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Registration number: 14228080

Semmens Haulage Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Semmens Haulage Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Semmens Haulage Limited

Company Information

Directors

Mr NT Semmens

Mr J Semmens

Registered office

15 Alverton Street
Penzance
Cornwall
TR18 2QP

Accountants

D.J. Reynolds & Co
15 Alverton Street
Penzance
Cornwall
TR18 2QP

 

Semmens Haulage Limited

(Registration number: 14228080)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

118,390

157,853

Current assets

 

Debtors

5

6,699

42,565

Cash at bank and in hand

 

9,723

8,082

 

16,422

50,647

Creditors: Amounts falling due within one year

6

(2,554)

(268,900)

Net current assets/(liabilities)

 

13,868

(218,253)

Total assets less current liabilities

 

132,258

(60,400)

Creditors: Amounts falling due after more than one year

6

(227,900)

-

Net liabilities

 

(95,642)

(60,400)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(95,742)

(60,500)

Shareholders' deficit

 

(95,642)

(60,400)

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.

Directors' 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 directors acknowledge their 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 April 2025 and signed on its behalf by:
 

.........................................
Mr NT Semmens
Director

.........................................
Mr J Semmens
Director

 
     
 

Semmens Haulage Limited

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.

The address of its registered office is:
15 Alverton Street
Penzance
Cornwall
TR18 2QP

These financial statements were authorised for issue by the Board on 29 April 2025.

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 except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

For the year ended 31 July 2024 the company made a loss of £35,242 (2023: loss of £60,500). Further, as at 31 July 2024 the company had net liabilities of £95,642 (2023: £60.400). The company is financed by a loan from one of the directors (N T Semmens) of £227,900 (2023: £267,900). There are no terms of repayment, interest or security agreed on the director's loan account.

These conditions indicate the existence of a material uncertainty that may cast doubt about the company's ability to continue as a going concern. The director (N T Semmens) has confirmed his willingness not to withdraw the loan until such time as the company is able to make repayments and continue to meet it's overheads and other liabilities.

For this reason, the financial statements have been prepared on a going concern basis.

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/value added tax, returns, 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.

 

Semmens Haulage Limited

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

Tax

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Semmens Haulage Limited

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

Borrowings

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2023

210,470

210,470

At 31 July 2024

210,470

210,470

Depreciation

At 1 August 2023

52,617

52,617

Charge for the year

39,463

39,463

At 31 July 2024

92,080

92,080

Carrying amount

At 31 July 2024

118,390

118,390

At 31 July 2023

157,853

157,853

 

Semmens Haulage Limited

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

5

Debtors

Current

2024
£

2023
£

Trade debtors

(343)

-

Prepayments

6,107

388

Other debtors

935

42,177

 

6,699

42,565

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,264

-

Accruals and deferred income

1,290

1,000

Other creditors

-

267,900

2,554

268,900

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

227,900

-

 

Semmens Haulage Limited

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

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

         

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Other borrowings

227,900

-

9

Related party transactions

Transactions with directors

2024

At 1 August 2023
£

Advances to director
£

Repayments by director
£

At 31 July 2024
£

Mr NT Semmens

Interest free loan from Director, payable on demand

267,900

(40,000)

-

227,900

         
       

Mr J Semmens

Interest free loan from director, payable on demand

-

(245)

7

(238)

         
       

 

2023

At 12 July 2022
£

Advances to director
£

Repayments by director
£

At 31 July 2023
£

Mr NT Semmens

Interest free loan from Director, payable on demand

-

(100)

268,000

267,900