48 false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 07107821 2023-01-01 2023-12-31 07107821 2023-12-31 07107821 2022-12-31 07107821 2022-01-01 2022-12-31 07107821 2022-12-31 07107821 core:MotorVehicles 2023-01-01 2023-12-31 07107821 bus:Director1 2023-01-01 2023-12-31 07107821 core:MotorVehicles 2022-12-31 07107821 core:MotorVehicles 2023-12-31 07107821 core:WithinOneYear 2023-12-31 07107821 core:WithinOneYear 2022-12-31 07107821 core:AfterOneYear 2023-12-31 07107821 core:AfterOneYear 2022-12-31 07107821 core:ShareCapital 2023-12-31 07107821 core:ShareCapital 2022-12-31 07107821 core:RetainedEarningsAccumulatedLosses 2023-12-31 07107821 core:RetainedEarningsAccumulatedLosses 2022-12-31 07107821 core:BetweenOneFiveYears 2023-12-31 07107821 core:BetweenOneFiveYears 2022-12-31 07107821 core:MotorVehicles 2022-12-31 07107821 bus:SmallEntities 2023-01-01 2023-12-31 07107821 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 07107821 bus:FullAccounts 2023-01-01 2023-12-31 07107821 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07107821 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 07107821
COLLIER HAULAGE (SOUTH WALES) LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2023
COLLIER HAULAGE (SOUTH WALES) LIMITED
FINANCIAL STATEMENTS
Year ended 31 December 2023
CONTENTS
PAGE
Balance sheet
1
Notes to the financial statements
3
COLLIER HAULAGE (SOUTH WALES) LIMITED
BALANCE SHEET
31 December 2023
2023
2022
Note
£
£
FIXED ASSETS
Tangible assets
5
3,107,438
1,871,483
CURRENT ASSETS
Debtors
6
1,305,045
1,240,993
Cash at bank and in hand
47,398
119,493
------------
------------
1,352,443
1,360,486
CREDITORS: amounts falling due within one year
7
( 1,718,765)
( 1,212,433)
------------
------------
NET CURRENT (LIABILITIES)/ASSETS
( 366,322)
148,053
------------
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
2,741,116
2,019,536
CREDITORS: amounts falling due after more than one year
8
( 2,195,906)
( 1,238,538)
PROVISIONS
( 99,074)
( 158,490)
------------
------------
NET ASSETS
446,136
622,508
------------
------------
CAPITAL AND RESERVES
Called up share capital
10
10
Profit and loss account
446,126
622,498
---------
---------
SHAREHOLDERS FUNDS
446,136
622,508
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
COLLIER HAULAGE (SOUTH WALES) LIMITED
BALANCE SHEET (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 29 November 2024 , and are signed on behalf of the board by:
Mr G Griffiths
Director
Company registration number: 07107821
COLLIER HAULAGE (SOUTH WALES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
Year ended 31 December 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 38 Maryport Street, Usk, Monmouthshire, NP15 1AE.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts show that the company had losses of £138,774 at the balance sheet date. The directors have therefore had to consider the appropriateness of the going concern basis. The company has been able to finance its operations largely because of support from the directors and other creditors. Were this support not available, the company may not be able to continue trading. The directors are confident that the company will be able to meet its obligations for at least the next twelve months with the continuing support of these creditors. They therefore consider it appropriate to prepare the accounts on the going concern basis.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents accounts receivable for haulage services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
20% straight line
Equipment
-
25% straight line
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 48 (2022: 48 ).
5. TANGIBLE ASSETS
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 January 2023
3,755,360
64,943
3,820,303
Additions
2,002,325
995
2,003,320
Disposals
( 213,780)
( 33,745)
( 247,525)
------------
--------
------------
At 31 December 2023
5,543,905
32,193
5,576,098
------------
--------
------------
Depreciation
At 1 January 2023
1,886,816
62,004
1,948,820
Charge for the year
765,209
878
766,087
Disposals
( 213,313)
( 32,934)
( 246,247)
------------
--------
------------
At 31 December 2023
2,438,712
29,948
2,468,660
------------
--------
------------
Carrying amount
At 31 December 2023
3,105,193
2,245
3,107,438
------------
--------
------------
At 31 December 2022
1,868,544
2,939
1,871,483
------------
--------
------------
6. DEBTORS
2023
2022
£
£
Trade debtors
1,260,755
1,207,160
Other debtors
44,290
33,833
------------
------------
1,305,045
1,240,993
------------
------------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
464,224
209,507
Trade creditors
291,946
238,503
Social security and other taxes
139,823
94,991
Other creditors
822,772
669,432
------------
------------
1,718,765
1,212,433
------------
------------
The above includes secured hire purchase liabilities of £778,194 (2022 - £649,807). These balances are secured over the assets to which they relate. Also included above is a balance of £464,224 (2022 - £209,507) secured on trade debtors.
8. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Other creditors
2,195,906
1,238,538
------------
------------
The above includes secured hire purchase liabilities of £2,143,332 (2022 - £1,183,320). These balances are secured over the assets to which they relate.
9. OPERATING LEASES
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
60,000
149,124
Later than 1 year and not later than 5 years
55,000
115,000
---------
---------
115,000
264,124
---------
---------
10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
Included within other creditors is £65,717 (2022 - £69,023) due to the director. This balance is interest free and repayable on demand.