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REGISTERED NUMBER: 08601353 (England and Wales)










Ian Robinson Transport Limited

Unaudited Financial Statements

for the Year Ended 30 April 2024






Ian Robinson Transport Limited (Registered number: 08601353)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ian Robinson Transport Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: Mr Ian Robinson





SECRETARY: Miss Laura Marie Ashworth





REGISTERED OFFICE: Station House Station Road
Whalley
Clitheroe
Lancashire
BB7 9RT





REGISTERED NUMBER: 08601353 (England and Wales)






Ian Robinson Transport Limited (Registered number: 08601353)

Balance Sheet
30 April 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 873,811 999,290

CURRENT ASSETS
Debtors 5 1,256,665 1,098,137

CREDITORS
Amounts falling due within one year 6 (1,767,420 ) (1,295,305 )
NET CURRENT LIABILITIES (510,755 ) (197,168 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

363,056

802,122

CREDITORS
Amounts falling due after more than one
year

7

(543,462

)

(473,989

)
NET (LIABILITIES)/ASSETS (180,406 ) 328,133

CAPITAL AND RESERVES
Called up share capital 100 1
Retained earnings (180,506 ) 328,132
(180,406 ) 328,133

Ian Robinson Transport Limited (Registered number: 08601353)

Balance Sheet - continued
30 April 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account and Statement of Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 March 2025 and were signed by:





Mr Ian Robinson - Director


Ian Robinson Transport Limited (Registered number: 08601353)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Station House Station Road
Whalley
Clitheroe
Lancashire
BB7 9RT
United Kingdom

2. ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES
The principal accounting policies applied in the preparation of these financial statements are set out below.These policies have been consistently applied to all the years presented, unless otherwise stated.

STATEMENT OF COMPLIANCE
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

BASIS OF PREPARATION
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

GOING CONCERN
The financial statements have been prepared on a going concern basis.

REVENUE RECOGNITION
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax,returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Ian Robinson Transport Limited (Registered number: 08601353)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

TANGIBLE FIXED ASSETS
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

DEPRECIATION
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset classDepreciation method and rate
Plant and machinery20% Straight line
Fixtures and fittings20% Straight line
Motor vehicles20% Straight line & 25% Reducing balance
Office equipment20% Straight line

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account and Statement of Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Ian Robinson Transport Limited (Registered number: 08601353)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

TRADE DEBTORS
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

TRADE CREDITORS
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

BORROWINGS
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

LEASES
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Ian Robinson Transport Limited (Registered number: 08601353)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

SHARE CAPITAL
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

DIVIDENDS
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

DEFINED CONTRIBUTION PENSION OBLIGATION
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 28 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to rented Plant and and
premisis machinery fittings
£    £    £   
COST
At 1 May 2023 62,317 82,134 13,349
Additions 12,402 - -
Disposals - - -
At 30 April 2024 74,719 82,134 13,349
DEPRECIATION
At 1 May 2023 - 68,950 6,460
Charge for year - 4,500 2,629
Eliminated on disposal - - -
At 30 April 2024 - 73,450 9,089
NET BOOK VALUE
At 30 April 2024 74,719 8,684 4,260
At 30 April 2023 62,317 13,184 6,889

Ian Robinson Transport Limited (Registered number: 08601353)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 1,772,754 19,560 1,950,114
Additions 137,166 22,251 171,819
Disposals (9,000 ) - (9,000 )
At 30 April 2024 1,900,920 41,811 2,112,933
DEPRECIATION
At 1 May 2023 873,245 2,169 950,824
Charge for year 277,169 7,000 291,298
Eliminated on disposal (3,000 ) - (3,000 )
At 30 April 2024 1,147,414 9,169 1,239,122
NET BOOK VALUE
At 30 April 2024 753,506 32,642 873,811
At 30 April 2023 899,509 17,391 999,290

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 715,809 714,444
Amounts owed by participating interests 357,006 355,163
Directors' current accounts 138,701 9,717
Prepayments 45,149 18,813
1,256,665 1,098,137

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Loans and borrowings (see note 8) 755,320 563,817
Hire purchase contracts 219,501 214,595
Trade creditors 580,430 390,449
PAYE and NIC creditor 100,464 54,307
VAT 103,204 65,432
Other creditors 5,000 -
Outstanding defined contribution pension
costs

321

1,300
Accrued expenses 3,180 5,405
1,767,420 1,295,305

Ian Robinson Transport Limited (Registered number: 08601353)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Loans and borrowings (see note 8) 280,979 17,347
Hire purchase contracts 262,483 456,642
543,462 473,989

8. LOANS AND BORROWINGS

An analysis of the maturity of loans and borrowings is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 532,136 545,817
Bank borrowings 223,184 18,000
755,320 563,817

Amounts falling due between one and two years:
Bank borrowings 280,979 17,347