Registered number
12158167
TRUCKS FROM THE UK LIMITED
Filleted Accounts
31 August 2024
SAUNDERS & RICHARD LTD
Chartered Certified Accountants
187 WOODHOUSE ROAD
NORTH FINCHLEY
LONDON
N12 9AY
15582B-5
TRUCKS FROM THE UK LIMITED
Registered number: 12158167
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 103,102 102,441
Current assets
Stocks 86,955 62,925
Debtors 4 84,316 67,508
Cash at bank and in hand 20,497 27,978
191,768 158,411
Creditors: amounts falling due within one year 5 (121,539) (101,611)
Net current assets 70,229 56,800
Total assets less current liabilities 173,331 159,241
Creditors: amounts falling due after more than one year 6 (25,833) (35,833)
Provisions for liabilities (17,178) (19,464)
Net assets 130,320 103,944
Capital and reserves
Called up share capital 1 1
Profit and loss account 130,319 103,943
Shareholder's funds 130,320 103,944
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A T Guinchard
Director
Approved by the board on 27 May 2025
TRUCKS FROM THE UK LIMITED
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings and equipment 25% p.a on straight line.
Trucks 25% p.a on straight line.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Fixtures, Fittings & Equipment Trucks Total
£ £ £
Cost
At 1 September 2023 - 156,295 156,295
Additions 449 52,530 52,979
At 31 August 2024 449 208,825 209,274
Depreciation
At 1 September 2023 - 53,854 53,854
Charge for the year 112 52,206 52,318
At 31 August 2024 112 106,060 106,172
Net book value
At 31 August 2024 337 102,765 103,102
At 31 August 2023 - 102,441 102,441
4 Debtors 2024 2023
£ £
Trade debtors 66,500 57,100
Other debtors 17,816 10,408
84,316 67,508
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 26,000 114
Trade creditors 88,647 98,600
Taxation and social security costs 4,145 -
Other creditors 2,747 2,897
121,539 101,611
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 25,833 35,833
7 Controlling party
The company is controlled by A T Guinchard by virtue of having ownership of 100% of the issued ordinary share capital in the company.
8 Other information
TRUCKS FROM THE UK LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
28 Laneside
Edgware
HA8 9PJ
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