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Registered Number: 05312831
England and Wales

 

 

 

IDEAL TRANSPORT LIMITED



Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2024

End date: 31 March 2025
Director Susan Bone
Registered Number 05312831
Registered Office Produce House
1a Wickham Court Road
West Wickham
Kent
BR4 9LN
Accountants Ludlow Painter Limited
Produce House
1a Wickham Court Road
West Wickham
Kent
BR4 9LN
Secretary Susan Bone
1
Director's report and financial statements
The director presents her annual report and the financial statements for the year ended 31 March 2025.
Principal activities
The principal activity of the company during the financial year was of shipping and freight forwarding agents.
Directors
The directors who served the company throughout the year were as follows:
John Edward Bone
Susan Bone
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
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 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
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • 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 companys 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. The directors 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.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Susan Bone
Secretary

Date approved: 21 May 2025
2
Report to the directors on the preparation of the unaudited statutory accounts of Ideal Transport Limited for the year ended 31 March 2025.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ideal Transport Limited for the year ended 31 March 2025 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given to us.

As a practising member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.

This report is made solely to the Board of Directors of Ideal Transport Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Ideal Transport Limited and state those matters that we have agreed to state to the Board of Directors of Ideal Transport Limited, as a body, in this report.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ideal Transport Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Ideal Transport Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Ideal Transport Limited.You consider that Ideal Transport Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the accounts of Ideal Transport Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements 31 March 2025.



....................................................
Ludlow Painter Limited
Produce House
1a Wickham Court Road
West Wickham
Kent
BR4 9LN
21 May 2025
3
 
 
Notes
 
2025
£
  2024
£
Fixed assets      
Tangible fixed assets 5 8,218    10,957 
8,218    10,957 
Current assets      
Debtors 6 479,787    454,010 
Cash at bank and in hand 1,084,719    1,012,125 
1,564,506    1,466,135 
Creditors: amount falling due within one year 7 (752,416)   (725,213)
Net current assets 812,090    740,922 
 
Total assets less current liabilities 820,308    751,879 
Creditors: amount falling due after more than one year 8 (4,000)   (14,000)
Net assets 816,308    737,879 
 

Capital and reserves
     
Called up share capital 9 100    100 
Profit and loss account 816,208    737,779 
Shareholders' funds 816,308    737,879 
 


For the year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 21 May 2025 and were signed on its behalf by:


-------------------------------
Susan Bone
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 April 2023 65  891,583  891,648 
Profit for the year (113,804) (113,804)
Total comprehensive income for the year (113,804) (113,804)
Dividends (40,000) (40,000)
Shares issued 35  35 
Total investments by and distributions to owners 35  (40,000) (39,965)
At 31 March 2024 100  737,779  737,879 
At 01 April 2024 100  737,779  737,879 
Profit for the year 98,429  98,429 
Total comprehensive income for the year 98,429  98,429 
Dividends (20,000) (20,000)
Total investments by and distributions to owners (20,000) (20,000)
At 31 March 2025 100  816,208  816,308 
5
General Information
Ideal Transport Limited is a private company, limited by shares, registered in England and Wales, registration number 05312831, registration address Produce House, 1a Wickham Court Road, West Wickham, Kent, BR4 9LN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Website cost
Planning and operating costs for the company's website are charged to the profit and loss account as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Directors' Emoluments

2025
£
  2024
£
Administrative Expenses
Directors Remuneration 55,000    55,000 
55,000    55,000 

3.

Staff Costs

2025
£
  2024
£
Wages and salaries 244,977    245,680 
Pension costs, defined contribution plan 8,782    8,804 
Other staff costs 29,870    23,847 
283,629    278,331 

4.

Average number of employees

Average number of employees during the year was 9 (2024 : 9).
5.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 April 2024 51,340    51,340 
Additions  
Disposals  
At 31 March 2025 51,340    51,340 
Depreciation
At 01 April 2024 40,383    40,383 
Charge for year 2,739    2,739 
On disposals  
At 31 March 2025 43,122    43,122 
Net book values
Closing balance as at 31 March 2025 8,218    8,218 
Opening balance as at 01 April 2024 10,957    10,957 


6.

Debtors: amounts falling due within one year

2025
£
  2024
£
Trade Debtors 479,787    454,010 
479,787    454,010 

7.

Creditors: amount falling due within one year

2025
£
  2024
£
Trade Creditors 320,113    404,893 
Bank Loans & Overdrafts 8,500    8,500 
Corporation Tax 28,992   
PAYE & Social Security 11,799    5,816 
Other Creditors 2,256    2,327 
Wages & Salaries Control Account 14,477    14,414 
Vat/Duty Account 165,524    57,609 
Directors Current Account 192,796    222,796 
VAT 7,959    8,858 
752,416    725,213 

8.

Creditors: amount falling due after more than one year

2025
£
  2024
£
Bank Loans & Overdrafts 4,000    14,000 
4,000    14,000 

9.

Share Capital

Allotted, called up and fully paid
2025
£
  2024
£
100 Class A shares of £1.00 each 100    100 
100    100 

6