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Registration number: 13511331

Two J's Transport Ltd

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Two J's Transport Ltd

Contents

Company Information

1

Director's Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

Two J's Transport Ltd

Company Information

Director

Mr James Thompson

Registered office

30 The Cove
Porthtowan
Truro
TR4 8FD

Accountants

Martin Fisher & Co Ltd
Chartered Certified Accountants
Woodbine Farm Bus Centre
Truro Business Park
Truro
Cornwall
TR3 6BW

 

Two J's Transport Ltd

Director's Report for the Year Ended 29 February 2024

The director presents his report and the financial statements for the year ended 29 February 2024.

Incorporation

The company was incorporated on 14 July 2021 and commenced trading on 1 March 2022

Director of the company

The director who held office during the year was as follows:

Mr James Thompson

Principal activity

The principal activity of the company is Operation of cement mixer lorry

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 24 July 2024
 

.........................................
Mr James Thompson
Director

 

Two J's Transport Ltd

(Registration number: 13511331)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

46,803

55,062

Current assets

 

Debtors

4

15,342

15,659

Cash at bank and in hand

 

1,588

4,441

 

16,930

20,100

Creditors: Amounts falling due within one year

5

(28,565)

(18,855)

Net current (liabilities)/assets

 

(11,635)

1,245

Total assets less current liabilities

 

35,168

56,307

Creditors: Amounts falling due after more than one year

5

(20,738)

(37,893)

Net assets

 

14,430

18,414

Capital and reserves

 

Called up share capital

6

1

1

Retained earnings

14,429

18,413

Shareholders' funds

 

14,430

18,414

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 24 July 2024
 

.........................................
Mr James Thompson
Director

 

Two J's Transport Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
30 The Cove
Porthtowan
Truro
TR4 8FD

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

15% reducing balance

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Two J's Transport Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Debtors

Current

2024
£

2023
£

Trade debtors

11,553

10,138

Prepayments

251

521

Other debtors

3,538

5,000

 

15,342

15,659

 

Two J's Transport Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

15,741

14,982

Trade creditors

 

1,169

463

Taxation and social security

 

11,655

3,389

Other creditors

 

-

21

 

28,565

18,855

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

20,738

37,893

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

7

Related party transactions

Key management personnel

Mr James Thompson (director)

Summary of transactions with key management

Director's loan account.
 The loan is interest free and repayable on demand of the Company. At the balance sheet date the director owed £1,534 (2023: -£23) to the Company.
 

 

Two J's Transport Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Transactions with the director

2024

At 1 March 2023
£

Advances to director
£

At 29 February 2024
£

Mr James Thompson

Director's loan account

(23)

1,557

1,534