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Registered number: 03319035









GREGORY AND DAVIS TRANSPORT LIMITED









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
GREGORY AND DAVIS TRANSPORT LIMITED
REGISTERED NUMBER: 03319035

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
496,642
500,973

Cash at bank and in hand
  
49,327
55,779

  
545,969
556,752

Creditors: amounts falling due within one year
 5 
(1,500)
(9,727)

Net current assets
  
 
 
544,469
 
 
547,025

Total assets less current liabilities
  
544,469
547,025

  

Net assets
  
544,469
547,025


Capital and reserves
  

Called up share capital 
 7 
23
23

Capital redemption reserve
  
179
179

Profit and loss account
  
544,267
546,823

  
544,469
547,025


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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 April 2025.




John Whelan
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
GREGORY AND DAVIS TRANSPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

The company is registered in England and Wales. The company's registered office is Sunderlands Estate, Church Lane, Kings Langley, Hertfordshire, WD4 8JX. The principal activity of the company until 1 March 2023 was that of haulage contractors. From 1 March 2023 the principal activity is that of a dormant company. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements are not prepared on a going concern basis and are instead prepared on a break up basis due to the company ceasing to trade during the previous period.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 2

 
GREGORY AND DAVIS TRANSPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
GREGORY AND DAVIS TRANSPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.9

Taxation

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 reporting date in the countries where the Company operates and generates income.


 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if 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.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
GREGORY AND DAVIS TRANSPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
495,000
500,443

Other debtors
1,642
530

496,642
500,973



5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
-
6,870

Other taxation and social security
-
479

Accruals and deferred income
1,500
2,378

1,500
9,727



6.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
49,327
49,327

49,327
49,327





Financial assets measured at fair value through profit or loss comprise...


7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



21 (2023 - 21) Ordinary shares of £1.00 each
21
21
2 (2023 - 2) Ordinary 'A' shares of £1.00 each
2
2
Page 5

 
GREGORY AND DAVIS TRANSPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.Share capital (continued)


23

23



8.


Related party transactions

The company has taken advantage of the exemption contained within paragraph 33.1A of Financial Reporting Standard 102 and has not disclosed transactions with other group members.


9.


Controlling party

The controlling interest in the company is held by O'Leary International ULC, an Unlimited company registered in the Republic of Ireland. 
The Ultimate controlling interest is held by AIMS Implementation Consulting ULC , an Unlimited company registered in the Republic of Ireland. Copies of the financial statements can be obtained from Marshmeadows, New Ross, Co. Wexford.


10.


Limitation of Auditor's Liability

The company has entered into a liability limitation agreement, the principal terms being as follows:-
Any liability is limited, pursuant to Section 537 of the Companies Act 2006, to no less than such amount as is considered fair and reasonable in each individual circumstance and to a maximum of ten times the level of the fee for the audit service being carried out.
The resolution approving this agreement is dated 1 December 2024.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 30 April 2025 by Mark Anthony Cupitt (Senior statutory auditor) on behalf of Lancaster  Clements Limited.

 
Page 6