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Company Registration No. 10285316 (England and Wales)
Phelan Haulage Ltd Unaudited accounts for the year ended 30 November 2025
Phelan Haulage Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Phelan Haulage Ltd Company Information for the year ended 30 November 2025
Director
Mr P Phelan
Company Number
10285316 (England and Wales)
Registered Office
Whitfield House St. Johns Road Meadowfield Industrial Estate Durham DH7 8XL United Kingdom
Accountants
Accountants For The Trade Limited 3B Linden Park Number One Industrial Estate Consett DH8 6SZ
- 3 -
Phelan Haulage Ltd Statement of financial position as at 30 November 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
930,011
688,268
Current assets
Debtors
5
144,685
71,048
Cash at bank and in hand
109,052
151,481
253,737
222,529
Creditors: amounts falling due within one year
6
(298,157)
(200,451)
Net current (liabilities)/assets
(44,420)
22,078
Total assets less current liabilities
885,591
710,346
Creditors: amounts falling due after more than one year
7
(417,969)
(315,636)
Provisions for liabilities
Deferred tax
(150,477)
-
Net assets
317,145
394,710
Capital and reserves
Called up share capital
10
10
Profit and loss account
317,135
394,700
Shareholders' funds
317,145
394,710
For the year ending 30 November 2025 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 16 January 2026 and were signed on its behalf by
Mr P Phelan Director Company Registration No. 10285316
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Phelan Haulage Ltd Notes to the Accounts for the year ended 30 November 2025
1
Statutory information
Phelan Haulage Ltd is a private company, limited by shares, registered in England and Wales, registration number 10285316. The registered office is Whitfield House, St. Johns Road, Meadowfield Industrial Estate, Durham, DH7 8XL, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance
Motor vehicles
20% Reducing Balance
Computer equipment
20% Reducing Balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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Phelan Haulage Ltd Notes to the Accounts for the year ended 30 November 2025
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
£
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At cost
At 1 December 2024
148,854
758,086
-
6,310
913,250
Additions
83,000
291,500
2,583
3,067
380,150
Disposals
(27,250)
-
-
-
(27,250)
At 30 November 2025
204,604
1,049,586
2,583
9,377
1,266,150
Depreciation
At 1 December 2024
44,111
179,424
-
1,447
224,982
Charge for the year
25,520
95,306
376
1,296
122,498
On disposals
(11,341)
-
-
-
(11,341)
At 30 November 2025
58,290
274,730
376
2,743
336,139
Net book value
At 30 November 2025
146,314
774,856
2,207
6,634
930,011
At 30 November 2024
104,743
578,662
-
4,863
688,268
2025
2024
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
55,321
30,880
- Motor vehicles
744,388
578,662
5
Debtors
2025
2024
£
£
Amounts falling due within one year
VAT
16,759
-
Trade debtors
95,794
43,582
Deferred tax asset
-
17,624
Accrued income and prepayments
13,355
8,247
Other debtors
18,777
1,595
144,685
71,048
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
4,391
4,491
VAT
2
24,964
Obligations under finance leases and hire purchase contracts
217,139
138,381
Trade creditors
58,156
28,631
Taxes and social security
9,771
3,613
Other creditors
8,698
361
Loans from directors
-
10
298,157
200,451
- 6 -
Phelan Haulage Ltd Notes to the Accounts for the year ended 30 November 2025
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
13,556
17,444
Obligations under finance leases and hire purchase contracts
404,413
298,192
417,969
315,636
8
Average number of employees
During the year the average number of employees was 6 (2024: 5).
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