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Registration number: 09122920

SPM Haulage Ltd

Unaudited Financial Statements

for the Year Ended 31 July 2024

 

SPM Haulage Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

SPM Haulage Ltd

(Registration number: 09122920)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

10,095

12,054

Current assets

 

Debtors

5

8,243

4,787

Cash at bank and in hand

 

508

2,207

 

8,751

6,994

Creditors: Amounts falling due within one year

6

(12,998)

(10,480)

Net current liabilities

 

(4,247)

(3,486)

Total assets less current liabilities

 

5,848

8,568

Creditors: Amounts falling due after more than one year

6

(3,903)

(6,050)

Provisions for liabilities

(1,918)

(2,290)

Net assets

 

27

228

Capital and reserves

 

Called up share capital

1

1

Retained earnings

26

227

Shareholders' funds

 

27

228

For the financial year ending 31 July 2024 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 5 April 2025
 

.........................................
Mr S Muzyka
Director

 

SPM Haulage Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 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:
35 Camillus Road
Newcastle-Under-Lyme
Staffordshire
ST5 6EA
UK

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. These financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

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, 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.

 

SPM Haulage Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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.

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

Plant and machinery

25% reducing balance

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

SPM Haulage Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2023

-

13,776

13,776

Additions

1,406

-

1,406

At 31 July 2024

1,406

13,776

15,182

Depreciation

At 1 August 2023

-

1,722

1,722

Charge for the year

351

3,014

3,365

At 31 July 2024

351

4,736

5,087

Carrying amount

At 31 July 2024

1,055

9,040

10,095

At 31 July 2023

-

12,054

12,054

5

Debtors

Current

2024
£

2023
£

Trade debtors

1,200

962

Other debtors

7,043

3,825

 

8,243

4,787

 

SPM Haulage Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7,841

6,042

Other creditors

 

5,157

4,438

 

12,998

10,480

Current loans and borrowings

2024
£

2023
£

HP and finance lease liabilities

2,342

2,342

Other borrowings

5,499

3,700

7,841

6,042

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

3,903

6,050