Registered number
07256974
Secure Transportation Ltd
Filleted Accounts
31 May 2024
Secure Transportation Ltd
Registered number: 07256974
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 160,891 186,560
Current assets
Debtors 4 186,847 187,695
Cash at bank and in hand 205,437 223,636
392,284 411,331
Creditors: amounts falling due within one year 5 (236,984) (194,643)
Net current assets 155,300 216,688
Total assets less current liabilities 316,191 403,248
Creditors: amounts falling due after more than one year 6 (72,341) (96,869)
Provisions for liabilities (40,567) (47,181)
Net assets 203,283 259,198
Capital and reserves
Called up share capital 200 200
Profit and loss account 203,083 258,998
Shareholders' funds 203,283 259,198
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A Pedley
Director
Approved by the board on 23 October 2024
Secure Transportation Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Companies Act 2006.

The presentation currency of the financial statements is the Pound Sterling (£).
Significant judgements and estimates
There were no other significant judgements and estimates applied to the numbers contained within these financial statements.
Turnover
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 rendering of services.

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
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:
Furniture, Fixtures and equipment 20% reducing balance
Computer Equipment 25% reducing balance
Motor vehicles 33.33% straight line
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.
Financial instruments
The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price and subsequently measured at amortised cost using the effective interest method. If the arrangement constitutes a financing transaction, the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the Profit and Loss Account.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Profit and Loss Account.
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price.

Such assets are subsequently carried at fair value and the changes in fair value are recognised in, the Profit and Loss Account, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors, loans from fellow Group Companies that are classified as debt, are initially recognised at transaction price and subsequently measured at amortised cost using the effective interest method.

If the arrangement constitutes a financing transaction, the debt instrument is measured, initially at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. These financial instruments are then subsequently measured at fair value and any changes in fair value are recognised in, the Profit and Loss Account.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if payment is due within one year. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished; that is, when the contractual obligation is discharged, cancelled or expires.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and demand deposits and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk to changes in value.
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.

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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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.

Rent free periods or other incentives received for entering into an operating lease are accounted for as a reduction to the expense and are recognised, on a straight-line basis over the lease term.
Going concern
The Directors' expectation is that the Company will continue to trade profitably for the forseeable future and hence generate the resources required to meet its obligations, if and when, they become due. In light of this, they are of the opinion that the Company should continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 13 11
3 Tangible fixed assets
Furniture, fixtures & equip Computer equipment Motor vehicles Total
£ £ £ £
Cost
At 1 June 2023 122,901 14,982 215,723 353,606
Additions 4,600 1,456 32,120 38,176
At 31 May 2024 127,501 16,438 247,843 391,782
Depreciation
At 1 June 2023 33,621 7,109 126,316 167,046
Charge for the year 20,866 2,107 40,872 63,845
At 31 May 2024 54,487 9,216 167,188 230,891
Net book value
At 31 May 2024 73,014 7,222 80,655 160,891
At 31 May 2023 89,280 7,873 89,407 186,560
4 Debtors 2024 2023
£ £
Trade debtors 94,040 108,135
Other debtors 92,807 79,560
186,847 187,695
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,246 10,866
Obligations under finance lease and hire purchase contracts 42,457 35,969
Trade creditors 51,086 28,958
Taxation and social security costs 49,822 21,824
Other creditors 83,373 97,026
236,984 194,643
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,506 20,761
Obligations under finance lease and hire purchase contracts 61,835 76,108
72,341 96,869
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 20,752 31,627
The bank loans are secured by the UK government under the Corona Virus Business Support Scheme.
8 Other financial commitments
The company has entered into a number of lease agreements; some classified as finance leases for motor vehicles. The total future minimum payments are as follows:
2024 2023
Creditors include: £ £
Not later than one year 162,110 145,084
Later than one year and not later than five years 319,943 453,869
Total future minimum payments under non-cancellable operating leases 482,053 598,953
9 Related party transactions
During the year the company paid dividends of £60,000 (2023 - £75,000) to the directors.

During the year the directors settled expenses totalling £1,178 (2023 - £1,155) and were repaid £69,366 (2023 - £50,293).

Included in Creditors, amounts falling due within one year is the amount of £75,656 (2023 - £83,844) owed to the directors as at the year end. The loans are interest free and repayable on demand.
10 Other information
Secure Transportation Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 20
Abenglen Industrial Estate
Betam Road
Hayes
UB3 1SS
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