REGISTERED NUMBER: 04114725 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Matt. Lorne Transport Limited

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

Directors:

Mr M E Lorne

Ms A A Wight

Registered office:

The Old Hall North Road

Lund

Driffield

East Yorkshire

YO25 9TF

Registered number:

04114725 (England and Wales)

Accountants:

Ullyott Limited

6 George Street

Driffield

East Yorkshire

YO25 6RA

FIXED ASSETS

Tangible assets

4

552,781

514,765

CURRENT ASSETS

Debtors

5

157,910

143,119

Cash at bank

44,149

47,566

202,059

190,685

CREDITORS

Amounts falling due within one year

6

180,534

187,196

NET CURRENT ASSETS

21,525

3,489

TOTAL ASSETS LESS CURRENT LIABILITIES

574,306

518,254

CREDITORS

Amounts falling due after more than one year

7

(166,394

)

(133,246

)

PROVISIONS FOR LIABILITIES

(138,196

)

(128,692

)

NET ASSETS

269,716

256,316

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

269,714

256,314

SHAREHOLDERS' FUNDS

269,716

256,316

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 April 2025 and were signed on its behalf by:

Ms A A Wight - Director

1.	STATUTORY INFORMATION

Matt. Lorne Transport Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

20% on reducing balance and 15% on reducing balance

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and 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.

HIRE PURCHASE AND LEASING COMMITMENTS

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

192,486

15,558

672,090

2,091

882,225

Additions

52,800

-

183,882

-

236,682

Disposals

(43,874

)

-

(121,000

)

-

(164,874

)

At 31 December 2024

201,412

15,558

734,972

2,091

954,033

DEPRECIATION

At 1 January 2024

101,137

8,231

257,837

255

367,460

Charge for year

24,841

733

83,030

184

108,788

Eliminated on disposal

(23,934

)

-

(51,062

)

-

(74,996

)

At 31 December 2024

102,044

8,964

289,805

439

401,252

NET BOOK VALUE

At 31 December 2024

99,368

6,594

445,167

1,652

552,781

At 31 December 2023

91,349

7,327

414,253

1,836

514,765

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

90,357

656,100

746,457

DEPRECIATION

At 1 January 2024

45,619

252,721

298,340

Charge for year

19,508

80,855

100,363

At 31 December 2024

65,127

333,576

398,703

NET BOOK VALUE

At 31 December 2024

25,230

322,524

347,754

At 31 December 2023

44,738

403,379

448,117

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

154,152

141,306

Prepayments and accrued income

3,758

1,813

157,910

143,119

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts

103,363

105,444

Trade creditors

6,785

5,043

Corporation tax

8,183

12,486

Social security and other taxes

5,600

5,342

VAT

40,631

45,402

Other creditors

992

1,184

Directors' current accounts

3,622

937

Accruals and deferred income

1,358

1,358

180,534

187,196

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

4,167

10,000

Bank loans - 2-5 years

-

4,167

Hire purchase contracts

162,227

119,079

166,394

133,246

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

2

Ordinary

£1

2

2