Company registration number 07053688 (England and Wales)
LEWIS TRANSPORT DIRECT LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
LEWIS TRANSPORT DIRECT LTD
COMPANY INFORMATION
Director
Mr M A J Lewis
Company number
07053688
Registered office
3 Fitzmaurice Road
Wolverhampton
WV11 3EG
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
HSBC Bank Plc
114 High Street
Stourbridge
West Midlands
DY8 1DZ
LEWIS TRANSPORT DIRECT LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
LEWIS TRANSPORT DIRECT LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LEWIS TRANSPORT DIRECT LTD FOR THE YEAR ENDED 31 OCTOBER 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lewis Transport Direct Ltd for the year ended 31 October 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 Lewis Transport Direct Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lewis Transport Direct Ltd and state those matters that we have agreed to state to the board of directors of Lewis Transport Direct Ltd, 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 Lewis Transport Direct Ltd and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Lewis Transport Direct Ltd 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 profit of Lewis Transport Direct Ltd. You consider that Lewis Transport Direct Ltd 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 Lewis Transport Direct Ltd. 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.
Ormerod Rutter Limited
6 May 2025
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
LEWIS TRANSPORT DIRECT LTD
BALANCE SHEET
AS AT 31 OCTOBER 2024
31 October 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
45,818
45,536
Current assets
Debtors
4
83,499
67,320
Cash at bank and in hand
83,080
63,956
166,579
131,276
Creditors: amounts falling due within one year
5
(177,598)
(144,528)
Net current liabilities
(11,019)
(13,252)
Total assets less current liabilities
34,799
32,284
Creditors: amounts falling due after more than one year
6
(7,907)
(18,218)
Provisions for liabilities
8
(8,639)
(7,756)
Net assets
18,253
6,310
Capital and reserves
Called up share capital
9
10
10
Profit and loss reserves
18,243
6,300
Total equity
18,253
6,310
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
LEWIS TRANSPORT DIRECT LTD
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024
31 October 2024
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 6 May 2025
Mr M A J Lewis
Director
Company registration number 07053688 (England and Wales)
LEWIS TRANSPORT DIRECT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 4 -
1
Accounting policies
Company information
Lewis Transport Direct Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 3 Fitzmaurice Road, Wolverhampton, WV11 3EG.
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 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.3
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.
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 machinery
15% on reducing balance
Computer equipment
25% 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.
1.4
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.
LEWIS TRANSPORT DIRECT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.5
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Leases
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
28
34
LEWIS TRANSPORT DIRECT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 6 -
3
Tangible fixed assets
Plant and machinery
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 November 2023
2,715
8,186
113,850
124,751
Additions
1,562
40,695
42,257
Disposals
(83,450)
(83,450)
At 31 October 2024
2,715
9,748
71,095
83,558
Depreciation and impairment
At 1 November 2023
2,065
7,261
69,889
79,215
Depreciation charged in the year
96
623
14,468
15,187
Eliminated in respect of disposals
(56,662)
(56,662)
At 31 October 2024
2,161
7,884
27,695
37,740
Carrying amount
At 31 October 2024
554
1,864
43,400
45,818
At 31 October 2023
650
925
43,961
45,536
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
50,318
52,488
Other debtors
33,181
14,832
83,499
67,320
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,311
10,056
Trade creditors
1,675
13,060
Taxation and social security
132,988
106,782
Other creditors
32,624
14,630
177,598
144,528
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
7,907
18,218
LEWIS TRANSPORT DIRECT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 7 -
7
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Bank loans
18,218
28,274
Bank loans are secured by way of a government-backed guarantee.
8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
8,639
7,756
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
9
9
9
9
Ordinary Preferred of £1 each
1
1
1
1
10
10
10
10
10
Ultimate controlling party
The ultimate controlling party is Mr M A J Lewis.