Company registration number 06252823 (England and Wales)
MADDISON TRANSPORT LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
MADDISON TRANSPORT LIMITED
COMPANY INFORMATION
Director
Mr S J Nowacki
Company number
06252823
Registered office
C/O Xeinadin First Floor Secure House
Lulworth Close
Chandler's Ford
Southampton
Hampshire
England
SO53 3TL
Accountants
Xeinadin South East Limited
12 Conqueror Court
Sittingbourne
Kent
United Kingdom
ME10 5BH
MADDISON TRANSPORT LIMITED
CONTENTS
Page
Director's report
1
Accountants' report
2
Balance sheet
3 - 4
Notes to the financial statements
5 - 8
MADDISON TRANSPORT LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 MAY 2024
- 1 -

The director presents his annual report and financial statements for the year ended 31 May 2024.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

Mr S J Nowacki
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr S J Nowacki
Director
27 May 2025
MADDISON TRANSPORT LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MADDISON TRANSPORT LIMITED FOR THE YEAR ENDED 31 MAY 2024
- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Maddison Transport Limited for the year ended 31 May 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Maddison 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 financial statements of Maddison Transport Limited and state those matters that we have agreed to state to the board of directors of Maddison Transport Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Maddison Transport Limited and its board of directors as a body, for our work or for this report.

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

We have not been instructed to carry out an audit or a review of the financial statements of Maddison 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 statutory financial statements.

Xeinadin South East Limited
12 Conqueror Court
Sittingbourne
Kent
ME10 5BH
United Kingdom
27 May 2025
MADDISON TRANSPORT LIMITED
BALANCE SHEET
AS AT 31 MAY 2024
31 May 2024
- 3 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
3,400
4,250
Tangible assets
4
56,305
74,982
59,705
79,232
Current assets
Debtors
5
95,275
133,743
Creditors: amounts falling due within one year
6
(154,800)
(174,547)
Net current liabilities
(59,525)
(40,804)
Total assets less current liabilities
180
38,428
Creditors: amounts falling due after more than one year
7
(9,946)
(24,838)
Provisions for liabilities
(13,244)
-
0
Net (liabilities)/assets
(23,010)
13,590
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(23,110)
13,490
Total equity
(23,010)
13,590
MADDISON TRANSPORT LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024
31 May 2024
- 4 -

For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 27 May 2025
Mr S J Nowacki
Director
Company registration number 06252823 (England and Wales)
MADDISON TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 5 -
1
Accounting policies
Company information

Maddison Transport Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/O Xeinadin First Floor Secure House, Lulworth Close, Chandler's Ford, Southampton, Hampshire, England, SO53 3TL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

 

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is nil.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

MADDISON TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 6 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% on reducing balance
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.6
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.

1.7
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
5
5
MADDISON TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 7 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 June 2023 and 31 May 2024
17,000
Amortisation and impairment
At 1 June 2023
12,750
Amortisation charged for the year
850
At 31 May 2024
13,600
Carrying amount
At 31 May 2024
3,400
At 31 May 2023
4,250
4
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 June 2023 and 31 May 2024
11,778
386,207
397,985
Depreciation and impairment
At 1 June 2023
10,406
312,597
323,003
Depreciation charged in the year
274
18,403
18,677
At 31 May 2024
10,680
331,000
341,680
Carrying amount
At 31 May 2024
1,098
55,207
56,305
At 31 May 2023
1,372
73,610
74,982
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
90,275
133,743
Other debtors
5,000
-
0
95,275
133,743
MADDISON TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 8 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
16,860
20,091
Obligations under finance leases
9,892
17,010
Trade creditors
17,534
20,476
Corporation tax
4,137
1,192
Other taxation and social security
64,451
56,404
Other creditors
39,676
57,294
Accruals and deferred income
2,250
2,080
154,800
174,547
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
5,000
10,000
Other creditors
4,946
14,838
9,946
24,838
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