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Registration number: 01271370

Arthur Oakley Transport Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Arthur Oakley Transport Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 13

 

Arthur Oakley Transport Limited

Company Information

Directors

Mrs M H Oakley-Davies

Mr B A Oakley

Company secretary

Mrs M H Oakley-Davies

Registered office

Gatehouse Road
Rotherwas Industrial Estate
Hereford
Herefordshire
HR2 6LR

Accountants

Young & Co
Chartered Accountants
St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA

 

Arthur Oakley Transport Limited

(Registration number: 01271370)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

4,385,862

4,176,073

Current assets

 

Stocks

5

36,032

37,576

Debtors

6

1,339,063

1,356,798

Investments

7

2,250

2,250

Cash at bank and in hand

 

688,080

742,813

 

2,065,425

2,139,437

Creditors: Amounts falling due within one year

8

(1,145,262)

(1,205,245)

Net current assets

 

920,163

934,192

Total assets less current liabilities

 

5,306,025

5,110,265

Creditors: Amounts falling due after more than one year

8

(578,065)

(590,026)

Provisions for liabilities

(427,254)

(347,986)

Net assets

 

4,300,706

4,172,253

Capital and reserves

 

Called up share capital

9

603

603

Capital redemption reserve

300

300

Retained earnings

4,299,803

4,171,350

Shareholders' funds

 

4,300,706

4,172,253

For the financial 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.

Directors' responsibilities:

 

Arthur Oakley Transport Limited

(Registration number: 01271370)
Balance Sheet as at 30 September 2024
(continued)

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 June 2025 and signed on its behalf by:
 

.........................................
Mrs M H Oakley-Davies
Company secretary and director

.........................................
Mr B A Oakley
Director

 

Arthur Oakley Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Gatehouse Road
Rotherwas Industrial Estate
Hereford
Herefordshire
HR2 6LR

These financial statements were authorised for issue by the Board on 13 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

 

Arthur Oakley Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
(continued)

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold land

Nil

 

Arthur Oakley Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
(continued)

2

Accounting policies (continued)

Freehold buildings

4% of cost per annum

Motor vehicles

25% of written down value per annum

Plant and machinery

15% of cost per annum

Fixtures and fittings

25% of written down value per annum

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Arthur Oakley Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
(continued)

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Arthur Oakley Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
(continued)

2

Accounting policies (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 35 (2023 - 33).

 

Arthur Oakley Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
(continued)

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Cost or valuation

At 1 October 2023

2,936,405

71,714

428,167

3,212,529

Additions

-

5,648

2,000

873,283

Disposals

-

-

-

(325,850)

At 30 September 2024

2,936,405

77,362

430,167

3,759,962

Depreciation

At 1 October 2023

605,317

55,353

207,824

1,604,248

Charge for the year

54,841

5,231

51,154

495,135

Eliminated on disposal

-

-

-

(261,069)

At 30 September 2024

660,158

60,584

258,978

1,838,314

Carrying amount

At 30 September 2024

2,276,247

16,778

171,189

1,921,648

At 30 September 2023

2,331,088

16,361

220,343

1,608,281

 

Arthur Oakley Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
(continued)

4

Tangible assets (continued)

Total
£

Cost or valuation

At 1 October 2023

6,648,815

Additions

880,931

Disposals

(325,850)

At 30 September 2024

7,203,896

Depreciation

At 1 October 2023

2,472,742

Charge for the year

606,361

Eliminated on disposal

(261,069)

At 30 September 2024

2,818,034

Carrying amount

At 30 September 2024

4,385,862

At 30 September 2023

4,176,073

 

Arthur Oakley Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
(continued)

4

Tangible assets (continued)

5

Stocks

2024
£

2023
£

Other inventories

36,032

37,576

6

Debtors

Current

2024
£

2023
£

Trade debtors

1,305,622

1,322,506

Prepayments

27,620

28,471

Other debtors

5,821

5,821

 

1,339,063

1,356,798

7

Current asset investments

2024
£

2023
£

Other investments

2,250

2,250

 

Arthur Oakley Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
(continued)

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

302,798

337,045

Trade creditors

 

538,600

596,679

Taxation and social security

 

123,873

104,532

Accruals and deferred income

 

152,550

144,646

Other creditors

 

27,441

22,343

 

1,145,262

1,205,245

Creditors include bank loans and net obligations under finance lease and hire purchase contracts which are secured of £302,798 (2023 - £337,045).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

578,065

590,026

Creditors include bank loans and net obligations under finance lease and hire purchase contracts which are secured of £578,065 (2023 - £590,026).

Creditors include bank loans repayable by instalments of £92,363 (2023 - £98,123) due after more than five years.

 

Arthur Oakley Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
(continued)

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

603

603

603

603

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

357,480

402,799

Hire purchase contracts

220,585

187,227

578,065

590,026

Current loans and borrowings

2024
£

2023
£

Bank borrowings

53,983

145,612

Hire purchase contracts

248,815

191,433

302,798

337,045