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REGISTERED NUMBER: 03967264















MARTIN GALT TRANSPORT LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024






MARTIN GALT TRANSPORT LIMITED (REGISTERED NUMBER: 03967264)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


MARTIN GALT TRANSPORT LIMITED (REGISTERED NUMBER: 03967264)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 674,823 720,303
674,823 720,303

CURRENT ASSETS
Stocks 14,059 12,173
Debtors 6 203,289 225,516
Cash at bank 43,007 154,599
260,355 392,288
CREDITORS
Amounts falling due within one year 7 323,914 369,039
NET CURRENT (LIABILITIES)/ASSETS (63,559 ) 23,249
TOTAL ASSETS LESS CURRENT
LIABILITIES

611,264

743,552

CREDITORS
Amounts falling due after more than
one year

8

(165,498

)

(303,879

)

PROVISIONS FOR LIABILITIES (89,103 ) (81,846 )
NET ASSETS 356,663 357,827

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings 306,663 307,827
SHAREHOLDERS' FUNDS 356,663 357,827

MARTIN GALT TRANSPORT LIMITED (REGISTERED NUMBER: 03967264)

BALANCE SHEET - continued
30 JUNE 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2024 and were signed on its behalf by:





M J Galt - Director


MARTIN GALT TRANSPORT LIMITED (REGISTERED NUMBER: 03967264)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Martin Galt Transport Limited is a private company limited by shares. The company is registered in England under number 03967264 and the address of the registered office is Barclays Bank Chambers, Stratford Upon Avon, Warwickshire, CV37 6AH. The company's place of business is 11 Dugdale Avenue, Bidford Upon Avon, Warwickshire, B50 4QE.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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 is stated at cost and is amortised in equal annual instalments over its estimated remaining useful life.

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 the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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.


MARTIN GALT TRANSPORT LIMITED (REGISTERED NUMBER: 03967264)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. 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 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 and loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 25,000
AMORTISATION
At 1 July 2023
and 30 June 2024 25,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

MARTIN GALT TRANSPORT LIMITED (REGISTERED NUMBER: 03967264)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 1,290,444
Additions 100,794
Disposals (76,168 )
At 30 June 2024 1,315,070
DEPRECIATION
At 1 July 2023 570,141
Charge for year 119,221
Eliminated on disposal (49,115 )
At 30 June 2024 640,247
NET BOOK VALUE
At 30 June 2024 674,823
At 30 June 2023 720,303

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 July 2023 721,400
Additions 49,000
Transfer to ownership (185,500 )
At 30 June 2024 584,900
DEPRECIATION
At 1 July 2023 216,688
Charge for year 65,427
Transfer to ownership (67,968 )
At 30 June 2024 214,147
NET BOOK VALUE
At 30 June 2024 370,753
At 30 June 2023 504,712

MARTIN GALT TRANSPORT LIMITED (REGISTERED NUMBER: 03967264)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 199,833 190,291
Other debtors 3,456 35,225
203,289 225,516

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 101,550 138,791
Trade creditors 161,921 164,465
Taxation and social security 42,602 45,815
Other creditors 7,841 9,968
323,914 369,039

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 1,745 20,000
Hire purchase contracts 51,792 145,441
Other creditors 111,961 138,438
165,498 303,879

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 153,342 284,232