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Registration number: 02525856

West House Transport (S&G) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

Pages for filing with Registrar

 

West House Transport (S&G) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

West House Transport (S&G) Limited

Company Information

Directors

M J Bleach

T J Moseley

W E Palmer

K P Young

Registered office

20 Whitehouse Street
Bedminster
Bristol
BS3 4AY

Registered number

02525856

Accountant

Corrigan Accountants Limited 1st Floor
25 King Street
Bristol
BS1 4PB

 

West House Transport (S&G) Limited

(Registration number: 02525856)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

504,736

540,545

Current assets

 

Stocks

4,653

22,083

Debtors

6

559,230

748,275

Cash at bank and in hand

 

762,051

492,219

 

1,325,934

1,262,577

Creditors: Amounts falling due within one year

7

(669,642)

(488,295)

Net current assets

 

656,292

774,282

Total assets less current liabilities

 

1,161,028

1,314,827

Creditors: Amounts falling due after more than one year

7

(190,034)

(163,948)

Provisions for liabilities

8

(438,346)

(575,160)

Net assets

 

532,648

575,719

Capital and reserves

 

Called up share capital

9

16,000

16,000

Capital redemption reserve

34,000

34,000

Retained earnings

482,648

525,719

Shareholders' funds

 

532,648

575,719

 

West House Transport (S&G) Limited

(Registration number: 02525856)
Balance Sheet as at 30 September 2024

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:

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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been prepared and 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 for issue by the Board on 26 June 2025 and signed on its behalf by:
 




M J Bleach
Director

 

West House Transport (S&G) Limited

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

1

Statutory information

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

The address of its registered office is:
20 Whitehouse Street
Bedminster
Bristol
BS3 4AY

2

Accounting policies

Summary of significant accounting policies

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The directors have considered the future performance of the company and believe that the company has adequate financial resources to continue operational existence for the foreseeable future. Accordingly, the directors have prepared the accounts on the going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

Government grants

The grant received relates to capital expenditure and will be released to the profit and loss account over the economic life of the asset.

 

West House Transport (S&G) Limited

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

Tax

The tax expense for the period comprises current and 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.

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.


Deferred tax
Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.

A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable tax profits from which the future reversal of the underlying timing difference can be deducted.

Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.

Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

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

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

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Short leasehold property

Over the period of the lease

Plant & machinery

50% straight line

Motor vehicles

35% - 40% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand.

Trade debtors

Trade debtors are recognised initially at the transaction price. They are subsequently measured at cost 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.

 

West House Transport (S&G) Limited

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

Trade creditors

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.

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.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Profit and Loss account in the year that the company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are actually made, they are charged to the provision carried in the Balance Sheet.

Leases

Payments made under operating leases are charged to profit and loss on a straight-line basis over the period of the lease. 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.

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.

 

West House Transport (S&G) Limited

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

Dividends

Dividend distributions to the company’s shareholders are 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.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense in the period in which the employees' services are received.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 54 (2023 - 56).

 

West House Transport (S&G) Limited

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

4

Taxation

Deferred tax

Deferred tax assets and liabilities

2024

Liability
£

Fixed asset timing differences

33,500

33,500

2023

Liability
£

Fixed asset timing differences

124,000

Tax losses

(63,000)

Other short term timing differences

(10,000)

51,000

 

West House Transport (S&G) Limited

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

5

Tangible fixed assets

Leasehold property
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost

At 1 October 2023

230,000

985,448

87,563

1,303,011

Additions

-

303,014

-

303,014

Disposals

-

(283,380)

(30,500)

(313,880)

At 30 September 2024

230,000

1,005,082

57,063

1,292,145

Depreciation

At 1 October 2023

218,558

456,784

87,124

762,466

Charge for the year

7,884

308,529

439

316,852

Eliminated on disposal

-

(261,409)

(30,500)

(291,909)

At 30 September 2024

226,442

503,904

57,063

787,409

Carrying amount

At 30 September 2024

3,558

501,178

-

504,736

At 30 September 2023

11,442

528,664

439

540,545

Included within the net book value of motor vehicles above is £367,940 (2023: £282,846) held under hire purchase agreements.

 

West House Transport (S&G) Limited

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

6

Debtors: amounts falling due within one year

2024
£

2023
£

Trade debtors

456,771

609,747

Other debtors

4,500

17,654

Prepayments

97,959

102,308

Corporation tax

-

18,566

559,230

748,275

7

Creditors

2024
£

2023
£

Amounts falling due within one year

HP and finance lease liability

167,964

85,007

Trade creditors

179,923

171,086

Taxation and social security

164,849

96,499

Other creditors

30,628

37,438

Accruals and deferred income

115,878

82,265

Government grants

10,400

16,000

669,642

488,295

Due after one year

HP and finance lease liability

190,034

163,948

190,034

163,948

 

West House Transport (S&G) Limited

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

8

Provisions for liabilities

Deferred tax
£

Other provisions
£

Total
£

At 1 October 2023

51,000

524,160

575,160

Decrease in existing provisions

(17,500)

(119,314)

(136,814)

At 30 September 2024

33,500

404,846

438,346

The other provisions relate to the anticipated costs of remedial work needed to return the current premises to the condition required in the lease, in addition to provisions in relation to onerous lease contracts.

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

16,000

16,000

16,000

16,000

         

10

Obligations under leases and hire purchase contracts

Operating leases

2024
£

2023
£

The total of future minimum lease payments is as follows:

491,787

558,167

The amount of non-cancellable operating lease payments recognised as an expense during the year was £73,593 (2023 - £75,017).