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Registration number: 08382779

Goulding's Transport Services Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 29 February 2024

 

Goulding's Transport Services Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Abridged Balance Sheet

4 to 5

Notes to the Unaudited Abridged Financial Statements

6 to 10

 

Goulding's Transport Services Limited

Company Information

Director

Mr Simon Goulding

Registered office

Unit 10 Steelbox Works
Canklow Meadows Ind Estate
West Bawtry Road
Rotherham
S60 2XL

Accountants

SDN Accountancy Limited
52 Park Road
Askern
Doncaster
DN6 0BA

 

Goulding's Transport Services Limited

Director's Report for the Year Ended 29 February 2024

The director presents his report and the abridged financial statements for the year ended 29 February 2024.

Director of the company

The director who held office during the year was as follows:

Mr Simon Goulding

Principal activity

The principal activity of the company is Courier & Transportation Services

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 15 March 2024
 

.........................................
Mr Simon Goulding
Director

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Goulding's Transport Services Limited
for the Year Ended 29 February 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Goulding's Transport Services Limited for the year ended 29 February 2024 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Goulding's Transport Services Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Goulding's Transport Services Limited and state those matters that we have agreed to state to the Board of Directors of Goulding's Transport Services Limited, as a body, in this report.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Goulding's Transport Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Goulding's Transport Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Goulding's Transport Services Limited. You consider that Goulding's Transport Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Goulding's Transport Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

SDN Accountancy Limited
52 Park Road
Askern
Doncaster
DN6 0BA

15 March 2024

 

Goulding's Transport Services Limited

(Registration number: 08382779)
Abridged Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

89,677

81,765

Current assets

 

Debtors

63,442

41,590

Cash at bank and in hand

 

259,534

249,625

 

322,976

291,215

Prepayments and accrued income

 

6,851

5,417

Creditors: Amounts falling due within one year

(61,834)

(50,636)

Net current assets

 

267,993

245,996

Total assets less current liabilities

 

357,670

327,761

Provisions for liabilities

(17,039)

(15,535)

Accruals and deferred income

 

(865)

(1,319)

Net assets

 

339,766

310,907

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

339,765

310,906

Shareholders' funds

 

339,766

310,907

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 15 March 2024
 

 

Goulding's Transport Services Limited

(Registration number: 08382779)
Abridged Balance Sheet as at 29 February 2024

.........................................
Mr Simon Goulding
Director

 

Goulding's Transport Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 10 Steelbox Works
Canklow Meadows Ind Estate
West Bawtry Road
Rotherham
S60 2XL

These financial statements were authorised for issue by the director on 15 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Goulding's Transport Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% Reduced Balance

Motor vehicles

25% Reduced Balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call 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 of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Goulding's Transport Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

32,921

27,255

Amortisation expense

-

1,400

 

Goulding's Transport Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

5

Intangible assets

Total
£

Cost or valuation

At 1 March 2023

14,000

At 29 February 2024

14,000

Amortisation

At 1 March 2023

14,000

At 29 February 2024

14,000

Carrying amount

At 29 February 2024

-

6

Tangible assets

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2023

3,421

222,153

225,574

Additions

-

40,833

40,833

At 29 February 2024

3,421

262,986

266,407

Depreciation

At 1 March 2023

2,146

141,663

143,809

Charge for the year

379

32,542

32,921

At 29 February 2024

2,525

174,205

176,730

Carrying amount

At 29 February 2024

896

88,781

89,677

At 28 February 2023

1,275

80,490

81,765

 

Goulding's Transport Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1