Registered number
05094533
L & D Williams Haulage Ltd
Filleted Accounts
31 March 2024
L & D Williams Haulage Ltd
Registered number: 05094533
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 40,536 61,552
Current assets
Debtors 4 27,931 30,957
Cash at bank and in hand 112,354 88,530
140,285 119,487
Creditors: amounts falling due within one year 5 (60,052) (68,600)
Net current assets 80,233 50,887
Total assets less current liabilities 120,769 112,439
Creditors: amounts falling due after more than one year 6 (65,092) (77,719)
Net assets 55,677 34,720
Capital and reserves
Called up share capital 100 100
Profit and loss account 55,577 34,620
Shareholders' funds 55,677 34,720
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.
D Williams
Director
Approved by the board on 24 October 2024
L & D Williams Haulage Ltd
Notes to the Accounts
for the year ended 31 March 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).
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 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
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 1,429 83,761 85,190
At 31 March 2024 1,429 83,761 85,190
Depreciation
At 1 April 2023 953 22,685 23,638
Charge for the year 76 20,940 21,016
At 31 March 2024 1,029 43,625 44,654
Net book value
At 31 March 2024 400 40,136 40,536
At 31 March 2023 476 61,076 61,552
4 Debtors 2024 2023
£ £
Trade debtors 10,242 13,268
Other debtors 17,689 17,689
27,931 30,957
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 3,388 958
Corporation tax 6,197 9,287
Directors current account 47,661 53,643
Other taxes and social security costs 2,806 4,712
60,052 68,600
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 47,982 60,609
Other creditors 17,110 17,110
65,092 77,719
7 Other information
L & D Williams Haulage Ltd is a private company limited by shares and incorporated in England. Its registered office is:
8 Gartons Lane
Clockface
St Helens
Merseyside
WA9 4QX
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