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Registration number: 11197182

DM Briggs Transport Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

DM Briggs Transport Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 15

 

DM Briggs Transport Ltd

Company Information

Directors

Darren Briggs

Nicola Briggs

Jay Briggs

Registered office

H2 Unit F
Dawkins Road
Poole
Dorset
BH15 4JY

Accountants

DNA Accountancy Services Ltd
Chartered Accountant
24 The Mallards,
Totton
Southampton
SO40 3FQ

 

DM Briggs Transport Ltd

Directors' Report for the Year Ended 30 June 2024

The directors present their report and the financial statements for the year ended 30 June 2024.

Directors of the company

The directors who held office during the year were as follows:

Darren Briggs

Nicola Briggs

Jay Briggs (appointed 28 November 2023)

Bethany Briggs (appointed 28 November 2023 and ceased 8 May 2024)

Principal activity

The principal activity of the company is Freight haulage by road

Going concern

The directors have assessed the company's ability to continue as a going concern and believe, based on the available information, that the company has adequate resources to meet its financial obligations for the foreseeable future and therefore, the financial statements have been prepared on a going concern basis.

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 27 June 2025 and signed on its behalf by:
 

.........................................
Nicola Briggs
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
DM Briggs Transport Ltd
for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of DM Briggs Transport Ltd for the year ended 30 June 2024 as set out on pages 4 to 15 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of DM Briggs Transport Ltd, as a body, in accordance with the terms of our engagement letter dated 17 March 2019. Our work has been undertaken solely to prepare for your approval the accounts of DM Briggs Transport Ltd and state those matters that we have agreed to state to the Board of Directors of DM Briggs Transport Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DM Briggs Transport Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that DM Briggs Transport Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of DM Briggs Transport Ltd. You consider that DM Briggs Transport Ltd 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 accounts of DM Briggs Transport Ltd. 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 accounts.

......................................

DNA Accountancy Services Ltd
Chartered Accountant
24 The Mallards,
Totton
Southampton
SO40 3FQ

27 June 2025

 

DM Briggs Transport Ltd

Profit and Loss Account for the Year Ended 30 June 2024

Note

2024
£

(As restated)

2023
£

Turnover

 

1,403,593

1,216,727

Cost of sales

 

(1,142,298)

(919,657)

Gross profit

 

261,295

297,070

Administrative expenses

 

(293,514)

(246,521)

Other operating income

 

2,102

-

Operating (loss)/profit

 

(30,117)

50,549

Interest payable and similar expenses

 

(66,399)

(47,240)

(Loss)/profit before tax

4

(96,516)

3,309

(Loss)/profit for the financial year

 

(96,516)

3,309

The above results were derived from continuing operations.

 

DM Briggs Transport Ltd

Statement of Comprehensive Income for the Year Ended 30 June 2024

2024
£

(As restated)

2023
£

(Loss)/profit for the year

(96,516)

3,309

Surplus on property, plant and equipment revaluation

-

29,829

Deficit on revaluation of other assets

-

(29,829)

-

-

Total comprehensive income for the year

(96,516)

3,309

 

DM Briggs Transport Ltd

(Registration number: 11197182)
Balance Sheet as at 30 June 2024

Note

2024
£

(As restated)

2023
£

Fixed assets

 

Tangible assets

6

903,283

874,263

Current assets

 

Debtors

7

231,571

194,953

Cash at bank and in hand

 

201

28,650

 

231,772

223,603

Creditors: Amounts falling due within one year

8

(549,610)

(435,539)

Net current liabilities

 

(317,838)

(211,936)

Total assets less current liabilities

 

585,445

662,327

Creditors: Amounts falling due after more than one year

8

(583,463)

(519,953)

Net assets

 

1,982

142,374

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

1,882

142,274

Shareholders' funds

 

1,982

142,374

For the financial year ending 30 June 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 27 June 2025 and signed on its behalf by:
 

.........................................
Nicola Briggs
Director

 

DM Briggs Transport Ltd

Statement of Changes in Equity for the Year Ended 30 June 2024

Share capital
£

Profit and loss account
£

Total
£

At 1 July 2023

100

142,274

142,374

Loss for the year

-

(96,516)

(96,516)

Dividends

-

(43,876)

(43,876)

At 30 June 2024

100

1,882

1,982

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 July 2022

100

29,829

150,636

180,565

Profit for the year

-

-

3,309

3,309

Revaluation assets

-

(29,829)

29,829

-

Total comprehensive income

-

(29,829)

33,138

3,309

Dividends

-

-

(41,500)

(41,500)

At 30 June 2023

100

-

142,274

142,374

 

DM Briggs Transport Ltd

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

1

General information

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

The address of its registered office is:
H2 Unit F
Dawkins Road
Poole
Dorset
BH15 4JY
Engalnd

These financial statements were authorised for issue by the Board on 27 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.

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.

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.

 

DM Briggs Transport Ltd

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

Depreciation

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

Asset class

Depreciation method and rate

Vehicles

36 to 60 Months straight line

Office equipmrny

25% Reducing balance

Equipment

25% Reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwil

Straight line over 4 years

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.

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

 

DM Briggs Transport Ltd

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

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.

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 17 (2023 - 15).

 

DM Briggs Transport Ltd

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

4

Loss/profit before tax

Arrived at after charging/(crediting)

2024
£

(As restated)

2023
£

Depreciation expense

125,129

135,344

Amortisation expense

-

2,400

 

DM Briggs Transport Ltd

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

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2023

12,000

12,000

At 30 June 2024

12,000

12,000

Amortisation

At 1 July 2023

12,000

12,000

At 30 June 2024

12,000

12,000

Carrying amount

At 30 June 2024

-

-

6

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

3,222

4,494

1,177,842

1,185,558

Additions

-

-

391,852

391,852

Disposals

-

-

(457,011)

(457,011)

At 30 June 2024

3,222

4,494

1,112,683

1,120,399

Depreciation

At 1 July 2023

1,850

3,778

305,667

311,295

Charge for the year

-

441

124,688

125,129

Eliminated on disposal

-

-

(219,308)

(219,308)

At 30 June 2024

1,850

4,219

211,047

217,116

Carrying amount

At 30 June 2024

1,372

275

901,636

903,283

At 30 June 2023

1,372

716

872,175

874,263

7

Debtors

Current

2024
£

2023
£

Trade debtors

231,571

194,953

 

231,571

194,953

 

DM Briggs Transport Ltd

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11

464,730

374,147

Trade creditors

 

21,615

-

Taxation and social security

 

25,395

21,645

Other creditors

 

37,870

39,747

 

549,610

435,539

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

583,463

519,953

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

10

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Retained earnings
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

-

29,829

29,829

Surplus/deficit on revaluation of other assets

(29,829)

-

(29,829)

(29,829)

29,829

-

 

DM Briggs Transport Ltd

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

11

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

81,329

35,834

Finance lease liabilities

491,634

484,119

Other borrowings

10,500

-

583,463

519,953

Current loans and borrowings

2024
£

2023
£

Bank borrowings

52,484

54,305

Bank overdrafts

2,165

-

Finance lease liabilities

170,887

258,847

Other borrowings

239,194

60,995

464,730

374,147

12

Dividends

2024

2023

£

£

Interim dividend of £43,876.00 (2023 - £41,500.00)

43,876

41,500

 

 

13

Related party transactions

The amounts due from the directors do not include any fixed terms as to repayment or interest; they will endeavour to repay the account as soon as possible.

 

DM Briggs Transport Ltd

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

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

25,140

13,650