IRIS Accounts Production v25.1.0.734 03847630 Board of Directors Board of Directors 1.10.23 30.9.24 30.9.24 Medium entities haulage and road sweeping. true false true true false false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. 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REGISTERED NUMBER: 03847630 (England and Wales)








Strategic Report,

Report of the Directors and

Financial Statements

For The Year Ended 30 September 2024

for

Burcombe Haulage Limited

Burcombe Haulage Limited (Registered number: 03847630)






Contents of the Financial Statements
For The Year Ended 30 September 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Statement of Comprehensive Income 7

Balance Sheet 8

Statement of Changes in Equity 9

Cash Flow Statement 10

Notes to the Cash Flow Statement 11

Notes to the Financial Statements 12


Burcombe Haulage Limited

Company Information
For The Year Ended 30 September 2024







DIRECTORS: Mrs C M Hodge
Mrs N A Haigh
Mr R Ackford
Mr S Wilkie





SECRETARY: Mrs N A Haigh





REGISTERED OFFICE: Harscombe House
1 Darklake View
Plymouth
Devon
PL6 7TL





BUSINESS ADDRESS: Luscombe View
St Dominic
Saltash
Cornwall
PL12 6SH





REGISTERED NUMBER: 03847630 (England and Wales)





AUDITORS: TC Group
Statutory Auditors
Harscombe House
1 Darklake View
Plymouth
Devon
PL6 7TL

Burcombe Haulage Limited (Registered number: 03847630)

Strategic Report
For The Year Ended 30 September 2024

The directors present their strategic report for the year ended 30 September 2024.

REVIEW OF BUSINESS
During the year the company continued the business of haulage, primarily for the construction industry but also for general haulage and freight distribution services.

The Company's turnover for the year was £19,078,916 an increase of 9.9% on the prior year (2023: £17,359,525). Profit before tax for the financial year saw a decrease of 34.49% to £789,885 (2023: £1,205,765).

The balance sheet shows a strengthened position with net assets increasing by 2.56% on the prior year to £7,912,799 (2023: £7,715,114).

Key performance indicators and other business measures

30.09.24 30.09.23
£ £
Turnover 19,078,916 17,359,525
Gross margin 14.92% 15.63%
Profit before tax 789,885 1,205,765
Net assets 7,912,799 7,715,114



PRINCIPAL RISKS AND UNCERTAINTIES
The key risks facing the company are:

Cyclical nature of the construction industry - most of the trading activity of the company is based around the construction industry which suffers from lean times and times of opportunity. The directors mitigate this risk through company use of sub-contractors which enable the company to control labour costs during busier times.

Availability of skilled drivers - with the plant utilised by the company skilled drivers are becoming more difficult to attract and retain. The directors review the recruitment and retention initiatives to ensure it attracts the best staff and keeps them with the company.

Costs of fuel - Fuel prices are monitored by the company and reflected within their pricing structure. To mitigate this risk, the directors periodically review the pricing structure to ensure fuel price movement is reflected in the pricing policy.

The key to running a reliable and efficient service is the maintenance and repair of lorries. Whilst the company has a reinvestment policy for the replacement of lorries as is necessary for ongoing maintenance, it is with this in mind that since the year end, the company has invested in a modern workshop to support the continued growth of the fleet.

The company's future plans are to continue to grow the company organically.

ON BEHALF OF THE BOARD:





Mrs C M Hodge - Director


15 May 2025

Burcombe Haulage Limited (Registered number: 03847630)

Report of the Directors
For The Year Ended 30 September 2024

The directors present their report with the financial statements of the company for the year ended 30 September 2024.

DIVIDENDS
Interim dividends of £4,581 per ordinary share were paid during the year. The directors recommended a final dividend of £nil per share.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report.

Mrs C M Hodge
Mrs N A Haigh
Mr R Ackford
Mr S Wilkie

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies 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 company 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 enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, TC Group, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mrs C M Hodge - Director


15 May 2025

Report of the Independent Auditors to the Members of
Burcombe Haulage Limited

Opinion
We have audited the financial statements of Burcombe Haulage Limited(the 'company') for the year ended 30 September 2024which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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 company's affairs as at 30 September 2024and of its profit/loss 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 Auditor's 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 UK, including the FRC'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 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 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.

Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's 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.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
- the information given in the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the directors' report has 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 company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the 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; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report and take advantage of the small companies exemption from the requirement to prepare a strategic report.



Report of the Independent Auditors to the Members of
Burcombe Haulage Limited



Responsibilities of directors
As explained more fully in the directors' responsibilities statement, 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 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 company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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 auditor's 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 financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud
The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.

Our approach was as follows:
- We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the directors and other management (as required by auditing standards), and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations;
- We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework (FRS 102 and the Companies Act 2006) and the relevant tax compliance regulations in the UK;
- We considered the nature of the industry, the control environment and business performance, including the key drivers for management's remuneration;
- We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit;
- We considered the procedures and controls that the company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls.

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council's website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to him in an auditor's 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.



Report of the Independent Auditors to the Members of
Burcombe Haulage Limited



James Groves (Senior Statutory Auditor)
for and on behalf of TC Group
Statutory Auditors
Harscombe House
1 Darklake View
Plymouth
Devon
PL6 7TL

19 May 2025

Burcombe Haulage Limited (Registered number: 03847630)

Statement of Comprehensive
Income
For The Year Ended 30 September 2024

30.9.24 30.9.23
Notes £    £   

TURNOVER 3 19,078,916 17,359,525

Cost of sales 16,233,184 14,645,892
GROSS PROFIT 2,845,732 2,713,633

Administrative expenses 2,020,486 1,484,750
825,246 1,228,883

Other operating income 3,384 2,898
OPERATING PROFIT 5 828,630 1,231,781

Interest receivable and similar income 13,275 10,456
841,905 1,242,237

Interest payable and similar expenses 6 52,021 36,472
PROFIT BEFORE TAXATION 789,884 1,205,765

Tax on profit 7 134,099 317,506
PROFIT FOR THE FINANCIAL YEAR 655,785 888,259

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

655,785

888,259

Burcombe Haulage Limited (Registered number: 03847630)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 9 2,449 8,326
Tangible assets 10 4,844,836 4,446,231
4,847,285 4,454,557

CURRENT ASSETS
Debtors 11 7,033,248 6,384,047
Cash at bank and in hand 492,876 833,574
7,526,124 7,217,621
CREDITORS
Amounts falling due within one year 12 2,972,560 2,546,477
NET CURRENT ASSETS 4,553,564 4,671,144
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,400,849

9,125,701

CREDITORS
Amounts falling due after more than one
year

13

(542,804

)

(569,110

)

PROVISIONS FOR LIABILITIES 16 (945,246 ) (841,477 )
NET ASSETS 7,912,799 7,715,114

CAPITAL AND RESERVES
Called up share capital 17 100 100
Retained earnings 18 7,912,699 7,715,014
SHAREHOLDERS' FUNDS 7,912,799 7,715,114

The financial statements were approved by the Board of Directors and authorised for issue on 15 May 2025 and were signed on its behalf by:




Mrs N A Haigh - Director



Mrs C M Hodge - Director


Burcombe Haulage Limited (Registered number: 03847630)

Statement of Changes in Equity
For The Year Ended 30 September 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 October 2022 100 7,344,755 7,344,855

Changes in equity
Dividends - (518,000 ) (518,000 )
Total comprehensive income - 888,259 888,259
Balance at 30 September 2023 100 7,715,014 7,715,114

Changes in equity
Dividends - (458,100 ) (458,100 )
Total comprehensive income - 655,785 655,785
Balance at 30 September 2024 100 7,912,699 7,912,799

Burcombe Haulage Limited (Registered number: 03847630)

Cash Flow Statement
For The Year Ended 30 September 2024

30.9.24 30.9.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,595,042 1,641,331
Interest element of hire purchase payments
paid

(52,021

)

(36,472

)
Tax paid (61,711 ) 113,928
Net cash from operating activities 1,481,310 1,718,787

Cash flows from investing activities
Purchase of tangible fixed assets (1,323,256 ) (1,608,061 )
Sale of tangible fixed assets 17,499 122,590
Interest received 13,275 10,456
Net cash from investing activities (1,292,482 ) (1,475,015 )

Cash flows from financing activities
New hire purchase in year 707,592 847,541
Capital repayments in year (736,558 ) (614,747 )
Amount introduced by directors 372 -
Group company loan movement (42,832 ) 41,920
Equity dividends paid (458,100 ) (518,000 )
Net cash from financing activities (529,526 ) (243,286 )

(Decrease)/increase in cash and cash equivalents (340,698 ) 486
Cash and cash equivalents at beginning
of year

2

833,574

833,088

Cash and cash equivalents at end of year 2 492,876 833,574

Burcombe Haulage Limited (Registered number: 03847630)

Notes to the Cash Flow Statement
For The Year Ended 30 September 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

30.9.24 30.9.23
£    £   
Profit before taxation 789,884 1,205,765
Depreciation charges 910,760 798,650
Loss on disposal of fixed assets 2,266 8,808
Finance costs 52,021 36,472
Finance income (13,275 ) (10,456 )
1,741,656 2,039,239
Increase in trade and other debtors (606,368 ) (421,885 )
Increase in trade and other creditors 459,754 23,977
Cash generated from operations 1,595,042 1,641,331

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 September 2024
30.9.24 1.10.23
£    £   
Cash and cash equivalents 492,876 833,574
Year ended 30 September 2023
30.9.23 1.10.22
£    £   
Cash and cash equivalents 833,574 833,088


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.10.23 Cash flow At 30.9.24
£    £    £   
Net cash
Cash at bank and in hand 833,574 (340,698 ) 492,876
833,574 (340,698 ) 492,876
Debt
Finance leases (1,186,537 ) 28,966 (1,157,571 )
(1,186,537 ) 28,966 (1,157,571 )
Total (352,963 ) (311,732 ) (664,695 )

Burcombe Haulage Limited (Registered number: 03847630)

Notes to the Financial Statements
For The Year Ended 30 September 2024

1. STATUTORY INFORMATION

Burcombe Haulage Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales, excluding value added tax and net of any discounts given.

Haulage services are recognised at the point the customer is invoiced for goods and services, being the date the work is completed.

Sweeping services are recognised at the point the customer is invoiced for goods and services, being the date the work is completed.

Storage services are recognised in accordance with the period covered.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer Software are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 2% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Deferred taxation
Full provision is made at current rates for taxation deferred in respect of all material timing differences.


Burcombe Haulage Limited (Registered number: 03847630)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

3. TURNOVER

The turnover and profit before taxation are attributable to the principal activities of the company.

An analysis of turnover by class of business is given below:

30.9.24 30.9.23
£    £   
Haulage services 17,711,877 16,122,441
Sweeper services 1,159,031 1,014,187
Storage services 208,008 222,897
19,078,916 17,359,525

4. EMPLOYEES AND DIRECTORS
30.9.24 30.9.23
£    £   
Wages and salaries 4,722,891 4,282,165
Social security costs 466,239 418,053
Other pension costs 225,168 109,701
5,414,298 4,809,919

The average number of employees during the year was as follows:
30.9.24 30.9.23

Directors 4 5
Administration 10 11
Drivers 102 93
116 109

30.9.24 30.9.23
£    £   
Directors' remuneration 150,995 183,576
Directors' pension contributions to money purchase schemes 133,520 27,253

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 4 5

5. OPERATING PROFIT

The operating profit is stated after charging:

30.9.24 30.9.23
£    £   
Depreciation - owned assets 520,506 445,530
Depreciation - assets on hire purchase contracts 384,380 349,323
Loss on disposal of fixed assets 2,266 8,808
Computer Software amortisation 5,877 5,877
Auditors' remuneration 3,612 3,440

6. INTEREST PAYABLE AND SIMILAR EXPENSES
30.9.24 30.9.23
£    £   
Hire purchase interest 52,021 36,472

Burcombe Haulage Limited (Registered number: 03847630)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.9.24 30.9.23
£    £   
Current tax:
UK corporation tax 30,330 143,403

Deferred tax 103,769 174,103
Tax on profit 134,099 317,506

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

30.9.24 30.9.23
£    £   
Profit before tax 789,884 1,205,765
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 22%)

197,471

265,268

Effects of:
Expenses not deductible for tax purposes 2,076 2,621
Capital allowances in excess of depreciation (103,304 ) (140,314 )
Adjustments to tax charge in respect of previous periods - 15,828
Deferred tax 103,769 174,103
Research & Development credit (65,913 ) -
Total tax charge 134,099 317,506

8. DIVIDENDS
30.9.24 30.9.23
£    £   
Ordinary shares of £1 each
Final 458,100 518,000

9. INTANGIBLE FIXED ASSETS
Computer
Software
£   
COST
At 1 October 2023
and 30 September 2024 29,386
AMORTISATION
At 1 October 2023 21,060
Amortisation for year 5,877
At 30 September 2024 26,937
NET BOOK VALUE
At 30 September 2024 2,449
At 30 September 2023 8,326

Burcombe Haulage Limited (Registered number: 03847630)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

10. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 October 2023 773,833 7,580,417 144,321 157,267 8,655,838
Additions 78,672 1,059,202 73,800 111,582 1,323,256
Disposals - (135,750 ) - (1,600 ) (137,350 )
At 30 September 2024 852,505 8,503,869 218,121 267,249 9,841,744
DEPRECIATION
At 1 October 2023 128,067 3,908,059 97,034 76,447 4,209,607
Charge for year 15,947 837,267 13,738 37,934 904,886
Eliminated on disposal - (116,199 ) - (1,386 ) (117,585 )
At 30 September 2024 144,014 4,629,127 110,772 112,995 4,996,908
NET BOOK VALUE
At 30 September 2024 708,491 3,874,742 107,349 154,254 4,844,836
At 30 September 2023 645,766 3,672,358 47,287 80,820 4,446,231

The total carrying amount of assets is pledged as security for the group's bank loans.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 October 2023 2,673,463
Additions 855,513
Transfer to ownership (642,051 )
At 30 September 2024 2,886,925
DEPRECIATION
At 1 October 2023 788,297
Charge for year 384,380
Transfer to ownership (312,901 )
At 30 September 2024 859,776
NET BOOK VALUE
At 30 September 2024 2,027,149
At 30 September 2023 1,885,166

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 3,523,571 2,956,112
Amounts owed by group undertakings 3,273,231 3,230,398
Other debtors 9,733 11,980
Prepayments and accrued income 226,713 185,557
7,033,248 6,384,047

Burcombe Haulage Limited (Registered number: 03847630)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Hire purchase contracts (see note 14) 614,767 617,427
Trade creditors 1,812,539 1,333,299
Corporation tax 96,244 127,625
VAT 349,565 371,276
Other creditors 99,074 96,849
Directors' loan accounts 371 1
2,972,560 2,546,477

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.24 30.9.23
£    £   
Hire purchase contracts (see note 14) 542,804 569,110

14. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.9.24 30.9.23
£    £   
Net obligations repayable:
Within one year 614,767 617,427
Between one and five years 542,804 569,110
1,157,571 1,186,537

Non-cancellable operating leases
30.9.24 30.9.23
£    £   
Within one year 372,818 373,323
Between one and five years 567,966 568,014
In more than five years 86,917 -
1,027,701 941,337

Lease payments recognised as an expense in this years accounts of £80,500 in respect of land and buildings and £430,531 in respect of equipment hire (2023: £80,500 in respect of land and buildings and £460,673 in respect of equipment hire).

15. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Hire purchase contracts 1,157,571 1,186,537

The company provides a guarantee for the bank loan of £958,130 (2023: £1,174,381) held within the sister company Callycombe Aggregates Limited by way of a fixed charge over the company's assets.

The hire purchase agreements are secured on the assets they are financing.

Burcombe Haulage Limited (Registered number: 03847630)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

16. PROVISIONS FOR LIABILITIES
30.9.24 30.9.23
£    £   
Deferred tax provision 945,246 841,477

Deferred
tax
£   
Balance at 1 October 2023 841,477
Accelerated capital allowances 103,769
Balance at 30 September 2024 945,246

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
90 Ordinary £1 90 90
10 Ordinary B 1 10 10
100 100

18. RESERVES
Retained
earnings
£   

At 1 October 2023 7,715,014
Profit for the year 655,785
Dividends (458,100 )
At 30 September 2024 7,912,699

Burcombe Haulage Limited (Registered number: 03847630)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

19. RELATED PARTY DISCLOSURES

The company trades from premises owned by the directors and no amount is charged by them to the company.

At the year end Burcombe Group SW Ltd, the parent company, owed the company £302,026 (2023: £302,026). No interest has been charged on these loans.

At the year end Burcombe Concrete Ltd, a sister company, owed the company £366,198 (2023: £410,246). No interest has been charged on these loans.

The company made sales to Burcombe Concrete Ltd in the year of £202,191 (2023: £282,995) The amount due to the company at the year end totalled £19,269 (2023: £14,153).

The company made purchases from Burcombe Concrete Ltd in the year of £19,118 (2023: £24,747). The amount owed by the company at the year end totalled £508 (2023: £186).

At the year end Tamar Valley Projects Ltd, a sister company, owed the company £745,535 (2023: £728,655). No interest has been charged on these loans.

At the year end Callycombe Aggregates Ltd, a sister company, owed the company £1,859,472 (2023: £1,789,472). No interest has been charged on these loans.

The company made sales to Callycombe Aggregates Ltd in the year of £86,492 (2023: £99,046). The amount due to the company at the year end totalled £14,870 (2023: £30,007).

The company made purchases from Callycombe Aggregates Ltd in the year of £261,697 (2023: £159,167). The amount owed by the company at the year end totalled £16,867 (2023: £36,363).

The company made purchases from Hodge Electrical & Mechanical Limited, a company in which a director is the spouse of a director of Burcombe Haulage Limited, in the year of £38,982 (2023: £7,283). The amount owed by the company at the year end was £19,872 (2023: £144).

20. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C Hodge and N Haigh directors and shareholders of the parent company Burcombe Group SW Limited.