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REGISTERED NUMBER: SC055283 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Tennant Transport Limited

Tennant Transport Limited (Registered number: SC055283)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

Tennant Transport Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: I T Tennant
J M Tennant
G G Sorbie





REGISTERED OFFICE: Ayr Road
Hyndford Bridge
Lanark
Lanarkshire
ML11 8SG





REGISTERED NUMBER: SC055283 (Scotland)





ACCOUNTANTS: Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA

Tennant Transport Limited (Registered number: SC055283)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,674,099 1,999,247
Investment property 6 12,556 12,556
1,686,655 2,011,803

CURRENT ASSETS
Stocks 55,467 84,884
Debtors 7 2,290,565 2,387,467
Cash at bank and in hand 160,795 379,312
2,506,827 2,851,663
CREDITORS
Amounts falling due within one year 8 926,527 1,133,051
NET CURRENT ASSETS 1,580,300 1,718,612
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,266,955

3,730,415

CREDITORS
Amounts falling due after more than one
year

9

(541,356

)

(720,588

)

PROVISIONS FOR LIABILITIES (352,625 ) (448,476 )
NET ASSETS 2,372,974 2,561,351

CAPITAL AND RESERVES
Called up share capital 93,500 93,500
Capital redemption reserve 76,500 76,500
Retained earnings 2,202,974 2,391,351
SHAREHOLDERS' FUNDS 2,372,974 2,561,351

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

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

Tennant Transport Limited (Registered number: SC055283)

Balance Sheet - continued
30 April 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 Board of Directors and authorised for issue on 16 October 2024 and were signed on its behalf by:





J M Tennant - Director


Tennant Transport Limited (Registered number: SC055283)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Tennant Transport Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is derived from haulage services supplied by the company.

Turnover is measured at the fair value of haulage services supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

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 etc - 25% on cost, 15% on cost and 10% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment loss.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the income statement in the period it is incurred.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to the income statement as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amounts of stocks recognised as an expense in the period in which the reversal occurs.


Tennant Transport Limited (Registered number: SC055283)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

3. ACCOUNTING POLICIES - continued
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.

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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2023 - 42 ) .

Tennant Transport Limited (Registered number: SC055283)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 6,452,529
Additions 297,334
Disposals (176,400 )
At 30 April 2024 6,573,463
DEPRECIATION
At 1 May 2023 4,453,282
Charge for year 601,430
Eliminated on disposal (155,348 )
At 30 April 2024 4,899,364
NET BOOK VALUE
At 30 April 2024 1,674,099
At 30 April 2023 1,999,247

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

Plant and
machinery
etc
£   
COST
At 1 May 2023 2,336,023
Transfer to ownership (484,950 )
At 30 April 2024 1,851,073
DEPRECIATION
At 1 May 2023 1,095,249
Charge for year 333,321
Transfer to ownership (212,659 )
At 30 April 2024 1,215,911
NET BOOK VALUE
At 30 April 2024 635,162
At 30 April 2023 1,240,774

Tennant Transport Limited (Registered number: SC055283)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 12,556
NET BOOK VALUE
At 30 April 2024 12,556
At 30 April 2023 12,556

The investment land was valued by the directors at the year end.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,151,403 1,224,787
Other debtors 1,139,162 1,162,680
2,290,565 2,387,467

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 341,055 431,130
Trade creditors 243,029 458,792
Taxation and social security 226,077 175,585
Other creditors 116,366 67,544
926,527 1,133,051

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 541,356 720,588

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 882,411 1,151,718

Tennant Transport Limited (Registered number: SC055283)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

11. RELATED PARTY DISCLOSURES

Key Management Personnel

The company operates loan accounts with the directors. During the year the company advanced £5,712 to the directors. At the year end, the balance due from the directors was £55,547 (2023 - £49,836).

Amounts repayable from key management personnel carry interest of 2% per annum charged on the outstanding balance. The loans are repayable on demand.

Tennant Transport Forth Ltd

At the year end, the balance due from Tennant Transport Forth Ltd was £1,040,000 (2023 - £1,040,000).

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Tennant Transport Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tennant Transport Limited for the year ended 30 April 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Tennant Transport Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Tennant Transport Limited and state those matters that we have agreed to state to the Board of Directors of Tennant Transport Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Tennant Transport Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Tennant Transport Limited. You consider that Tennant Transport Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Tennant Transport Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA


16 October 2024