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Registered number: 02867673
M & S HAULIERS LIMITED
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 02867673
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1 1
Tangible Assets 5 137,615 168,847
137,616 168,848
CURRENT ASSETS
Stocks 6 4,765 3,063
Debtors 7 25,140 122,425
Cash at bank and in hand 123,009 102,389
152,914 227,877
Creditors: Amounts Falling Due Within One Year 8 (174,853 ) (260,427 )
NET CURRENT ASSETS (LIABILITIES) (21,939 ) (32,550 )
TOTAL ASSETS LESS CURRENT LIABILITIES 115,677 136,298
PROVISIONS FOR LIABILITIES
Deferred Taxation (34,404 ) (32,081 )
NET ASSETS 81,273 104,217
CAPITAL AND RESERVES
Called up share capital 9 5 5
Income Statement 81,268 104,212
SHAREHOLDERS' FUNDS 81,273 104,217
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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 Income Statement.
On behalf of the board
Mr M Beaver
Director
03/09/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
M & S HAULIERS LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 02867673 . The registered office is One Courtenay Park, Newton Abbot, Devon, TQ12 2HD.
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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of 5 years.
2.4. 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 10% Straight Line
Office Equipment 25% Straight Line
2.5. Stocks and Work in Progress
Stocks is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 
2.6. Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments.  An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
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2.7. 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.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
2.9. 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 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 in finance costs in profit or loss in the period it arises.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2024: 4)
3 4
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4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 9,000
As at 31 March 2025 9,000
Amortisation
As at 1 April 2024 8,999
As at 31 March 2025 8,999
Net Book Value
As at 31 March 2025 1
As at 1 April 2024 1
5. Tangible Assets
Plant & Machinery Office Equipment Total
£ £ £
Cost
As at 1 April 2024 402,378 1,186 403,564
Additions 38,618 - 38,618
Disposals (120,480 ) - (120,480 )
As at 31 March 2025 320,516 1,186 321,702
Depreciation
As at 1 April 2024 233,536 1,181 234,717
Provided during the period 28,681 - 28,681
Disposals (79,311 ) - (79,311 )
As at 31 March 2025 182,906 1,181 184,087
Net Book Value
As at 31 March 2025 137,610 5 137,615
As at 1 April 2024 168,842 5 168,847
6. Stocks
2025 2024
£ £
Stock 4,765 3,063
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7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 23,001 120,868
Prepayments and accrued income 1,939 1,557
Other debtors 200 -
25,140 122,425
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 7,982 28,910
Corporation tax 16,818 7,384
Other taxes and social security 235 238
VAT 1,955 14,572
Other creditors 34 111
Accruals and deferred income 2,250 2,150
Director's loan account 145,579 167,062
Payments on account - 40,000
174,853 260,427
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 5 5
10. Related Party Transactions
During the year the company entered into the following transactions with related parties:
The following dividends were paid to related parties during the year:
Mr M Beaver - £40,000       
Mrs B Beaver (Spouse of Mr M Beaver) - £10,000
11. Controlling Party
The Company is under the effective control of its director.
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