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Registration number: 05318128

UK Loco Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

UK Loco Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

UK Loco Limited

Company Information

Directors

SM Watson

SJ Pagett

D Singleton

Registered office

Apple Tree Cottage
Milcote Road Milcote
Stratford Upon Avon
Warwickshire
CV37 8JN

Accountants

Clement Rabjohns Limited
Chartered Accountants
111/113 High Street
Evesham
Worcestershire
WR11 4XP

 

UK Loco Limited

(Registration number: 05318128)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

90,376

67,104

Current assets

 

Stocks

5

30,000

176,706

Debtors

6

671,424

333,185

Cash at bank and in hand

 

376

25,379

 

701,800

535,270

Creditors: Amounts falling due within one year

7

(440,408)

(329,783)

Net current assets

 

261,392

205,487

Total assets less current liabilities

 

351,768

272,591

Provisions for liabilities

(5,848)

-

Net assets

 

345,920

272,591

Capital and reserves

 

Called up share capital

100

100

Retained earnings

345,820

272,491

Shareholders' funds

 

345,920

272,591

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 October 2024 and signed on its behalf by:
 

 

UK Loco Limited

(Registration number: 05318128)
Balance Sheet as at 31 January 2024

.........................................
SM Watson
Director

 

UK Loco Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
Apple Tree Cottage
Milcote Road Milcote
Stratford Upon Avon
Warwickshire
CV37 8JN

These financial statements were authorised for issue by the Board on 14 October 2024.

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

UK Loco Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Land and buildings

over the lease term

Plant and machinery

over 10 years

Motor vehicles

over 4 years

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

UK Loco Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 27 (2023 - 25).

 

UK Loco Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2023

7,767

217,238

43,039

268,044

Additions

-

18,400

14,450

32,850

Disposals

-

-

(16,995)

(16,995)

At 31 January 2024

7,767

235,638

40,494

283,899

Depreciation

At 1 February 2023

7,767

150,134

43,039

200,940

Charge for the year

-

9,277

301

9,578

Eliminated on disposal

-

-

(16,995)

(16,995)

At 31 January 2024

7,767

159,411

26,345

193,523

Carrying amount

At 31 January 2024

-

76,227

14,149

90,376

At 31 January 2023

-

67,104

-

67,104

5

Stocks

2024
£

2023
£

Work in progress

-

146,706

Other inventories

30,000

30,000

30,000

176,706

6

Debtors

Current

2024
£

2023
£

Trade debtors

640,071

278,787

Prepayments

7,231

53,727

Other debtors

24,122

671

 

671,424

333,185

 

UK Loco Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

147,370

110,410

Trade creditors

 

163,019

187,623

Taxation and social security

 

22,357

26,377

Accruals and deferred income

 

8,362

2,100

Other creditors

 

99,300

3,273

 

440,408

329,783

Creditors include bank loans and overdrafts which are secured of £147,370 (2023 - £110,410).

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

147,370

110,410