Registered number
14209590
Weeks Haulage Limited
Unaudited Filleted Accounts
31 August 2024
Weeks Haulage Limited
Registered number: 14209590
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 256,746 298,910
Current assets
Debtors 4 12,773 117,172
Cash at bank and in hand 30,394 37,342
43,167 154,514
Creditors: amounts falling due within one year 5 (254,509) (456,977)
Net current liabilities (211,342) (302,463)
Total assets less current liabilities 45,404 (3,553)
Provisions for liabilities (56,654) (42,842)
Net liabilities (11,250) (46,395)
Capital and reserves
Called up share capital 2 2
Profit and loss account (11,252) (46,397)
Shareholders' funds (11,250) (46,395)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J W Weeks
Director
Approved by the board on 13 January 2025
Weeks Haulage Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles over 8 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors/creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable/payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 September 2023 303,142
Disposals (5,000)
At 31 August 2024 298,142
Depreciation
At 1 September 2023 4,232
Charge for the year 37,164
At 31 August 2024 41,396
Net book value
At 31 August 2024 256,746
At 31 August 2023 298,910
4 Debtors 2024 2023
£ £
Trade debtors 6,565 59,455
Other debtors 6,208 57,717
12,773 117,172
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 121 -
Taxation and social security costs 20,447 -
Other creditors 233,941 456,977
254,509 456,977
6 Related party transactions
In the year, there were intercompany loans from/(to) the following related close companies controlled by the directors:
2024 2023
£ £
Weeks Forestry Limited (233,350) (453,604)
Weeks Holdings Limited 2 2
(233,348) (453,602)
7 Other information
Weeks Haulage Limited is a private company limited by shares and incorporated in England. Its registered office is:
5 Providence Court
Pynes Hill
Exeter
Devon
EX2 5JL
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