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REGISTERED NUMBER: NI617981 (Northern Ireland)













RHOALAN TRANSPORT LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






RHOALAN TRANSPORT LTD (REGISTERED NUMBER: NI617981)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


RHOALAN TRANSPORT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: A Armstrong
R Armstrong



REGISTERED OFFICE: 55 Derrylee Road
DUNGANNON
Co. Tyrone
BT71 6NS



REGISTERED NUMBER: NI617981 (Northern Ireland)



ACCOUNTANTS: McAleer Jackson Ltd
Chartered Accountants & Chartered Tax Advisers
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE



BANKERS: Danske Bank
Business Banking
PO Box 183
Donegal Square West
BELFAST
BT1 6JS

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
RHOALAN TRANSPORT LTD

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 Report of the Directors are not required to be filed with the Registrar of Companies.


In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's Board of Directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the Balance Sheet as at 31 March 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. 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 financial statements.

This report is made solely to the company's members as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body for this report.






McAleer Jackson Ltd
Chartered Accountants & Chartered Tax Advisers
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE


27 November 2024

RHOALAN TRANSPORT LTD (REGISTERED NUMBER: NI617981)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,844,760 1,471,147
1,844,760 1,471,147

CURRENT ASSETS
Debtors 6 595,524 345,509
Cash at bank 626,062 643,562
1,221,586 989,071
CREDITORS
Amounts falling due within one year 7 690,168 413,933
NET CURRENT ASSETS 531,418 575,138
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,376,178

2,046,285

CREDITORS
Amounts falling due after more than one year 8 (465,311 ) (665,160 )

PROVISIONS FOR LIABILITIES (460,954 ) (367,713 )
NET ASSETS 1,449,913 1,013,412

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 1,449,713 1,013,212
SHAREHOLDERS' FUNDS 1,449,913 1,013,412

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

RHOALAN TRANSPORT LTD (REGISTERED NUMBER: NI617981)

BALANCE SHEET - continued
31 MARCH 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 27 November 2024 and were signed on its behalf by:




A Armstrong - Director



R Armstrong - Director


RHOALAN TRANSPORT LTD (REGISTERED NUMBER: NI617981)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Rhoalan Transport Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five 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.

Lorries & trailers - 15% reducing balance
Plant & equipment - 20% reducing balance

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.

RHOALAN TRANSPORT LTD (REGISTERED NUMBER: NI617981)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transitional price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 195,000
AMORTISATION
At 1 April 2023
and 31 March 2024 195,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

RHOALAN TRANSPORT LTD (REGISTERED NUMBER: NI617981)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Lorries & Plant &
trailers equipment Totals
£    £    £   
COST
At 1 April 2023 2,094,099 124,426 2,218,525
Additions 784,895 69,248 854,143
Disposals (220,741 ) (42,739 ) (263,480 )
At 31 March 2024 2,658,253 150,935 2,809,188
DEPRECIATION
At 1 April 2023 691,040 56,338 747,378
Charge for year 311,001 20,608 331,609
Eliminated on disposal (106,127 ) (8,432 ) (114,559 )
At 31 March 2024 895,914 68,514 964,428
NET BOOK VALUE
At 31 March 2024 1,762,339 82,421 1,844,760
At 31 March 2023 1,403,059 68,088 1,471,147

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Lorries &
trailers
£   
COST
At 1 April 2023 1,165,400
Disposals (119,500 )
At 31 March 2024 1,045,900
DEPRECIATION
At 1 April 2023 233,689
Charge for year 72,692
Eliminated on disposal (57,120 )
At 31 March 2024 249,261
NET BOOK VALUE
At 31 March 2024 796,639
At 31 March 2023 931,711

RHOALAN TRANSPORT LTD (REGISTERED NUMBER: NI617981)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 518,259 326,869
Other debtors 77,265 18,640
595,524 345,509

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 78,779 142,529
Trade creditors 463,475 126,193
Taxation and social security 65,023 67,170
Accruals 82,891 78,041
690,168 413,933

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 58,542 138,941
Other creditors 406,769 526,219
465,311 665,160

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Directors loan 406,769 526,219