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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
Directors Robert Potts
Irene Potts
Secretary Irene Potts
Company number NI058691
Registered office 41 Drumanphy Road
Portadown
Craigavon
Co Armagh
BT62 1QY
Accountants ASM (D) Ltd
79 Cunninghams Lane
Dungannon
Co Tyrone
BT71 6BX
Bankers Danske Bank
45-48 High Street
Portadown
Co Armagh
BT62 1LB
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
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 404,304 410,532
________ ________
404,304 410,532
Current assets
Stocks 4,000 4,000
Debtors 6 1,237,963 995,056
Cash at bank and in hand 28,181 116,279
________ ________
1,270,144 1,115,335
Creditors: amounts falling due
within one year 7 ( 537,582) ( 510,544)
________ ________
Net current assets 732,562 604,791
________ ________
Total assets less current liabilities 1,136,866 1,015,323
Creditors: amounts falling due
after more than one year 8 ( 218,779) ( 220,820)
Provisions for liabilities ( 101,076) ( 102,634)
________ ________
Net assets 817,011 691,869
________ ________
Capital and reserves
Called up share capital 2 2
Profit and loss account 817,009 691,867
________ ________
Shareholders funds 817,011 691,869
________ ________
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:
Plant and machinery - 25 % straight line
Motor vehicles - 25 % reducing balance
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
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 May 2023 142,184 981,288 1,123,472
Additions - 121,750 121,750
________ ________ ________
At 30 April 2024 142,184 1,103,038 1,245,222
________ ________ ________
Depreciation
At 1 May 2023 119,574 593,366 712,940
Charge for the year 13,241 114,737 127,978
________ ________ ________
At 30 April 2024 132,815 708,103 840,918
________ ________ ________
Carrying amount
At 30 April 2024 9,369 394,935 404,304
________ ________ ________
At 30 April 2023 22,610 387,922 410,532
________ ________ ________
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
________ ________
1,237,963 995,056
________ ________
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
________ ________
533,098 506,063
________ ________
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
________ ________