IRIS Accounts Production v25.1.3.33 03658682 Board of Directors 1.1.24 31.12.24 31.12.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh036586822023-12-31036586822024-12-31036586822024-01-012024-12-31036586822022-12-31036586822023-01-012023-12-31036586822023-12-3103658682ns15:EnglandWales2024-01-012024-12-3103658682ns14:PoundSterling2024-01-012024-12-3103658682ns10:Director12024-01-012024-12-3103658682ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3103658682ns10:SmallEntities2024-01-012024-12-3103658682ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-3103658682ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3103658682ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3103658682ns10:FullAccounts2024-01-012024-12-310365868212024-01-012024-12-3103658682ns10:Director42024-01-012024-12-3103658682ns10:Director22024-01-012024-12-3103658682ns10:RegisteredOffice2024-01-012024-12-3103658682ns5:CurrentFinancialInstruments2024-12-3103658682ns5:CurrentFinancialInstruments2023-12-3103658682ns5:Non-currentFinancialInstruments2024-12-3103658682ns5:Non-currentFinancialInstruments2023-12-3103658682ns5:ShareCapital2024-12-3103658682ns5:ShareCapital2023-12-3103658682ns5:RetainedEarningsAccumulatedLosses2024-12-3103658682ns5:RetainedEarningsAccumulatedLosses2023-12-3103658682ns5:NetGoodwill2024-01-012024-12-3103658682ns5:IntangibleAssetsOtherThanGoodwill2024-01-012024-12-3103658682ns5:LandBuildingsns5:OwnedOrFreeholdAssets2024-01-012024-12-3103658682ns5:PlantMachinery2024-01-012024-12-3103658682ns5:MotorVehicles2024-01-012024-12-3103658682ns5:ComputerEquipment2024-01-012024-12-3103658682ns5:NetGoodwill2023-12-3103658682ns5:NetGoodwill2024-12-3103658682ns5:NetGoodwill2023-12-3103658682ns5:LandBuildings2023-12-3103658682ns5:PlantMachinery2023-12-3103658682ns5:MotorVehicles2023-12-3103658682ns5:ComputerEquipment2023-12-3103658682ns5:LandBuildings2024-01-012024-12-3103658682ns5:LandBuildings2024-12-3103658682ns5:PlantMachinery2024-12-3103658682ns5:MotorVehicles2024-12-3103658682ns5:ComputerEquipment2024-12-3103658682ns5:LandBuildings2023-12-3103658682ns5:PlantMachinery2023-12-3103658682ns5:MotorVehicles2023-12-3103658682ns5:ComputerEquipment2023-12-3103658682ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3103658682ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3103658682ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-12-3103658682ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-12-3103658682ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-12-3103658682ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-12-3103658682ns5:HirePurchaseContracts2024-12-3103658682ns5:HirePurchaseContracts2023-12-31
REGISTERED NUMBER: 03658682 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

T. A. READER TRANSPORT (I.O.W.) LIMITED

T. A. READER TRANSPORT (I.O.W.) LIMITED (REGISTERED NUMBER: 03658682)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


T. A. READER TRANSPORT (I.O.W.) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2024







DIRECTORS: Mrs P V Reader
J C Foreman
M J Foreman





REGISTERED OFFICE: East Quay
Kite Hill
Wootton Bridge
Isle of Wight
PO33 4LA





REGISTERED NUMBER: 03658682 (England and Wales)





ACCOUNTANTS: Harrison Black Limited
East Quay
Kite Hill
Wootton Bridge
Isle of Wight
PO33 4LA

T. A. READER TRANSPORT (I.O.W.) LIMITED (REGISTERED NUMBER: 03658682)

BALANCE SHEET
31ST DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 386,651 387,601
386,651 387,601

CURRENT ASSETS
Debtors 6 147,936 169,220
Cash at bank 342,693 300,811
490,629 470,031
CREDITORS
Amounts falling due within one year 7 112,877 114,858
NET CURRENT ASSETS 377,752 355,173
TOTAL ASSETS LESS CURRENT
LIABILITIES

764,403

742,774

CREDITORS
Amounts falling due after more than one
year

8

(3,333

)

(23,333

)

PROVISIONS FOR LIABILITIES (93,719 ) (70,656 )
NET ASSETS 667,351 648,785

T. A. READER TRANSPORT (I.O.W.) LIMITED (REGISTERED NUMBER: 03658682)

BALANCE SHEET - continued
31ST DECEMBER 2024

2024 2023
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 667,251 648,685
SHAREHOLDERS' FUNDS 667,351 648,785

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th May 2025 and were signed on its behalf by:





J C Foreman - Director


T. A. READER TRANSPORT (I.O.W.) LIMITED (REGISTERED NUMBER: 03658682)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024


1. STATUTORY INFORMATION

T. A. Reader Transport (I.O.W.) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1999, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 4% on cost
Plant & machinery - 20% on reducing balance
Commercial vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


T. A. READER TRANSPORT (I.O.W.) LIMITED (REGISTERED NUMBER: 03658682)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2024
and 31st December 2024 399,000
AMORTISATION
At 1st January 2024
and 31st December 2024 399,000
NET BOOK VALUE
At 31st December 2024 -
At 31st December 2023 -

T. A. READER TRANSPORT (I.O.W.) LIMITED (REGISTERED NUMBER: 03658682)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


5. TANGIBLE FIXED ASSETS
Freehold Plant & Commercial Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1st January 2024 98,838 34,492 901,042 8,765 1,043,137
Additions - - 123,191 795 123,986
Disposals - - (92,145 ) - (92,145 )
At 31st December 2024 98,838 34,492 932,088 9,560 1,074,978
DEPRECIATION
At 1st January 2024 83,111 25,647 538,999 7,779 655,536
Charge for year 3,954 1,769 91,594 356 97,673
Eliminated on disposal - - (64,882 ) - (64,882 )
At 31st December 2024 87,065 27,416 565,711 8,135 688,327
NET BOOK VALUE
At 31st December 2024 11,773 7,076 366,377 1,425 386,651
At 31st December 2023 15,727 8,845 362,043 986 387,601

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 125,072 149,914
Other debtors 22,864 19,306
147,936 169,220

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 20,000 36,304
Trade creditors 40,563 42,135
Taxation and social security 45,178 33,809
Other creditors 7,136 2,610
112,877 114,858

T. A. READER TRANSPORT (I.O.W.) LIMITED (REGISTERED NUMBER: 03658682)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 3,333 23,333

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 20,000 36,304
Between one and five years 3,333 23,333
23,333 59,637

10. ULTIMATE CONTROLLING PARTY

Mr & Mrs TA Reader own a controlling interest in the company, by virtue of ownership of 51% of the issued ordinary share capital.