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EAST COAST TRANSPORT LTD

Registered Number
NI624203
(Northern Ireland)

Unaudited Financial Statements for the Year ended
30 June 2024

EAST COAST TRANSPORT LTD
Company Information
for the year from 1 July 2023 to 30 June 2024

Director

CONNOLLY, Patrick

Registered Address

72 Rathfriland Road
Newry
BT34 1LE

Registered Number

NI624203 (Northern Ireland)
EAST COAST TRANSPORT LTD
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4676,297630,675
676,297630,675
Current assets
Debtors40,33886,531
Cash at bank and on hand601,495355,962
641,833442,493
Creditors amounts falling due within one year5(451,611)(397,592)
Net current assets (liabilities)190,22244,901
Total assets less current liabilities866,519675,576
Creditors amounts falling due after one year(219,870)(253,860)
Provisions for liabilities(102,805)(110,058)
Net assets543,844311,658
Capital and reserves
Called up share capital100100
Revaluation reserve6,6408,622
Profit and loss account537,104302,936
Shareholders' funds543,844311,658
The financial statements were approved and authorised for issue by the Director on 24 March 2025, and are signed on its behalf by:
CONNOLLY, Patrick
Director
Registered Company No. NI624203
EAST COAST TRANSPORT LTD
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20242023
Average number of employees during the year1413
3.Intangible assets

Total

£
Cost or valuation
At 01 July 2380,000
At 30 June 2480,000
Amortisation and impairment
At 01 July 2380,000
At 30 June 2480,000
Net book value
At 30 June 24-
At 30 June 23-
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 July 23867,527
Additions212,967
Disposals(42,150)
At 30 June 241,038,344
Depreciation and impairment
At 01 July 23236,852
Charge for year142,665
On disposals(17,470)
At 30 June 24362,048
Net book value
At 30 June 24676,297
At 30 June 23630,675
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables246,732140,793
Bank borrowings and overdrafts20,81429,947
Taxation and social security12,43515,392
Finance lease and HP contracts64,440149,640
Other creditors8,29756,682
Accrued liabilities and deferred income98,8935,138
Total451,611397,592
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts219,870253,860