North Killingholme Transport Limited 03662992 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is that of haulage contractors Digita Accounts Production Advanced 6.30.9574.0 true 03662992 2023-09-01 2024-08-31 03662992 2024-08-31 03662992 bus:OrdinaryShareClass1 2024-08-31 03662992 core:RetainedEarningsAccumulatedLosses 2024-08-31 03662992 core:ShareCapital 2024-08-31 03662992 core:CurrentFinancialInstruments 2024-08-31 03662992 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 03662992 core:FurnitureFittingsToolsEquipment 2024-08-31 03662992 core:LandBuildings 2024-08-31 03662992 core:MotorVehicles 2024-08-31 03662992 bus:SmallEntities 2023-09-01 2024-08-31 03662992 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 03662992 bus:FilletedAccounts 2023-09-01 2024-08-31 03662992 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 03662992 bus:RegisteredOffice 2023-09-01 2024-08-31 03662992 bus:Director3 2023-09-01 2024-08-31 03662992 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 03662992 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 03662992 core:FurnitureFittings 2023-09-01 2024-08-31 03662992 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 03662992 core:LandBuildings 2023-09-01 2024-08-31 03662992 core:MotorVehicles 2023-09-01 2024-08-31 03662992 core:OfficeEquipment 2023-09-01 2024-08-31 03662992 core:PlantMachinery 2023-09-01 2024-08-31 03662992 countries:England 2023-09-01 2024-08-31 03662992 2023-08-31 03662992 core:FurnitureFittingsToolsEquipment 2023-08-31 03662992 core:LandBuildings 2023-08-31 03662992 core:MotorVehicles 2023-08-31 03662992 2022-09-01 2023-08-31 03662992 2023-08-31 03662992 bus:OrdinaryShareClass1 2023-08-31 03662992 core:RetainedEarningsAccumulatedLosses 2023-08-31 03662992 core:ShareCapital 2023-08-31 03662992 core:CurrentFinancialInstruments 2023-08-31 03662992 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 03662992 core:FurnitureFittingsToolsEquipment 2023-08-31 03662992 core:LandBuildings 2023-08-31 03662992 core:MotorVehicles 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03662992

North Killingholme Transport Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 August 2024

 

North Killingholme Transport Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

North Killingholme Transport Limited

(Registration number: 03662992)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,125,627

1,125,839

Current assets

 

Stocks

8,085

18,550

Debtors

5

501,891

504,832

Cash at bank and in hand

 

515,481

580,406

 

1,025,457

1,103,788

Creditors: Amounts falling due within one year

6

(456,142)

(369,504)

Net current assets

 

569,315

734,284

Total assets less current liabilities

 

1,694,942

1,860,123

Provisions for liabilities

(276,347)

(276,400)

Net assets

 

1,418,595

1,583,723

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

1,418,495

1,583,623

Shareholders' funds

 

1,418,595

1,583,723

For the financial year ending 31 August 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

North Killingholme Transport Limited

(Registration number: 03662992)
Balance Sheet as at 31 August 2024

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 November 2024 and signed on its behalf by:
 


Mr J R Marsh
Director

   
 

North Killingholme Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

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

The address of its registered office is:
Garners Hill Farm
Thornton Road
Goxhill
North Lincolnshire
DN19 7LW

Registration number: 03662992

These financial statements were authorised for issue by the Board on 21 November 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 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 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.

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.

 

North Killingholme Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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

Plant and Machinery

15% straight line basis

Motor Vehicles

20% straight line basis

Office Equipment

33.33% straight line basis

Fixtures and Fittings

15% straight line basis

Land and Buildings

Freehold land is held a fair value

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 less aprovision 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.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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 at the transaction price.

 

North Killingholme Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 20 (2023 - 20).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

20,240

299,983

3,170,276

3,490,499

Additions

-

3,735

436,859

440,594

Disposals

-

-

(117,495)

(117,495)

At 31 August 2024

20,240

303,718

3,489,640

3,813,598

Depreciation

At 1 September 2023

-

213,436

2,151,224

2,364,660

Charge for the year

-

23,545

382,003

405,548

Eliminated on disposal

-

-

(82,237)

(82,237)

At 31 August 2024

-

236,981

2,450,990

2,687,971

Carrying amount

At 31 August 2024

20,240

66,737

1,038,650

1,125,627

At 31 August 2023

20,240

86,547

1,019,052

1,125,839

Included within the net book value of land and buildings above is £20,240 (2023 - £20,240) in respect of freehold land and buildings.
 

 

North Killingholme Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

444,187

451,014

Prepayments

56,704

51,218

Other debtors

1,000

2,600

 

501,891

504,832

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Trade payables

 

187,556

160,767

Amounts due to related parties

18,782

3,801

Social security and other taxes

 

245,041

201,936

Other payables

 

4,763

3,000

 

456,142

369,504

2024
£

2023
£

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100