Registered number
09490013
Hundal Haulage Limited
Filleted Accounts
31 March 2024
Hundal Haulage Limited
Registered number: 09490013
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 409,242 308,756
409,242 308,756
Current assets
Debtors 4 51,274 54,428
Cash at bank and in hand 198,533 243,869
249,807 298,297
Creditors: amounts falling due within one year 5 (76,408) (85,857)
Net current assets 173,399 212,440
Total assets less current liabilities 582,641 521,196
Creditors: amounts falling due after more than one year 6 (422,412) (347,458)
Net assets 160,229 173,738
Capital and reserves
Called up share capital 100 100
Profit and loss account 160,129 173,638
Shareholders' funds 160,229 173,738
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.
Harinder Singh Hundal
Director
Approved by the board on 21 March 2025
Hundal Haulage Limited
Notes to the Accounts
for the year ended 31 March 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 13 12
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 - 174 787,559 787,733
Additions - - 172,705 172,705
At 31 March 2024 - 174 960,264 960,438
Depreciation
At 1 April 2023 - 102 478,875 478,977
Charge for the year - 11 72,208 72,219
At 31 March 2024 - 113 551,083 551,196
Net book value
At 31 March 2024 - 61 409,181 409,242
At 31 March 2023 - 72 308,684 308,756
4 Debtors 2024 2023
£ £
Trade debtors 51,274 54,428
51,274 54,428
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 11,750 25,642
Other creditors 64,658 60,215
76,408 85,857
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 30,252 40,126
Obligations under finance lease and hire purchase contracts 204,052 151,431
Trade creditors 188,108 155,901
422,412 347,458
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