7 01/03/2023 29/02/2024 2024-02-29 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-03-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 04273299 2023-03-01 2024-02-29 04273299 2024-02-29 04273299 2023-02-28 04273299 2022-03-01 2023-02-28 04273299 2023-02-28 04273299 2022-02-28 04273299 bus:Director4 2023-03-01 2024-02-29 04273299 core:WithinOneYear 2024-02-29 04273299 core:WithinOneYear 2023-02-28 04273299 core:AfterOneYear 2024-02-29 04273299 core:AfterOneYear 2023-02-28 04273299 core:ShareCapital 2024-02-29 04273299 core:ShareCapital 2023-02-28 04273299 core:RetainedEarningsAccumulatedLosses 2024-02-29 04273299 core:RetainedEarningsAccumulatedLosses 2023-02-28 04273299 bus:SmallEntities 2023-03-01 2024-02-29 04273299 bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 04273299 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 04273299 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 04273299 bus:AbridgedAccounts 2023-03-01 2024-02-29 04273299 core:PlantMachinery 2023-03-01 2024-02-29
Company registration number: 04273299
POL HEAVY HAULAGE LTD
Unaudited filleted abridged financial statements
29 February 2024
POL HEAVY HAULAGE LTD
Contents
Abridged statement of financial position
Notes to the financial statements
POL HEAVY HAULAGE LTD
Abridged statement of financial position
29 February 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 1,058,670 914,411
_______ _______
1,058,670 914,411
Current assets
Debtors 1,001,023 743,886
Cash at bank and in hand 468,124 460,870
_______ _______
1,469,147 1,204,756
Creditors: amounts falling due
within one year ( 770,608) ( 734,421)
_______ _______
Net current assets 698,539 470,335
_______ _______
Total assets less current liabilities 1,757,209 1,384,746
Creditors: amounts falling due
after more than one year ( 632,596) ( 600,329)
_______ _______
Net assets 1,124,613 784,417
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,124,513 784,317
_______ _______
Shareholders funds 1,124,613 784,417
_______ _______
For the 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.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of financial position for the current year ending 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 15 November 2024 , and are signed on behalf of the board by:
WOJCIECH SOBOTKIEWICZ
Director
Company registration number: 04273299
POL HEAVY HAULAGE LTD
Notes to the financial statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in ENGLAND AND WALES. The address of the registered office is BELSWAINS YARD, FEATHERBED LANE, HEMEL HEMPSTEAD, HERTFORDSHIRE, HP3 9DJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the exemption from preparing consolidated financial statements contained in Section 400 of the Companies Act 2006 on the basis that it is a subsidiary undertaking and its immediate parent undertaking is established under the law of any part of the United Kingdom.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts is recorded at the fair value at the date of revaluation less any subseqeunt accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - over 5 years
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Staff costs
The average number of persons employed by the company during the year amounted to 7 (2023: 7 ).
The aggregate payroll costs incurred during the year were:
2024 2023
£ £
Wages and salaries 235,850 344,472
Other pension costs 11,606 12,528
_______ _______
247,456 357,000
_______ _______
5. Tangible assets
£
Cost
At 1 March 2023 2,924,332
Additions 678,873
_______
At 29 February 2024 3,603,205
_______
Depreciation
At 1 March 2023 2,009,921
Charge for the year 534,614
_______
At 29 February 2024 2,544,535
_______
Carrying amount
At 29 February 2024 1,058,670
_______
At 28 February 2023 914,411
_______