Registered number
09735421
G & S HAULAGE (HENLOW) LTD
Filleted Accounts
31 August 2024
G & S HAULAGE (HENLOW) LTD
Registered number: 09735421
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 70,698 38,403
Current assets
Debtors 5 34,309 40,234
Cash at bank and in hand 55,594 57,042
89,903 97,276
Creditors: amounts falling due within one year 6 (100,582) (39,599)
Net current (liabilities)/assets (10,679) 57,677
Total assets less current liabilities 60,019 96,080
Creditors: amounts falling due after more than one year 7 (8,390) -
Provisions for liabilities (12,219) (5,531)
Net assets 39,410 90,549
Capital and reserves
Called up share capital 100 100
Profit and loss account 39,310 90,449
Shareholders' funds 39,410 90,549
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 Simmonds
Director
Approved by the board on 4 April 2025
G & S HAULAGE (HENLOW) LTD
Notes to the Accounts
for the year ended 31 August 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant, vehicles and equipment 25% reducing balance basis
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.
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 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2023 49,000
At 31 August 2024 49,000
Amortisation
At 1 September 2023 49,000
At 31 August 2024 49,000
Net book value
At 31 August 2024 -
Goodwill has been written off over its estimated economic life of 5 years.
4 Tangible fixed assets
Machinery & office equipment Motor vehicles Total
£ £ £
Cost
At 1 September 2023 4,833 163,349 168,182
Additions - 64,950 64,950
Disposals (650) (66,555) (67,205)
At 31 August 2024 4,183 161,744 165,927
Depreciation
At 1 September 2023 4,045 125,734 129,779
Charge for the year 148 19,810 19,958
On disposals (456) (54,052) (54,508)
At 31 August 2024 3,737 91,492 95,229
Net book value
At 31 August 2024 446 70,252 70,698
At 31 August 2023 788 37,615 38,403
5 Debtors 2024 2023
£ £
Trade debtors 29,502 36,194
Other debtors 4,807 4,040
34,309 40,234
6 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 32,785 -
Trade creditors 2,809 1,970
Taxation and social security costs 19,700 32,176
Other creditors 45,288 5,453
100,582 39,599
7 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 8,390 -
8 Related party transactions
The company has entered into a licence agreement with two of the directors in respect of business use of their home, whereby a fair proportion of household expenses are reimbursed. During the year £1,300 was paid (2023 £1,300) in respect of such services.
9 Other information
G & S HAULAGE (HENLOW) LTD is a private company limited by shares and incorporated in England. Its registered office is:
43b Clifton Road
Henlow
Beds
SG16 6BL
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