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REGISTERED NUMBER: 08811894 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

Singhs Haulage Ltd

Singhs Haulage Ltd (Registered number: 08811894)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Singhs Haulage Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr Mandip Singh
Mr Jaswinder Singh Randhawa





REGISTERED OFFICE: 92 Hollyhedge Road
West Bromwich
West Midlands
B71 3AF





REGISTERED NUMBER: 08811894 (England and Wales)






Singhs Haulage Ltd (Registered number: 08811894)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 283,946 334,399

CURRENT ASSETS
Stocks 5 12,400 54,500
Debtors 6 70,356 98,921
Cash at bank 76,065 60,562
158,821 213,983
CREDITORS
Amounts falling due within one year 7 310,943 297,978
NET CURRENT LIABILITIES (152,122 ) (83,995 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

131,824

250,404

CREDITORS
Amounts falling due after more than one year 8 145,366 282,375
NET LIABILITIES (13,542 ) (31,971 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (13,544 ) (31,973 )
SHAREHOLDERS' FUNDS (13,542 ) (31,971 )

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

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

Singhs Haulage Ltd (Registered number: 08811894)

Balance Sheet - continued
31 March 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 28 February 2025 and were signed on its behalf by:





Mr Mandip Singh - Director


Singhs Haulage Ltd (Registered number: 08811894)

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

1. STATUTORY INFORMATION

Singhs Haulage Ltd 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Singhs Haulage Ltd (Registered number: 08811894)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 26 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 609,234 5,471 2,347 617,052
DEPRECIATION
At 1 April 2023 277,768 3,002 1,883 282,653
Charge for year 49,720 617 116 50,453
At 31 March 2024 327,488 3,619 1,999 333,106
NET BOOK VALUE
At 31 March 2024 281,746 1,852 348 283,946
At 31 March 2023 331,466 2,469 464 334,399

5. STOCKS
31.3.24 31.3.23
£    £   
Work-in-progress 12,400 54,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 61,956 83,952
Other debtors 8,400 14,969
70,356 98,921

Singhs Haulage Ltd (Registered number: 08811894)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 3,032 -
Other loans 21,667 31,667
Funding circle 14,857 30,000
IWOCA - 7,287
Trade creditors 12,655 27,488
Social security and other taxes 6,856 5,413
Net wages 9,189 8,604
VAT 63,314 71,019
Directors' current accounts 173,680 111,362
Accrued expenses 5,693 5,138
310,943 297,978

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 145,366 282,375