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Registration number: NI046546

DAWSON TRANSPORT LTD

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

DAWSON TRANSPORT LTD

Contents

Company Information

1

Director's Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 10

 

DAWSON TRANSPORT LTD

Company Information

Director

Mr Gary Dawson

Company secretary

Mrs Geraldine Dawson

Registered office

104 Carran Road
Crossmaglen
Newry
Co Down
BT35 9AF

Accountants

SP McKeown & Co Ltd
Chartered Certified Accountants, Registered Auditors & Tax Advisors5 Lower Catherine Street
Newry
Co Down
BT35 6BE

 

DAWSON TRANSPORT LTD

Director's Report for the Year Ended 31 May 2024

The director presents his report and the financial statements for the year ended 31 May 2024.

Director of the company

The director who held office during the year was as follows:

Mr Gary Dawson

Principal activity

The principal activity of the company is Haulage

Going concern

The financial statements have been prepared on the going concern basis.

Small companies provision statement

This report has 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.

Approved by the director on 18 February 2025 and signed on its behalf by:

.........................................
Mr Gary Dawson
Director

   
     
 

DAWSON TRANSPORT LTD

(Registration number: NI046546)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

131,024

39,692

Current assets

 

Debtors

5

49,242

39,909

Cash at bank and in hand

 

47,077

39,480

 

96,319

79,389

Creditors: Amounts falling due within one year

6

(56,090)

(39,591)

Net current assets

 

40,229

39,798

Total assets less current liabilities

 

171,253

79,490

Creditors: Amounts falling due after more than one year

6

(43,042)

(6,984)

Provisions for liabilities

(23,459)

(7,541)

Net assets

 

104,752

64,965

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

104,751

64,964

Shareholders' funds

 

104,752

64,965

For the financial year ending 31 May 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 year in question in accordance with section 476; and

The director acknowledges his 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 and 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 and Director's Report.

Approved and authorised by the director on 18 February 2025
 

.........................................
Mr Gary Dawson
Director

   
     
 

DAWSON TRANSPORT LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
104 Carran Road
Crossmaglen
Newry
Co Down
BT35 9AF

These financial statements were authorised for issue by the director on 18 February 2025.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

DAWSON TRANSPORT LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Tax

The tax expense for the period comprises 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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

Plant and machinery

20% Reducing Balance Basis

Fixtures and fittings

20% Reducing Balance Basis

Office equipment

12.5% Reducing Balance Basis

Motor vehicles

20% Reducing Balance Basis

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 merchandise sold 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.

 

DAWSON TRANSPORT LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 2).

 

DAWSON TRANSPORT LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 June 2023

7,510

17,350

88,510

113,370

Additions

-

-

146,850

146,850

Disposals

-

-

(87,240)

(87,240)

At 31 May 2024

7,510

17,350

148,120

172,980

Depreciation

At 1 June 2023

4,638

3,470

65,570

73,678

Charge for the year

488

2,776

29,384

32,648

Eliminated on disposal

-

-

(64,370)

(64,370)

At 31 May 2024

5,126

6,246

30,584

41,956

Carrying amount

At 31 May 2024

2,384

11,104

117,536

131,024

At 31 May 2023

2,872

13,880

22,940

39,692

5

Debtors

Current

2024
£

2023
£

Trade debtors

45,877

39,909

Other debtors

3,365

-

 

49,242

39,909

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

21,726

4,909

Trade creditors

 

11,898

17,321

Taxation and social security

 

6,981

11,343

Accruals and deferred income

 

1,350

1,350

Other creditors

 

14,135

4,668

 

56,090

39,591

 

DAWSON TRANSPORT LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

43,042

6,984

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Share of £1 each

1

1

1

1

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

43,042

6,984

Current loans and borrowings

2024
£

2023
£

Bank borrowings

21,726

4,909

9

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £10,000.00 (2023 - £80,000.00) per each Ordinary Share

10,000

80,000

 

 

10

Related party transactions

 

DAWSON TRANSPORT LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Transactions with the director

2024

At 1 June 2023
£

Advances to director
£

Repayments by director
£

At 31 May 2024
£

Mr Gary Dawson

Directors Loan repayable on demand

4,669

(30,627)

40,095

14,136

2023

At 1 June 2022
£

Advances to director
£

Repayments by director
£

At 31 May 2023
£

Mr Gary Dawson

Directors Loan repayable on demand

4,148

(133,387)

133,908

4,669

 

DAWSON TRANSPORT LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

13,780

10,425

In respect of the highest paid director:

2024
£

2023
£

Remuneration

13,780

10,425

Dividends paid to the director

2024
£

2023
£

Mr Gary Dawson

Dividends paid

10,000

80,000