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REGISTERED NUMBER: 08381980 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

RUTLAND TRANSPORT LIMITED

RUTLAND TRANSPORT LIMITED (REGISTERED NUMBER: 08381980)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RUTLAND TRANSPORT LIMITED

COMPANY INFORMATION
for the year ended 31 May 2024







DIRECTOR: P E Wright





SECRETARY: K H Wright





REGISTERED OFFICE: Unit A
158 Barkby Road
Leicester
Leicestershire
LE4 9LF





REGISTERED NUMBER: 08381980 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Unit 2 Charnwood Edge Business Park
Syston Road, Leicester
LE7 4UZ
Magma Audit LLP is part
Of the Dains Group

RUTLAND TRANSPORT LIMITED (REGISTERED NUMBER: 08381980)

BALANCE SHEET
31 May 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 176,944 177,665

CURRENT ASSETS
Debtors 5 195,757 172,694
Cash at bank 57,623 74,056
253,380 246,750
CREDITORS
Amounts falling due within one year 6 (96,113 ) (90,516 )
NET CURRENT ASSETS 157,267 156,234
TOTAL ASSETS LESS CURRENT
LIABILITIES

334,211

333,899

CREDITORS
Amounts falling due after more than one
year

7

(98,480

)

(95,076

)

PROVISIONS FOR LIABILITIES (31,850 ) (43,629 )
NET ASSETS 203,881 195,194

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 202,881 194,194
203,881 195,194

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 14 February 2025 and were signed by:




P E Wright - Director


RUTLAND TRANSPORT LIMITED (REGISTERED NUMBER: 08381980)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 May 2024


1. STATUTORY INFORMATION

Rutland Transport Limited is a limited company, registered in England and Wales. Its registered office address is Unit A, 158 Barkby Road, Leicester,Leicestershire, England, LE4 9LF and the registered number is 08381980.

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 as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the cost incurred and the costs to complete the contract can be measured reliably

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 10% straight line
Motor vehicles - 15% straight line and 12.5% on cost

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

RUTLAND TRANSPORT LIMITED (REGISTERED NUMBER: 08381980)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024


2. ACCOUNTING POLICIES - continued

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

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement 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.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 June 2023 14,447 263,303 277,750
Additions - 53,306 53,306
Disposals - (18,500 ) (18,500 )
At 31 May 2024 14,447 298,109 312,556
DEPRECIATION
At 1 June 2023 6,023 94,062 100,085
Charge for year 1,439 38,656 40,095
Eliminated on disposal - (4,568 ) (4,568 )
At 31 May 2024 7,462 128,150 135,612
NET BOOK VALUE
At 31 May 2024 6,985 169,959 176,944
At 31 May 2023 8,424 169,241 177,665

RUTLAND TRANSPORT LIMITED (REGISTERED NUMBER: 08381980)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 75,077 76,868
Other debtors 77,318 68,163
Directors' current accounts 9,995 -
Prepayments and accrued income 33,367 27,663
195,757 172,694

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 33,072 31,531
Trade creditors 35,021 27,619
Social security and other taxes 5,014 4,265
VAT 10,439 13,833
Other creditors 792 1,618
Accruals and deferred income 1,775 1,650
96,113 90,516

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 11,667 21,667
Hire purchase contracts 86,813 73,409
98,480 95,076

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 119,885 104,940

Obligations under hire purchase contracts are secured on the assets concerned.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
P E Wright
Balance outstanding at start of year - -
Amounts advanced 9,995 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,995 -