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COMPANY REGISTRATION NUMBER: 10628511
PETER McCALLUM TRANSPORT LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 May 2024
PETER McCALLUM TRANSPORT LIMITED
STATEMENT OF FINANCIAL POSITION
31 May 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Investments
4
585,420
585,420
CURRENT ASSETS
Cash at bank and in hand
82
82
CREDITORS: amounts falling due within one year
5
585,420
585,420
---------
---------
NET CURRENT LIABILITIES
585,338
585,338
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
82
82
----
----
CAPITAL AND RESERVES
Called up share capital fully paid
100
100
Profit and loss account
( 18)
( 18)
----
----
SHAREHOLDERS FUNDS
82
82
----
----
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 statement of income and retained earnings has not been delivered.
For the year ending 31 May 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 27 August 2024 , and are signed on behalf of the board by:
Mr P McCallum
Director
Company registration number: 10628511
PETER McCALLUM TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Orchard House, Chelveston Road, Wellingborough, NN9 6DA.
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.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
4. INVESTMENTS
Shares in group undertakings
£
Cost
At 1 June 2023 and 31 May 2024
585,420
---------
Impairment
At 1 June 2023 and 31 May 2024
---------
Carrying amount
At 31 May 2024
585,420
---------
At 31 May 2023
585,420
---------
5. CREDITORS: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
390,320
380,320
Other creditors
195,100
205,100
---------
---------
585,420
585,420
---------
---------