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COMPANY REGISTRATION NUMBER: 03883512
Halls Transport Limited
Unaudited financial statements
30 November 2024
Halls Transport Limited
Statement of financial position
30 November 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
414,601
364,597
Current assets
Debtors
6
784,743
718,921
Cash at bank and in hand
149,785
316,234
---------
-----------
934,528
1,035,155
Creditors: Amounts falling due within one year
7
( 80,214)
( 197,579)
---------
-----------
Net current assets
854,314
837,576
-----------
-----------
Total assets less current liabilities
1,268,915
1,202,173
Provisions
Taxation including deferred tax
( 10,614)
3,587
-----------
-----------
Net assets
1,258,301
1,205,760
-----------
-----------
Capital and reserves
Called up share capital
10,000
10,000
Profit and loss account
1,248,301
1,195,760
-----------
-----------
Shareholders funds
1,258,301
1,205,760
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Halls Transport Limited
Statement of financial position (continued)
30 November 2024
These financial statements were approved by the board of directors and authorised for issue on 4 July 2025 , and are signed on behalf of the board by:
K E Garrod
Director
Company registration number: 03883512
Halls Transport Limited
Notes to the financial statements
Year ended 30 November 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is First Floor Suite, 2 Hillside Business Park, Bury St Edmunds, Suffolk, IP32 7EA. The trading address of the company is Halls Yard, Black Bank Road, Little Downham, Ely, Cambridgeshire, CB6 2TZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of services is recognised when the significant risks and rewards of ownership of the services have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Workshop
-
2% straight line
Plant & machinery
-
20% reducing balance
Office equipment
-
25% straight line
Motor vehicles
-
25% reducing balance
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of employees during the year was 3 (2023: 3 ).
5. Tangible assets
Workshop
Plant and machinery
Office equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 December 2023
407,675
120,974
16,856
139,499
685,004
Additions
63,212
63,212
---------
---------
-------
---------
---------
At 30 November 2024
470,887
120,974
16,856
139,499
748,216
---------
---------
-------
---------
---------
Depreciation
At 1 December 2023
63,453
106,579
13,973
136,402
320,407
Charge for the year
8,443
2,894
1,097
774
13,208
---------
---------
-------
---------
---------
At 30 November 2024
71,896
109,473
15,070
137,176
333,615
---------
---------
-------
---------
---------
Carrying amount
At 30 November 2024
398,991
11,501
1,786
2,323
414,601
---------
---------
-------
---------
---------
At 30 November 2023
344,222
14,395
2,883
3,097
364,597
---------
---------
-------
---------
---------
6. Debtors
2024
2023
£
£
Trade debtors
16,804
15,227
Other debtors
767,939
703,694
---------
---------
784,743
718,921
---------
---------
The debtors above include the following amounts falling due after more than one year:
2024
2023
£
£
Other debtors
151,378
136,266
---------
---------
7. Creditors: Amounts falling due within one year
2024
2023
£
£
Trade creditors
9,152
8,973
Social security and other taxes
57,000
173,264
Other creditors
14,062
15,342
-------
---------
80,214
197,579
-------
---------
8. Directors' advances, credits and guarantees
Included within debtors at the year end are directors' loan accounts totalling £448,526 (2023: £403,750). The maximum overdrawn balance during the year was £448,526. Interest of £9,776 was charged at the official rate.