Registered number
09376853
PPL Transport Ltd
Filleted Accounts
30 April 2024
PPL Transport Ltd
Registered number: 09376853
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 250,050 111,889
Current assets
Debtors 4 306,297 246,416
Cash at bank and in hand 60,694 70,189
366,991 316,605
Creditors: amounts falling due within one year 5 (359,951) (270,721)
Net current assets 7,040 45,884
Total assets less current liabilities 257,090 157,773
Creditors: amounts falling due after more than one year 6 (11,600) (23,138)
Net assets 245,490 134,635
Capital and reserves
Called up share capital 100 100
Profit and loss account 245,390 134,535
Shareholders' funds 245,490 134,635
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J Singh
Director
Approved by the board on 14 April 2025
PPL Transport Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 10% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 40 42
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 May 2023 149,001
Additions 183,790
Disposals (19,000)
At 30 April 2024 313,791
Depreciation
At 1 May 2023 37,112
Charge for the year 31,379
On disposals (4,750)
At 30 April 2024 63,741
Net book value
At 30 April 2024 250,050
At 30 April 2023 111,889
4 Debtors 2024 2023
£ £
Trade debtors 301,297 241,416
Other debtors 5,000 5,000
306,297 246,416
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Obligations under finance lease and hire purchase contracts 1,841 11,050
Trade creditors 173,532 154,200
Taxation and social security costs 121,061 77,098
Other creditors 53,517 18,373
359,951 270,721
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 11,600 21,296
Obligations under finance lease and hire purchase contracts - 1,842
11,600 23,138
7 Other information
PPL Transport Ltd is a private company limited by shares and incorporated in England. Its registered office is:
8 Shaw Park Business Village
Shaw Road
Wolverhampton
WV10 9LE
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