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Registration number: 01941795

Stalkers Transport Services Ltd

Unaudited Financial Statements

30 September 2024

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Stalkers Transport Services Ltd

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Stalkers Transport Services Ltd
for the Year Ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Stalkers Transport Services Ltd for the year ended 30 September 2024 as set out on pages 2 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Stalkers Transport Services Ltd, as a body, in accordance with the terms of our engagement letter dated 18 October 2023. Our work has been undertaken solely to prepare for your approval the accounts of Stalkers Transport Services Ltd and state those matters that we have agreed to state to the Board of Directors of Stalkers Transport Services Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Stalkers Transport Services Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Stalkers Transport Services Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Stalkers Transport Services Ltd. You consider that Stalkers Transport Services Ltd 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 accounts of Stalkers Transport Services Ltd. 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 accounts.



Dodd & Co Limited
Chartered Accountants
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW

6 February 2025

 

Stalkers Transport Services Ltd

(Registration number: 01941795)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

1,721,263

2,224,730

Investments

6

-

2

 

1,721,263

2,224,732

Current assets

 

Stocks

9,211

25,235

Debtors

7

1,954,230

1,962,135

Cash and cash equivalents

 

84,514

72,661

 

2,047,955

2,060,031

Creditors: Amounts falling due within one year

8

(2,213,891)

(2,367,328)

Net current liabilities

 

(165,936)

(307,297)

Total assets less current liabilities

 

1,555,327

1,917,435

Financed by:

Creditors: Amounts falling due after more than one year

8

124,597

481,588

Provisions for liabilities

323,517

400,942

 

448,114

882,530

Capital and reserves

 

Allotted, called up and fully paid share capital

100

100

Revaluation reserve

315,388

323,363

Profit and loss account

791,725

711,442

Total equity

 

1,107,213

1,034,905

   

1,555,327

1,917,435

 

Stalkers Transport Services Ltd

(Registration number: 01941795)
Balance Sheet as at 30 September 2024 (continued)

For the financial year ending 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:

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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 February 2025 and signed on its behalf by:
 

.........................................

K Stalker

Company secretary and director

 

Stalkers Transport Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Townfoot Industrial Estate
Brampton
Cumbria
CA8 1SW

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The company has net current liabilities at 30 September 2024 and meets its day to day working capital requirements through its invoice discounting facility. In addition the directors have provided financial support by way of short term loans. On the basis of this support, the directors consider it appropriate to prepare the financial statements on the going concern basis.

However, should the company not have the support of its invoice discounting facility, and therefore be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities which might arise, and to reclassify fixed assets and long term liabilities as current assets and current liabilities.

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.

 

Stalkers Transport Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

Government grants

Grants for the purpose of giving immediate financial support with no future related costs to be incurred are recognised in the profit and loss account when the grant proceeds become receivable.

Other grants relating to revenue are recognised in the profit and loss account on a systematic basis over the periods in which the related costs are recognised for which the grant is intended to compensate.

Tax

The tax expense for the period comprises current and 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

Land and buildings

2% & 4% straight line

Plant and equipment

4% & 25% straight line & 25% reducing balance

Motor vehicles

25% straight line, 25% reducing balance or in accordance with the duration of the finance lease

Investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

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.

 

Stalkers Transport Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

Trade debtors

Trade debtors are amounts due from customers for the sale of goods 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 where due after more than one year.

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.

 

Stalkers Transport Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 72 (2023 - 68).

4

Exceptional items

Other operating income includes £142,933 (2023 : £0) in relation to compensation for the over-pricing of vehicle purchases in prior years.

 

Stalkers Transport Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

5

Tangible assets

Land and buildings
£

Plant and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

818,396

343,721

3,254,963

4,417,080

Additions

15,603

14,873

30,920

61,396

Disposals

-

(15,902)

(272,430)

(288,332)

At 30 September 2024

833,999

342,692

3,013,453

4,190,144

Depreciation

At 1 October 2023

131,177

183,300

1,877,873

2,192,350

Charge for the year

17,335

29,964

483,706

531,005

Eliminated on disposal

-

(15,876)

(238,598)

(254,474)

At 30 September 2024

148,512

197,388

2,122,981

2,468,881

Carrying amount

At 30 September 2024

685,487

145,304

890,472

1,721,263

At 30 September 2023

687,219

160,421

1,377,090

2,224,730

6

Investments

2024
£

2023
£

Investments in subsidiaries

-

2

Subsidiaries

£

Cost or valuation

At 1 October 2023

2

Disposals

(2)

At 30 September 2024

-

Provision

Carrying amount

At 30 September 2024

-

At 30 September 2023

2

 

Stalkers Transport Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

7

Debtors

2024
£

2023
£

Trade debtors

1,641,501

1,657,237

Other debtors

312,729

304,898

1,954,230

1,962,135

8

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

1,206,089

1,489,492

Trade creditors

 

474,926

470,443

Taxation and social security

 

293,642

268,224

Corporation tax liability

 

122,612

22,078

Other creditors

 

116,622

117,091

 

2,213,891

2,367,328

Due after one year

 

Loans and borrowings

10

124,597

481,588

9

Reserves

Movements in the revaluation reserve for the current year are as follows:

Revaluation reserve
£

Brought forward

323,363

Transfer realised profit

(7,975)

Carried forward

315,388

Deferred tax has been provided on previous revaluation uplifts of land and buildings.

On the transition date to Financial Reporting Standard 102, 1 October 2015, the company elected to apply the transitional option to take previous revalued land and buildings as deemed cost, with the cost model applied going forward.

 

Stalkers Transport Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

10

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

28,267

26,117

Finance lease liabilities

306,766

496,451

Other borrowings

871,056

966,924

1,206,089

1,489,492

Current loans and borrowings includes the following liabilities, on which security has been given by the company:

2024
£

2023
£

Bank borrowings

28,267

26,117

Finance lease liabilities

306,766

496,451

Other borrowings

871,056

966,924

1,206,089

1,489,492

Bank borrowings are secured by fixed and floating charges and a first legal charge over the company's property.

Finance lease liabilities are secured on the assets to which they relate.

Other borrowings consist of an amount due to an invoice finance provider which is secured on the underlying trade debtors of the company.

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

46,957

75,257

Finance lease liabilities

39,893

346,659

Other borrowings

37,747

59,672

124,597

481,588

 

Stalkers Transport Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

Non-current loans and borrowings includes the following liabilities, on which security has been given by the company:

2024
£

2023
£

Bank borrowings

46,957

75,257

Finance lease liabilities

39,893

346,659

86,850

421,916

Bank borrowings are secured by fixed and floating charges and a first legal charge over the company's property.

Finance lease liabilities are secured on the assets to which they relate.

11

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £1,057,759 (2023 - £842,401). £1,012,359 (2023 - £774,301) and £45,400 (2023 - £68,100) of these commitments relate to vehicle leases and property leases respectively.