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Registration number: 01953555

Goodalls Transport Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Goodalls Transport Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Goodalls Transport Limited

(Registration number: 01953555)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

           

Fixed assets

   

 

Tangible assets

4

 

1,260,972

 

1,248,141

Current assets

   

 

Debtors

5

1,164,070

 

985,385

 

Creditors: Amounts falling due within one year

6

(1,542,576)

 

(1,537,699)

 

Net current liabilities

   

(378,506)

 

(552,314)

Total assets less current liabilities

   

882,466

 

695,827

Creditors: Amounts falling due after more than one year

6

 

(283,268)

 

(224,925)

Provisions for liabilities

 

(114,000)

 

(94,000)

Net assets

   

485,198

 

376,902

Capital and reserves

   

 

Called up share capital

8

186

 

186

 

Other reserves

6

 

6

 

Retained earnings

485,006

 

376,710

 

Shareholders' funds

   

485,198

 

376,902

 

Goodalls Transport Limited

(Registration number: 01953555)
Balance Sheet as at 31 March 2025

For the financial 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 June 2025
 

.........................................
S L Hanson
Director

 

Goodalls Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

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

The address of its registered office is:
Walton Street
Sowerby Bridge
HX6 1AN

These financial statements were authorised for issue by the director on 23 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including the disclosure and presentation requirements of Section 1A and the Companies Act 2006.

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.

The company's functional and presentation currency is pound sterling.

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.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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.

 

Goodalls Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

10 and 20% straight basis

Furniture, fittings and equipment

15% reducing balance basis

Leasehold improvements

The term of the lease

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.

 

Goodalls Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Financial instruments

Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

 

3

Staff numbers

The average number of persons employed during the year (including the director) was 54 (2024 - 55).

 

Goodalls Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2024

88,216

70,736

3,837,299

3,996,251

Additions

-

3,500

211,200

214,700

Disposals

-

-

(260,571)

(260,571)

At 31 March 2025

88,216

74,236

3,787,928

3,950,380

Depreciation

At 1 April 2024

88,216

58,614

2,601,280

2,748,110

Charge for the year

-

2,358

169,050

171,408

Eliminated on disposal

-

-

(230,110)

(230,110)

At 31 March 2025

88,216

60,972

2,540,220

2,689,408

Carrying amount

At 31 March 2025

-

13,264

1,247,708

1,260,972

At 31 March 2024

-

12,122

1,236,019

1,248,141

5

Debtors

Current

2025
£

2024
£

Trade debtors

994,812

874,061

Prepayments

153,503

95,257

Other debtors

15,755

16,067

 

1,164,070

985,385

6

Creditors

2025
£

2024
£

Due within one year

Loans and borrowings

137,374

308,654

Trade creditors

318,463

265,067

Taxation and social security

317,334

292,455

Accruals and deferred income

22,694

38,453

Other creditors

746,711

633,070

1,542,576

1,537,699

 

Goodalls Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Bank loans and overdrafts are secured by a fixed and floating charge over the assets of the company. Finance lease creditors are secured on the assets to which they relate. The aggregate amount of secured liabilities is £915,722 (2024 - £968,589).

2025
£

2024
£

Due after one year

Loans and borrowings

283,268

224,925

7

Related party transactions

2024

At 1 April 2023
£

Repayments by director
£

Written off
£

At 31 March 2024
£

Directors loan account

77,320

(47,132)

(30,188)

-

         
     

 

Expenditure with and payables to related parties

2025

Key management
£

Amounts payable to related party

60,471

2024

Key management
£

Amounts payable to related party

33,317

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

Ordinary A shares of £1 each

72

72

72

72

Ordinary C shares of £1 each

8

8

8

8

Ordinary D shares of £1 each

6

6

6

6

186

186

186

186