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WESTMINSTER TRANSPORT SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






WESTMINSTER TRANSPORT SERVICES LIMITED (REGISTERED NUMBER: 05316757)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WESTMINSTER TRANSPORT SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: J Dodsworth





SECRETARY: Mrs F E Dodsworth





REGISTERED OFFICE: 34 Clayton Lane
Clayton
Bradford
West Yorkshire
BD14 6PB





REGISTERED NUMBER: 05316757 (England and Wales)





ACCOUNTANTS: Wilkinson and Partners
Chartered Accountants
Fairfax House
6a Mill Field Road
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PY

WESTMINSTER TRANSPORT SERVICES LIMITED (REGISTERED NUMBER: 05316757)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 2,188 4,438
Tangible assets 6 117,585 156,751
119,773 161,189

CURRENT ASSETS
Debtors 7 45,949 36,424
Cash at bank 251,351 262,442
297,300 298,866
CREDITORS
Amounts falling due within one year 8 240,593 220,602
NET CURRENT ASSETS 56,707 78,264
TOTAL ASSETS LESS CURRENT LIABILITIES 176,480 239,453

CREDITORS
Amounts falling due after more than one
year

9

(36,571

)

(66,087

)

PROVISIONS FOR LIABILITIES 11 (21,965 ) (26,509 )
NET ASSETS 117,944 146,857

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 117,844 146,757
SHAREHOLDERS' FUNDS 117,944 146,857

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 director acknowledges his 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.

WESTMINSTER TRANSPORT SERVICES LIMITED (REGISTERED NUMBER: 05316757)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 December 2024 and were signed by:





J Dodsworth - Director


WESTMINSTER TRANSPORT SERVICES LIMITED (REGISTERED NUMBER: 05316757)

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


1. STATUTORY INFORMATION

Westminster Transport Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 2005, is being amortised evenly over its estimated useful life of twenty 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.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


WESTMINSTER TRANSPORT SERVICES LIMITED (REGISTERED NUMBER: 05316757)

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


3. ACCOUNTING POLICIES - continued
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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 45,000
AMORTISATION
At 1 April 2023 40,562
Charge for year 2,250
At 31 March 2024 42,812
NET BOOK VALUE
At 31 March 2024 2,188
At 31 March 2023 4,438

WESTMINSTER TRANSPORT SERVICES LIMITED (REGISTERED NUMBER: 05316757)

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


6. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 2,730 304,533 1,133 308,396
DEPRECIATION
At 1 April 2023 2,507 148,005 1,133 151,645
Charge for year 34 39,132 - 39,166
At 31 March 2024 2,541 187,137 1,133 190,811
NET BOOK VALUE
At 31 March 2024 189 117,396 - 117,585
At 31 March 2023 223 156,528 - 156,751

The net book value of tangible fixed assets includes £ 91,049 (2023 - £ 109,569 ) in respect of assets held under hire purchase contracts.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 26,250 15,294
Other debtors 16,400 18,800
Prepayments 3,299 2,330
45,949 36,424

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 20,076 26,263
Trade creditors 24,241 15,278
Tax 14,881 9,274
Social security and other taxes 5,168 4,793
VAT 19,260 25,325
Other creditors 2,947 1,953
Directors' current accounts 152,445 136,214
Accrued expenses 1,575 1,502
240,593 220,602

The director's loan account is interest free and repayable on demand.

WESTMINSTER TRANSPORT SERVICES LIMITED (REGISTERED NUMBER: 05316757)

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


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts - 20,373
Accruals and deferred income 36,571 45,714
36,571 66,087

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 20,076 46,636

Hire purchase debts are secured through a charge over the asset forming the subject of the agreement.

11. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 21,965 26,509

Deferred
tax
£   
Balance at 1 April 2023 26,509
Accelerated capital allowances (4,544 )
Balance at 31 March 2024 21,965

The provision for deferred taxation is entirely in respect of accelerated capital allowances.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1.00 100 100

13. ULTIMATE CONTROLLING PARTY

Mr J Dodsworth has a beneficial interest in the entire issued share capital and therefore controls the Company.