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REGISTERED NUMBER: SC086194 (Scotland)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

ANNANDALE TRANSPORT CO LIMITED

ANNANDALE TRANSPORT CO LIMITED (REGISTERED NUMBER: SC086194)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2024




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


ANNANDALE TRANSPORT CO LIMITED (REGISTERED NUMBER: SC086194)

ABRIDGED BALANCE SHEET
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,250,614 6,762,672

CURRENT ASSETS
Stocks 225,098 38,020
Debtors 1,429,533 1,586,962
Cash at bank 141,401 217,424
1,796,032 1,842,406
CREDITORS
Amounts falling due within one year 2,326,307 1,974,033
NET CURRENT LIABILITIES (530,275 ) (131,627 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,720,339

6,631,045

CREDITORS
Amounts falling due after more than one
year

(1,184,947

)

(583,663

)

PROVISIONS FOR LIABILITIES (1,244,807 ) (844,883 )
NET ASSETS 5,290,585 5,202,499

CAPITAL AND RESERVES
Called up share capital 20,502 20,502
Retained earnings 5,270,083 5,181,997
SHAREHOLDERS' FUNDS 5,290,585 5,202,499

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 October 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

ANNANDALE TRANSPORT CO LIMITED (REGISTERED NUMBER: SC086194)

ABRIDGED BALANCE SHEET - continued
31 October 2024



The financial statements were approved by the director and authorised for issue on 25 February 2025 and were signed by:





D J Hyslop - Director


ANNANDALE TRANSPORT CO LIMITED (REGISTERED NUMBER: SC086194)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Annandale Transport Co Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC086194

Registered office: Station Yard
Beattock
Dumfries & Galloway
DG10 9QU

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 and revenue recognition
Turnover represents net invoiced sales of goods and services, excluding VAT. Revenue is recognised when goods and services are provided to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised in the current year.

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.
Freehold property - not provided
Improvements to property - not provided
Plant and machinery - 15% on reducing balance
Motor vehicles - 15% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


ANNANDALE TRANSPORT CO LIMITED (REGISTERED NUMBER: SC086194)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Rentals paid 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2023 - 36 ) .

ANNANDALE TRANSPORT CO LIMITED (REGISTERED NUMBER: SC086194)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2023 11,118,872
Additions 3,010,650
Disposals (1,037,598 )
Transfer to ownership (373,318 )
At 31 October 2024 12,718,606
DEPRECIATION
At 1 November 2023 4,356,200
Charge for year 988,938
Eliminated on disposal (503,828 )
Transfer to ownership (373,318 )
At 31 October 2024 4,467,992
NET BOOK VALUE
At 31 October 2024 8,250,614
At 31 October 2023 6,762,672

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

Totals
£   
COST
At 1 November 2023 4,243,038
Additions 1,489,490
Disposals (113,621 )
Transfer to ownership (373,318 )
Reclassification/transfer 239,519
At 31 October 2024 5,485,108
DEPRECIATION
At 1 November 2023 1,579,336
Charge for year 521,509
Eliminated on disposal (12,782 )
Transfer to ownership (373,318 )
At 31 October 2024 1,714,745
NET BOOK VALUE
At 31 October 2024 3,770,363
At 31 October 2023 2,663,702

ANNANDALE TRANSPORT CO LIMITED (REGISTERED NUMBER: SC086194)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

5. SECURED DEBTS

The following secured debts are included within creditors:

31.10.24 31.10.23
£    £   
Hire purchase contracts 2,187,295 1,717,807
Loans 499,330 -
2,686,625 1,717,807

6. RELATED PARTY DISCLOSURES

Within "Other Debtors" is a loan of £446,102 (2023: £438,486) which are due to be repaid from companies owned by the director. These loans are interest free.

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D J Hyslop.