J W TEWARD & SONS (HAULAGE) LTD


Directors	TEWARD, Andrew William
	TEWARD, Jeffrey William
	TEWARD, Jennifer Mary
	TEWARD, Richard Dryden


Registered Address	York House
	Thornfield Business Park
	Northallerton
	DL6 2XQ


Place of Business	Fair View Farm
	Middleton-in-Teesdale
	Barnard Castle
	Durham
	DL12 0RY


Registered Number	14236267 (England and Wales)

Statement of Financial Position
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		342,334		217,501
			342,334		217,501
Current assets
Stocks		5,165		-
Debtors	4	164,635		123,442
Cash at bank and on hand		53,598		74,759
		223,398		198,201
Creditors amounts falling due within one year	5	(283,787)		(378,835)
Net current assets (liabilities)			(60,389)		(180,634)
Total assets less current liabilities			281,945		36,867
Creditors amounts falling due after one year	6		(85,313)		-
Provisions for liabilities	8		(85,500)		(54,300)
Net assets			111,132		(17,433)
Capital and reserves
Called up share capital			104		104
Profit and loss account			111,028		(17,537)
Shareholders' funds			111,132		(17,433)

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 27 November 2025, and are signed on its behalf by:

TEWARD, Andrew William
Director

TEWARD, Jeffrey William
Director

TEWARD, Richard Dryden
Director

Registered Company No. 14236267

J W TEWARD & SONS (HAULAGE) LTD

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	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/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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 policy

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/or the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 

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.

	Employee benefits
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Employee benefits

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Vehicles	25

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Stocks and work in progress

Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). 

At each date of Statement of Financial Position, stocks are assessed for impairment.  If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell.  The impairment loss is recognised immediately in the Income Statement.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	11		9

3.	Tangible fixed assets

	Vehicles	Total
	£	£
Cost or valuation
At 01 April 24	316,365	316,365
Additions	187,000	187,000
At 31 March 25	503,365	503,365
Depreciation and impairment
At 01 April 24	98,864	98,864
Charge for year	62,167	62,167
At 31 March 25	161,031	161,031
Net book value
At 31 March 25	342,334	342,334
At 31 March 24	217,501	217,501

4.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	138,611	120,744
Other debtors	16,041	-
Prepayments and accrued income	9,983	2,698
Total	164,635	123,442

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	16,419	60,847
Taxation and social security	8,786	50,150
Finance lease and HP contracts	29,250	35,455
Other creditors	226,882	230,112
Accrued liabilities and deferred income	2,450	2,271
Total	283,787	378,835

6.	Creditors: amounts due after one year

	2025	2024
	£	£
Other creditors	85,313	-
Total	85,313	-


	Hire Purchase contracts amounting to £85,313 (2024: £Nil) are included within other creditors.

7.	Obligations under finance leases

		2025		2024
		£		£
	Finance lease and HP contracts	114,563		35,455

8.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	85,500	54,300
Total	85,500	54,300

9.	Related party transactions
	Included in other creditors is a loan from the directors. At 31 March 2025 the company owed the Directors’ £214,307 (2024: £206,935). No interest was charged on this loan and the loan is repayable on demand.

10.	Description of reasons for any change in chosen formats of the financial statments
	The company has transitioned from FRS 105 to FRS 102 Section 1a reporting requirements this year. The policies applied under the entity's previous accounting framework are not materially different to FRS 102 Section 1a and have not impacted on equity or profit or loss apart from the introduction of a deferred tax provision of £85,500 (2024: £54,300).