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Registered number:
FOR THE YEAR ENDED 30 JUNE 2025
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TRUCKHAVEN (CARNFORTH) LIMITED
COMPANY INFORMATION
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TRUCKHAVEN (CARNFORTH) LIMITED
CONTENTS
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TRUCKHAVEN (CARNFORTH) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2025
The director presents his Strategic report together with the audited financial statements for the year ended 30 June 2025.
The Company has performed satisfactorily during the financial year maintaining an acceptable profit margin and stable net asset position. The director is optimistic that the Company is well-positioned for continued success.
The growth of the business and the execution of the Company’s strategy are subject to a number of risks. Many of these risks are common in other businesses. Careful risk management is fundamental to the ability of the business to execute its strategic objectives. These risks are discussed below.
Credit risk The Company has no significant concentration of credit risk, with the exposure spread over many customers. All customers who trade on credit terms go through a credit vetting process and have a certain credit limit applied. In addition, all receivable balances are monitored daily reducing the exposure to bad debts. Liquidity risk Liquidity risk is managed by continuous monitoring of cashflow ensuring that income streams are maintained, and working capital is available to pay liabilities as they fall due.
The director monitors the progress of the Company with reference to the following financial key performance indicators -
The Company's gross profit margin was 14.0% (2024 - 12.4%) The Company's net profit margin was 5.5% (2024 - 4.6%). The Company's had net assets of £8,288,192 (2024 - £7,399,673).
This report was approved by the board on 27 October 2025 and signed on its behalf.
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TRUCKHAVEN (CARNFORTH) LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 JUNE 2025
The director presents his report and the financial statements for the year ended 30 June 2025.
The director is responsible for preparing the Strategic report, the Director's report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the director is required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Going concern The director notes that the company is trading adequately and has sufficient working capital and other finance available to continue trading for a period of not less than 12 months from the date of approval of these financial statements. As such, the director believes that there are no significant uncertainties in his assessment of whether the business is a going concern and therefore has prepared the accounts on a going concern basis.
The profit for the year, after taxation, amounted to £777,338 (2024 - £647,173).
Dividends of £500,000 (2024 - £1,050,000) were paid during the year.
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TRUCKHAVEN (CARNFORTH) LIMITED
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
The director who served during the year was:
The company has chosen in accordance with section 414C of the Companies Act 2006, to set out financial risk management objectives and future developments within the strategic report.
There have been no subsequent events that require disclosure or adjustments to the financial statements.
Before the year end Barnes Roffe LLP resigned as auditors due to the transfer of its audit business and its successor Barnes Roffe Audit Limited was appointed by the directors under s485 Companies Act 2006.
This report was approved by the board on
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TRUCKHAVEN (CARNFORTH) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TRUCKHAVEN (CARNFORTH) LIMITED
We have audited the financial statements of Truckhaven (Carnforth) Limited (the 'Company') for the year ended 30 June 2025, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
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TRUCKHAVEN (CARNFORTH) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TRUCKHAVEN (CARNFORTH) LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The director is responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Director's report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Director's report.
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TRUCKHAVEN (CARNFORTH) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TRUCKHAVEN (CARNFORTH) LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with law and regulations, was as follows:
∙The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
∙We identified the laws and regulations applicable to the company through discussion with directors and other management, and from our commercial knowledge and experience of the relevant sector;
∙The specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, are as follows:
°Companies Act 2006.
°FRS102.
°Employment legislation.
°Tax legislation.
∙We assessed the extent of compliance with the laws and regulations identified above through making enquiries of; and
∙Laws and regulations were communicated within the audit team at the planning meeting, and during the audit as any further laws and regulation were identified. The audit team remained alert to instances of noncompliance throughout the audit.
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur by:
∙Making enquiries of management as to where they consider there was susceptibility to fraud and their knowledge of actual, suspected and alleged fraud;
∙Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;
∙Reviewing the financial statements and testing the disclosures against supporting documentation;
∙Performing analytical procedures to identify any unusual or unexpected trends or anomalies;
∙Inspecting and testing journal entries to identify unusual or unexpected transactions;
∙Assessing whether judgement and assumptions made in determining significant accounting estimates were indicative of management bias; and
∙Investigating the rationale behind significant transactions, or transactions that are unusual or outside the company’s usual course of business.
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TRUCKHAVEN (CARNFORTH) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TRUCKHAVEN (CARNFORTH) LIMITED (CONTINUED)
The areas that we identified as being susceptible to misstatement through fraud were:
∙Management bias in the estimates and judgements made;
∙Management override of controls; and
∙Posting of unusual journals or transactions.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants & Statutory Auditors
3 Brook Business Centre
Cowley Mill Road
Middlesex
UB8 2FX
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TRUCKHAVEN (CARNFORTH) LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2025
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TRUCKHAVEN (CARNFORTH) LIMITED
REGISTERED NUMBER: 04946187
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2025
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TRUCKHAVEN (CARNFORTH) LIMITED
REGISTERED NUMBER: 04946187
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 12 to 25 form part of these financial statements.
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TRUCKHAVEN (CARNFORTH) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2025
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024
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TRUCKHAVEN (CARNFORTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
Truckhaven (Carnforth) Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 4 The Deans, Bridge Road, Bagshot, Surrey, GU19 5AT.
The company specialises in the provision of automotive related products and services.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d).
This information is included in the consolidated financial statements of Stonplan Limited as at year ended 30 June 2025 and these financial statements may be obtained from Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ.
The director notes that the company is trading adequately has sufficient working capital and other finance available to continue trading for a period of not less than 12 months from the date of approval of these financial statements. As such, the director believes that there are no significant uncertainties in his assessment of whether the business is a going concern and therefore has prepared the accounts on a going concern basis.
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TRUCKHAVEN (CARNFORTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
2.Accounting policies (continued)
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TRUCKHAVEN (CARNFORTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
2.Accounting policies (continued)
At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
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TRUCKHAVEN (CARNFORTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
2.Accounting policies (continued)
Depreciation is provided on the following basis:
Depreciation is also not charged on freehold buildings as the director believes the long economic useful and high residual value would render any depreciation immaterial.
The treatment is contrary to the Companies Act 2006, which states that fixed assets should be depreciated. However it is, in the opinion of the director, necessary in order to give a true and fair view of the financial position of the company. 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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.
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TRUCKHAVEN (CARNFORTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
2.Accounting policies (continued)
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
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TRUCKHAVEN (CARNFORTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
2.Accounting policies (continued)
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
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TRUCKHAVEN (CARNFORTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
2.Accounting policies (continued)
The principal estimates and judgements that could have a significant effect upon the group's financial results relate to: Estimation of useful lives of assets The company determines the estimated useful lives and related depreciation charges for its tangible fixed assets. The useful lives could change significantly as a result of technical innovations or some other event. The depreciation charge will increase where the useful lives are less than previously estimated lives, or technically obsolete or non-strategic assets that have been abandoned or sold will be written off or written down. Fair value of freehold properties The annual revaluation of freehold properties is sensitive to the changes in the rental market and the economic climate of the surrounding area. The properties are revalued at fair value by the director each year at the Statement of financial position date. Provision for impairment of stock The provision for impairment of stock assessment requires a degree of estimation and judgement. The level of the provision is assessed by taking into account the recent sales experience, the ageing of stock and other factors that affect stock obsolescence.
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TRUCKHAVEN (CARNFORTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
Page 19
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TRUCKHAVEN (CARNFORTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
Page 20
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TRUCKHAVEN (CARNFORTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
11.Taxation (continued)
There are no significant factors that would affect future tax charges.
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TRUCKHAVEN (CARNFORTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
If the freehold property had not been included at valuation, It would have been included under the historical cost convention at a net book value of £3,000,000 (2024 - £3,000,000), reflecting an accumulated depreciation of £167,471 which has reduced the historical cost from £3,167,471.
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TRUCKHAVEN (CARNFORTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
Page 23
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TRUCKHAVEN (CARNFORTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
Revaluation reserve
Profit and loss account
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TRUCKHAVEN (CARNFORTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £21,899 (2024 - £16,816). Contributions totalling £4,372 (2024 - £Nil) were payable to the fund at the reporting date and are included in other creditors.
The immediate and ultimate parent company is Stonplan Limited, a company incorporated in England and Wales. Its registered office is 4 The Deans, Bridge Road, Bagshot, Surrey, GU19 5AT. This is the smallest and largest company in which the results of this company are consolidated. The financial statements of Stonplan Limited may be obtained from Companies House, Crown Way, Cardiff CF14 3UZ.
The ultimate controlling party is
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