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Harron Car Transport Limited
ABRIDGED Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 04596788
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 17,500 20,000
Tangible Assets 5 302,330 163,450
319,830 183,450
CURRENT ASSETS
Debtors 202,273 158,990
Cash at bank and in hand 108,587 125,653
310,860 284,643
Creditors: Amounts Falling Due Within One Year (197,533 ) (137,223 )
NET CURRENT ASSETS (LIABILITIES) 113,327 147,420
TOTAL ASSETS LESS CURRENT LIABILITIES 433,157 330,870
Creditors: Amounts Falling Due After More Than One Year (195,943 ) (174,652 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (68,366 ) (31,055 )
NET ASSETS 168,848 125,163
CAPITAL AND RESERVES
Called up share capital 7 4 4
Profit and Loss Account 168,844 125,159
SHAREHOLDERS' FUNDS 168,848 125,163
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For the year ending 31 December 2024 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 Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 December 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Alan Boyd
Director
10/07/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
Harron Car Transport Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04596788 . The registered office is C/O Mercer & Hole Trinity Court, Church Street, Rickmansworth, WD3 1RT.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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 profit and loss account over its estimated economic life of 10 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
Motor Vehicles 20
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 12)
12 12
4. Intangible Assets
Total
£
Cost
As at 1 January 2024 51,000
As at 31 December 2024 51,000
Amortisation
As at 1 January 2024 31,000
Provided during the period 2,500
As at 31 December 2024 33,500
Net Book Value
As at 31 December 2024 17,500
As at 1 January 2024 20,000
5. Tangible Assets
Total
£
Cost
As at 1 January 2024 205,472
Additions 330,004
Disposals (135,500 )
As at 31 December 2024 399,976
...CONTINUED
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Depreciation
As at 1 January 2024 42,022
Provided during the period 62,024
Disposals (6,400 )
As at 31 December 2024 97,646
Net Book Value
As at 31 December 2024 302,330
As at 1 January 2024 163,450
6. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 41,475 28,311
Later than one year and not later than five years 84,854 64,252
126,329 92,563
126,329 92,563
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
8. Directors Advances, Credits and Guarantees
Dividends paid to directors
9. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 26,000 36,000
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