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REGISTERED NUMBER: SC626586















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

PREMIER TRANSPORT (WEST LOTHIAN) LTD

PREMIER TRANSPORT (WEST LOTHIAN) LTD (REGISTERED NUMBER: SC626586)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


PREMIER TRANSPORT (WEST LOTHIAN) LTD (REGISTERED NUMBER: SC626586)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,250 18,875
Tangible assets 5 143,984 151,051
148,234 169,926

CURRENT ASSETS
Debtors 6 95,779 79,990
Cash at bank and in hand 41,079 14,549
136,858 94,539
CREDITORS
Amounts falling due within one year 7 130,854 147,982
NET CURRENT ASSETS/(LIABILITIES) 6,004 (53,443 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

154,238

116,483

CREDITORS
Amounts falling due after more than one year 8 (64,800 ) (64,659 )

PROVISIONS FOR LIABILITIES (15,966 ) (14,583 )
NET ASSETS 73,472 37,241

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 73,470 37,239
73,472 37,241

PREMIER TRANSPORT (WEST LOTHIAN) LTD (REGISTERED NUMBER: SC626586)

BALANCE SHEET - continued
30 APRIL 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2024 and were signed on its behalf by:





Mr S G Mcmillan - Director


PREMIER TRANSPORT (WEST LOTHIAN) LTD (REGISTERED NUMBER: SC626586)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Premier Transport (West Lothian) Ltd is a private company, limited by shares, registered in Scotland. The company's registered office address is 10 St. Andrews Way, Deans, Livingston, EH54 8QH.

The presentation currency of the financial statements is Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard. The financial statements have been prepared under the historical cost convention.

Judgements
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statement. The directors consider there to be no such significant judgements.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Turnover
Turnover comprises the invoiced cost of goods and services sold during the year, excluding value added tax. The company's policy is to recognise a sale when substantively all the risks and rewards in connection with the goods and services have been passed to the buyer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of various businesses, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 15% on cost

Tangible fixed assets are included at cost less accumulated depreciation and impairment.

Impairment of tangible fixed assets
At each reporting date non-financial assets not carried at fair value, like plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

PREMIER TRANSPORT (WEST LOTHIAN) LTD (REGISTERED NUMBER: SC626586)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and investments in non-puttable ordinary shares.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

PREMIER TRANSPORT (WEST LOTHIAN) LTD (REGISTERED NUMBER: SC626586)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 73,125
AMORTISATION
At 1 May 2023 54,250
Charge for year 14,625
At 30 April 2024 68,875
NET BOOK VALUE
At 30 April 2024 4,250
At 30 April 2023 18,875

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 300,623
Additions 54,627
Disposals (4,042 )
At 30 April 2024 351,208
DEPRECIATION
At 1 May 2023 149,572
Charge for year 60,684
Eliminated on disposal (3,032 )
At 30 April 2024 207,224
NET BOOK VALUE
At 30 April 2024 143,984
At 30 April 2023 151,051

Assets held under hire purchase contracts have a net book value of £63,297 (2023 - £64,039 ).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 81,145 70,232
Other debtors 14,634 9,758
95,779 79,990

PREMIER TRANSPORT (WEST LOTHIAN) LTD (REGISTERED NUMBER: SC626586)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,556 5,556
Hire purchase contracts 21,649 39,090
Trade creditors 34,168 29,744
Taxation and social security 4,083 -
Other creditors 65,398 73,592
130,854 147,982

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 31,133 36,510
Hire purchase contracts 33,667 28,149
64,800 64,659

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 8,911 14,288

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 55,316 67,239

Hire purchase liabilities are secured over the assets concerned.