IRIS Accounts Production v24.3.0.553 10614349 Board of Directors 1.3.23 29.2.24 29.2.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh106143492023-02-28106143492024-02-29106143492023-03-012024-02-29106143492022-02-28106143492022-03-012023-02-28106143492023-02-2810614349ns15:EnglandWales2023-03-012024-02-2910614349ns14:PoundSterling2023-03-012024-02-2910614349ns10:Director12023-03-012024-02-2910614349ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2910614349ns10:SmallEntities2023-03-012024-02-2910614349ns10:AuditExemptWithAccountantsReport2023-03-012024-02-2910614349ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2910614349ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2910614349ns10:FullAccounts2023-03-012024-02-2910614349ns10:Director22023-03-012024-02-2910614349ns10:RegisteredOffice2023-03-012024-02-2910614349ns5:CurrentFinancialInstruments2024-02-2910614349ns5:CurrentFinancialInstruments2023-02-2810614349ns5:Non-currentFinancialInstruments2024-02-2910614349ns5:Non-currentFinancialInstruments2023-02-2810614349ns5:ShareCapital2024-02-2910614349ns5:ShareCapital2023-02-2810614349ns5:RetainedEarningsAccumulatedLosses2024-02-2910614349ns5:RetainedEarningsAccumulatedLosses2023-02-2810614349ns5:MotorVehicles2023-03-012024-02-2910614349ns5:ComputerEquipment2023-03-012024-02-2910614349ns5:PlantMachinery2023-02-2810614349ns5:FurnitureFittings2023-02-2810614349ns5:MotorVehicles2023-02-2810614349ns5:ComputerEquipment2023-02-2810614349ns5:PlantMachinery2023-03-012024-02-2910614349ns5:FurnitureFittings2023-03-012024-02-2910614349ns5:PlantMachinery2024-02-2910614349ns5:FurnitureFittings2024-02-2910614349ns5:MotorVehicles2024-02-2910614349ns5:ComputerEquipment2024-02-2910614349ns5:PlantMachinery2023-02-2810614349ns5:FurnitureFittings2023-02-2810614349ns5:MotorVehicles2023-02-2810614349ns5:ComputerEquipment2023-02-2810614349ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-02-2810614349ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-012024-02-2910614349ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-02-2910614349ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-02-2810614349ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2910614349ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-2810614349ns5:Non-currentFinancialInstruments2023-03-012024-02-2910614349ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-02-2910614349ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-02-2810614349ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-02-2910614349ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-02-2810614349ns5:HirePurchaseContracts2024-02-2910614349ns5:HirePurchaseContracts2023-02-2810614349ns5:Secured2024-02-2910614349ns5:Secured2023-02-28
REGISTERED NUMBER: 10614349 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

BK Car Transport Limited

BK Car Transport Limited (Registered number: 10614349)

Contents of the Financial Statements
for the Year Ended 29 February 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


BK Car Transport Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mr Barry Worthington
Mr Keith Philip Worthington



REGISTERED OFFICE: Queen Street Chambers
68 Queen Street
Sheffield
South Yorkshire
S1 1WR



REGISTERED NUMBER: 10614349 (England and Wales)



ACCOUNTANTS: Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
South Yorkshire
S1 1WR



BANKERS: Barclays Bank plc
Leicester
LE87 2BB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
BK Car Transport Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Directors' Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of BK Car Transport Limited for the year ended 29 February 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of BK Car Transport Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of BK Car Transport Limited and state those matters that we have agreed to state to the Board of Directors of BK Car Transport Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BK Car Transport Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that BK Car Transport Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of BK Car Transport Limited. You consider that BK Car Transport 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 financial statements of BK Car Transport 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 financial statements.






Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
South Yorkshire
S1 1WR


25 November 2024

BK Car Transport Limited (Registered number: 10614349)

Balance Sheet
29 February 2024

29/2/24 28/2/23
Notes £    £   
FIXED ASSETS
Tangible assets 4 139,638 87,812

CURRENT ASSETS
Debtors 5 96,631 45,617
Cash at bank and in hand 724 682
97,355 46,299
CREDITORS
Amounts falling due within one year 6 (206,330 ) (160,002 )
NET CURRENT LIABILITIES (108,975 ) (113,703 )
TOTAL ASSETS LESS CURRENT LIABILITIES 30,663 (25,891 )

CREDITORS
Amounts falling due after more than one
year

7

(71,834

)

(51,890

)
NET LIABILITIES (41,171 ) (77,781 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (41,271 ) (77,881 )
(41,171 ) (77,781 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

BK Car Transport Limited (Registered number: 10614349)

Balance Sheet - continued
29 February 2024


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 Board of Directors and authorised for issue on 25 November 2024 and were signed on its behalf by:





Mr Barry Worthington - Director


BK Car Transport Limited (Registered number: 10614349)

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


1. STATUTORY INFORMATION

BK Car Transport Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


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 the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Tangible fixed assets are initially measured at cost. Subsequently, they are measured at cost less accumulated depreciation and impairment losses.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.

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.

BK Car Transport Limited (Registered number: 10614349)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


2. ACCOUNTING POLICIES - continued

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.

Going concern
The directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing annual financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 13,260 208 157,295 1,798 172,561
Additions 6,625 - 102,500 - 109,125
Disposals - - (36,844 ) - (36,844 )
At 29 February 2024 19,885 208 222,951 1,798 244,842
DEPRECIATION
At 1 March 2023 5,605 108 77,765 1,271 84,749
Charge for year 3,286 25 31,404 132 34,847
Eliminated on disposal - - (14,392 ) - (14,392 )
At 29 February 2024 8,891 133 94,777 1,403 105,204
NET BOOK VALUE
At 29 February 2024 10,994 75 128,174 395 139,638
At 28 February 2023 7,655 100 79,530 527 87,812

BK Car Transport Limited (Registered number: 10614349)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2023 139,973
Additions 102,500
Disposals (33,744 )
At 29 February 2024 208,729
DEPRECIATION
At 1 March 2023 67,598
Charge for year 30,088
Eliminated on disposal (13,181 )
At 29 February 2024 84,505
NET BOOK VALUE
At 29 February 2024 124,224
At 28 February 2023 72,375

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Trade debtors 85,907 45,617
Other debtors 10,724 -
96,631 45,617

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Bank loans and overdrafts 40,338 31,823
Hire purchase contracts (see note 8) 32,569 27,939
Trade creditors 3,016 3,771
Taxation and social security 33,184 22,938
Other creditors 97,223 73,531
206,330 160,002

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29/2/24 28/2/23
£    £   
Bank loans 18,621 28,791
Hire purchase contracts (see note 8) 53,213 23,099
71,834 51,890

£28,621 of the bank loan balance is part of the bounce back loan scheme and is guaranteed by the UK Government.

BK Car Transport Limited (Registered number: 10614349)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

29/2/24 28/2/23
£    £   
Net obligations repayable:
Within one year 32,569 27,939
Between one and five years 53,213 23,099
85,782 51,038

9. SECURED DEBTS

The following secured debts are included within creditors:

29/2/24 28/2/23
£    £   
Bank overdrafts 30,338 18,686
Bank loans 28,621 41,928
Hire purchase contracts 85,782 51,038
144,741 111,652

The secured debts are backed by personal guarantees from the directors.