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REGISTERED NUMBER: 04667677 (England and Wales)















WIXEY TRANSPORT LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






WIXEY TRANSPORT LIMITED (REGISTERED NUMBER: 04667677)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


WIXEY TRANSPORT LIMITED (REGISTERED NUMBER: 04667677)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 14,055 21,084
Tangible assets 5 1,813,941 1,391,334
1,827,996 1,412,418

CURRENT ASSETS
Stocks 20,370 14,939
Debtors 6 889,065 928,546
Cash at bank and in hand 77,994 288,873
987,429 1,232,358
CREDITORS
Amounts falling due within one year 7 806,426 678,327
NET CURRENT ASSETS 181,003 554,031
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,008,999

1,966,449

CREDITORS
Amounts falling due after more than
one year

8

(642,486

)

(333,504

)

PROVISIONS FOR LIABILITIES (290,032 ) (250,140 )
NET ASSETS 1,076,481 1,382,805

WIXEY TRANSPORT LIMITED (REGISTERED NUMBER: 04667677)

BALANCE SHEET - continued
31 MARCH 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,076,381 1,382,705
1,076,481 1,382,805

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

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

The directors acknowledge their 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.

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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2024 and were signed on its behalf by:




Ms C M Wixey - Director



R P J Wixey - Director


WIXEY TRANSPORT LIMITED (REGISTERED NUMBER: 04667677)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Wixey Transport Limited is a private company limited by shares. The company is registered in England under number 04667677 and the registered office is River Park, Stratford Road, Wellesbourne, Warwick, CV35 9HE.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Lorries, vehicles and trailers - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.


WIXEY TRANSPORT LIMITED (REGISTERED NUMBER: 04667677)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 32 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 60,000
AMORTISATION
At 1 April 2023 38,916
Amortisation for year 7,029
At 31 March 2024 45,945
NET BOOK VALUE
At 31 March 2024 14,055
At 31 March 2023 21,084

WIXEY TRANSPORT LIMITED (REGISTERED NUMBER: 04667677)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 3,490,967
Additions 918,547
Disposals (137,433 )
At 31 March 2024 4,272,081
DEPRECIATION
At 1 April 2023 2,099,633
Charge for year 455,240
Eliminated on disposal (96,733 )
At 31 March 2024 2,458,140
NET BOOK VALUE
At 31 March 2024 1,813,941
At 31 March 2023 1,391,334

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023 1,418,651
Additions 831,046
Disposals (23,995 )
Transfer to ownership (447,550 )
At 31 March 2024 1,778,152
DEPRECIATION
At 1 April 2023 571,204
Charge for year 333,242
Eliminated on disposal (11,709 )
Transfer to ownership (283,038 )
At 31 March 2024 609,699
NET BOOK VALUE
At 31 March 2024 1,168,453
At 31 March 2023 847,447

WIXEY TRANSPORT LIMITED (REGISTERED NUMBER: 04667677)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 595,563 656,150
Other debtors 293,502 272,396
889,065 928,546

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 378,864 290,799
Trade creditors 255,936 149,270
Taxation and social security 45,749 152,409
Other creditors 125,877 85,849
806,426 678,327

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Hire purchase contracts 642,486 333,504

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company made available to the directors an unsecured loan by way of advances and credits. The total of advances and credits made during the year was £147,024. The total of repayments made during the year was £176,696. Interest was charged at the official rate and there were no fixed terms of repayment.

The directors of the company are aware of the requirements of Section 197 of the Companies Act 2006 regarding approval by the members of loans to directors.

10. RELATED PARTY DISCLOSURES

Wixey Transport Limited has provided a guarantee for a loan in the sum of £1,145,929 on behalf of two of the shareholders, both of whom are directors, in connection with the construction of the yard and buildings occupied by Wixey Transport Limited.