REGISTERED NUMBER: 06369761 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

COWAN TRANSPORT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

9

DIRECTORS:

Mr D Cowan

Mrs G.F Cowan

SECRETARY:

Mrs G.F Cowan

REGISTERED OFFICE:

Ashfield

Deighton

Northallerton

North Yorkshire

DL6 2SW

REGISTERED NUMBER:

06369761 (England and Wales)

ACCOUNTANTS:

Momentum Taxation and Accountancy Ltd

Harelands Courtyard Offices

Moor Road

Melsonby

Richmond

North Yorkshire

DL10 5NY

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,273,541

1,350,388

1,273,541

1,350,388

CURRENT ASSETS

Debtors

6

609,721

592,320

Cash at bank

1

4,664

609,722

596,984

CREDITORS

Amounts falling due within one year

7

881,679

1,041,772

NET CURRENT LIABILITIES

(271,957

)

(444,788

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,001,584

905,600

CREDITORS

Amounts falling due after more than one year

8

(574,904

)

(584,025

)

PROVISIONS FOR LIABILITIES

(215,904

)

(211,604

)

NET ASSETS

210,776

109,971

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

10

210,774

109,969

SHAREHOLDERS' FUNDS

210,776

109,971

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

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

The directors acknowledge their 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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

Mr D Cowan - Director

Mrs G.F Cowan - Director

1.	STATUTORY INFORMATION

Cowan Transport 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Taxation

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 55 (2023 - 59 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

73,600

AMORTISATION

At 1 January 2024

and 31 December 2024

73,600

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2024

364,883

138,067

49,256

Additions

20,050

-

500

Disposals

-

-

-

At 31 December 2024

384,933

138,067

49,756

DEPRECIATION

At 1 January 2024

55,374

60,385

38,287

Charge for year

7,699

11,652

2,294

Eliminated on disposal

-

-

-

At 31 December 2024

63,073

72,037

40,581

NET BOOK VALUE

At 31 December 2024

321,860

66,030

9,175

At 31 December 2023

309,509

77,682

10,969

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

3,375,542

17,654

3,945,402

Additions

290,982

-

311,532

Disposals

(279,850

)

-

(279,850

)

At 31 December 2024

3,386,674

17,654

3,977,084

DEPRECIATION

At 1 January 2024

2,424,037

16,931

2,595,014

Charge for year

324,690

449

346,784

Eliminated on disposal

(238,255

)

-

(238,255

)

At 31 December 2024

2,510,472

17,380

2,703,543

NET BOOK VALUE

At 31 December 2024

876,202

274

1,273,541

At 31 December 2023

951,505

723

1,350,388

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

562,621

464,033

Other debtors

47,100

128,287

609,721

592,320

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

346,803

286,647

Hire purchase contracts

197,350

240,761

Trade creditors

174,140

139,788

Taxation and social security

142,468

324,789

Other creditors

20,918

49,787

881,679

1,041,772

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

418,643

370,682

Other creditors

156,261

213,343

574,904

584,025

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

2

ordinary

1

2

2

10.

RESERVES

Retained

earnings

£

At 1 January 2024

109,969

Profit for the year

149,805

Dividends

(49,000

)

At 31 December 2024

210,774

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

Mr D Cowan and Mrs G.F Cowan

Balance outstanding at start of year

48,222

41,853

Amounts advanced

59,506

90,223

Amounts repaid

(115,460

)

(83,854

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(7,732

)

48,222

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr D Cowan and Mrs G Cowan.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cowan Transport Limited for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Cowan Transport Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Cowan Transport Limited and state those matters that we have agreed to state to the Board of Directors of Cowan Transport Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at

https://www.accaglobal.com/gb/en/technical-activities/technical-resources-

search/2009/october/factsheet-163-audit-exempt-companies.html.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Cowan Transport Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Cowan Transport Limited. You consider that Cowan Transport Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Cowan Transport Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Momentum Taxation and Accountancy Ltd

Harelands Courtyard Offices

Moor Road

Melsonby

Richmond

North Yorkshire

DL10 5NY

Date: .............................................