Registered number
09295102
M & E Transport (South West) Limited
Filleted Accounts
31 March 2025
M & E Transport (South West) Limited
Registered number: 09295102
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 4 426,695 360,099
Current assets
Debtors 5 58,301 143,574
Cash at bank and in hand 151,527 53,032
209,828 196,606
Creditors: amounts falling due within one year 6 (71,583) (213,040)
Net current assets/(liabilities) 138,245 (16,434)
Total assets less current liabilities 564,940 343,665
Creditors: amounts falling due after more than one year 7 (151,133) -
Provisions for liabilities (77,713) (64,393)
Net assets 336,094 279,272
Capital and reserves
Called up share capital 2 2
Profit and loss account 336,092 279,270
Shareholders' funds 336,094 279,272
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 members have 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.
M J Smart
Director
Approved by the board on 16 June 2025
M & E Transport (South West) Limited
Notes to the Accounts
for the year ended 31 March 2025
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery 25% on a reducing balance basis.
Fixtures, fittings, tools and equipment 25% on a reducing balance basis.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2024 40,000
At 31 March 2025 40,000
Amortisation
At 1 April 2024 40,000
At 31 March 2025 40,000
Net book value
At 31 March 2025 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.The goodwill was acquired from M & E Transport, a partnership previously run by Mr & Mrs Smart.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2024 38,133 5,616 590,945 634,694
Additions - - 221,183 221,183
Disposals - - (221,172) (221,172)
At 31 March 2025 38,133 5,616 590,956 634,705
Depreciation
At 1 April 2024 - 3,886 270,709 274,595
Charge for the year - 434 60,957 61,391
On disposals - - (127,976) (127,976)
At 31 March 2025 - 4,320 203,690 208,010
Net book value
At 31 March 2025 38,133 1,296 387,266 426,695
At 31 March 2024 38,133 1,730 320,236 360,099
5 Debtors 2025 2024
£ £
Trade debtors 58,301 138,574
Other debtors - 5,000
58,301 143,574
6 Creditors: amounts falling due within one year 2025 2024
£ £
Obligations under finance lease and hire purchase contracts 43,700 120,833
Trade creditors 20,661 95,024
Taxation and social security costs (12,966) (13,702)
Other creditors 20,188 10,885
71,583 213,040
7 Creditors: amounts falling due after one year 2025 2024
£ £
Obligations under finance lease and hire purchase contracts 151,133 -
8 Controlling party
Mr Matthew Smart and Mrs Emma Smart, Directors, have the controlling interest by way of owning 100% of the share holding.
9 Other information
M & E Transport (South West) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 4B
Winford Business Park
Winford
Bristol
BS40 8HJ
M & E Transport (South West) Limited 09295102 false 2024-04-01 2025-03-31 2025-03-31 VT Final Accounts April 2025 M J Smart No description of principal activity 09295102 2023-04-01 2024-03-31 09295102 core:WithinOneYear 2024-03-31 09295102 core:AfterOneYear 2024-03-31 09295102 core:ShareCapital 2024-03-31 09295102 core:RetainedEarningsAccumulatedLosses 2024-03-31 09295102 2024-04-01 2025-03-31 09295102 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 09295102 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 09295102 bus:Director40 2024-04-01 2025-03-31 09295102 1 2024-04-01 2025-03-31 09295102 2 2024-04-01 2025-03-31 09295102 core:LandBuildings 2024-04-01 2025-03-31 09295102 core:PlantMachinery 2024-04-01 2025-03-31 09295102 core:Vehicles 2024-04-01 2025-03-31 09295102 countries:England 2024-04-01 2025-03-31 09295102 bus:FRS102 2024-04-01 2025-03-31 09295102 bus:FilletedAccounts 2024-04-01 2025-03-31 09295102 2025-03-31 09295102 core:WithinOneYear 2025-03-31 09295102 core:AfterOneYear 2025-03-31 09295102 core:ShareCapital 2025-03-31 09295102 core:RetainedEarningsAccumulatedLosses 2025-03-31 09295102 core:Goodwill 2025-03-31 09295102 core:LandBuildings 2025-03-31 09295102 core:PlantMachinery 2025-03-31 09295102 core:Vehicles 2025-03-31 09295102 2024-03-31 09295102 core:Goodwill 2024-03-31 09295102 core:LandBuildings 2024-03-31 09295102 core:PlantMachinery 2024-03-31 09295102 core:Vehicles 2024-03-31 iso4217:GBP xbrli:pure