Registered number
11675190
Rathmell Transport Limited
Filleted Accounts
30 November 2024
Rathmell Transport Limited
Registered number: 11675190
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 223,768 134,305
Current assets
Debtors 4 91,759 156,151
Cash at bank and in hand 102,618 57,715
194,377 213,866
Creditors: amounts falling due within one year 5 (32,618) (48,413)
Net current assets 161,759 165,453
Total assets less current liabilities 385,527 299,758
Creditors: amounts falling due after more than one year 6 (290,665) (162,224)
Net assets 94,862 137,534
Capital and reserves
Called up share capital 100 100
Profit and loss account 94,762 137,434
Shareholders' funds 94,862 137,534
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T Rathmell
Director
Approved by the board on 7 February 2025
Rathmell Transport Limited
Notes to the Accounts
for the year ended 30 November 2024
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2023 178,853
Additions 160,000
Disposals (22,995)
At 30 November 2024 315,858
Depreciation
At 1 December 2023 44,548
Charge for the year 55,942
On disposals (8,400)
At 30 November 2024 92,090
Net book value
At 30 November 2024 223,768
At 30 November 2023 134,305
4 Debtors 2024 2023
£ £
Trade debtors 33,966 128,916
Other debtors 57,793 27,235
91,759 156,151
5 Creditors: amounts falling due within one year 2024 2023
£ £
Directors current account 16,299 15,801
Taxation and social security costs 16,319 32,612
32,618 48,413
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 21,654 31,667
Obligations under finance lease and hire purchase contracts 269,011 130,557
290,665 162,224
7 Other information
Rathmell Transport Limited is a private company limited by shares and incorporated in England. Its registered office is:
Upper Bents Farm Cottage
Bents Lane
Wilsden
Bradford
BD15 0BN
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