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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
Page
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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)
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Cornwall And Sons Haulage And Logistics Limited Statement of financial position as at 31 March 2025
2025 
2024 
Notes
£ 
£ 
Fixed assets
Tangible assets
621,230 
619,978 
Current assets
Inventories
45,000 
45,000 
Debtors
216,544 
283,521 
Cash at bank and in hand
(15,591)
(16,554)
245,953 
311,967 
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)
Capital and reserves
Share premium
100 
100 
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
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Cornwall And Sons Haulage And Logistics Limited Notes to the Accounts for the period from 1 June 2024 to 31 March 2025
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
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.
Going concern
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.
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Cornwall And Sons Haulage And Logistics Limited Notes to the Accounts for the period from 1 June 2024 to 31 March 2025
Pension costs
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
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 taxation
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.
Leased assets
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 
Depreciation
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 
Net book value
At 31 March 2025
232,606 
353,559 
35,065 
621,230 
At 31 May 2024
223,927 
360,943 
35,108 
619,978 
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Cornwall And Sons Haulage And Logistics Limited Notes to the Accounts for the period from 1 June 2024 to 31 March 2025
5
Debtors
2025 
2024 
£ 
£ 
Amounts falling due within one year
Trade debtors
157,156 
226,555 
Accrued income and prepayments
19,499 
- 
Other debtors
39,889 
56,966 
216,544 
283,521 
6
Creditors: amounts falling due within one year
2025 
2024 
£ 
£ 
VAT
159,602 
73,151 
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 
539,346 
536,184 
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 
197,937 
339,386 
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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 
2025 
2024 
£ 
£ 
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).
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