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REGISTERED NUMBER: 01495062 (England and Wales)















JOHN MCCARTHY TRANSPORT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH NOVEMBER 2024






JOHN MCCARTHY TRANSPORT LIMITED (REGISTERED NUMBER: 01495062)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


JOHN MCCARTHY TRANSPORT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH NOVEMBER 2024







DIRECTORS: J G McCarthy
E J McCarthy
D S McCarthy





SECRETARY: D S McCarthy





REGISTERED OFFICE: Unit 46A Heol Morfa
Village Farm Industrial Est
Pyle
Bridgend
Mid Glamorgan
CF33 6BP





REGISTERED NUMBER: 01495062 (England and Wales)






JOHN MCCARTHY TRANSPORT LIMITED (REGISTERED NUMBER: 01495062)

BALANCE SHEET
30TH NOVEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,244,004 755,664

CURRENT ASSETS
Stocks 25,000 25,000
Debtors 5 2,894,548 1,829,960
Cash at bank and in hand 87,584 231,185
3,007,132 2,086,145
CREDITORS
Amounts falling due within one year 6 843,234 559,077
NET CURRENT ASSETS 2,163,898 1,527,068
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,407,902

2,282,732

CREDITORS
Amounts falling due after more than one
year

7

(464,596

)

(68,276

)

PROVISIONS FOR LIABILITIES 8 (203,748 ) (128,455 )
NET ASSETS 2,739,558 2,086,001

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 2,739,554 2,085,997
2,739,558 2,086,001

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

JOHN MCCARTHY TRANSPORT LIMITED (REGISTERED NUMBER: 01495062)

BALANCE SHEET - continued
30TH NOVEMBER 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22nd August 2025 and were signed on its behalf by:





J G McCarthy - Director


JOHN MCCARTHY TRANSPORT LIMITED (REGISTERED NUMBER: 01495062)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2024

1. STATUTORY INFORMATION

John McCarthy Transport Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements, estimates and
assumptions that affect the amounts reported for assets and liabilities as at the statement of financial position date and the amounts reported for revenues and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those estimates.

Recoverability of debtors
Estimation is involved in the assessment of the recoverability of debtors and the calculation of the associated
bad debt provision. Factors such as the age of the debt, prior experience and recoverability statistics are included in management's assessment.

Useful economic lives of tangible fixed assets
Tangible fixed assets are depreciated over their useful economic lives taking into account residual values, where appropriate. Management regularly reviews the assets' useful economic lives. Changes in assets' useful economic lives can have a significant impact on depreciation for the period. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Provision for impairments
Tangible fixed assets are reviewed for signs of impairment each year and written down accordingly. All tangible fixed assets are reviewed by management in conjunction with market data and other relevant information. Changes in any of the factors considered for impairments can affect the value reported in the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

JOHN MCCARTHY TRANSPORT LIMITED (REGISTERED NUMBER: 01495062)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks. Debt instruments (other than those wholly repayable or receivable within one year), including loans and account receivables and payables, are initially measured at the transaction price (adjusted for transaction cost) and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangement constitutes a financing transaction, such as a trade debtor or creditor on extended credit terms, initial measurement is at the present value of future cash flows discounted at a market rate of interest. Subsequent measurement is at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is identified, an impairment loss is recognised in the statement of comprehensive income. For financial assets measured at amortised cost, the impairment loss is measured as the difference between carrying amount and the present value of estimated cash flows discounted at the original effective interest rate. If the financial instrument has a variable interest rate the currently effective rate under the contract is used.

A financial asset is derecognised only when the contractual rights to the cash flows from the financial asset expire or are settled or, substantially all of the risks and rewards of ownership of the financial asset have been transferred to another party or when despite having retained some, but not substantially all, risks and rewards of ownership, control of the asset has been transferred to another party and the other party has the practical ability to sell the asset in its entirety to an unrelated third party and is able to exercise that ability unilaterally and without needing to impose additional restrictions on the transfer. In this case, the company derecognises the asset and recognises separately any rights and obligations retained or created in the transfer. A financial liability is derecognised when the contract that gives rise to it is settled, sold, cancelled, or expires. Where an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such as an exchange or modification, this is treated as a derecognition of the original liability, such that the difference in the respective carrying amounts together with any costs or fees incurred are recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

JOHN MCCARTHY TRANSPORT LIMITED (REGISTERED NUMBER: 01495062)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, and deposits held at call with banks.

Going concern
These financial statements have been prepared on a going concern basis on the grounds that the Directors consider that the Company has sufficient cash resources to enable the Company to continue to meet its liabilities as they fall due.

Debtors
Debtors include trade debtors and certain other financial instruments, prepayments, and deferred tax assets. Prepayments are payments made for goods or services that will be received in the future.

Creditors
Creditors include trade creditors and certain other short and long-term financial instruments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 21 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1st December 2023 495,805 45,150 1,441,715 1,982,670
Additions 52,800 2,725 934,070 989,595
Disposals (53,000 ) - (433,979 ) (486,979 )
At 30th November 2024 495,605 47,875 1,941,806 2,485,286
DEPRECIATION
At 1st December 2023 163,401 32,139 1,031,466 1,227,006
Charge for year 54,416 2,807 310,945 368,168
Eliminated on disposal (20,451 ) - (333,441 ) (353,892 )
At 30th November 2024 197,366 34,946 1,008,970 1,241,282
NET BOOK VALUE
At 30th November 2024 298,239 12,929 932,836 1,244,004
At 30th November 2023 332,404 13,011 410,249 755,664

JOHN MCCARTHY TRANSPORT LIMITED (REGISTERED NUMBER: 01495062)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st December 2023 243,971 1,294,859 1,538,830
Additions - 905,170 905,170
Disposals (53,000 ) (433,979 ) (486,979 )
Transfer to ownership 119,379 - 119,379
At 30th November 2024 310,350 1,766,050 2,076,400
DEPRECIATION
At 1st December 2023 113,124 935,828 1,048,952
Charge for year 32,651 290,982 323,633
Eliminated on disposal (20,451 ) (333,441 ) (353,892 )
At 30th November 2024 125,324 893,369 1,018,693
NET BOOK VALUE
At 30th November 2024 185,026 872,681 1,057,707
At 30th November 2023 130,847 359,031 489,878

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 407,820 422,718
Other debtors 2,486,660 1,407,242
2,894,480 1,829,960

Amounts falling due after more than one year:
Other debtors 68 -

Aggregate amounts 2,894,548 1,829,960

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 395,341 142,107
Trade creditors 301,516 150,949
Taxation and social security 143,377 263,021
Other creditors 3,000 3,000
843,234 559,077

JOHN MCCARTHY TRANSPORT LIMITED (REGISTERED NUMBER: 01495062)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 464,596 68,276

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 203,748 128,455

Deferred
tax
£   
Balance at 1st December 2023 128,455
Provided during year 75,293
Balance at 30th November 2024 203,748

9. RELATED PARTY DISCLOSURES

Included in other debtors is an amount of £2,473,692 (2023 £1,341,089) which is owed by connected parties.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Llyr Limited.

The ultimate controlling party is Llyr Limited.