REGISTERED NUMBER: 07969466 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Philmar Transport Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr I P Strickland

Mr J A Strickland

Mr I Cullen-Shaw

REGISTERED OFFICE:

Reedham House

31 King Street West

Manchester

Manchester

M3 2PJ

BUSINESS ADDRESS:

Bridge Street

Stalybridge

Cheshire

SK15 1PF

REGISTERED NUMBER:

07969466 (England and Wales)

ACCOUNTANTS:

Freedman Frankl & Taylor

Chartered Accountants

Reedham House

31 King Street West

Manchester

M3 2PJ

FIXED ASSETS

Intangible assets

4

7,500

8,500

Tangible assets

5

25,149

33,649

32,649

42,149

CURRENT ASSETS

Debtors

6

149,394

158,532

Cash at bank and in hand

11,527

270

160,921

158,802

CREDITORS

Amounts falling due within one year

7

(147,902

)

(144,060

)

NET CURRENT ASSETS

13,019

14,742

TOTAL ASSETS LESS CURRENT LIABILITIES

45,668

56,891

PROVISIONS FOR LIABILITIES

(1,028

)

(32,012

)

NET ASSETS

44,640

24,879

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

44,540

24,779

SHAREHOLDERS' FUNDS

44,640

24,879

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 December 2025 and were signed on its behalf by:

Mr I P Strickland - Director

1.	STATUTORY INFORMATION

Philmar 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 for the provision of services, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill and intangible fixed assets

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty years.

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.

Land and buildings

-

2% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Tangible fixed assets are initially recorded at cost less accumulated depreciation and accumulated impairment losses.

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

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. The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. Those held under operating leases are charged to the profit and loss account as they are incurred.

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.

Going concern

The company's financial statements for the year ended 31 March 2025 have been prepared on a going concern basis as, after making appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

20,000

AMORTISATION

At 1 April 2024

11,500

Charge for year

1,000

At 31 March 2025

12,500

NET BOOK VALUE

At 31 March 2025

7,500

At 31 March 2024

8,500

5.	TANGIBLE FIXED ASSETS

Fixtures

Land and

Plant and

and

buildings

machinery

fittings

£

£

£

COST

At 1 April 2024

15,931

23,847

382

Disposals

-

-

-

At 31 March 2025

15,931

23,847

382

DEPRECIATION

At 1 April 2024

1,301

14,790

285

Charge for year

319

2,264

24

Eliminated on disposal

-

-

-

At 31 March 2025

1,620

17,054

309

NET BOOK VALUE

At 31 March 2025

14,311

6,793

73

At 31 March 2024

14,630

9,057

97

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2024

22,245

2,922

65,327

Disposals

(14,750

)

-

(14,750

)

At 31 March 2025

7,495

2,922

50,577

DEPRECIATION

At 1 April 2024

13,460

1,842

31,678

Charge for year

1,053

270

3,930

Eliminated on disposal

(10,180

)

-

(10,180

)

At 31 March 2025

4,333

2,112

25,428

NET BOOK VALUE

At 31 March 2025

3,162

810

25,149

At 31 March 2024

8,785

1,080

33,649

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

142,140

149,109

Tax

693

-

Prepayments

6,561

9,423

149,394

158,532

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

-

6,728

Trade creditors

48,711

37,884

Taxation and social security

30,002

28,494

Other creditors

69,189

70,954

147,902

144,060

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

22,917

25,000

Between one and five years

-

22,917

22,917

47,917

9.	RELATED PARTY DISCLOSURES

Included in other creditors falling due within one year and also creditors falling due after more than one year is the directors' loan account balances amounting to £52,522 (2024: £55,671). No interest has been charged on these balances. The loan account balance is repayable by a minimum notice of one year and a day.