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Company registration number:
NI058691
R Potts Haulage Limited
Unaudited filleted financial statements
30 April 2024
R Potts Haulage Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
R Potts Haulage Limited
Directors and other information
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Directors |
Robert Potts |
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Irene Potts |
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Secretary |
Irene Potts |
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Company number |
NI058691 |
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Registered office |
41 Drumanphy Road |
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Portadown |
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Craigavon |
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Co Armagh |
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BT62 1QY |
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Accountants |
ASM (D) Ltd |
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79 Cunninghams Lane |
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Dungannon |
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Co Tyrone |
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BT71 6BX |
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Bankers |
Danske Bank |
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45-48 High Street |
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Portadown |
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Co Armagh |
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BT62 1LB |
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R Potts Haulage Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of R Potts Haulage Limited
Year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of R Potts Haulage Limited for the year ended 30 April 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of Chartered Accountants Ireland, we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.
This report is made solely to the board of directors of R Potts Haulage Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of R Potts Haulage Limited and state those matters that we have agreed to state to the board of directors of R Potts Haulage Limited as a body, in this report in accordance with the requirements of Chartered Accountants Ireland, as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than R Potts Haulage Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that R Potts Haulage 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 profit of R Potts Haulage Limited. You consider that R Potts Haulage 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 R Potts Haulage 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.
ASM (D) Ltd
Chartered Accountants
79 Cunninghams Lane
Dungannon
Co Tyrone
BT71 6BX
31 January 2025
R Potts Haulage Limited
Statement of financial position
30 April 2024
|
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2024 |
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2023 |
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Note |
£ |
|
£ |
|
£ |
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£ |
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Fixed assets |
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|
|
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|
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Tangible assets |
|
5 |
404,304 |
|
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|
410,532 |
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|
|
|
|
________ |
|
|
|
________ |
|
|
|
|
|
|
|
404,304 |
|
|
|
410,532 |
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|
|
|
|
|
|
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Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
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|
4,000 |
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|
4,000 |
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|
Debtors |
|
6 |
1,237,963 |
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|
995,056 |
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Cash at bank and in hand |
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|
28,181 |
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116,279 |
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________ |
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________ |
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1,270,144 |
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1,115,335 |
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Creditors: amounts falling due |
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|
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|
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within one year |
|
7 |
(
537,582) |
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|
(
510,544) |
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________ |
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________ |
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Net current assets |
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732,562 |
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604,791 |
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________ |
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________ |
Total assets less current liabilities |
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1,136,866 |
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1,015,323 |
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Creditors: amounts falling due |
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after more than one year |
|
8 |
|
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(
218,779) |
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(
220,820) |
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Provisions for liabilities |
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(
101,076) |
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(
102,634) |
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________ |
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________ |
Net assets |
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817,011 |
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691,869 |
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________ |
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________ |
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Capital and reserves |
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Called up share capital |
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2 |
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2 |
Profit and loss account |
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817,009 |
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691,867 |
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________ |
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________ |
Shareholders funds |
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817,011 |
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691,869 |
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________ |
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________ |
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For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
31 January 2025
, and are signed on behalf of the board by:
Robert Potts
Director
Company registration number:
NI058691
R Potts Haulage Limited
Notes to the financial statements
Year ended 30 April 2024
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 41 Drumanphy Road, Portadown, Craigavon, Co Armagh, BT62 1QY.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Plant and machinery |
- |
25 % |
straight line |
|
Motor vehicles |
- |
25 % |
reducing balance |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
5
(2023:
5
).
5.
Tangible assets
|
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Plant and machinery |
Motor vehicles |
Total |
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|
£ |
£ |
£ |
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Cost |
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At 1 May 2023 |
142,184 |
981,288 |
1,123,472 |
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Additions |
- |
121,750 |
121,750 |
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________ |
________ |
________ |
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At 30 April 2024 |
142,184 |
1,103,038 |
1,245,222 |
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________ |
________ |
________ |
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Depreciation |
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At 1 May 2023 |
119,574 |
593,366 |
712,940 |
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Charge for the year |
13,241 |
114,737 |
127,978 |
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________ |
________ |
________ |
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At 30 April 2024 |
132,815 |
708,103 |
840,918 |
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________ |
________ |
________ |
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Carrying amount |
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At 30 April 2024 |
9,369 |
394,935 |
404,304 |
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________ |
________ |
________ |
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At 30 April 2023 |
22,610 |
387,922 |
410,532 |
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|
|
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________ |
________ |
________ |
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The net book value of tangible fixed assets includes an amount of £382,767(2023: £380,308 ) held under finance leases and hire purchase contracts. Depreciation of £119,290 (2023: £99,859) was charged in these assets in the year.
6.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade debtors |
|
294,691 |
263,120 |
|
Other debtors |
|
943,272 |
731,936 |
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________ |
________ |
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|
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1,237,963 |
995,056 |
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________ |
________ |
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|
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7.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
11,216 |
10,647 |
|
Trade creditors |
|
43,203 |
51,994 |
|
Corporation tax |
|
181,259 |
124,620 |
|
Social security and other taxes |
|
127,606 |
130,835 |
|
Other creditors |
|
169,814 |
187,967 |
|
|
|
________ |
________ |
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|
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533,098
|
506,063
|
|
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|
________ |
________ |
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Obligations under hire purchases contracts of £295,112 (2023: £308,034) are secured on the assets for which the finance was orignally obtained. A bounce back loan of £22,159 (2023: 32,380) is guaranteed by the UK Government under the Bounce Back Loan Scheme. The loan is repayable over 6 years with a rate of interest of 2.5%.
8.
Creditors: amounts falling due after more than one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
10,943 |
21,733 |
|
Other creditors |
|
207,836 |
199,087 |
|
|
|
________ |
________ |
|
|
|
218,779 |
220,820 |
|
|
|
________ |
________ |
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|