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Registration number: 11533778

Evans Brothers (Bulk Haulage) Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Evans Brothers (Bulk Haulage) Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 9

 

Evans Brothers (Bulk Haulage) Ltd

Company Information

Directors

Mr S L Evans

Mr S M Evans

Registered office

9 High Street
Llandybie
Ammanford
SA18 3HX

 

Evans Brothers (Bulk Haulage) Ltd

(Registration number: 11533778)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

719,507

745,579

Current assets

 

Stocks

6

146,872

96,205

Debtors

7

521,462

453,355

Cash at bank and in hand

 

47,364

26,588

 

715,698

576,148

Creditors: Amounts falling due within one year

8

(1,153,468)

(989,481)

Net current liabilities

 

(437,770)

(413,333)

Total assets less current liabilities

 

281,737

332,246

Creditors: Amounts falling due after more than one year

8

(299,855)

(273,294)

Net (liabilities)/assets

 

(18,118)

58,952

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

(18,120)

58,950

Total equity

 

(18,118)

58,952

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Evans Brothers (Bulk Haulage) Ltd

(Registration number: 11533778)
Balance Sheet as at 30 June 2024

Approved and authorised by the Board on 27 March 2025 and signed on its behalf by:
 

.........................................
Mr S L Evans
Director

.........................................
Mr S M Evans
Director

 
     
 

Evans Brothers (Bulk Haulage) Ltd

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

1

General information

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

The address of its registered office is:
9 High Street
Llandybie
Ammanford
SA18 3HX

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.

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.

Tangible 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.

 

Evans Brothers (Bulk Haulage) Ltd

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

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 class

Depreciation method and rate

Motor vehicles

15% straight line

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.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

Evans Brothers (Bulk Haulage) Ltd

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

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.

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

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2023 - 14).

 

Evans Brothers (Bulk Haulage) Ltd

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

4

Loss/profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

171,380

154,508

5

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

1,176,388

1,176,388

Additions

229,400

229,400

Disposals

(138,696)

(138,696)

At 30 June 2024

1,267,092

1,267,092

Depreciation

At 1 July 2023

430,809

430,809

Charge for the year

171,380

171,380

Eliminated on disposal

(54,604)

(54,604)

At 30 June 2024

547,585

547,585

Carrying amount

At 30 June 2024

719,507

719,507

At 30 June 2023

745,579

745,579

6

Stocks

2024
£

2023
£

Raw materials and consumables

58,255

27,645

Work in progress

88,617

68,560

146,872

96,205

 

Evans Brothers (Bulk Haulage) Ltd

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

7

Debtors

2024
£

2023
£

Trade debtors

464,526

452,116

Prepayments

2,644

-

Other debtors

54,292

1,239

521,462

453,355

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

10

386,282

374,030

Trade creditors

 

107,715

78,757

Taxation and social security

 

272,699

219,005

Other related parties

 

383,396

313,866

Outstanding defined contribution pension costs

 

86

688

Other creditors

 

3,290

3,135

 

1,153,468

989,481

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

299,855

273,294

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         
 

Evans Brothers (Bulk Haulage) Ltd

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

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

9,879

20,142

HP and finance lease liabilities

289,976

253,152

299,855

273,294

2024
£

2023
£

Current loans and borrowings

Bank borrowings

10,013

9,766

HP and finance lease liabilities

152,316

186,057

Other borrowings

223,953

178,207

386,282

374,030

11

Related party transactions

As at the balance sheet date, the director was owed £383,396 (2023 : £313,866) from the company. The loan is interest free and repayable on demand.