Company registration number SC350667 (Scotland)
Innes Transport Limited
Unaudited financial statements
for the year ended 31 October 2024
Pages for filing with registrar
Innes Transport Limited
Chartered Accountants' report to the board of directors on the preparation of the
unaudited statutory financial statements of Innes Transport Limited
1
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Innes Transport Limited for the year ended 31 October 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020.
This report is made solely to the board of directors of Innes Transport Limited, as a body, in accordance with the terms of our engagement letter dated 2 December 2010. Our work has been undertaken solely to prepare for your approval the financial statements of Innes Transport Limited and state those matters that we have agreed to state to the board of directors of Innes Transport Limited, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Innes Transport Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Innes Transport Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Innes Transport Limited. You consider that Innes Transport Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Innes Transport Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
James Milne
Chartered Accountants
5 Bon Accord Square
Aberdeen
AB11 6XZ
27 June 2025
Innes Transport Limited
Balance sheet
as at 31 October 2024
2
2024
2023
Notes
£
£
£
£
Current assets
Debtors
80
160
Cash at bank and in hand
1,145
336
1,225
496
Creditors: amounts falling due within one year
(6,186)
(4,943)
Net current liabilities
(4,961)
(4,447)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(4,963)
(4,449)
Total equity
(4,961)
(4,447)
For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on
25 June 2025
25 June 2025
and are signed on its behalf by:
James Innes
Director
Company registration number SC350667 (Scotland)
Innes Transport Limited
Notes to the financial statements
for the year ended 31 October 2024
3
1
Accounting policies
Company information
Innes Transport Limited is a private company limited by shares incorporated in Scotland. The registered office is 6 Bon Accord Square, Aberdeen, AB11 6XU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
2
Going concern
The company has a deficiency of assets of £4,961, however included in liabilities is the sum of £6,186 owed to the director. The director has confirmed that he will not seek payment of this amount for as long as necessary to ensure the ongoing viability of the company. The director therefore considers it appropriate for the accounts to be prepared on a going concern basis.