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COMPANY REGISTRATION NUMBER: 05338920
Commercial Drivers Personnel Limited
Unaudited financial statements
31 January 2025
Commercial Drivers Personnel Limited
Statement of financial position
31 January 2025
2025
2024
Note
£
£
£
£
Fixed assets
Tangible assets
5
190,059
238,820
Current assets
Debtors
6
178,099
199,333
Cash at bank and in hand
118,453
170,917
---------
---------
296,552
370,250
Creditors: Amounts falling due within one year
7
( 250,082)
( 269,792)
---------
---------
Net current assets
46,470
100,458
---------
---------
Total assets less current liabilities
236,529
339,278
Creditors: Amounts falling due after more than one year
8
( 73,829)
( 98,218)
Provisions
Taxation including deferred tax
( 36,044)
( 57,210)
---------
---------
Net assets
126,656
183,850
---------
---------
Capital and reserves
Called up share capital
260
260
Capital redemption reserve
40
40
Profit and loss account
126,356
183,550
---------
---------
Shareholders funds
126,656
183,850
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Commercial Drivers Personnel Limited
Statement of financial position (continued)
31 January 2025
These financial statements were approved by the board of directors and authorised for issue on 25 March 2025 , and are signed on behalf of the board by:
M J Hobbs
Director
Company registration number: 05338920
Commercial Drivers Personnel Limited
Notes to the financial statements
Year ended 31 January 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is First Floor Suite, 2 Hillside Business Park, Bury St Edmunds, Suffolk, IP32 7EA. The company's trading address during the year was Unit 3a, Fred Castle Way, Battlies Green, Bury St Edmunds, Suffolk, IP30 9ND.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference. Provision is made, under the liability method, to take account of timing differences between the
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
Over lease term
Plant & machinery
-
25% straight line
Fixtures & fittings
-
33% straight line
Motor vehicles
-
25% reducing balance
Leasehold property is depreciated over the term of the lease.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of employees during the year was 13 (2024: 15 ).
5. Tangible assets
Leasehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 February 2024
16,361
12,595
27,437
483,409
539,802
Additions
388
1,645
33,000
35,033
Disposals
( 16,361)
( 5,500)
( 39,570)
( 61,431)
-------
-------
-------
---------
---------
At 31 January 2025
7,483
29,082
476,839
513,404
-------
-------
-------
---------
---------
Depreciation
At 1 February 2024
16,356
9,688
25,825
249,113
300,982
Charge for the year
385
1,426
57,854
59,665
Disposals
( 16,356)
( 3,209)
( 17,737)
( 37,302)
-------
-------
-------
---------
---------
At 31 January 2025
6,864
27,251
289,230
323,345
-------
-------
-------
---------
---------
Carrying amount
At 31 January 2025
619
1,831
187,609
190,059
-------
-------
-------
---------
---------
At 31 January 2024
5
2,907
1,612
234,296
238,820
-------
-------
-------
---------
---------
6. Debtors
2025
2024
£
£
Trade debtors
102,588
189,104
Other debtors
75,511
10,229
---------
---------
178,099
199,333
---------
---------
7. Creditors: Amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
2,815
2,840
Trade creditors
39,673
74,995
Social security and other taxes
16,084
34,433
Other creditors
191,510
157,524
---------
---------
250,082
269,792
---------
---------
Included within other creditors are hire purchase agreements of £35,607 (2024: £45,113) secured against the assets to which they relate. Included in other creditors is an amount due to Lloyds Bank of £46,703 (2024: £58,014) secured over certain trade debtors.
8. Creditors: Amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
12,730
15,766
Other creditors
61,099
82,452
-------
-------
73,829
98,218
-------
-------
Included within other creditors is a bank loan of £740 (2024: £3,675) subject to interest at a rate of 2.5% due to be repaid after 5 years.
Included within other creditors are hire purchase agreements of £61,099 (2024: £82,453) secured against the assets to which they relate.