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REGISTERED NUMBER: 04731169 (England and Wales)















Financial Statements for the Year Ended 31 May 2024

for

Wevell Haulage Limited

Wevell Haulage Limited (Registered number: 04731169)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wevell Haulage Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: M E G Wevell
Mrs C J Wevell





SECRETARY: Mrs C J Wevell





REGISTERED OFFICE: Higher Trenode Farm
Widegates
Looe
Cornwall
PL13 1QA





REGISTERED NUMBER: 04731169 (England and Wales)





ACCOUNTANTS: Sovereign Accounting Solutions
Chartered Accountants and Business Advisers
Unit 9
Moorland Road Industrial Park
Moorland Road, Indian Queens
St Columb
Cornwall
TR9 6FB

Wevell Haulage Limited (Registered number: 04731169)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 31,404 16,031
31,404 16,031

CURRENT ASSETS
Stocks 1,500 -
Debtors 6 34,674 50,390
Cash at bank 21,078 10,895
57,252 61,285
CREDITORS
Amounts falling due within one year 7 49,165 59,884
NET CURRENT ASSETS 8,087 1,401
TOTAL ASSETS LESS CURRENT
LIABILITIES

39,491

17,432

CREDITORS
Amounts falling due after more than one
year

8

(21,633

)

(14,009

)

PROVISIONS FOR LIABILITIES (5,967 ) (3,046 )
NET ASSETS 11,891 377

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 11,791 277
SHAREHOLDERS' FUNDS 11,891 377

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 directors acknowledge their 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.

Wevell Haulage Limited (Registered number: 04731169)

Balance Sheet - continued
31 May 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 January 2025 and were signed on its behalf by:





Mrs C J Wevell - Director


Wevell Haulage Limited (Registered number: 04731169)

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

1. STATUTORY INFORMATION

Wevell Haulage Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 20% on reducing balance and 10% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Wevell Haulage Limited (Registered number: 04731169)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 8,400
AMORTISATION
At 1 June 2023
and 31 May 2024 8,400
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 39,947
Additions 22,500
At 31 May 2024 62,447
DEPRECIATION
At 1 June 2023 23,916
Charge for year 7,127
At 31 May 2024 31,043
NET BOOK VALUE
At 31 May 2024 31,404
At 31 May 2023 16,031

Wevell Haulage Limited (Registered number: 04731169)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 22,500
At 31 May 2024 22,500
DEPRECIATION
Charge for year 4,500
At 31 May 2024 4,500
NET BOOK VALUE
At 31 May 2024 18,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 17,853 12,618
Other debtors 16,821 37,772
34,674 50,390

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 7,000 7,000
Hire purchase contracts 3,900 -
Trade creditors 28,421 44,973
Taxation and social security 7,873 6,311
Other creditors 1,971 1,600
49,165 59,884

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 7,008 14,009
Hire purchase contracts 14,625 -
21,633 14,009

Wevell Haulage Limited (Registered number: 04731169)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 14,008 21,009
Hire purchase contracts 18,525 -
32,533 21,009