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REGISTERED NUMBER: 09459425 (England and Wales)














Unaudited Financial Statements

for the Year Ended 29 February 2024

for

J W Cantrell Haulage Contractors Limited

J W Cantrell Haulage Contractors Limited (Registered number: 09459425)






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




Page

Balance Sheet 1 to 2

Notes to the Financial Statements 3 to 7


J W Cantrell Haulage Contractors Limited (Registered number: 09459425)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 274,000 298,000
Tangible assets 5 622,047 678,765
Investments 6 100 100
896,147 976,865

CURRENT ASSETS
Stocks 25,000 25,000
Debtors 7 397,167 463,108
Cash at bank 91,347 123,326
513,514 611,434
CREDITORS
Amounts falling due within one year 8 335,967 319,471
NET CURRENT ASSETS 177,547 291,963
TOTAL ASSETS LESS CURRENT LIABILITIES 1,073,694 1,268,828

CREDITORS
Amounts falling due after more than one year 9 (366,928 ) (463,413 )

PROVISIONS FOR LIABILITIES (118,496 ) (170,682 )
NET ASSETS 588,270 634,733

CAPITAL AND RESERVES
Called up share capital 100 100
Non distributable reserves 9,202 16,619
Retained earnings 578,968 618,014
SHAREHOLDERS' FUNDS 588,270 634,733

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.

J W Cantrell Haulage Contractors Limited (Registered number: 09459425)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2024 and were signed on its behalf by:





Mr D Cantrell - Director


J W Cantrell Haulage Contractors Limited (Registered number: 09459425)

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

1. STATUTORY INFORMATION

J W Cantrell Haulage Contractors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09459425

Registered office: Ebenezer House
Ryecroft
Newcastle
Staffordshire
ST5 2BE

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Revenue is recognised as the company becomes entitled to consideration for the goods and services supplied. Therefore turnover also includes the element of work completed but not yet invoiced on service contracts.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


J W Cantrell Haulage Contractors Limited (Registered number: 09459425)

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

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 480,000
AMORTISATION
At 1 March 2023 182,000
Amortisation for year 24,000
At 29 February 2024 206,000
NET BOOK VALUE
At 29 February 2024 274,000
At 28 February 2023 298,000

J W Cantrell Haulage Contractors Limited (Registered number: 09459425)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 March 2023 70,011 1,203 1,629,931 1,701,145
Additions 6,700 - 179,900 186,600
Disposals - - (208,991 ) (208,991 )
At 29 February 2024 76,711 1,203 1,600,840 1,678,754
DEPRECIATION
At 1 March 2023 37,343 602 984,435 1,022,380
Charge for year 5,905 90 196,024 202,019
Eliminated on disposal - - (167,692 ) (167,692 )
At 29 February 2024 43,248 692 1,012,767 1,056,707
NET BOOK VALUE
At 29 February 2024 33,463 511 588,073 622,047
At 28 February 2023 32,668 601 645,496 678,765

Cost or valuation at 29 February 2024 is represented by:

Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Valuation in 2016 - - 271,528 271,528
Valuation in 2017 - - (1,000 ) (1,000 )
Valuation in 2018 - - (35,225 ) (35,225 )
Valuation in 2020 - - (21,141 ) (21,141 )
Cost 76,711 1,203 1,386,678 1,464,592
76,711 1,203 1,600,840 1,678,754

If plant and vehicles had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 306,572 306,572

Plant and vehicles were valued on an open market basis on 1 August 2015 by the directors .

In the opinion of the directors, the fair value of plant and motor vehicles at 28 February 2024 was not materially different to the amounts shown above.

J W Cantrell Haulage Contractors Limited (Registered number: 09459425)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
At 1 March 2023 589,023
Additions 158,000
At 29 February 2024 747,023
DEPRECIATION
At 1 March 2023 226,208
Charge for year 130,205
At 29 February 2024 356,413
NET BOOK VALUE
At 29 February 2024 390,610
At 28 February 2023 362,815

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2023
and 29 February 2024 100
NET BOOK VALUE
At 29 February 2024 100
At 28 February 2023 100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 316,577 391,127
Amounts owed by group undertakings 100 100
Other debtors 80,490 71,881
397,167 463,108

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 150,369 146,674
Trade creditors 106,637 107,403
Taxation and social security 34,419 54,352
Other creditors 44,542 11,042
335,967 319,471

J W Cantrell Haulage Contractors Limited (Registered number: 09459425)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 121,003 152,872
Other creditors 245,925 310,541
366,928 463,413

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 271,372 299,546

Hire purchase agreements are secured on assets to which they relate.

11. FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £Nil (2023 - £12,500).