Registered number
04481884
MRB Transport Hampshire Ltd
Filleted Accounts
30 September 2024
MRB Transport Hampshire Ltd
Registered number: 04481884
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 686,014 769,693
Current assets
Debtors 4 260,876 224,345
Cash at bank and in hand 269,115 186,542
529,991 410,887
Creditors: amounts falling due within one year 5 (370,885) (301,512)
Net current assets 159,106 109,375
Total assets less current liabilities 845,120 879,068
Creditors: amounts falling due after more than one year 6 (126,604) (212,988)
Provisions for liabilities (171,504) (146,242)
Net assets 547,012 519,838
Capital and reserves
Called up share capital 80 80
Capital redemption reserve 20 20
Profit and loss account 546,912 519,738
Shareholder's funds 547,012 519,838
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
W Burton
Director
Approved by the board on 14 November 2024
MRB Transport Hampshire Ltd
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Motor vehicles variable rates on a reducing balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 12
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 103,478 1,427,941 1,531,419
Additions 6,000 111,557 117,557
Disposals - (72,600) (72,600)
At 30 September 2024 109,478 1,466,898 1,576,376
Depreciation
At 1 October 2023 43,104 718,622 761,726
Charge for the year 12,478 151,336 163,814
On disposals - (35,178) (35,178)
At 30 September 2024 55,582 834,780 890,362
Net book value
At 30 September 2024 53,896 632,118 686,014
At 30 September 2023 60,374 709,319 769,693
4 Debtors 2024 2023
£ £
Trade debtors 236,129 196,626
Other debtors 24,747 27,719
260,876 224,345
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,188 9,928
Obligations under finance lease and hire purchase contracts 140,491 146,317
Trade creditors 36,761 31,382
Amounts owed to group undertakings and undertakings in which the company has a participating interest 20,000 30,000
Taxation and social security costs 109,106 38,527
Other creditors 54,339 45,358
370,885 301,512
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 7,151 17,482
Obligations under finance lease and hire purchase contracts 119,453 195,506
126,604 212,988
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 1,340 14,692
8 Controlling party
The ultimate parent undertaking is MRB Transport Holdings Ltd.
Mr W Burton has ultimate control of the parent undertaking.
9 Other information
MRB Transport Hampshire Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 1 Ash Hill Common
Bunny Lane
Sherfield English
Romsey
SO51 6FU
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