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Registered number: 05080998
Loadmasters Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 05080998
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 65,069 59,195
65,069 59,195
CURRENT ASSETS
Debtors 5 133,515 162,341
Cash at bank and in hand 219,559 127,957
353,074 290,298
Creditors: Amounts Falling Due Within One Year 6 (107,493 ) (105,527 )
NET CURRENT ASSETS (LIABILITIES) 245,581 184,771
TOTAL ASSETS LESS CURRENT LIABILITIES 310,650 243,966
PROVISIONS FOR LIABILITIES
Deferred Taxation (8,445 ) -
NET ASSETS 302,205 243,966
CAPITAL AND RESERVES
Called up share capital 7 200 200
Profit and Loss Account 302,005 243,766
SHAREHOLDERS' FUNDS 302,205 243,966
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
P J Baker
Director
02/07/2025
The notes on pages 2 to 4 form part of these financial statements.
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Page 2
Notes to the Financial Statements
1. General Information
Loadmasters Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05080998 . The registered office is 4 Weyside Park, Newman Lane, Alton, Hampshire, GU34 2PJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, adjusted for deferred income, excluding discounts, rebates, value added tax and other sales taxes. Revenue is recognised in the month in which the right to consideration arises.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Straight Line
Motor Vehicles 25% Straight Line
Computer Equipment 20% Straight Line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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2.7. Pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
2.8. Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
2.9. Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty or notice of not more than 24 hours.
2.10. Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2024: 7)
7 7
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2024 118,782 61,957 7,256 187,995
Additions 20,907 13,701 1,450 36,058
Disposals - (9,995 ) - (9,995 )
As at 31 March 2025 139,689 65,663 8,706 214,058
Depreciation
As at 1 April 2024 93,098 30,112 5,590 128,800
Provided during the period 13,066 15,957 1,161 30,184
Disposals - (9,995 ) - (9,995 )
As at 31 March 2025 106,164 36,074 6,751 148,989
Net Book Value
As at 31 March 2025 33,525 29,589 1,955 65,069
As at 1 April 2024 25,684 31,845 1,666 59,195
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 103,756 122,754
Prepayments and accrued income 23,909 24,744
Other debtors 5,850 8,850
Deferred tax current asset - 5,608
Director's loan account - 385
133,515 162,341
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6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 25,830 29,010
Corporation tax 31,039 25,969
Other taxes and social security 9,642 11,817
VAT 19,732 17,656
Accruals and deferred income 2,340 2,250
Director's loan account 85 -
Amounts owed to group undertakings 18,825 18,825
107,493 105,527
7. Share Capital
2025 2024
Allotted, called up and fully paid £ £
200 Ordinary Shares of £ 1.00 each 200 200
8. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2025 2024
£ £
Not later than one year - 6,720
- 6,720
9. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. No contributions were payable at the balance sheet date.
10. Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
11. Related Party Transactions
At the Balance Sheet date the company owed £85 to the directors (2024: the company was owed £385 from the directors).
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