REGISTERED NUMBER: 12888729 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

KINGSWAY HAULAGE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R S Sahota

REGISTERED OFFICE:

88 Clayhall Avenue

Ilford

Essex

IG5 0LF

REGISTERED NUMBER:

12888729 (England and Wales)

ACCOUNTANTS:

M. D. Coxey and Co. Limited

Chartered Accountants

25 Grosvenor Road

Wrexham

LL11 1BT

BANKERS:

National Westminster Bank

32 East Street

Barking

IG11 8EU

FIXED ASSETS

Tangible assets

4

253,708

139,437

CURRENT ASSETS

Debtors

5

83,010

65,510

Cash at bank

6,086

44,254

89,096

109,764

CREDITORS

Amounts falling due within one year

6

271,517

242,478

NET CURRENT LIABILITIES

(182,421

)

(132,714

)

TOTAL ASSETS LESS CURRENT LIABILITIES

71,287

6,723

CREDITORS

Amounts falling due after more than one year

7

112,282

29,481

NET LIABILITIES

(40,995

)

(22,758

)

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

(41,095

)

(22,858

)

SHAREHOLDERS' FUNDS

(40,995

)

(22,758

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26th September 2025 and were signed by:

R S Sahota - Director

1.	STATUTORY INFORMATION

Kingsway Haulage 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.

The company has total liabilities which exceed the assets as a result of the directors loan account. The liability is supported by the directors and will not be withdrawn until such time as the balances can be recovered. It is considered appropriate to prepare these financial statements on the going concern basis.

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.

Motor vehicles

-

10% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1st January 2024

185,000

Additions

220,000

Disposals

(115,000

)

At 31st December 2024

290,000

DEPRECIATION

At 1st January 2024

45,563

Charge for year

23,625

Eliminated on disposal

(32,896

)

At 31st December 2024

36,292

NET BOOK VALUE

At 31st December 2024

253,708

At 31st December 2023

139,437

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1st January 2024

185,000

Additions

220,000

Disposals

(115,000

)

At 31st December 2024

290,000

DEPRECIATION

At 1st January 2024

45,563

Charge for year

23,625

Eliminated on disposal

(32,896

)

At 31st December 2024

36,292

NET BOOK VALUE

At 31st December 2024

253,708

At 31st December 2023

139,437

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

68,053

55,288

Other debtors

2,911

3,174

Deferred tax asset

9,613

5,362

Prepayments

2,433

1,686

83,010

65,510

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

39,216

52,713

Trade creditors

5,310

3,934

Credit card

757

375

VAT

12,595

6,955

Directors' current accounts

209,246

173,128

Accrued expenses

4,393

5,373

271,517

242,478

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

112,282

29,481

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Hire purchase contracts

151,498

82,194

9.	DEFERRED TAX

£

Balance at 1st January 2024

(5,362

)

Movement in the year due to:

changes in tax allowances

21,711

changes in tax losses

(26,188

)

Balance at 31st December 2024

(9,839

)

**

BALANCE ABOVE AT END OF YEAR RE DEFERRED TAX ON CLIENT SCREEN OF

(9,839

)

DOES NOT AGREE TO CURRENT YEAR TOTAL OF ACCOUNTS PER TB

(9,613

)

PLEASE CHECK CLIENT SCREEN - NOTES TO FINANCIAL STATEMENTS - BALANCE SHEET ITEMS - PROVISIONS FOR LIABILITIES - MOVEMENT IN PROVISIONS ETC

Please note: a deferred tax asset should be entered as a negative balance (i.e. include a "-" sign)

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

100

Ordinary

£1.00

100

100

11.	CAPITAL COMMITMENTS

31.12.24

31.12.23

£

£

Contracted but not provided for in the

financial statements

-

-