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REGISTERED NUMBER: 05021139 (England and Wales)













Unaudited Financial Statements for the Year Ended 31 May 2024

for

Truckwise (UK) Limited

Truckwise (UK) Limited (Registered number: 05021139)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Truckwise (UK) Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: D R Turner
S A Burton





SECRETARY: G Burton





REGISTERED OFFICE: Unit 11
Perry Street Industrial Estate
Perry Street
Bilston
West Midlands
WV14 8RP





REGISTERED NUMBER: 05021139 (England and Wales)





ACCOUNTANTS: Wilkes Tranter & Co Limited
Brook House
Moss Grove
Kingswinford
West Midlands
DY6 9HS

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Truckwise (UK) Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Directors' Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Truckwise (UK) Limited for the year ended 31 May 2024 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Truckwise (UK) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Truckwise (UK) Limited and state those matters that we have agreed to state to the Board of Directors of Truckwise (UK) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Truckwise (UK) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Truckwise (UK) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Truckwise (UK) Limited. You consider that Truckwise (UK) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Truckwise (UK) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wilkes Tranter & Co Limited
Brook House
Moss Grove
Kingswinford
West Midlands
DY6 9HS


4 October 2024

Truckwise (UK) Limited (Registered number: 05021139)

Balance Sheet
31 May 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 47,467 52,577

CURRENT ASSETS
Stocks 236,000 221,000
Debtors 5 281,049 257,794
Cash at bank 1,773 -
518,822 478,794
CREDITORS
Amounts falling due within one year 6 (444,331 ) (409,975 )
NET CURRENT ASSETS 74,491 68,819
TOTAL ASSETS LESS CURRENT
LIABILITIES

121,958

121,396

CREDITORS
Amounts falling due after more than
one year

7

(29,203

)

(32,839

)

PROVISIONS FOR LIABILITIES (11,867 ) (10,144 )
NET ASSETS 80,888 78,413

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 9 25,378 25,378
Retained earnings 55,410 52,935
80,888 78,413

Truckwise (UK) Limited (Registered number: 05021139)

Balance Sheet - continued
31 May 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 4 October 2024 and were signed on its behalf by:





D R Turner - Director


Truckwise (UK) Limited (Registered number: 05021139)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Truckwise (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - straight line over 3 years
Motor vehicles - 25% 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.

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.

Truckwise (UK) Limited (Registered number: 05021139)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 June 2023 63,143 9,228 65,231 137,602
Additions 7,436 140 - 7,576
Disposals - - (31,090 ) (31,090 )
At 31 May 2024 70,579 9,368 34,141 114,088
DEPRECIATION
At 1 June 2023 28,696 9,228 47,101 85,025
Charge for year 1,825 27 2,432 4,284
Eliminated on disposal - - (22,688 ) (22,688 )
At 31 May 2024 30,521 9,255 26,845 66,621
NET BOOK VALUE
At 31 May 2024 40,058 113 7,296 47,467
At 31 May 2023 34,447 - 18,130 52,577

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 278,876 255,014
Other debtors 2,173 2,780
281,049 257,794

Truckwise (UK) Limited (Registered number: 05021139)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,412 72,342
Trade creditors 325,610 269,069
Taxation and social security 66,690 51,631
Other creditors 47,619 16,933
444,331 409,975

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 29,203 32,839

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft - 66,465
Bank loans 33,615 38,716
33,615 105,181

The bank loan is secured by a fixed and floating charge over the company's assets.

9. RESERVES
Revaluation
reserve
£   
At 1 June 2023
and 31 May 2024 25,378