Registered number
11479905
Chatha Transport Ltd
Filleted Accounts
31 July 2024
Chatha Transport Ltd
Registered number: 11479905
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 112,455 140,569
Current assets
Debtors 4 8,515 100
Cash at bank and in hand 28,825 53,403
37,340 53,503
Creditors: amounts falling due within one year 5 (64,554) (86,902)
Net current liabilities (27,214) (33,399)
Total assets less current liabilities 85,241 107,170
Creditors: amounts falling due after more than one year 6 (2,940) (32,391)
Net assets 82,301 74,779
Capital and reserves
Called up share capital 100 100
Profit and loss account 82,201 74,679
Shareholders' funds 82,301 74,779
The director is 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 director acknowledges his 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.
Karm Banga
Director
Approved by the board on 25 April 2025
Chatha Transport Ltd
Notes to the Accounts
for the year ended 31 July 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:
Plant and machinery 20% Reducing balance
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 August 2023 315,874
At 31 July 2024 315,874
Depreciation
At 1 August 2023 175,305
Charge for the year 28,114
At 31 July 2024 203,419
Net book value
At 31 July 2024 112,455
At 31 July 2023 140,569
4 Debtors 2024 2023
£ £
Trade debtors 8,415 -
Other debtors 100 100
8,515 100
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 29,451 59,312
Director loan 7,924 14,795
Taxation and social security costs 26,986 12,602
Other creditors 193 193
64,554 86,902
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 2,940 32,391
7 Other information
Chatha Transport Ltd is a private company limited by shares and incorporated in England. Its registered office is:
3 Oaks Drive
Featherstone
Wolverhampton
WV10 7PX
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