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REGISTRAR OF COMPANIES

Registration number: 14554452

Armbley Transport Limited

Unaudited Financial Statements

1 February 2023 to 30 January 2024

image-name

 

Armbley Transport Limited

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

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.



Dodd & Co Limited
Chartered Accountants
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW

7 December 2024

 

Armbley Transport Limited

(Registration number: 14554452)
Balance Sheet as at 30 January 2024

Note

30 January 2024
£

31 January 2023
£

Fixed assets

 

Tangible assets

4

307,271

-

Current assets

 

Debtors

5

256,933

100

Cash at bank and in hand

 

10,137

-

 

267,070

100

Creditors: Amounts falling due within one year

6

(253,264)

-

Net current assets

 

13,806

100

Total assets less current liabilities

 

321,077

100

Creditors: Amounts falling due after more than one year

6

(185,864)

-

Provisions for liabilities

(23,335)

-

Net assets

 

111,878

100

Capital and reserves

 

Allotted, called up and fully paid share capital

100

100

Profit and loss account

111,778

-

Total equity

 

111,878

100

 

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 members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

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 Board on 7 December 2024
 

.........................................

J Robley

Director

 

Armbley Transport Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 30 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Sunnybank
Carlisle Road
Longtown
CARLISLE
CA6 5SQ

2

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2 (2023 - 1).

 

Armbley Transport Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 30 January 2024 (continued)

4

Tangible assets

Office building
 £

Vehicles and trailers
 £

Furniture, fittings and office equipment
 £

Total
£

Cost or valuation

Additions

14,314

349,398

3,921

367,633

At 30 January 2024

14,314

349,398

3,921

367,633

Depreciation

Charge for the period

596

59,174

592

60,362

At 30 January 2024

596

59,174

592

60,362

Carrying amount

At 30 January 2024

13,718

290,224

3,329

307,271

5

Debtors

30 January 2024
£

31 January 2023
£

Trade debtors

99,077

-

Other debtors

157,856

100

256,933

100

6

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

7

128,782

-

Trade creditors

 

33,540

-

Taxation and social security

 

43,831

-

Other creditors

 

47,111

-

 

253,264

-

Due after one year

 

Loans and borrowings

7

185,864

-

7

Loans and borrowings

30 January 2024
£

31 January 2023
£

Current loans and borrowings

Finance lease liabilities

57,836

-

Other borrowings

70,946

-

128,782

-

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

57,836

-

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

185,864

-

 

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

185,864

-

Finance lease liabilities are secured on the assets to which they relate.

 

8

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

100

135,608

(122,854)

-

-

83

12,937

               
         

 

2023

At 22 December 2022
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 31 January 2023
£

J Robley

Loan

-

100

-

-

-

-

100

               
         

 

Directors' advances are repayable on demand.

Interest has been charged at a rate of 2.25% on advances to directors.