D S Waterhouse Haulage Ltd 10878930 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is road haulage services. Digita Accounts Production Advanced 6.30.9574.0 true true 10878930 2023-05-01 2024-04-30 10878930 2024-04-30 10878930 2 2024-04-30 10878930 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-04-30 10878930 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-04-30 10878930 core:CurrentFinancialInstruments 2024-04-30 10878930 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 10878930 core:Non-currentFinancialInstruments 2024-04-30 10878930 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 10878930 core:Goodwill 2024-04-30 10878930 core:FurnitureFittingsToolsEquipment 2024-04-30 10878930 bus:SmallEntities 2023-05-01 2024-04-30 10878930 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 10878930 bus:FilletedAccounts 2023-05-01 2024-04-30 10878930 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 10878930 bus:RegisteredOffice 2023-05-01 2024-04-30 10878930 bus:Director1 2023-05-01 2024-04-30 10878930 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10878930 core:Goodwill 2023-05-01 2024-04-30 10878930 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 10878930 core:PlantMachinery 2023-05-01 2024-04-30 10878930 countries:EnglandWales 2023-05-01 2024-04-30 10878930 2023-04-30 10878930 core:Goodwill 2023-04-30 10878930 core:FurnitureFittingsToolsEquipment 2023-04-30 10878930 2022-05-01 2023-04-30 10878930 2023-04-30 10878930 2 2023-04-30 10878930 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-04-30 10878930 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-04-30 10878930 core:CurrentFinancialInstruments 2023-04-30 10878930 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 10878930 core:Non-currentFinancialInstruments 2023-04-30 10878930 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 10878930 core:Goodwill 2023-04-30 10878930 core:FurnitureFittingsToolsEquipment 2023-04-30 iso4217:GBP xbrli:pure

Registration number: 10878930

D S Waterhouse Haulage Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

D S Waterhouse Haulage Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

D S Waterhouse Haulage Ltd

(Registration number: 10878930)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

167

Tangible assets

5

123,361

139,048

 

123,361

139,215

Current assets

 

Debtors

6

16,602

17,072

Cash at bank and in hand

 

28,992

24,240

 

45,594

41,312

Creditors: Amounts falling due within one year

7

(74,779)

(79,609)

Net current liabilities

 

(29,185)

(38,297)

Total assets less current liabilities

 

94,176

100,918

Creditors: Amounts falling due after more than one year

7

(40,419)

(64,092)

Provisions for liabilities

(23,438)

(26,419)

Net assets

 

30,319

10,407

Capital and reserves

 

Called up share capital

101

101

Retained earnings

30,218

10,306

Shareholders' funds

 

30,319

10,407

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

D S Waterhouse Haulage Ltd

(Registration number: 10878930)
Balance Sheet as at 30 April 2024

Approved and authorised by the Board on 31 October 2024 and signed on its behalf by:
 

.........................................
D S Waterhouse
Director

 

D S Waterhouse Haulage Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7a King Street
Frome
Somerset
BA11 1BH

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

D S Waterhouse Haulage Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5 years straight line method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

D S Waterhouse Haulage Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

D S Waterhouse Haulage Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

10,000

10,000

At 30 April 2024

10,000

10,000

Amortisation

At 1 May 2023

9,833

9,833

Amortisation charge

167

167

At 30 April 2024

10,000

10,000

Net book value

At 30 April 2024

-

-

At 30 April 2023

167

167

5

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2023

225,140

225,140

Additions

8,000

8,000

At 30 April 2024

233,140

233,140

Depreciation

At 1 May 2023

86,092

86,092

Charge for the year

23,687

23,687

At 30 April 2024

109,779

109,779

Net book value

At 30 April 2024

123,361

123,361

At 30 April 2023

139,048

139,048

 

D S Waterhouse Haulage Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

16,602

3,560

Income tax asset

-

13,512

 

16,602

17,072

7

Creditors

Amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

23,673

22,505

Trade creditors

 

4,122

2,596

Taxation and social security

 

18,432

28,730

Accruals and deferred income

 

1,988

1,898

Other creditors

 

26,564

23,880

 

74,779

79,609

Amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

40,419

64,092

 

D S Waterhouse Haulage Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

11,897

19,173

Hire purchase contracts

28,522

44,919

40,419

64,092

Current loans and borrowings

2024
£

2023
£

Bank borrowings

7,276

7,093

Hire purchase contracts

16,397

15,412

23,673

22,505