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Registered number: 7864521
HGV DRIVER ACCOUNTANCY LIMITED
Unaudited Financial Statements
For The Year Ended 30 September 2024
AFFIRM ACCOUNTANCY SERVICES LIMITED
ICAEW
76 MARKET STREET
FARNWORTH
BOLTON
BL4 7NY
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 7864521
30 September 2024 30 September 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 433,963 478,150
Investments 5 36,667 16,667
470,630 494,817
CURRENT ASSETS
Debtors 6 517,381 437,464
Cash at bank and in hand 307,970 402,445
825,351 839,909
Creditors: Amounts Falling Due Within One Year 7 (398,750 ) (788,675 )
NET CURRENT ASSETS (LIABILITIES) 426,601 51,234
TOTAL ASSETS LESS CURRENT LIABILITIES 897,231 546,051
Creditors: Amounts Falling Due After More Than One Year 8 (1,074,628 ) (700,987 )
NET LIABILITIES (177,397 ) (154,936 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (177,497 ) (155,036 )
SHAREHOLDERS' FUNDS (177,397) (154,936)
Page 1
Page 2
For the year ending 30 September 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr NEIL HOOTON
Director
04/06/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
HGV DRIVER ACCOUNTANCY LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 7864521 . The registered office is 76 MARKET STREET, FARNWORTH, BOLTON, BL4 7NY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Nil
Plant & Machinery 20%
Motor Vehicles 20%
Fixtures & Fittings 20%
Computer Equipment 20%
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Page 4
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
30 September 2024 30 September 2023
Office and administration 7 7
7 7
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 October 2023 259,090 29,383 10,000 352,956
As at 30 September 2024 259,090 29,383 10,000 352,956
...CONTINUED
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Page 5
Depreciation
As at 1 October 2023 - 22,031 2,000 149,716
Provided during the period - 1,471 1,600 40,648
As at 30 September 2024 - 23,502 3,600 190,364
Net Book Value
As at 30 September 2024 259,090 5,881 6,400 162,592
As at 1 October 2023 259,090 7,352 8,000 203,240
Computer Equipment Total
£ £
Cost
As at 1 October 2023 9,101 660,530
As at 30 September 2024 9,101 660,530
Depreciation
As at 1 October 2023 8,633 182,380
Provided during the period 468 44,187
As at 30 September 2024 9,101 226,567
Net Book Value
As at 30 September 2024 - 433,963
As at 1 October 2023 468 478,150
5. Investments
Unlisted
£
Cost
As at 1 October 2023 16,667
Additions 20,000
As at 30 September 2024 36,667
Provision
As at 1 October 2023 -
As at 30 September 2024 -
Net Book Value
As at 30 September 2024 36,667
As at 1 October 2023 16,667
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Page 6
6. Debtors
30 September 2024 30 September 2023
£ £
Due within one year
Amounts owed by associates 517,381 437,464
7. Creditors: Amounts Falling Due Within One Year
30 September 2024 30 September 2023
£ £
Trade creditors - 1
Bank loans and overdrafts 18,686 18,686
VAT 26,024 56,131
Drivers amounts held in Trust (Current liabilities - creditors < 1 year) 95,784 246,886
Accruals and deferred income 107,506 396,951
Director's loan account 150,750 70,020
398,750 788,675
8. Creditors: Amounts Falling Due After More Than One Year
30 September 2024 30 September 2023
£ £
Bank loans 104,310 121,270
Drivers amount held in Trust (Amount due over > 1 Year) 207,506 215,013
Directors loan account 762,812 364,704
1,074,628 700,987
9. Share Capital
30 September 2024 30 September 2023
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Dividends paid to directors
Page 6