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COMPANY REGISTRATION NUMBER: 3916992
Heysham Trucks Ltd
Filleted Unaudited Abridged Financial Statements
For the year to
31 March 2025
Heysham Trucks Ltd
Abridged Statement of Financial Position
31 March 2025
2025
2024
Note
£
£
£
Fixed assets
Tangible assets
7
791,619
726,089
Current assets
Stocks
3,000
3,000
Debtors
8
190,565
234,780
Cash at bank and in hand
51,628
46,471
---------
---------
245,193
284,251
Creditors: amounts falling due within one year
9
202,860
197,652
---------
---------
Net current assets
42,333
86,599
---------
---------
Total assets less current liabilities
833,952
812,688
Creditors: amounts falling due after more than one year
10
256,053
270,694
Provisions
Taxation including deferred tax
36,418
27,338
---------
---------
Net assets
541,481
514,656
---------
---------
Capital and reserves
Called up share capital
101
101
Profit and loss account
541,380
514,555
---------
---------
Shareholders funds
541,481
514,656
---------
---------
These abridged 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 abridged statement of income and retained earnings has not been delivered.
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.
Heysham Trucks Ltd
Abridged Statement of Financial Position (continued)
31 March 2025
These abridged financial statements were approved by the board of directors and authorised for issue on 25 July 2025 , and are signed on behalf of the board by:
Mr D Moody
Director
Company registration number: 3916992
Heysham Trucks Ltd
Notes to the Abridged Financial Statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 8 Robin Crescent, Heysham, Morecambe, Lancs, LA3 2WG.
2. Statement of compliance
These abridged 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 abridged 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 abridged 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 for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership 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:
Plant and equipment
-
15% reducing balance
Office equipment
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2024: 7 ).
5. Tax on profit
Major components of tax expense
2025
2024
£
£
Current tax:
UK current tax expense
18,751
41,203
Deferred tax:
Origination and reversal of timing differences
9,079
4,743
--------
--------
Tax on profit
27,830
45,946
--------
--------
6. Dividends
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):
2025
2024
£
£
Equity dividends on Ordinary A shares
45,000
45,000
--------
--------
7. Tangible assets
£
Cost
At 1 April 2024
977,883
Additions
105,816
Disposals
( 57,920)
------------
At 31 March 2025
1,025,779
------------
Depreciation
At 1 April 2024
251,794
Charge for the year
36,322
Disposals
( 53,956)
------------
At 31 March 2025
234,160
------------
Carrying amount
At 31 March 2025
791,619
------------
At 31 March 2024
726,089
------------
8. Debtors
2025
2024
£
£
Trade debtors
163,952
218,346
Prepayments and accrued income
6,598
1,315
Director's loan account
17,421
6,806
ACT recoverable
1,594
3,596
Other debtors
1,000
4,717
---------
---------
190,565
234,780
---------
---------
9. Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
40,100
36,200
Trade creditors
70,968
84,639
Accruals and deferred income
5,886
4,895
Corporation tax
39,049
42,913
Social security and other taxes
18,716
21,346
Obligations under finance leases and hire purchase contracts
11,113
Other creditors
17,028
7,659
---------
---------
202,860
197,652
---------
---------
10. Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
230,123
270,694
Obligations under finance leases and hire purchase contracts
25,930
---------
---------
256,053
270,694
---------
---------
11. Director's advances, credits and guarantees
As at the 31st March 2025 the director had a loan account of £17,421 (2024 £6,086). Interest is charged on this loan at the beneficial loan interest rate.