Haulways (West Bromwich) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05760435 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

HAULWAYS (WEST BROMWICH) LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A Bowater

Mr D Bowater

Mrs V Bowater

Mr R Bowater

Mr K Jones

REGISTERED OFFICE:

Unit 5

100 Severn Stars Road

Oldbury

B69 4JU

REGISTERED NUMBER:

05760435 (England and Wales)

BANKERS:

National Westminster Bank Plc

309 High Street

West Bromwich

B70 8LX

INCORPORATION:

29th March 20006

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

180,650

153,622

Investments

6

10,000

190,650

163,622

CURRENT ASSETS

Stocks

1,000

Debtors

275,787

208,668

Cash at bank and in hand

36,078

89,878

312,865

299,546

CREDITORS

Amounts falling due within one year

252,778

215,451

NET CURRENT ASSETS

60,087

84,095

TOTAL ASSETS LESS CURRENT
LIABILITIES

250,737

247,717

CREDITORS

Amounts falling due after more than one
year

(86,860

)

(77,336

)

PROVISIONS FOR LIABILITIES

7

(45,162

)

(40,710

)

NET ASSETS

118,715

129,671

CAPITAL AND RESERVES

Called up share capital

8

90

Retained earnings

118,625

129,581

SHAREHOLDERS' FUNDS

118,715

129,671

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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 14 May 2025 and were signed on its behalf by:

Mr D Bowater - Director

Mr K Jones - Director

1.	STATUTORY INFORMATION

Haulways (West Bromwich) 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, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. it is initially recognized as an asset at cost and is subsequently measured at cost less accumulated amortization and accumulated impairment losses. Goodwill is considered to have a 10 year useful life and has been amortized evenly over this period.

For the purposes of impairment testing goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

Intangible assets

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company only enters into basis financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans from related parties.

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. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2024 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

and 31 March 2025

70,000

AMORTISATION

At 1 April 2024

and 31 March 2025

70,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

373,101

Additions

65,578

At 31 March 2025

438,679

DEPRECIATION

At 1 April 2024

219,479

Charge for year

38,550

At 31 March 2025

258,029

NET BOOK VALUE

At 31 March 2025

180,650

At 31 March 2024

153,622

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 April 2024

238,874

Additions

65,000

Transfer to ownership

(53,427

)

At 31 March 2025

250,447

DEPRECIATION

At 1 April 2024

107,470

Charge for year

27,446

Transfer to ownership

(31,805

)

At 31 March 2025

103,111

NET BOOK VALUE

At 31 March 2025

147,336

At 31 March 2024

131,404

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 April 2024

and 31 March 2025

10,000

NET BOOK VALUE

At 31 March 2025

10,000

At 31 March 2024

10,000

7.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

Deferred tax

45,162

40,710

Deferred

tax

£

Balance at 1 April 2024

40,710

Movement

4,452

Balance at 31 March 2025

45,162

Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated.

Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

23

Ordinary A

£1

23

45

7

Ordinary B

£1

7

2

Ordinary C

£1

2

18

Ordinary D

£1

18

Ordinary E

£1

18

22

Ordinary F

£1

22

-

90

Allotted and issued:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

22

Ordinary F

£1

22

-