Registered number
04975959
A Hampshire Transport Limited
Filleted Accounts
31 March 2024
A Hampshire Transport Limited
Registered number: 04975959
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 55,868 71,164
Current assets
Debtors 4 163,683 171,840
Cash at bank and in hand 5,092 4,590
168,775 176,430
Creditors: amounts falling due within one year 5 (139,375) (110,715)
Net current assets 29,400 65,715
Total assets less current liabilities 85,268 136,879
Creditors: amounts falling due after more than one year 6 (11,667) (21,667)
Provisions for liabilities (10,020) (13,530)
Net assets 63,581 101,682
Capital and reserves
Called up share capital 100 100
Profit and loss account 63,481 101,582
Shareholders' funds 63,581 101,682
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 members have 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.
A G Hampshire
Director
Approved by the board on 29 November 2024 and signed on its behalf
A Hampshire Transport Limited
Notes to the Accounts
for the year ended 31 March 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 33% straight line
Motor vehicles 25% reducing balance
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 5 8
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 1,603 190,750 192,353
Additions - 3,071 3,071
At 31 March 2024 1,603 193,821 195,424
Depreciation
At 1 April 2023 1,603 119,586 121,189
Charge for the year - 18,367 18,367
At 31 March 2024 1,603 137,953 139,556
Net book value
At 31 March 2024 - 55,868 55,868
At 31 March 2023 - 71,164 71,164
4 Debtors 2024 2023
£ £
Trade debtors 152,862 161,924
Other debtors 10,821 9,916
163,683 171,840
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 20,623 30,688
Trade creditors 76,044 31,552
Taxation and social security costs 21,513 26,053
Other creditors 21,195 22,422
139,375 110,715
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 11,667 21,667
7 Pension commitments
The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently managed fund. At the balance sheet date contributions of £125 (2023 - £97) were due to the fund.
8 Related party transactions
During the year, the company paid A G Hampshire, the director and majority shareholder, a salary in the sum of £8,040 (2023 - £8,040), and declared dividends to him in the sum of £22,400 (2023 - £5,600). At the year-end, the company owed Mr Hampshire £247 (2023 - £324).
9 Controlling party
The company is controlled by Mr A G Hampshire by virtue of his ownership of the majority of the company's shares.
10 Other information
A Hampshire Transport Limited is a private company limited by shares and incorporated in England. Its registered office is:
Second Floor, West Wing
10 Harborne Road
Birmingham
B15 3AA
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