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REGISTERED NUMBER: SC237462 (Scotland)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

G. J. Transport Limited

G. J. Transport Limited (Registered number: SC237462)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


G. J. Transport Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: G W Thomson





SECRETARY: W C Thomson





REGISTERED OFFICE: 13 Finlayson Drive
Airdrie
Lanarkshire
ML6 8LU





REGISTERED NUMBER: SC237462 (Scotland)





ACCOUNTANTS: Gordon Ferguson & Co Ltd
76 Hamilton Road
Motherwell
Lanarkshire
ML1 3BY

G. J. Transport Limited (Registered number: SC237462)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 903,510 634,485

CURRENT ASSETS
Debtors 5 320,375 346,418
Cash at bank 1,058,633 790,157
1,379,008 1,136,575
CREDITORS
Amounts falling due within one year 6 511,383 476,956
NET CURRENT ASSETS 867,625 659,619
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,771,135

1,294,104

CREDITORS
Amounts falling due after more than one
year

7

617,659

462,960
NET ASSETS 1,153,476 831,144

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 1,153,375 831,043
SHAREHOLDERS' FUNDS 1,153,476 831,144

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 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 17 October 2024 and were signed by:





G W Thomson - Director


G. J. Transport Limited (Registered number: SC237462)

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

1. STATUTORY INFORMATION

G. J. Transport Limited is a private company, limited by shares , registered in Scotland. 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.
Plant and machinery - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

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.

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 15 (2023 - 19 ) .

G. J. Transport Limited (Registered number: SC237462)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 23,753 500 2,097,858 1,526 2,123,637
Additions - - 523,171 365 523,536
At 31 March 2024 23,753 500 2,621,029 1,891 2,647,173
DEPRECIATION
At 1 April 2023 18,503 337 1,469,217 1,095 1,489,152
Charge for year 2,625 41 251,660 185 254,511
At 31 March 2024 21,128 378 1,720,877 1,280 1,743,663
NET BOOK VALUE
At 31 March 2024 2,625 122 900,152 611 903,510
At 31 March 2023 5,250 163 628,641 431 634,485

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 684,890
Additions 515,171
At 31 March 2024 1,200,061
DEPRECIATION
At 1 April 2023 367,305
Charge for year 230,985
At 31 March 2024 598,290
NET BOOK VALUE
At 31 March 2024 601,771
At 31 March 2023 317,585

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 320,375 346,418

G. J. Transport Limited (Registered number: SC237462)

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 10,000
Other loans 51,064 51,064
Hire purchase contracts 223,262 201,719
Trade creditors 58,095 47,930
Tax 17,956 52,653
Social security and other taxes 11,453 10,375
VAT 131,825 78,657
Other creditors 998 815
Directors' current accounts 2,355 19,661
Accrued expenses 4,375 4,082
511,383 476,956

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans - 2-5 years 12,500 22,500
Other loans - 2-5 years 46,809 97,872
Hire purchase contracts 558,350 342,588
617,659 462,960