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REGISTERED NUMBER: SC388308 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Pankhurst Haulage Ltd

Pankhurst Haulage Ltd (Registered number: SC388308)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


Pankhurst Haulage Ltd (Registered number: SC388308)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 112,178 136,656

CURRENT ASSETS
Debtors 5 153,966 84,943
Cash at bank 459,867 377,713
613,833 462,656
CREDITORS
Amounts falling due within one year 6 (155,443 ) (81,477 )
NET CURRENT ASSETS 458,390 381,179
TOTAL ASSETS LESS CURRENT
LIABILITIES

570,568

517,835

CREDITORS
Amounts falling due after more than one
year

7

(20,833

)

(31,667

)

PROVISIONS FOR LIABILITIES (27,786 ) (31,882 )
NET ASSETS 521,949 454,286

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 521,848 454,185
521,949 454,286

Pankhurst Haulage Ltd (Registered number: SC388308)

Balance Sheet - 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 by the Board of Directors and authorised for issue on 1 October 2024 and were signed on its behalf by:





Mr G A Pankhurst - Director


Pankhurst Haulage Ltd (Registered number: SC388308)

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

1. STATUTORY INFORMATION

Pankhurst Haulage Ltd is a private company, limited by shares, registered in Scotland, registration number SC388308. The company's registered office is 8 Almond Drive, Banknock, Stirlingshire, FK4 1JZ.

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 represents net invoiced sales of services in respect of haulage contracting, excluding value added tax. Sales are recognised at the point at which the service is complete.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

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.

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.

Pankhurst Haulage Ltd (Registered number: SC388308)

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

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is
determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 224,723
Additions 20,300
Disposals (37,925 )
At 31 March 2024 207,098
DEPRECIATION
At 1 April 2023 88,067
Charge for year 37,655
Eliminated on disposal (30,802 )
At 31 March 2024 94,920
NET BOOK VALUE
At 31 March 2024 112,178
At 31 March 2023 136,656

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 149,195 80,675
Other debtors 4,771 4,268
153,966 84,943

Pankhurst Haulage Ltd (Registered number: SC388308)

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
£    £   
Bank loans and overdrafts 10,000 9,167
Trade creditors 19,933 8,934
Taxation and social security 86,865 37,853
Other creditors 38,645 25,523
155,443 81,477

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 20,833 31,667

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 30,833 40,834