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Company Registration Number 09705415























SAMETIMETOMORROW LIMITED





FINANCIAL STATEMENTS





 30 SEPTEMBER 2024


























img6402.png

 
SAMETIMETOMORROW LIMITED
 

COMPANY INFORMATION


Directors
Mr R J Lawson 
Miss P Lawson 




Registered number
09705415



Registered office
Gote Mill House
Gote Road

Cockermouth

Cumbria

CA13 0JQ




Independent auditors
Armstrong Watson Audit Limited
Chartered Accountants & Statutory Auditors

James Watson House

Montgomery Way

Rosehill

Carlisle

Cumbria

CA1 2UU





 
SAMETIMETOMORROW LIMITED
 

CONTENTS



Page
Group strategic report
 
1 - 2
Directors' report
 
3 - 4
Directors' responsibilities statement
 
5
Independent auditors' report
 
6 - 9
Consolidated income statement
 
10
Consolidated statement of comprehensive income
 
11
Consolidated balance sheet
 
12
Company balance sheet
 
13
Consolidated statement of changes in equity
 
14
Company statement of changes in equity
 
15
Consolidated statement of cash flows
 
16
Notes to the financial statements
 
17 - 35


 
SAMETIMETOMORROW LIMITED
 

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Introduction
 
The directors present their Strategic Report for the group for the period ended 30 September 2024.

Business review
 
The group has traded profitably in the year. The directors believe that the group will continue to trade profitably and will continue to monitor its operations and take advantage of business opportunities as they arise.
The groups key financial and other performance indicators during the year were as follows: 
ole496f.png

Principal risks and uncertainties
 
The company uses various financial instruments which include cash, trade debtors and trade creditors that arise directly from its operations. The main purpose of these financial instruments is to raise finance for the company's operations.
Management continually monitor the key risks facing the company together with assessing the controls used for managing risks. The directors agree policies for managing the risks arising from the company's financial instruments. These are as follows:
Economic pressure – the company acknowledges the importance of maintaining close relationships with its key customers in order to be able to identify the early signs of potential financial difficulties.
Competitor pressure – the market in which the company operates is considered to be highly competitive, and therefore competitor pressure could result in losing sales to key competitors. The company manages this risk by providing quality service and equipment and maintaining strong relationships with its key customers.
Loss of key personnel – this would present significant operational difficulties for the company. Management seek to ensure that key personnel are appropriately remunerated to ensure that good performance is recognised and also that we are flexible to personal needs where possible.

Development and performance
 
The company continues to take advantage of business opportunities as they arise. The directors are happy that the company has sufficient resources to take advantage of business opportunities as they arise, and that the company is able to adapt to change.
The company has had a successful year and turnover has grown by 14% as a result of securing new contract terms with some large customers, contract wins on new large infrastructure projects and an increase in crane hire activity.

Page 1

 
SAMETIMETOMORROW LIMITED
 

GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024


This report was approved by the board and signed on its behalf.



................................................
Mr R J Lawson
Director

Date: 22 April 2025

Page 2

 
SAMETIMETOMORROW LIMITED
 

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

The directors present their report and the financial statements for the year ended 30 September 2024.

Principal activity

The principal activity of the company and group continued to be that of haulage and plant hire.

Results and dividends

The profit for the year, after taxation, amounted to £1,826,058 (2023 - £322,198).

Ordinary dividends were paid amounting to £163,800 (2023 - £14,582). 

Directors

The directors who served during the year were:

Mr R J Lawson 
Miss P Lawson 

Future developments

The directors are looking to develop and expand the crane hire side of the business but do not expect any significant future developments.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the company and the Group's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company and the Group's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the Group since the year end.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption

Page 3

 
SAMETIMETOMORROW LIMITED
 

 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024


Auditors

The auditorsArmstrong Watson Audit Limitedwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





................................................
Mr R J Lawson
Director

Date: 22 April 2025

Page 4

 
SAMETIMETOMORROW LIMITED
 

DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the Group and of the profit or loss of the Group for that period.

 In preparing these financial statements, the directors are required to:

select suitable accounting policies for the Group's financial statements and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;


prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 5

 
SAMETIMETOMORROW LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SAMETIMETOMORROW LIMITED
 

Opinion


We have audited the financial statements of Sametimetomorrow Limited (the 'parent company') and its subsidiaries (the 'Group') for the year ended 30 September 2024, which comprise the Consolidated income statement, the Consolidated statement of comprehensive income, the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of cash flows, the Consolidated statement of changes in equity, the Company statement of changes in equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Group's and of the parent company's affairs as at 30 September 2024 and of the Group's profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 6

 
SAMETIMETOMORROW LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SAMETIMETOMORROW LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and  our Auditors' Report thereon.  The directors are responsible for the other information contained within the Annual Report.  Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated.  If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves.  If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
 
adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
 
the parent company financial statements are not in agreement with the accounting records and returns; or
 
certain disclosures of directors' remuneration specified by law are not made; or
 
we have not received all the information and explanations we require for our audit.

Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 5, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or the parent company or to cease operations, or have no realistic alternative but to do so.


Page 7

 
SAMETIMETOMORROW LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SAMETIMETOMORROW LIMITED (CONTINUED)


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non compliance with laws and regulations, was as follows:
 
the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the company through discussions with directors and other management;
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non compliance throughout the audit.

We assessed the susceptibility of the Group's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
 
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
considering the internal controls in place to mitigate risks of fraud and non compliance with laws and regulations; and
understanding the design of the company's remuneration policies.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed audit procedures which included, but were not limited to:
 
agreeing financial statement disclosures to underlying supporting documentation;
enquiring of management and those charged with governance as to actual and potential litigation and claims;
enquiring of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations; and
reviewing correspondence.
 
In response to the risk of fraud through management bias and override of controls, we:
 
performed analytical procedures to identify any unusual or unexpected relationships;
tested journal entries to identify unusual transactions;
assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
investigated the rationale behind significant or unusual transactions.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
Page 8

 
SAMETIMETOMORROW LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SAMETIMETOMORROW LIMITED (CONTINUED)




Use of our report
 

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





David Harper (Senior statutory auditor)
Armstrong Watson Audit Limited
Chartered Accountants & Statutory Auditors
Carlisle

23 April 2025
Page 9

 
SAMETIMETOMORROW LIMITED
 

CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024
2023
Note
£
£

  

Turnover
 4 
10,978,761
9,608,781

Cost of sales
  
(8,655,171)
(8,762,382)

Gross profit
  
2,323,590
846,399

Administrative expenses
  
59,575
(584,187)

Other operating income
  
68,838
35,514

Operating profit
 5 
2,452,003
297,726

Interest receivable and similar income
 9 
75,715
29,499

Interest payable and similar expenses
 10 
(89,536)
(90,429)

Profit before tax
  
2,438,182
236,796

Tax on profit
 11 
(612,124)
85,402

Profit for the financial year
  
1,826,058
322,198

The notes on pages 17 to 35 form part of these financial statements.

Page 10

 
SAMETIMETOMORROW LIMITED
 

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024
2023
£
£


Profit for the financial year

1,826,058
322,198

Other comprehensive income

Total comprehensive income for the year
1,826,058
322,198

The notes on pages 17 to 35 form part of these financial statements.

Page 11

 
SAMETIMETOMORROW LIMITED
REGISTERED NUMBER: 09705415

CONSOLIDATED BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 13 
6,560,384
4,719,808

Investment property
 16 
88,297
88,297

  
6,648,681
4,808,105

Current assets
  

Stocks
 17 
75,548
71,401

Debtors: amounts falling due within one year
 18 
3,578,740
3,346,338

Cash at bank and in hand
  
2,903,895
2,517,777

  
6,558,183
5,935,516

Creditors: amounts falling due within one year
 19 
(1,772,956)
(2,179,132)

Net current assets
  
 
 
4,785,227
 
 
3,756,384

Total assets less current liabilities
  
11,433,908
8,564,489

Creditors: amounts falling due after more than one year
 20 
(1,064,123)
(467,086)

Provisions for liabilities
  

Deferred taxation
 23 
(1,534,353)
(922,229)

  
 
 
(1,534,353)
 
 
(922,229)

Net assets
  
8,835,432
7,175,174


Capital and reserves
  

Called up share capital 
 24 
525,000
525,000

Capital redemption reserve
 25 
37,500
37,500

Profit and loss account
 25 
8,272,932
6,612,674

  
8,835,432
7,175,174


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Miss P Lawson
................................................
Mr R J Lawson
Director
Director


Date: 22 April 2025

The notes on pages 17 to 35 form part of these financial statements.

Page 12

 
SAMETIMETOMORROW LIMITED
REGISTERED NUMBER: 09705415

COMPANY BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 14 
262,500
262,500

  
262,500
262,500

Current assets
  

Debtors: amounts falling due within one year
 18 
264,500
264,500

Total assets less current liabilities
  
 
 
527,000
 
 
527,000

  

  

Net assets
  
527,000
527,000


Capital and reserves
  

Called up share capital 
 24 
525,000
525,000

Profit and loss account
 25 
2,000
2,000

  
527,000
527,000


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


................................................
Miss P Lawson
................................................
Mr R J Lawson
Director
Director


Date: 22 April 2025

The notes on pages 17 to 35 form part of these financial statements.

Page 13

 
SAMETIMETOMORROW LIMITED
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£


At 1 October 2022
525,000
37,500
6,307,058
6,869,558



Profit for the year
-
-
322,198
322,198

Dividends: Equity capital
-
-
(16,582)
(16,582)



At 1 October 2023
525,000
37,500
6,612,674
7,175,174



Profit for the year
-
-
1,826,058
1,826,058

Dividends: Equity capital
-
-
(165,800)
(165,800)


At 30 September 2024
525,000
37,500
8,272,932
8,835,432


The notes on pages 17 to 35 form part of these financial statements.

Page 14

 
SAMETIMETOMORROW LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 October 2022
525,000
2,000
527,000



Profit for the year
-
16,582
16,582

Dividends: Equity capital
-
(16,582)
(16,582)



At 1 October 2023
525,000
2,000
527,000



Profit for the year
-
165,800
165,800

Dividends: Equity capital
-
(165,800)
(165,800)


At 30 September 2024
525,000
2,000
527,000


The notes on pages 17 to 35 form part of these financial statements.

Page 15

 
SAMETIMETOMORROW LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
1,826,058
322,198

Adjustments for:

Depreciation of tangible assets
1,154,550
1,133,476

Loss on disposal of tangible assets
(845,658)
3,774

Interest paid
89,536
90,429

Investment income
(75,715)
(29,499)

Taxation charge
612,124
(85,402)

(Increase) in stocks
(4,147)
(1,475)

(Increase)/decrease in debtors
(308,641)
566,834

(Decrease)/increase in creditors
(140,981)
233,831

Corporation tax (paid)/received
(132,598)
6,458

Net cash generated from operating activities

2,174,528
2,240,624


Cash flows from investing activities

Purchase of tangible fixed assets
(1,828,916)
(284,874)

Sale of tangible fixed assets
944,451
90,333

Interest received
75,715
29,499

HP interest paid
(89,455)
(85,906)

Repayment of loans
-
(285,519)

Net cash from investing activities

(898,205)
(536,467)

Cash flows from financing activities

Repayment of finance leases
(724,324)
(817,246)

Dividends paid
(165,800)
(16,582)

Interest paid
(81)
(4,523)

Net cash used in financing activities
(890,205)
(838,351)

Net increase in cash and cash equivalents
386,118
865,806

Cash and cash equivalents at beginning of year
2,517,777
1,651,971

Cash and cash equivalents at the end of year
2,903,895
2,517,777


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
2,903,895
2,517,777

2,903,895
2,517,777


Page 16

 
SAMETIMETOMORROW LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Sametimetomorrow Limited is a private company limited by shares, incorporated in England with company number 09705415. The registered office is Gote Mill House, Gote Road, Cockermouth, Cumbria CA13 0JQ.
The principal activity of the subsidiary company, Lawsons Haulage Limited, was that of haulage and plant hire.
These financial statements have been presented in Pound Sterling as this is the currency of the primary economic environment in which the group operates. Monetary amounts in these financial statements are rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).

The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Income statement in these financial statements.

The following principal accounting policies have been applied:

  
2.2

Business combinations

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment. 
Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

Page 17

 
SAMETIMETOMORROW LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Sametimetomorrow Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.
All financial statements are made up to 30 September 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group. 
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.
Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

 
2.4

Going concern

At the balance sheet date, the group  had £4,785k (2023: £3,756k) net current assets, £8,835k 2023: £7,175k) net assets following a profit of £1,826k (2023: £322k) in the period. The directors review management information and the cash position regularly to ensure that there is sufficient liquid assets to pay liabilities as they fall.
Based on this, the directors deem the going concern basis appropriate.

 
2.5

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 18

 
SAMETIMETOMORROW LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.6

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

  
2.7

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

  
2.8

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

 
2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.11

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 19

 
SAMETIMETOMORROW LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.13

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold land and buildings
-
4% straight line
Plant and equipment
-
10% straight line
Fixtures and fittings
-
10% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 20

 
SAMETIMETOMORROW LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.14

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.15

Fixed asset investments

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.
In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

  
2.16

Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. 
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Page 21

 
SAMETIMETOMORROW LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.17

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

 
2.18

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.19

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

 
2.20

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.21

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.22

Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. 
Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument. 
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
 
Page 22

 
SAMETIMETOMORROW LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.22
Financial instruments (continued)

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
 
Page 23

 
SAMETIMETOMORROW LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.22
Financial instruments (continued)

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
  
2.23

Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

 
2.24

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of these financial statements require management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses.
Judgements and estimates are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
(a) Establishing useful economic lives for depreciation purposes of property, plant and equipment
Long-lived assets, consisting primarily of property, plant and equipment, comprise a significant portion of the total fixed assets. The annual depreciation charge depends primarily on the estimated useful economic lives of each type of asset and estimates of residual values. The directors regularly review these assets useful economic lives and change them as necessary to reflect current thinking on remaining lives in light of prospective economic utilisation and physical condition of the assets concerned. Changes in asset useful lives can have a significant impact on depreciation charges for the period. Details of the depreciation policies based on estimated useful economic lives are included in accounting policies note 2.13.
(b) Providing for doubtful debts
The company makes an estimate of the recoverable value of trade and other debtors. The company uses estimates based on historical experience in determining the level of debts, which the company believes, will not be collected. These estimates include such factors as the credit rating of the debtor, the ageing profile of debtors and historical experience. Any significant change in the level of customers that default on payments or other significant improvements that resulted in a change in the level of bad debt provision would have an impact on the operating results. The level of provision required is reviewed on an on-going basis.

Page 24

 
SAMETIMETOMORROW LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Turnover

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Haulage
7,622,485
6,832,190

Plant hire
3,282,386
2,775,221

Other sales
73,890
1,370

10,978,761
9,608,781


Analysis of turnover by country of destination:

2024
2023
£
£

United Kingdom
10,978,761
9,608,781

10,978,761
9,608,781


2024
2023
£
£

Other revenue


Interest income
75,715
29,499


5.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Exchange losses
-
1,062

Depreciation of owned tangible fixed assets
1,154,550
1,133,476

Loss/(profit) on disposal of tangible fixed assets
(845,658)
3,774

Operating lease charges
3,220
17,197


6.


Auditors' remuneration

During the year, the Group obtained the following services from the company's auditors:


2024
2023
£
£

Audit of the financial statements of the company's subsidiaries
16,000
15,000

Page 25

 
SAMETIMETOMORROW LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


Employees

Staff costs, including directors' remuneration, were as follows:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Wages and salaries
3,305,829
3,423,744
-
-

Social security costs
340,941
335,592
-
-

Cost of defined contribution scheme
79,074
113,285
-
-

3,725,844
3,872,621
-
-


The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Distribution staff
54
53



Administrative staff
11
11



Directors
2
2

67
66


8.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
39,212
23,329

Group contributions to defined contribution pension schemes
836
25,289

40,048
48,618


During the year retirement benefits were accruing to 2 directors (2023 - 1) in respect of defined contribution pension schemes.

Page 26

 
SAMETIMETOMORROW LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9.


Interest receivable and similar income

2024
2023
£
£


Other interest income
12,428
8,211

Interest on bank deposits
63,287
21,288

Total income
75,715
29,499

Investment income includes the following:


2024
2023
£
£



Interest on financial assets not measured at fair value through profit or loss
63,287
21,288


10.


Interest payable and similar expenses

2024
2023
£
£


Interest on bank overdrafts and loans
81
4,523

Finance leases and hire purchase contracts
89,455
85,906

89,536
90,429


11.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
-
103,867

Adjustments in respect of previous periods
-
(130,523)


-
(26,656)


Total current tax
-
(26,656)

Deferred tax


Origination and reversal of timing differences
612,124
(58,746)

Total deferred tax
612,124
(58,746)


Taxation on profit/(loss) on ordinary activities
612,124
(85,402)
Page 27

 
SAMETIMETOMORROW LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
 
11.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is the same as (2023 - lower than) the standard rate of corporation tax in the UK of 25% (2023 - 22%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
2,438,182
236,796


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 22%)
609,546
52,095

Effects of:


Tax effect of expenses that are not deductible in determining taxable profit
4,707
(6,229)

Tax effect of utilisation of tax losses not previously recognised
-
(22,969)

Fixed asset timing differences
-
29,657

Adjustments in respect of prior years
(4,330)
(130,523)

Permanent capital allowances in excess of depreciation
-
(9,787)

Depreciation on assets not qualifying for tax allowances
2,701
2,794

Tax effect of preference share dividend cost
(500)
(440)

Total tax charge for the year
612,124
(85,402)


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


12.


Dividends

Recognised as distributions to equity holders:

2024
2023
£
£


Interim paid
165,800
16,582

165,800
16,582

Page 28

 
SAMETIMETOMORROW LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

13.


Tangible fixed assets

Group






Freehold land and buildings
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 October 2023
359,577
14,079,612
70,518
14,509,707


Additions
210,992
2,882,925
-
3,093,917


Disposals
-
(1,854,860)
-
(1,854,860)



At 30 September 2024

570,569
15,107,677
70,518
15,748,764



Depreciation


At 1 October 2023
217,065
9,514,001
58,833
9,789,899


Charge for the year on owned assets
21,802
1,130,234
2,513
1,154,549


Disposals
-
(1,756,068)
-
(1,756,068)



At 30 September 2024

238,867
8,888,167
61,346
9,188,380



Net book value



At 30 September 2024
331,702
6,219,510
9,172
6,560,384



At 30 September 2023
142,512
4,565,611
11,685
4,719,808

The company had no tangible fixed assets at 30 September 2024 or 30 September 2023.

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant, machinery and motor vehicles
3,692,464
2,148,623

3,692,464
2,148,623

Page 29

 
SAMETIMETOMORROW LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

14.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost or valuation


At 1 October 2023
262,500



At 30 September 2024
262,500






Net book value



At 30 September 2024
262,500



At 30 September 2023
262,500

The investment is in 100% of the share capital of Lawson Haulage Limited.


15.



Subsidiary undertakings





The following were subsidiary undertakings of the company:

Name

Registered office

Class of shares

Holding

Lawsons Haulage Limited
Gote Mill House, Gote Road, Cockermouth, Cumbria CA13 0JQ
Ordinary
100%
Lawsons Haulage Limited
Gote Mill House, Gote Road, Cockermouth, Cumbria CA13 0JQ
Preference shares
100%

Page 30

 
SAMETIMETOMORROW LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

16.


Investment property

Group


Investment property

£



Valuation


At 1 October 2023
88,297



At 30 September 2024
88,297

The 2024 valuations were made by the directors, on an open market value for existing use basis.







17.


Stocks

Group
Group
2024
2023
£
£

Fuel, parts and other stock items
75,548
71,401

75,548
71,401



18.


Debtors

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Trade debtors
2,137,242
1,804,761
-
-

Other debtors
896,932
871,196
2,000
2,000

Unpaid share capital
262,500
262,500
262,500
262,500

Prepayments and accrued income
282,066
331,642
-
-

Tax recoverable
-
76,239
-
-

3,578,740
3,346,338
264,500
264,500




Page 31

 
SAMETIMETOMORROW LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

19.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Trade creditors
504,754
672,008
-
-

Corporation tax
-
106,862
-
-

Other taxation and social security
290,428
255,250
-
-

Obligations under finance leases
543,587
599,948
-
-

Other creditors
199,171
295,405
-
-

Accruals and deferred income
235,016
249,659
-
-

1,772,956
2,179,132
-
-


Hire purchase agreements totalling £543,587 (2023 - £599,948) disclosed under creditors falling due within one year are secured by the group.


20.


Creditors: Amounts falling due after more than one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Other borrowings
64,000
64,000
-
-

Obligations under finance leases
1,000,123
403,086
-
-

1,064,123
467,086
-
-


Hire purchase agreements of £1,000,123 (2023 - £403,086) disclosed under creditors falling due after one year are secured by the group.




21.


Loans


Analysis of the maturity of loans is given below:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Amounts falling due 1-2 years

Other loans
64,000
64,000
-
-




Page 32

 
SAMETIMETOMORROW LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

22.


Finance lease obligations


Minimum lease payments under hire purchase fall due as follows:

Group
Group
2024
2023
£
£

Within one year
543,587
599,948

Between 1-5 years
1,000,123
403,086

1,543,710
1,003,034

Finance lease payments represent rentals payable by the company or group for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 3 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.


23.


Deferred taxation


Group



2024


£






At beginning of year
922,229


Charged to profit or loss
612,124



At end of year
1,534,353






Group
Group
2024
2023
£
£

Accelerated capital allowances
1,539,688
922,229

Tax losses carried forward
(3,543)
-

Short term timing differences
(1,792)
-

1,534,353
922,229

The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

Page 33

 
SAMETIMETOMORROW LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

24.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



525,000 (2023 - 525,000) Ordinary shares of £1.00 each
525,000
525,000



25.


Reserves

Profit and loss account

This reserve represents cumulative profits and losses.


26.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £79,074 (2023 - £113,285). Contributions totalling £7,168 (2021 - £5,634) were payable to the fund at the statement of financial position date and are included in creditors.


27.


Directors' benefits: advances, credit and guarantees

During the year advances of £77,000 were made to Ms Lawson, a director, in respect of a loan. Repayments totalling £81,900 were made during the year. Interest of £3,125 has been charged. At the balance sheet date the loan was overdrawn by £135,182 (2023 - £136,957). The loan is unsecured and repayable on demand. Interest is charged at the standard rate.
During the year advances of £103,648 were made to Mr Lawson, a director, in respect of a loan. Repayments totalling £81,900 were made during the year. Interest of £9,303 has been charged. At the balance sheet date the loan was overdrawn by £416,661 (2023 - £385,610). The loan is unsecured, repayable on demand. Interest is charged at the standard rate.


28.


Related party transactions

Included in other creditors is a loan of £64,000 (2023 - £64,000) from Lawsons Haulage Executive Trust, a Trust which is for the benefit of the directors of Lawsons Haulage Limited. Interest is payable quarterly at a rate of 3% above bank base rate. Interest charged during the year amounted to £Nil (2023 - £4,523). The total amount outstanding at the year end was £92,221 (2023 - £92,221).
Included within other debtors is £213,480 (2023 - £218,976) due from Lawson Properties (Cockermouth) Limited. Lawson Properties (Cockermouth) Limited and Lawsons Haulage Limited have common ownership and control.
At the year end the following amounts were outstanding in respect of loans with the directors: Mr R J Lawson £416,661 overdrawn (2023 - £385,610 overdrawn), Ms P Lawson £135,182 overdrawn (2023 - £136,957 overdrawn) and Mrs M E Lawson £96,819 owed to the directors  (2023 - £112,104 owed to the director). Interest is charged on overdrawn amounts at the government standard rate.

29.


Controlling party

The group was under the control of the directors throughout the year.

Page 34

 
SAMETIMETOMORROW LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
30.


Analysis of net debt





At 1 October 2023
Cash flows
New finance leases
At 30 September 2024
£

£

£

£

Cash at bank and in hand

2,517,777

386,118

-

2,903,895

Debt due after 1 year

(64,000)

-

-

(64,000)

Debt due within 1 year

(112,103)

15,284

-

(96,819)

Obligations under finance leases

(1,003,034)

(1,805,676)

1,265,000

(1,543,710)


1,338,640
(1,404,274)
1,265,000
1,199,366


Page 35