Company Registration No. 13396924 (England and Wales)
Cornwall And Sons Haulage And Logistics Limited
Unaudited accounts
for the period from 1 June 2024 to 31 March 2025
Cornwall And Sons Haulage And Logistics Limited
Unaudited accounts
Contents
Cornwall And Sons Haulage And Logistics Limited
Company Information
for the period from 1 June 2024 to 31 March 2025
Director
Aaron Marhshall James Cornwall
Company Number
13396924 (England and Wales)
Cornwall And Sons Haulage And Logistics Limited
Statement of financial position
as at 31 March 2025
Tangible assets
621,230
619,978
Cash at bank and in hand
(15,591)
(16,554)
Creditors: amounts falling due within one year
(539,346)
(536,184)
Net current liabilities
(293,393)
(224,217)
Total assets less current liabilities
327,837
395,761
Creditors: amounts falling due after more than one year
(197,937)
(339,386)
Provisions for liabilities
Deferred tax
(118,536)
(118,536)
Net assets/(liabilities)
11,364
(62,161)
Profit and loss account
11,264
(62,261)
Shareholders' funds
11,364
(62,161)
For the period ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 May 2025 and were signed on its behalf by
Aaron Marhshall James Cornwall
Director
Company Registration No. 13396924
Cornwall And Sons Haulage And Logistics Limited
Notes to the Accounts
for the period from 1 June 2024 to 31 March 2025
Cornwall And Sons Haulage And Logistics Limited is a private company, limited by shares, registered in England and Wales, registration number 13396924.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the period from 1 June 2024 to 31 March 2025 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 June 2023.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Depreciation is provided on the following basis:
Plant and machinery 5% Reducing Balance
Motor vehicles 5% Reducing Balance
Office equipment 25% Reducing Balance
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively fi appropriate, or fi there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
At the balance sheet date, the company had net assets of £11,364 the director's consider it appropriate to prepare the financial statements on a going concern basis based upon their own personal continued support for a period of at least 12 months including personal financial backing.
Cornwall And Sons Haulage And Logistics Limited
Notes to the Accounts
for the period from 1 June 2024 to 31 March 2025
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts.
Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2024
245,015
428,905
35,954
709,874
At 31 March 2025
245,015
428,905
35,954
709,874
At 1 June 2024
21,088
67,962
846
89,896
Charge for the period
(8,679)
7,384
43
(1,252)
At 31 March 2025
12,409
75,346
889
88,644
At 31 March 2025
232,606
353,559
35,065
621,230
At 31 May 2024
223,927
360,943
35,108
619,978
Cornwall And Sons Haulage And Logistics Limited
Notes to the Accounts
for the period from 1 June 2024 to 31 March 2025
Amounts falling due within one year
Trade debtors
157,156
226,555
Accrued income and prepayments
19,499
-
Other debtors
39,889
56,966
6
Creditors: amounts falling due within one year
2025
2024
Obligations under finance leases and hire purchase contracts
122,225
123,165
Trade creditors
173,660
273,427
Taxes and social security
65,985
46,441
Other creditors
17,874
20,000
7
Creditors: amounts falling due after more than one year
2025
2024
Obligations under finance leases and hire purchase contracts
182,311
287,386
Other creditors
15,626
52,000
Cornwall And Sons Haulage And Logistics Limited
Notes to the Accounts
for the period from 1 June 2024 to 31 March 2025
8
Deferred taxation
2025
2024
Accelerated capital allowances
118,536
118,536
Provision at start of period
118,536
118,536
Provision at end of period
118,536
118,536
The tax expense for the year comprises current and deferred tax. Deferred Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits and, any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
9
Average number of employees
During the period the average number of employees was 4 (2024: 4).