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Registered number: 14058173
Defiant Transport Services Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Gregory Priestley & Stewart
Chartered Accountants
Alexandra House
123 Priestsic Road
Sutton In Ashfield
Nottinghamshire
NG17 4EA
Contents
Page
Company Information 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Director Mr Greg Beadle
Company Number 14058173
Registered Office Alexandra House
123 Priestsic Road
Sutton In Ashfield
Nottinghamshire
NG17 4EA
Accountants Gregory Priestley & Stewart
Chartered Accountants
Alexandra House
123 Priestsic Road
Sutton In Ashfield
Nottinghamshire
NG17 4EA
Page 1
Page 2
Statement of Financial Position
Registered number: 14058173
30 April 2024 30 April 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 31,723 5,434
31,723 5,434
CURRENT ASSETS
Debtors 5 8,268 5,395
Cash at bank and in hand 14,271 3,480
22,539 8,875
Creditors: Amounts Falling Due Within One Year 6 (16,575 ) (6,334 )
NET CURRENT ASSETS (LIABILITIES) 5,964 2,541
TOTAL ASSETS LESS CURRENT LIABILITIES 37,687 7,975
Creditors: Amounts Falling Due After More Than One Year 7 (21,928 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,198 ) -
NET ASSETS 14,561 7,975
CAPITAL AND RESERVES
Called up share capital 9 100 100
Income Statement 14,461 7,875
SHAREHOLDERS' FUNDS 14,561 7,975
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For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Greg Beadle
Director
17/01/2025
The notes on pages 4 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Defiant Transport Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14058173 . The registered office is Alexandra House, 123 Priestsic Road, Sutton In Ashfield, Nottinghamshire, NG17 4EA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the entity.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
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2.5. Taxation
Taxation represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Debtors and creditors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 1)
2 1
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 May 2023 - 7,245 7,245
Additions 30,999 5,905 36,904
As at 30 April 2024 30,999 13,150 44,149
Depreciation
As at 1 May 2023 - 1,811 1,811
Provided during the period 7,750 2,865 10,615
As at 30 April 2024 7,750 4,676 12,426
Net Book Value
As at 30 April 2024 23,249 8,474 31,723
As at 1 May 2023 - 5,434 5,434
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5. Debtors
30 April 2024 30 April 2023
£ £
Due within one year
Trade debtors 6,452 5,395
Other debtors 1,816 -
8,268 5,395
6. Creditors: Amounts Falling Due Within One Year
30 April 2024 30 April 2023
£ £
Net obligations under finance lease and hire purchase contracts 4,722 -
Other creditors 835 6,260
Taxation and social security 11,018 74
16,575 6,334
7. Creditors: Amounts Falling Due After More Than One Year
30 April 2024 30 April 2023
£ £
Net obligations under finance lease and hire purchase contracts 21,928 -
8. Obligations Under Finance Leases and Hire Purchase
30 April 2024 30 April 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,722 -
Later than one year and not later than five years 21,928 -
26,650 -
26,650 -
9. Share Capital
30 April 2024 30 April 2023
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
At the balance sheet date, the directors were owed £835 (2023: £6,260) by the company.
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