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REGISTERED NUMBER: 02645578 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 January 2024

for

EXTRAQUICK TRANSPORT LIMITED

EXTRAQUICK TRANSPORT LIMITED (REGISTERED NUMBER: 02645578)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EXTRAQUICK TRANSPORT LIMITED

Company Information
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: N Singh





REGISTERED OFFICE: 17 Spencefield Lane
Leicester
Leicestershire
LE5 6PT





REGISTERED NUMBER: 02645578 (England and Wales)





ACCOUNTANTS: K G Solanki & Co.
Hamilton House
315 St Saviours Road
Leicester
Leicestershire
LE5 4HG

EXTRAQUICK TRANSPORT LIMITED (REGISTERED NUMBER: 02645578)

Balance Sheet
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 159,228 153,093

CURRENT ASSETS
Debtors 5 276,641 322,439
Cash at bank and in hand 193,045 324,903
469,686 647,342
CREDITORS
Amounts falling due within one year 6 121,531 128,323
NET CURRENT ASSETS 348,155 519,019
TOTAL ASSETS LESS CURRENT
LIABILITIES

507,383

672,112

CREDITORS
Amounts falling due after more than
one year

7

(40,175

)

(58,059

)

PROVISIONS FOR LIABILITIES (30,256 ) (29,088 )
NET ASSETS 436,952 584,965

EXTRAQUICK TRANSPORT LIMITED (REGISTERED NUMBER: 02645578)

Balance Sheet - continued
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 436,652 584,665
SHAREHOLDERS' FUNDS 436,952 584,965

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

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

The director acknowledges his 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 by the director and authorised for issue on 21 October 2024 and were signed by:





N Singh - Director


EXTRAQUICK TRANSPORT LIMITED (REGISTERED NUMBER: 02645578)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Extraquick Transport 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% 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 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.

EXTRAQUICK TRANSPORT LIMITED (REGISTERED NUMBER: 02645578)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

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.

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 18 (2023 - 21 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 February 2023 8,747 334,595 343,342
Additions 2,214 67,000 69,214
Disposals - (32,000 ) (32,000 )
At 31 January 2024 10,961 369,595 380,556
DEPRECIATION
At 1 February 2023 5,543 184,706 190,249
Charge for year 813 51,541 52,354
Eliminated on disposal - (21,275 ) (21,275 )
At 31 January 2024 6,356 214,972 221,328
NET BOOK VALUE
At 31 January 2024 4,605 154,623 159,228
At 31 January 2023 3,204 149,889 153,093

EXTRAQUICK TRANSPORT LIMITED (REGISTERED NUMBER: 02645578)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 February 2023 234,645
Additions 19,500
Disposals (16,000 )
At 31 January 2024 238,145
DEPRECIATION
At 1 February 2023 118,830
Charge for year 39,516
Eliminated on disposal (9,250 )
At 31 January 2024 149,096
NET BOOK VALUE
At 31 January 2024 89,049
At 31 January 2023 115,815

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2024 2023
£    £   
Trade debtors 250,601 297,040
Other debtors 26,040 25,399
276,641 322,439

EXTRAQUICK TRANSPORT LIMITED (REGISTERED NUMBER: 02645578)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 35,285 43,047
Trade creditors 64,599 58,115
Taxation and social security 20,392 25,682
Other creditors 1,255 1,479
121,531 128,323

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 40,175 58,059

8. ULTIMATE CONTROLLING PARTY

The controlling party is N Singh.