Sutcliffe's Transport Limited
Registered number: 01653689
Balance Sheet as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 234,331 322,643
Current assets
Stocks 4,332 5,776
Debtors 4 227,851 203,614
Cash at bank and in hand 298,463 157,288
530,646 366,678
Creditors: amounts falling due within one year 5 (142,179) (119,087)
Net current assets 388,467 247,591
Net assets 622,798 570,234
Capital and reserves
Called up share capital 6 6
Profit and loss account 622,792 570,228
Shareholders' funds 622,798 570,234
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.
S Sutcliffe
Director
Approved by the board on 26 November 2024
Sutcliffe's Transport Limited
Notes to the Accountsfor 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.
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:
Leasehold land and buildings 10% reducing balance basis
Plant and machinery 25% reducing balance basis
Fixtures, fittings, tools and equipment 25% reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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 10 10
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 September 2023 4,419 32,530 671,100 708,049
Disposals - - (57,600) (57,600)
At 31 August 2024 4,419 32,530 613,500 650,449
Depreciation
At 1 September 2023 4,177 27,876 353,353 385,406
Charge for the year 24 1,163 76,874 78,061
On disposals - - (47,349) (47,349)
At 31 August 2024 4,201 29,039 382,878 416,118
Net book value
At 31 August 2024 218 3,491 230,622 234,331
At 31 August 2023 242 4,654 317,747 322,643
4 Debtors 2024 2023
£ £
Trade debtors 205,203 178,762
Other debtors 22,648 24,852
227,851 203,614
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 28,042 39,696
Other taxes and social security costs 74,597 42,970
Other creditors 39,540 36,421
142,179 119,087
6 Other information
Sutcliffe's Transport Limited is a private company limited by shares and incorporated in England. Its registered office is:
Thornhill Cottage
Sowood
Stainland
Halifax
HX4 9LP
Sutcliffe's Transport Limited 01653689 false 2023-09-01 2024-08-31 2024-08-31 VT Final Accounts April 2025 S Sutcliffe No description of principal activity 01653689 2022-09-01 2023-08-31 01653689 core:WithinOneYear 2023-08-31 01653689 core:ShareCapital 2023-08-31 01653689 core:RetainedEarningsAccumulatedLosses 2023-08-31 01653689 2023-09-01 2024-08-31 01653689 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 01653689 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 01653689 bus:Director40 2023-09-01 2024-08-31 01653689 1 2023-09-01 2024-08-31 01653689 2 2023-09-01 2024-08-31 01653689 core:LandBuildings 2023-09-01 2024-08-31 01653689 core:PlantMachinery 2023-09-01 2024-08-31 01653689 core:Vehicles 2023-09-01 2024-08-31 01653689 countries:England 2023-09-01 2024-08-31 01653689 bus:FRS102 2023-09-01 2024-08-31 01653689 bus:FilletedAccounts 2023-09-01 2024-08-31 01653689 2024-08-31 01653689 core:WithinOneYear 2024-08-31 01653689 core:ShareCapital 2024-08-31 01653689 core:RetainedEarningsAccumulatedLosses 2024-08-31 01653689 core:LandBuildings 2024-08-31 01653689 core:PlantMachinery 2024-08-31 01653689 core:Vehicles 2024-08-31 01653689 2023-08-31 01653689 core:LandBuildings 2023-08-31 01653689 core:PlantMachinery 2023-08-31 01653689 core:Vehicles 2023-08-31 iso4217:GBP xbrli:pure