REGISTRAR OF COMPANIES |
Registration number:
1 February 2023 to
|
Armbley Transport Limited
Contents
Accountants' Report |
|
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Armbley Transport Limited
for the Period Ended 30 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Armbley Transport Limited for the period ended 30 January 2024 as set out on pages 2 to 10 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Armbley Transport Limited, as a body, in accordance with the terms of our engagement letter dated 18 April 2023. Our work has been undertaken solely to prepare for your approval the accounts of Armbley Transport Limited and state those matters that we have agreed to state to the Board of Directors of Armbley Transport Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Armbley Transport Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Armbley Transport Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Armbley Transport Limited. You consider that Armbley Transport Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Armbley 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 accounts.
Chartered Accountants
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW
Armbley Transport Limited
(Registration number: 14554452)
Balance Sheet as at 30 January 2024
Note |
30 January 2024 |
31 January 2023 |
|
Fixed assets |
|||
Tangible assets |
|
- |
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
- |
|
|
|
||
Creditors: Amounts falling due within one year |
( |
- |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
- |
|
Provisions for liabilities |
( |
- |
|
Net assets |
|
|
|
Capital and reserves |
|||
Allotted, called up and fully paid share capital |
|
|
|
Profit and loss account |
|
- |
|
Total equity |
|
|
Armbley Transport Limited
(Registration number: 14554452)
Balance Sheet as at 30 January 2024 (continued)
For the financial period ending 30 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
.........................................
J Robley
Director
Armbley Transport Limited
Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 30 January 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Armbley Transport Limited
Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 30 January 2024 (continued)
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office building |
5% reducing balance |
Vehicles and trailers |
25% reducing balance and straight line over 5 years |
Furniture, fittings and office equipment |
15% reducing balance and straight line over 3 years |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for the sale of goods or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Armbley Transport Limited
Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 30 January 2024 (continued)
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.
Armbley Transport Limited
Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 30 January 2024 (continued)
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
Armbley Transport Limited
Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 30 January 2024 (continued)
Tangible assets |
Office building |
Vehicles and trailers |
Furniture, fittings and office equipment |
Total |
|
Cost or valuation |
||||
Additions |
|
|
|
|
At 30 January 2024 |
|
|
|
|
Depreciation |
||||
Charge for the period |
|
|
|
|
At 30 January 2024 |
|
|
|
|
Carrying amount |
||||
At 30 January 2024 |
|
|
|
|
Debtors |
30 January 2024 |
31 January 2023 |
|
Trade debtors |
|
- |
Other debtors |
|
|
|
|
Creditors |
Armbley Transport Limited
Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 30 January 2024 (continued)
Note |
30 January 2024 |
31 January 2023 |
|
Due within one year |
|||
Loans and borrowings |
|
- |
|
Trade creditors |
|
- |
|
Taxation and social security |
|
- |
|
Other creditors |
|
- |
|
|
- |
||
Due after one year |
|||
Loans and borrowings |
|
- |
Loans and borrowings |
30 January 2024 |
31 January 2023 |
|
Current loans and borrowings |
||
Finance lease liabilities |
57,836 |
- |
Other borrowings |
|
- |
|
- |
Current loans and borrowings includes the following liabilities, on which security has been given by the company:
30 January 2024 |
31 January 2023 |
|
Finance lease liabilities |
|
- |
Other borrowings |
70,946 |
- |
128,782 |
- |
Finance lease liabilities are secured on the assets to which they relate.
Other borrowings are secured by a fixed and floating charge over all the company's assets.
30 January 2024 |
31 January 2023 |
|
Non-current loans and borrowings |
||
Finance lease liabilities |
|
- |
Armbley Transport Limited
Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 30 January 2024 (continued)
Non-current loans and borrowings includes the following liabilities, on which security has been given by the company:
30 January 2024 |
31 January 2023 |
|
Finance lease liabilities |
|
- |
Finance lease liabilities are secured on the assets to which they relate.
Related party transactions |
Transactions with the director |
2024 |
At 1 February 2023 |
Advances |
Repayments |
Other payments |
Dividends credited |
Interest |
At 30 January 2024 |
J Robley |
|||||||
Loan |
|
|
( |
- |
- |
83 |
|
2023 |
At 22 December 2022 |
Advances |
Repayments |
Other payments |
Dividends credited |
Interest |
At 31 January 2023 |
J Robley |
|||||||
Loan |
- |
|
- |
- |
- |
- |
|
Directors' advances are repayable on demand.
Interest has been charged at a rate of 2.25% on advances to directors.