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REGISTERED NUMBER: SC030188 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

HAYTON COULTHARD FREIGHT FORWARDING
LIMITED

HAYTON COULTHARD FREIGHT FORWARDING
LIMITED (REGISTERED NUMBER: SC030188)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HAYTON COULTHARD FREIGHT FORWARDING
LIMITED

COMPANY INFORMATION
for the year ended 31 July 2024







DIRECTORS: M J Coulthard
D J Coulthard





SECRETARY: M J Coulthard





REGISTERED OFFICE: The Garage, Twynholm
By Castle Douglas
Dumfries & Galloway
DG6 4NX





REGISTERED NUMBER: SC030188 (Scotland)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Q Court
3 Quality Street
Edinburgh
EH4 5BP

HAYTON COULTHARD FREIGHT FORWARDING
LIMITED (REGISTERED NUMBER: SC030188)

BALANCE SHEET
31 July 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 568,442 529,515
Investments 5 500,239 500,239
1,068,681 1,029,754

CURRENT ASSETS
Debtors 6 35,706 27,653
Cash at bank 165,010 331,910
200,716 359,563
CREDITORS
Amounts falling due within one year 7 66,266 87,784
NET CURRENT ASSETS 134,450 271,779
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,203,131

1,301,533

CREDITORS
Amounts falling due after more than one
year

8

-

9,624
NET ASSETS 1,203,131 1,291,909

CAPITAL AND RESERVES
Called up share capital 9 17,249 17,249
Retained earnings 1,185,882 1,274,660
SHAREHOLDERS' FUNDS 1,203,131 1,291,909

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

HAYTON COULTHARD FREIGHT FORWARDING
LIMITED (REGISTERED NUMBER: SC030188)

BALANCE SHEET - continued
31 July 2024


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 14 April 2025 and were signed on its behalf by:





D J Coulthard - Director


HAYTON COULTHARD FREIGHT FORWARDING
LIMITED (REGISTERED NUMBER: SC030188)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 July 2024

1. STATUTORY INFORMATION

Hayton Coulthard Freight Forwarding Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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, relating to haulage services provided, 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 the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Heritable property - 2% per annum on cost
Improvements to property - 2% per annum on cost
Plant and machinery - 25% per annum reducing balance
Motor vehicles - 25% per annum reducing balance

The carrying value of tangible fixed assets are reviewed for impairment on an annual basis.

INVESTMENTS IN ASSOCIATES
Investments in associate undertakings are recognised at cost.

The carrying values of investments in associates are reviewed for impairment on an annual basis.

HAYTON COULTHARD FREIGHT FORWARDING
LIMITED (REGISTERED NUMBER: SC030188)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2024

2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

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.

HAYTON COULTHARD FREIGHT FORWARDING
LIMITED (REGISTERED NUMBER: SC030188)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2024

2. ACCOUNTING POLICIES - continued

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 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Heritable to Plant and
property property machinery
£    £    £   
COST
At 1 August 2023 329,906 22,986 250,324
Additions - - -
Disposals - - (63,478 )
At 31 July 2024 329,906 22,986 186,846
DEPRECIATION
At 1 August 2023 - 5,151 115,942
Charge for year - 459 23,311
Eliminated on disposal - - (22,340 )
At 31 July 2024 - 5,610 116,913
NET BOOK VALUE
At 31 July 2024 329,906 17,376 69,933
At 31 July 2023 329,906 17,835 134,382

HAYTON COULTHARD FREIGHT FORWARDING
LIMITED (REGISTERED NUMBER: SC030188)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 August 2023 65,945 - 669,161
Additions 173,456 1,058 174,514
Disposals (65,945 ) - (129,423 )
At 31 July 2024 173,456 1,058 714,252
DEPRECIATION
At 1 August 2023 18,553 - 139,646
Charge for year 23,045 242 47,057
Eliminated on disposal (18,553 ) - (40,893 )
At 31 July 2024 23,045 242 145,810
NET BOOK VALUE
At 31 July 2024 150,411 816 568,442
At 31 July 2023 47,392 - 529,515

Heritable property has not been depreciated as the directors believe that the residual value exceeds historic cost.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 August 2023 65,945
Transfer to ownership (65,945 )
At 31 July 2024 -
DEPRECIATION
At 1 August 2023 18,553
Transfer to ownership (18,553 )
At 31 July 2024 -
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 47,392

HAYTON COULTHARD FREIGHT FORWARDING
LIMITED (REGISTERED NUMBER: SC030188)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2024

5. FIXED ASSET INVESTMENTS

2024 2023
£    £   
Participating interests 500,000 500,000
Other investments not loans 239 239
500,239 500,239

Additional information is as follows:
Interest
in
associate
£   
COST
At 1 August 2023
and 31 July 2024 500,000
NET BOOK VALUE
At 31 July 2024 500,000
At 31 July 2023 500,000

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Other investments 239 239

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,142 17,156
Other debtors 26,564 10,497
35,706 27,653

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 10,499
Trade creditors 11,197 13,631
Taxation and social security - 351
Other creditors 55,069 63,303
66,266 87,784

HAYTON COULTHARD FREIGHT FORWARDING
LIMITED (REGISTERED NUMBER: SC030188)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts - 9,624

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
13,660 Ordinary £1 13,660 17,249
1,000 Ordinary A £1 1,000 -
863 Ordinary B £1 863 -
863 Ordinary C £1 863 -
863 Ordinary D £1 863 -
17,249 17,249

During the year, there was a share restructure which resulted in Ordinary shares being split into Ordinary A, Ordinary B, Ordinary C and Ordinary D shares.

Ordinary A, B, C and D shares rank parri passu in terms of equal voting rights, rights to a varying dividend as a class of share, equal rights to capital distributions and no redemption rights.

10. RELATED PARTY DISCLOSURES

During the year, the company received income totalling £39,707 (2023 - £31,377) from an associated company. During the year, dividends totalling £261,729 (2023 - £360,008) were also received from the same associated company.

Included within 'Other creditors' is an amount of £51,284 (2023 - £58,828) due from the company to the directors. This loan is interest free and repayable on demand.