Brian Palmer Haulage Ltd

Brian Palmer Haulage Ltd
Directors' Report
For the year ended 31 March 2025

Director's report and financial statements

The directors present their annual report and the financial statements for the year ended 31 March 2025

Principal activities

The companys principal activity during the year was operating as a haulage contractor.

Directors

The directors who served the company throughout the year were as follows:

Brian Palmer

Holly Palmer

Statement of directors' responsibilities

The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to :
- select suitable accounting policies and then apply them consistently
- make judgements and accounting estimates that are reasonable and prudent
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the companys transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:

----------------------------------
Holly Palmer
Director

Date approved: 20 June 2025

Registered Number: 09378024 Brian Palmer Haulage Ltd
Statement of Financial Position
As at 31 March 2025

	Notes	2025 £	2024 £
Fixed assets
Tangible fixed assets	3	199,561	266,081
		199,561	266,081
Current assets
Stocks	4	14,500	10,000
Debtors	5	206,888	254,695
Cash at bank and in hand		171,645	88,537
		393,033	353,232
Creditors: amount falling due within one year	6	(29,747)	(31,904)
Net current assets		363,286	321,328

Total assets less current liabilities		562,847	587,409
Creditors: amount falling due after more than one year	7	(393,376)	(420,212)
Net assets		169,471	167,197

Capital and reserves
Called up share capital	8	100	100
Profit and loss account		169,371	167,097
Shareholders' funds		169,471	167,197

For the year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The financial statements were approved by the board of directors on 20 June 2025 and were signed on its behalf by:

-------------------------------
Holly Palmer
Director

Brian Palmer Haulage Ltd
Notes to the Financial Statements
For the year ended 31 March 2025

General Information

Brian Palmer Haulage Ltd is a private company, limited by shares, registered in England and Wales, registration number 09378024, registration address Acorns, Wash Lane, Mendlesham, Stowmarket, IP14 5TD.

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

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)

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Finance lease and hire purchase charges

The finance element of the rental payment is charged to the income statement on a straight line basis.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor vehicles - 15% reducing balance
Plant - 25% reducing balance
In relation to motor vehicles, this policy differs from that used in the year ended 31 March 2018 which was 25% reducing balance. The directors believe that the new policy gives a more accurate reflection of the depreciation suffered by the motor vehicles. Had the previous policy been followed consistently then the depreciation charge would have been £51,212 higher.

Plant and Machinery	25% Reducing Balance
Motor Vehicles	25% Reducing Balance

Assets on finance lease and hire purchase

Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.	Average number of employees Average number of employees during the year was 15 (2024 : 15).

Tangible fixed assets

Cost or valuation	Plant and Machinery	Motor Vehicles	Total
	£	£	£
At 01 April 2024	116,052	1,140,389	1,256,441
Additions	-	-	-
Disposals	-	-	-
At 31 March 2025	116,052	1,140,389	1,256,441
Depreciation
At 01 April 2024	104,367	885,993	990,360
Charge for year	2,921	63,599	66,520
On disposals	-	-	-
At 31 March 2025	107,288	949,592	1,056,880
Net book values
Closing balance as at 31 March 2025	8,764	190,797	199,561
Opening balance as at 01 April 2024	11,685	254,396	266,081

Stocks

	2025 £		2024 £
Stocks	14,500		10,000
	14,500		10,000

Debtors: amounts falling due within one year

	2025 £	2024 £
Trade Debtors	199,231	232,262
Prepayments & Accrued Income	750	-
Other Debtors	-	21,100
VAT	6,907	1,333
	206,888	254,695

Creditors: amount falling due within one year

	2025 £	2024 £
Trade Creditors	11,563	20,490
Corporation Tax	8,494	-
PAYE & Social Security	7,690	9,414
Accrued Expenses	2,000	2,000
	29,747	31,904

Creditors: amount falling due after more than one year

	2025 £	2024 £
Bank Loans & Overdrafts	15,792	25,792
Directors' Loan Accounts	377,584	394,420
	393,376	420,212

Share Capital

Allotted, called up and fully paid	2025 £		2024 £
100 Ordinary shares of £1.00 each	100		100
	100		100

Related parties

During the year the company entered into the following transactions with related parties:

	Transaction value - income/(expenses)				Balance owed by/(owed to)
	2025 £		2024 £		2025 £		2024 £
Brian Palmer Haulage	15,000		15,000		(377,584)		(394,420)

The company occupies a property owned by the sole trade business with an annual rent of £9,000. Management charges have been made from the company to the sole trade as above. An amount is owed to the director - including the sole trade - as above


Registered Number: 09378024
England and Wales
Unaudited Financial Statements

for the year ended 31 March 2025
for
BRIAN PALMER HAULAGE LTD