TRUCKERS REST LIMITED

Company Registration Number:
13867288 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

TRUCKERS REST LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

TRUCKERS REST LIMITED

Directors' report period ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Principal activities of the company

The company's principal activity during the year continued to be the provision of parking and catering services.



Directors

The directors shown below have held office during the whole of the period from
1 April 2023 to 31 March 2024

Mr C Murtagh
Mr J Gilpin
Mrs G Murtagh


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
12 September 2024

And signed on behalf of the board by:
Name: Mr C Murtagh
Status: Director

TRUCKERS REST LIMITED

Profit And Loss Account

for the Period Ended 31 March 2024

2024 14 months to 31 March 2023


£

£
Turnover: 1,051,236 668,692
Cost of sales: ( 318,098 ) ( 187,143 )
Gross profit(or loss): 733,138 481,549
Administrative expenses: ( 649,753 ) ( 368,857 )
Operating profit(or loss): 83,385 112,692
Interest payable and similar charges: ( 50 ) 0
Profit(or loss) before tax: 83,335 112,692
Tax: ( 45,672 ) ( 28,175 )
Profit(or loss) for the financial year: 37,663 84,517

TRUCKERS REST LIMITED

Balance sheet

As at 31 March 2024

Notes 2024 14 months to 31 March 2023


£

£
Fixed assets
Intangible assets: 3 1,341,000 1,440,333
Tangible assets: 4 14,985 12,860
Total fixed assets: 1,355,985 1,453,193
Current assets
Stocks: 5 9,240 8,695
Debtors: 6 37,720 49,461
Cash at bank and in hand: 84,399 103,079
Total current assets: 131,359 161,235
Creditors: amounts falling due within one year: 7 ( 1,365,163 ) ( 1,529,910 )
Net current assets (liabilities): (1,233,804) (1,368,675)
Total assets less current liabilities: 122,181 84,518
Total net assets (liabilities): 122,181 84,518
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 122,180 84,517
Total Shareholders' funds: 122,181 84,518

The notes form part of these financial statements

TRUCKERS REST LIMITED

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

This report was approved by the board of directors on 12 September 2024
and signed on behalf of the board by:

Name: Mr C Murtagh
Status: Director

The notes form part of these financial statements

TRUCKERS REST LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Fixtures, fittings, tools and equipment - over 5 years

    Intangible fixed assets amortisation policy

    Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

    Other accounting policies

    Stocks Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. Debtors Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. Creditors Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Taxation A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. Provisions Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. Leased assets A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. Pensions Contributions to defined contribution plans are expensed in the period to which they relate.

TRUCKERS REST LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 14 months to 31 March 2023
    Average number of employees during the period 24 22

TRUCKERS REST LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 April 2023 1,490,000 1,490,000
Additions
Disposals
Revaluations
Transfers
At 31 March 2024 1,490,000 1,490,000
Amortisation
At 1 April 2023 49,667 49,667
Charge for year 99,333 99,333
On disposals
Other adjustments
At 31 March 2024 149,000 149,000
Net book value
At 31 March 2024 1,341,000 1,341,000
At 31 March 2023 1,440,333 1,440,333

TRUCKERS REST LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 14,288 0 14,288
Additions 5,249 980 6,229
Disposals
Revaluations
Transfers
At 31 March 2024 19,537 980 20,517
Depreciation
At 1 April 2023 1,428 0 1,428
Charge for year 3,908 196 4,104
On disposals
Other adjustments
At 31 March 2024 5,336 196 5,532
Net book value
At 31 March 2024 14,201 784 14,985
At 31 March 2023 12,860 0 12,860

TRUCKERS REST LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Stocks

2024 14 months to 31 March 2023
£ £
Stocks 9,240 8,695
Total 9,240 8,695

TRUCKERS REST LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Debtors

2024 14 months to 31 March 2023
£ £
Other debtors 37,720 49,461
Total 37,720 49,461

TRUCKERS REST LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

7. Creditors: amounts falling due within one year note

2024 14 months to 31 March 2023
£ £
Trade creditors 14,713 16,277
Taxation and social security 92,857 69,592
Other creditors 1,257,593 1,444,041
Total 1,365,163 1,529,910

Amounts owed to group undertakings and undertakings in which the company has a participating interest :- 2024 £1,244,549 2023 £1,400,966 Related party transactions During the year the parent company, SMUK Limited, made a loan of £1,250,000 to this company. The loan is repayable on demand and does not bear interest. Controlling party The company is a subsidiary of SMUK Limited.