| Speditrans Limited |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
|
|
| 1 |
Accounting policies |
|
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Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover is derived exclusively from the rendering of services and 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. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
over 5 years |
|
Motor vehicles |
over 4 years |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Loans from the Director who is also the sole shareholder are measured at transaction price at all times. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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|
| 1 |
Accounting policies (cont'd) |
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Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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| 2 |
Employees |
|
|
|
|
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
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| 3 |
Tangible fixed assets |
|
|
|
|
Plant and machinery |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 April 2024 |
38,651 |
|
41,950 |
|
80,601 |
|
At 31 March 2025 |
38,651 |
|
41,950 |
|
80,601 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2024 |
38,651 |
|
41,950 |
|
80,601 |
|
At 31 March 2025 |
38,651 |
|
41,950 |
|
80,601 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2025 |
- |
|
- |
|
- |
|
|
| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
6,968 |
|
1,873 |
|
Deferred tax asset |
|
|
|
|
25,143 |
|
17,048 |
|
Other debtors |
62,777 |
|
105,095 |
|
|
|
|
|
|
94,888 |
|
124,016 |
|
|
|
|
|
|
|
|
|
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Amounts due after more than one year included above |
25,143 |
|
59,417 |
|
|
|
|
|
|
|
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|
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| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade creditors |
6,694 |
|
5,918 |
|
Taxation and social security costs |
505 |
|
- |
|
Other creditors |
134,851 |
|
134,161 |
|
|
|
|
|
|
142,050 |
|
140,079 |
|
|
|
|
|
|
|
|
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| 6 |
Other financial commitments |
2025 |
|
2024 |
| £ |
£ |
|
|
Total future minimum payments under non-cancellable operating lease: |
|
107,397 |
|
5,333 |
|
|
|
|
|
|
|
|
|
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Payable: |
|
|
Not later than one year |
50,000 |
|
5,333 |
|
|
Later than one year and not later than five years |
57,397 |
|
- |
|
|
Lease payments recognised as an expense during the year |
49,027 |
|
24,337 |
|
|
|
|
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| 7 |
Controlling party |
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The ultimate controlling party is Mr P A Butler by virtue of his ownership of the entire share capital of the Company. |
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| 8 |
Other information |
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Speditrans Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Spedition House |
|
The Old Tilmanstone Colliery |
|
Pike Road |
|
Dover |
|
CT15 4ND |