Company registration number 00458005 (England and Wales)
K.& M. (HAULIERS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
K.& M. (HAULIERS) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
K.& M. (HAULIERS) LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
954,662
953,409
Current assets
Stocks
56,897
65,701
Debtors
4
1,040,938
1,026,005
Cash at bank and in hand
281,154
272,365
1,378,989
1,364,071
Creditors: amounts falling due within one year
5
(2,196,721)
(2,214,105)
Net current liabilities
(817,732)
(850,034)
Net assets
136,930
103,375
Capital and reserves
Called up share capital
593,330
593,330
Profit and loss reserves
(456,400)
(489,955)
Total equity
136,930
103,375

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 9 October 2024
D R T Gibbons
Director
Company registration number 00458005 (England and Wales)
K.& M. (HAULIERS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

K.& M. (Hauliers) Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Aerodrome, Watnall Road, Hucknall, Nottingham, NG15 6EN. The company registration number is 00458005.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The Balance Sheet includes amounts due to the director D R T Gibbons , amounting to £1,true462,084 (2022: £1,522,084). D R T Gibbons has confirmed that with regards to the liquidity situation of the company, the actual amounts owing to them will be paid as and when funds permit. The accounts have therefore been prepared on a going concern basis.

1.3
Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

 

Rendering of services

 

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property
2% straight line
Plant and machinery
10-50% straight line
Motor vehicles
10-50% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

K.& M. (HAULIERS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments
Basic financial assets

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Basic financial liabilities

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest method. Loans and borrowings that are receivable within one year are not discounted. If an arrangement constitutes a finance transaction it is measured at present value of future payments discounted at a market rate of interest for a similar loan.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

 

 

K.& M. (HAULIERS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
7
8
3
Tangible fixed assets
Freehold property
Plant and machinery
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2023
987,000
158,738
66,913
1,212,651
Additions
-
0
12,500
3,450
15,950
Disposals
-
0
(1)
(31,768)
(31,769)
At 31 December 2023
987,000
171,237
38,595
1,196,832
Depreciation and impairment
At 1 January 2023
44,917
149,667
64,658
259,242
Depreciation charged in the year
7,000
6,940
751
14,691
Eliminated in respect of disposals
-
0
-
0
(31,763)
(31,763)
At 31 December 2023
51,917
156,607
33,646
242,170
Carrying amount
At 31 December 2023
935,083
14,630
4,949
954,662
At 31 December 2022
942,083
9,071
2,255
953,409
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
778,833
751,816
Other debtors
262,105
274,189
1,040,938
1,026,005
K.& M. (HAULIERS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
206,707
192,359
Corporation tax
643
67
Other taxation and social security
3,496
24,569
Other creditors
1,985,875
1,997,110
2,196,721
2,214,105
6
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
5,432
-
0
7
Related party transactions

All transactions that took place were on normal commercial terms and on an arms length basis and therefore no further disclosure is required by FRS102 Section 1A

8
Events after the reporting date

On 9 January 2024 the trade and assets of the company were sold.

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