Company Registration No. 10170636 (England and Wales)
SDC Haulage Limited
Unaudited accounts
for the year ended 31 May 2024
SDC Haulage Limited
Unaudited accounts
Contents
SDC Haulage Limited
Company Information
for the year ended 31 May 2024
Directors
Mr D Fedoruk
Mrs M Fedoruk
Company Number
10170636 (England and Wales)
Registered Office
SDC Haulage Limited
1 Emily Street
Hull
North Humberside
HU9 1ND
England
Accountants
Westlands Chartered Accountants
McMillan House
6 Wolfreton Drive
Anlaby
East Riding of Yorkshire
HU10 7BY
SDC Haulage Limited
Statement of financial position
as at 31 May 2024
Tangible assets
955,840
701,420
Debtors
1,284,751
1,253,676
Cash at bank and in hand
917
4,380
Creditors: amounts falling due within one year
(1,401,183)
(1,335,582)
Net current liabilities
(115,515)
(77,526)
Total assets less current liabilities
840,325
623,894
Creditors: amounts falling due after more than one year
(250,857)
(132,208)
Provisions for liabilities
Deferred tax
(181,614)
(113,508)
Net assets
407,854
378,178
Called up share capital
100
100
Profit and loss account
407,754
378,078
Shareholders' funds
407,854
378,178
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 May 2024 and were signed on its behalf by
Mr D Fedoruk
Director
Company Registration No. 10170636
SDC Haulage Limited
Notes to the Accounts
for the year ended 31 May 2024
SDC Haulage Limited is a private company, limited by shares, registered in England and Wales, registration number 10170636. The registered office is SDC Haulage Limited, 1 Emily Street, Hull, North Humberside, HU9 1ND, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
10% reducing balance
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
SDC Haulage Limited
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Motor vehicles
Charge for the year
83,325
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
537,681
366,025
Amounts falling due within one year
Trade debtors
1,193,802
1,231,082
Other debtors
90,949
22,594
6
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
155,584
155,160
Trade creditors
1,070,377
1,013,481
Loans from directors
118,618
86,899
Included in creditors due within one year are liabilities of £155,584 (2023: £155,160), which security has been given.
SDC Haulage Limited
Notes to the Accounts
for the year ended 31 May 2024
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
231,768
102,453
Included in creditors due after one year are liabilities of £231,768 (2023: £102,453), which security has been given.
8
Transactions with related parties
At the balance sheet date the company owed Mr D Fedoruk £118,618, by the way of an interest free loan. The loan is repayable upon demand.
9
Average number of employees
During the year the average number of employees was 6 (2023: 4).