Company No: 12470417 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	4	96,490		113,475
		96,490		113,475
Current assets
Stocks	5	60,000		10,000
Debtors	6	72,994		228,835
Cash at bank and in hand		2,886		28,557
		135,880		267,392
Creditors: amounts falling due within one year	7	( 74,139)		( 199,727)
Net current assets		61,741		67,665
Total assets less current liabilities		158,231		181,140
Creditors: amounts falling due after more than one year	8	( 38,598)		( 47,086)
Provision for liabilities		( 18,832)		( 23,078)
Net assets		100,801		110,976
Capital and reserves
Called-up share capital		100		100
Profit and loss account		100,701		110,876
Total shareholder's funds		100,801		110,976

For the financial year ending 31 March 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Peter George Transport Limited (registered number: 12470417) were approved and authorised for issue by the Director on 28 August 2026. They were signed on its behalf by:

N George Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Peter George Transport Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Leasehold improvements	not depreciated
Plant and machinery	25 % reducing balance
Vehicles	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	3		2

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 April 2025	17,000		17,000
At 31 March 2026	17,000		17,000
Accumulated amortisation
At 01 April 2025	17,000		17,000
At 31 March 2026	17,000		17,000
Net book value
At 31 March 2026	0		0
At 31 March 2025	0		0

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Total
	£		£		£		£
Cost
At 01 April 2025	21,161		1,078		167,882		190,121
Additions	0		0		16,000		16,000
Disposals	0		0		( 11,500)		( 11,500)
At 31 March 2026	21,161		1,078		172,382		194,621
Accumulated depreciation
At 01 April 2025	0		501		76,145		76,646
Charge for the financial year	0		144		23,617		23,761
Disposals	0		0		( 2,276)		( 2,276)
At 31 March 2026	0		645		97,486		98,131
Net book value
At 31 March 2026	21,161		433		74,896		96,490
At 31 March 2025	21,161		577		91,737		113,475

5. Stocks

	2026		2025
	£		£
Stocks	60,000		10,000

6. Debtors

	2026		2025
	£		£
Trade debtors	52,413		204,474
Other debtors	20,581		24,361
	72,994		228,835

7. Creditors: amounts falling due within one year

	2026		2025
	£		£
Bank loans	1,667		10,000
Trade creditors	34,289		156,181
Taxation and social security	19,658		12,129
Obligations under finance leases and hire purchase contracts	14,400		17,667
Other creditors	4,125		3,750
	74,139		199,727

8. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Bank loans	0		1,667
Obligations under finance leases and hire purchase contracts	38,598		45,419
	38,598		47,086

9. Related party transactions

Transactions with the entity's director

	2026		2025
	£		£
N George - Interest charged at 3.75%	17,952		20,832

During the year, Mr N George introduced funds amounting to £41,444 and withdrew funds totalling £38,564. At the balance sheet date the £17,952 was owed to the company.