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REGISTERED NUMBER: 02225131 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

AXLE HAULAGE LIMITED

AXLE HAULAGE LIMITED (REGISTERED NUMBER: 02225131)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


AXLE HAULAGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: B Jordan
S L Thompson
P R Bishop
A B Scottow





REGISTERED OFFICE: Church View Chambers
38 Market Square
Toddington
Bedfordshire
LU5 6BS





REGISTERED NUMBER: 02225131 (England and Wales)





ACCOUNTANTS: Landers Accountants Ltd
Church View Chambers
38 Market Square
Toddington
Bedfordshire
LU5 6BS

AXLE HAULAGE LIMITED (REGISTERED NUMBER: 02225131)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,019,567 1,620,712

CURRENT ASSETS
Debtors 5 1,160,965 1,498,467
Cash at bank 702,760 606,031
1,863,725 2,104,498
CREDITORS
Amounts falling due within one year 6 1,233,323 1,302,617
NET CURRENT ASSETS 630,402 801,881
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,649,969

2,422,593

CREDITORS
Amounts falling due after more than one
year

7

(665,714

)

(482,378

)

PROVISIONS FOR LIABILITIES (471,597 ) (372,959 )
NET ASSETS 1,512,658 1,567,256

CAPITAL AND RESERVES
Called up share capital 9 1,433 1,433
Share premium 9,990 9,990
Capital redemption reserve 567 567
Retained earnings 1,500,668 1,555,266
SHAREHOLDERS' FUNDS 1,512,658 1,567,256

AXLE HAULAGE LIMITED (REGISTERED NUMBER: 02225131)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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 Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 1 October 2024 and were signed on its behalf by:





B Jordan - Director


AXLE HAULAGE LIMITED (REGISTERED NUMBER: 02225131)

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

1. STATUTORY INFORMATION

Axle Haulage Limited is a private company, limited by shares, registered in England and Wales. Its registered office is Church View Chambers, 38 Market Square, Toddington, Dunstable, Bedfordshire, LU5 6BS.

Its principal place of business is 72-76 Union St, Dunstable LU6 1EY.

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 and on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on cost
Motor vehicles - 25% on reducing balance
Office equipment - 25% on reducing balance and 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

AXLE HAULAGE LIMITED (REGISTERED NUMBER: 02225131)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2023 - 36 ) .

4. TANGIBLE FIXED ASSETS
Short Motor Office
leasehold vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 1,850 3,676,487 79,727 3,758,064
Additions - 1,128,887 1,159 1,130,046
Disposals - (691,163 ) - (691,163 )
At 31 March 2024 1,850 4,114,211 80,886 4,196,947
DEPRECIATION
At 1 April 2023 493 2,076,180 60,679 2,137,352
Charge for year 370 575,578 4,354 580,302
Eliminated on disposal - (540,274 ) - (540,274 )
At 31 March 2024 863 2,111,484 65,033 2,177,380
NET BOOK VALUE
At 31 March 2024 987 2,002,727 15,853 2,019,567
At 31 March 2023 1,357 1,600,307 19,048 1,620,712


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 984,974 1,342,428
Other debtors 175,991 156,039
1,160,965 1,498,467

AXLE HAULAGE LIMITED (REGISTERED NUMBER: 02225131)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 357,326 149,452
Trade creditors 474,699 747,636
Taxation and social security 239,203 250,646
Other creditors 162,095 154,883
1,233,323 1,302,617

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 665,714 482,378

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 1,023,040 631,830

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
NIL Ordinary £1 - 1,433
(31.3.23 -
1,433 )
1,081 Ordinary A £1 1,081 -
352 Ordinary B £1 352 -
1,433 1,433

On 21 April 2023, the shares were reclassified from Ordinary shares to Ordinary A and Ordinary B shares.

AXLE HAULAGE LIMITED (REGISTERED NUMBER: 02225131)

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

10. RELATED PARTY DISCLOSURES

The Axle Haulage Limited Employee Ownership Trust was established by deed on 30 March 2021. On 31 March 2021 a debenture was created in accordance with the terms and conditions of the deed, such that the company agrees to provide security (by way of a fixed and floating charge over property, book debts and company assets) to a director in respect of the payment of deferred consideration due from the trust to one of the directors as set out in the Share Purchase Agreement over the four years to 31 March 2025.
As at 31 March 2024 the outstanding deferred consideration totalled £493,303 (2023: £998,823) and Gifts to the Employee Ownership Trust made during the financial year amounted to £505,520 (2023: £517,738).

On 4 April 2023, a director and shareholder sold part of their shareholding to The Axle Haulage Limited Employee Ownership Trust. At 31 March 2024, deferred consideration due from this trust to the director, totalled £183,813 and this was agreed to be paid over a three year period in equal instalments commencing April 2024.