURRENT ASSETS
Debtors 5 47,445 33,154
Cash at bank and in hand 12,590 18,213
60,035 51,367
Creditors: Amounts Falling Due Within One Year 6 (58,941 ) (71,187 )
NET CURRENT ASSETS (LIABILITIES) 1,094 (19,820 )
TOTAL ASSETS LESS CURRENT LIABILITIES 8,004 (11,393 )
NET ASSETS/(LIABILITIES) 8,004 (11,393 )
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 8,003 (11,394 )
SHAREHOLDERS' FUNDS 8,004 (11,393)
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Andrew Benson
Director
11th September 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
UK Truck Sales Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07550702 . The registered office is Bensons Coal Yard, Casebourne Road, Hartlepool , TS25 1PJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Ladysmith property
Plant & Machinery Machinery
Motor Vehicles Van
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 April 2023 914 30,136 31,050
As at 31 March 2024 914 30,136 31,050
Depreciation
As at 1 April 2023 914 21,709 22,623
Provided during the period - 1,517 1,517
As at 31 March 2024 914 23,226 24,140
Net Book Value
As at 31 March 2024 - 6,910 6,910
As at 1 April 2023 - 8,427 8,427
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Page 4
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 47,445 27,774
VAT - 5,380
47,445 33,154
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 1
Bank loans and overdrafts 32,198 11,665
Corporation tax 1,971 -
VAT 1,374 -
Other creditors 1,137 37,090
Accruals and deferred income 870 1,040
Director's loan account 21,391 21,391
58,941 71,187
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 4