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Registered Number: 11588020
England and Wales

 

 

 

T. STACEY TRANSPORT LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 October 2023

End date: 30 September 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3   14,020 
  14,020 
Current assets      
Debtors 4 50,910    27,291 
Cash at bank and in hand (3,581)   33,827 
47,329    61,118 
Creditors: amount falling due within one year 5 (42,882)   (48,607)
Net current assets 4,447    12,511 
 
Total assets less current liabilities 4,447    26,531 
Creditors: amount falling due after more than one year 6 (27,468)   (46,574)
Net assets (23,021)   (20,043)
 

Capital and reserves
     
Called up share capital 7 198    100 
Profit and loss account (23,219)   (20,143)
Shareholders' funds (23,021)   (20,043)
 


For the year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 24 January 2025 and were signed on its behalf by:


-------------------------------
Miss S E Heard
Director
1
General Information
T. Stacey Transport Ltd is a private company, limited by shares, registered in England and Wales, registration number 11588020, registration address 48 Highfield Way, Somerton, TA11 6SQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 5 Years Straight Line
Fixtures and Fittings 5 Years Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 01 October 2023 71,600    293    71,893 
Additions    
Disposals    
At 30 September 2024 71,600    293    71,893 
Depreciation
At 01 October 2023 57,580    293    57,873 
Charge for year 14,020      14,020 
On disposals    
At 30 September 2024 71,600    293    71,893 
Net book values
Closing balance as at 30 September 2024    
Opening balance as at 01 October 2023 14,020      14,020 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 40,910    27,291 
Director: Mr T S Davis 5,000   
Director: Miss S E Heard 5,000   
50,910    27,291 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 560   
Bank Loans & Overdrafts (Secured) 7,931    15,948 
Bank Loans & Overdrafts   3,761 
Corporation Tax 3,036    7,271 
Accrued Expenses 1,000   
Other Creditors 10,833    4,749 
Obligations under HP/Financial Leases 11,659    11,659 
Director: Mr T S Davis   24 
VAT 7,863    5,195 
42,882    48,607 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts (secured) 11,643    19,090 
Obligations Under HP/Financial Leases 15,825    27,484 
27,468    46,574 

7.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
99 Class A shares of £1.00 each 99    99 
99 Class B shares of £1.00 each 99    99 
198    198 

8.

Advances and Credits



Directors' transactions
Advances, due within one year, have been granted by the company to its directors as follows:

Current year (2024)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
Directors' transactions10,000 10,000 
010000000010000
Previous year (2023)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
Directors' transactions
0000000
9.

Negative reserves

At the time the dividends were paid the directors were not aware that there were insufficient profits available for distribution and the directors acknowledge that no further distributions can be made until there are sufficient profits available for that purpose.
10.

Going concern

The directors have reviewed the financial statements in light of the company being in a net liabilities position and there is no reason to believe that the company will have to cease trading within 12 months and therefore continues to adopt a going concern basis of accounting.
2