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REGISTERED NUMBER: SC385434 (Scotland)










Financial Statements

For The Year Ended 30 September 2024

for

Pat Boyle Transport Ltd

Pat Boyle Transport Ltd (Registered number: SC385434)

Contents of the Financial Statements
For The Year Ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pat Boyle Transport Ltd

Company Information
For The Year Ended 30 September 2024







DIRECTOR: P Boyle





REGISTERED OFFICE: 91 Alexander Street
Airdrie
ML6 0BD





REGISTERED NUMBER: SC385434 (Scotland)





ACCOUNTANTS: Cahill Jack Associates Limited
91 Alexander Street
Airdrie
North Lanarkshire
ML6 0BD

Pat Boyle Transport Ltd (Registered number: SC385434)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 892,435 626,295
892,435 626,295

CURRENT ASSETS
Debtors 6 151,966 190,703
Cash at bank 59,498 85,582
211,464 276,285
CREDITORS
Amounts falling due within one year 7 283,746 296,172
NET CURRENT LIABILITIES (72,282 ) (19,887 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

820,153

606,408

CREDITORS
Amounts falling due after more than one
year

8

(319,043

)

(143,966

)

PROVISIONS FOR LIABILITIES 10 (219,931 ) (129,641 )
NET ASSETS 281,179 332,801

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 280,179 331,801
SHAREHOLDERS' FUNDS 281,179 332,801

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Pat Boyle Transport Ltd (Registered number: SC385434)

Balance Sheet - continued
30 September 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 January 2025 and were signed by:





P Boyle - Director


Pat Boyle Transport Ltd (Registered number: SC385434)

Notes to the Financial Statements
For The Year Ended 30 September 2024


1. STATUTORY INFORMATION

Pat Boyle Transport Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 derived from income generated in respect of haulage transport services provided net of value added tax.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding value added tax and any other sales taxes The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from agreement to provide services is recognised in the period in which the services are provided when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the agreement.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

Pat Boyle Transport Ltd (Registered number: SC385434)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024


2. ACCOUNTING POLICIES - continued

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.
Plant and machinery - 25% on reducing balance
Motor vehicles - 10% on reducing balance
Computer equipment - 25% on reducing balance

The company adds to the carrying amount of an item of fixed asset the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the
company. Any carrying amount of the replaced part is written off. Repairs and maintenance are charged to
the profit and loss during the year in which they are incurred except for any parts unused at the year end.
Asset residual values, useful lives and depreciation methods of relevant assets are reviewed, and adjusted
prospectively if appropriate. Gains and losses on disposals are determined by comparing the proceeds with
the carrying amount and recognised in the profit and loss during the year of disposal.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

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

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.

Pat Boyle Transport Ltd (Registered number: SC385434)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024


2. ACCOUNTING POLICIES - continued

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.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans, directors' loans and forward currency contracts (derivatives).

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Forward currency contracts are derivative financial instruments. They are measured at fair value. Gains and losses arising from changes in the fair value of derivative financial instruments are included in the profit or loss in the period in which they arise.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss.

Other items
Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest rate method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

Holiday pay
A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 14 ) .

Pat Boyle Transport Ltd (Registered number: SC385434)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 60,000
AMORTISATION
At 1 October 2023
and 30 September 2024 60,000
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 October 2023 10,380 927,201 1,226 938,807
Additions - 347,249 - 347,249
At 30 September 2024 10,380 1,274,450 1,226 1,286,056
DEPRECIATION
At 1 October 2023 10,151 301,312 1,049 312,512
Charge for year 57 81,008 44 81,109
At 30 September 2024 10,208 382,320 1,093 393,621
NET BOOK VALUE
At 30 September 2024 172 892,130 133 892,435
At 30 September 2023 229 625,889 177 626,295

Pat Boyle Transport Ltd (Registered number: SC385434)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 October 2023 735,241
Additions 347,249
At 30 September 2024 1,082,490
DEPRECIATION
At 1 October 2023 259,914
Charge for year 65,952
At 30 September 2024 325,866
NET BOOK VALUE
At 30 September 2024 756,624
At 30 September 2023 475,327

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 151,966 190,703

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,474 7,143
Hire purchase contracts 140,621 117,841
Trade creditors 62,688 87,381
Taxation and social security 40,504 52,590
Other creditors 30,459 31,217
283,746 296,172

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 39,419 9,134
Hire purchase contracts 279,624 134,832
319,043 143,966

Pat Boyle Transport Ltd (Registered number: SC385434)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 48,893 16,277
Hire purchase contracts 420,245 252,673
469,138 268,950

The BBL loan is supported by a 100% guarantee from the UK government.

The company uses Royal Bank of Scotland plc invoice discounting. All book debts are secured to Royal Bank of Scotland plc.

Hire purchase creditors are secured against the assets concerned.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 219,931 129,641

Deferred
tax
£   
Balance at 1 October 2023 129,641
Accelerated capital allowances 66,764
Change in rate of corporation 23,526
Balance at 30 September 2024 219,931

11. ULTIMATE CONTROLLING PARTY

The controlling party is P Boyle.