IRIS Accounts Production v24.3.0.553 03471779 Board of Directors 1.5.23 30.4.24 30.4.24 true false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh034717792023-04-30034717792024-04-30034717792023-05-012024-04-30034717792022-04-30034717792022-05-012023-04-30034717792023-04-3003471779ns15:EnglandWales2023-05-012024-04-3003471779ns14:PoundSterling2023-05-012024-04-3003471779ns10:Director12023-05-012024-04-3003471779ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3003471779ns10:SmallEntities2023-05-012024-04-3003471779ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3003471779ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3003471779ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3003471779ns10:FullAccounts2023-05-012024-04-300347177912023-05-012024-04-3003471779ns10:Director22023-05-012024-04-3003471779ns10:RegisteredOffice2023-05-012024-04-3003471779ns5:CurrentFinancialInstruments2024-04-3003471779ns5:CurrentFinancialInstruments2023-04-3003471779ns5:Non-currentFinancialInstruments2024-04-3003471779ns5:Non-currentFinancialInstruments2023-04-3003471779ns5:ShareCapital2024-04-3003471779ns5:ShareCapital2023-04-3003471779ns5:RetainedEarningsAccumulatedLosses2024-04-3003471779ns5:RetainedEarningsAccumulatedLosses2023-04-3003471779ns5:NetGoodwill2023-05-012024-04-3003471779ns5:NetGoodwill2023-04-3003471779ns5:NetGoodwill2024-04-3003471779ns5:NetGoodwill2023-04-3003471779ns5:PlantMachinery2023-04-3003471779ns5:PlantMachinery2023-05-012024-04-3003471779ns5:PlantMachinery2024-04-3003471779ns5:PlantMachinery2023-04-3003471779ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-04-3003471779ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-3003471779ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2024-04-3003471779ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-04-3003471779ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-04-3003471779ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-04-3003471779ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-04-3003471779ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-04-3003471779ns5:Secured2024-04-3003471779ns5:Secured2023-04-3003471779ns5:DeferredTaxation2023-04-3003471779ns5:DeferredTaxation2023-05-012024-04-3003471779ns5:DeferredTaxation2024-04-30
REGISTERED NUMBER: 03471779 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

M J GRIFFITHS TRANSPORT LIMITED

M J GRIFFITHS TRANSPORT LIMITED (REGISTERED NUMBER: 03471779)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


M J GRIFFITHS TRANSPORT LIMITED

COMPANY INFORMATION
for the Year Ended 30 April 2024







DIRECTORS: M J Griffiths
D Griffiths



REGISTERED OFFICE: 4 Tollgate Crescent
Burscough Industrial Estate
Burscough
Ormskirk
Lancashire
L40 8LT



REGISTERED NUMBER: 03471779 (England and Wales)



ACCOUNTANTS: Fairhurst Accountants Ltd
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB



BANKERS: Natwest Bank Plc
130 Lord Street
Southport
Merseyside
PR9 OAB

M J GRIFFITHS TRANSPORT LIMITED (REGISTERED NUMBER: 03471779)

STATEMENT OF FINANCIAL POSITION
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 30,000 40,000
Tangible assets 5 1,756,057 1,787,495
1,786,057 1,827,495

CURRENT ASSETS
Stocks 18,500 18,500
Debtors 6 2,008,686 2,009,481
Cash at bank and in hand 131,578 1,856
2,158,764 2,029,837
CREDITORS
Amounts falling due within one year 7 2,359,097 2,227,503
NET CURRENT LIABILITIES (200,333 ) (197,666 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,585,724

1,629,829

CREDITORS
Amounts falling due after more than one
year

8

(1,240,325

)

(1,162,990

)

PROVISIONS FOR LIABILITIES 10 (183,700 ) (153,950 )
NET ASSETS 161,699 312,889

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 160,699 311,889
SHAREHOLDERS' FUNDS 161,699 312,889

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.

M J GRIFFITHS TRANSPORT LIMITED (REGISTERED NUMBER: 03471779)

STATEMENT OF FINANCIAL POSITION - 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by:





M J Griffiths - Director


M J GRIFFITHS TRANSPORT LIMITED (REGISTERED NUMBER: 03471779)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

M J Griffiths Transport Limited is a private company, limited by shares , registered in England and Wales. 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the net invoice value of services provided.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Tangible fixed assets are included at cost or valuation less depreciation and impairment.

Depreciation is provided at the following rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery-25% on reducing balance
Fixtures & fittings-20% on reducing balance
Motor vehicles-25% on reducing balance
Computer equipment-33% on reducing balance

Impairment of assets
At each reporting date 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 the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss.

Where an impairment loss subsequently reverses, the carrying amount of each asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

M J GRIFFITHS TRANSPORT LIMITED (REGISTERED NUMBER: 03471779)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Short term trade creditors are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due.
Amounts due to and from related undertakings, included directors, are repayable on demand and are measured at the undiscounted amount due. Other liabilities shall be measured at amortised cost using the effective interest rate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Short term employee 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.

Short term employee benefits are recognised as an expense in the period in which they are incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2023 - 45 ) .

M J GRIFFITHS TRANSPORT LIMITED (REGISTERED NUMBER: 03471779)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 100,000
AMORTISATION
At 1 May 2023 60,000
Charge for year 10,000
At 30 April 2024 70,000
NET BOOK VALUE
At 30 April 2024 30,000
At 30 April 2023 40,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 2,970,193
Additions 494,743
Disposals (207,633 )
At 30 April 2024 3,257,303
DEPRECIATION
At 1 May 2023 1,182,698
Charge for year 471,556
Eliminated on disposal (153,008 )
At 30 April 2024 1,501,246
NET BOOK VALUE
At 30 April 2024 1,756,057
At 30 April 2023 1,787,495


6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 1,166,271 1,114,552
Other debtors 113,524 197,150
1,279,795 1,311,702

M J GRIFFITHS TRANSPORT LIMITED (REGISTERED NUMBER: 03471779)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

6. DEBTORS - continued
2024 2023
£    £   
Amounts falling due after more than one year:
Other debtors 728,891 697,779

Aggregate amounts 2,008,686 2,009,481

The company operates an invoice financing facility under which certain trade debtors are assigned.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 84,452 17,731
Other loans 64,523 40,000
Other loans unsecured 58,205 -
Hire purchase contracts 536,822 479,304
Trade creditors 304,059 441,625
Social security and other taxes 391,062 320,479
Other creditors 63,505 19,872
Invoice financing 745,367 775,976
Directors' current accounts 94,982 104,198
Accrued expenses 16,120 28,318
2,359,097 2,227,503

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 21,988
Other loans 66,331 150,793
Other loans unsecured 141,345 -
Hire purchase contracts 1,032,649 990,209
1,240,325 1,162,990

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 84,452 7,731
Other loans 130,854 190,793
Hire purchase 1,323,471 1,473,006
Invoice financing 762,906 775,976
2,301,683 2,447,506

Bank overdraft is secured by way of a cross company guarantee.
The other loan is secured by a personal guarantee provided by the director.
Hire purchase contracts are secured on the assets concerned.
Invoice financing liabilities are secured by way of a fixed and floating charge over all fixed assets.

M J GRIFFITHS TRANSPORT LIMITED (REGISTERED NUMBER: 03471779)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 183,700 153,950

Deferred
tax
£   
Balance at 1 May 2023 153,950
Charge to Statement of Income and Retained Earnings during year 29,750
Balance at 30 April 2024 183,700

11. OTHER FINANCIAL COMMITMENTS

The company has total operating lease commitments amounting to £200,915 (2023: £289,611).

A company in which the director holds shares has provided a guarantee limited to £50,000.

12. RELATED PARTY DISCLOSURES

During the year the following transactions were undertaken with M J Griffiths (Properties) Limited, a company
in which M J Griffiths is a director and shareholder:

Paid funds of £81,112 (2023: £78,867), received funds of £8,333 (2023: £11,832) and charged rents of £41,667 (2023: £41,667). A balance of £728,891 (2023: £697,779) is outstanding at the year end.

Re-charged management costs of £24,000 (2023: £24,000).