C.B.G. Transport Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04312044 (England and Wales)

C.B.G. TRANSPORT LTD

Unaudited Financial Statements

for the Year Ended 28 February 2019

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

to

4

Notes to the Financial Statements

5

to

9

DIRECTORS:

C Hartwell

C J Cummings

SECRETARY:

C J Cummings

REGISTERED OFFICE:

Birmingham Road

Blackminster

Evesham

Worcestershire

WR11 7TD

REGISTERED NUMBER:

04312044 (England and Wales)

ACCOUNTANTS:

Haines Watts Worcester Limited

Chartered Certified Accountants

Suite 1A

Shire Business Park

Wainwright Road

Worcester

WR4 9FA

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to

file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements

and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of C.B.G. Transport Ltd for the year ended 28 February 2019 which comprise the Statement of

Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of C.B.G. Transport Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of C.B.G. Transport Ltd and state those matters that we have agreed to state to the Board of Directors of C.B.G. Transport Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that C.B.G. Transport Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of C.B.G. Transport Ltd. You consider that C.B.G. Transport Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of C.B.G. Transport Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Haines Watts Worcester Limited

Chartered Certified Accountants

Suite 1A

Shire Business Park

Wainwright Road

Worcester

WR4 9FA

2 July 2019

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

118,516

132,039

Investments

6

24

84

Investment property

7

-

152,649

118,540

284,772

CURRENT ASSETS

Debtors

8

364,388

349,763

Cash at bank and in hand

350,709

162,536

715,097

512,299

CREDITORS

Amounts falling due within one year

9

204,321

188,292

NET CURRENT ASSETS

510,776

324,007

TOTAL ASSETS LESS CURRENT LIABILITIES

629,316

608,779

CREDITORS

Amounts falling due after more than one year

10

(757

)

(11,090

)

PROVISIONS FOR LIABILITIES

(18,322

)

(19,971

)

NET ASSETS

610,237

577,718

CAPITAL AND RESERVES

Called up share capital

90

90

Retained earnings

610,147

577,628

SHAREHOLDERS' FUNDS

610,237

577,718

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2019 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 2 July 2019 and were signed on its behalf by:

C J Cummings - Director

1.	STATUTORY INFORMATION

C.B.G. Transport Ltd 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.

The significant accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented unless otherwise stated. The company

adopted FRS 102 in the current year and reconciliations of how the transition to FRS 102 has affected the

reported financial position and performance is shown on pages 18 to 20.

Turnover

Turnover represents the net invoiced provision of services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002 has been amortised

evenly over its estimated useful life of 10 years. At the 28 February 2018 Goodwill had been fully amortised

(2017 - fully amortised)

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.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes

in fair value is recognised in profit or loss.

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.

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.

Going concern

The financial statements have been prepared on a going concern basis and no material uncertainties exist that

impact on the company's ability to trade.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - 23 ).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2018

and 28 February 2019

50,000

AMORTISATION

At 1 March 2018

and 28 February 2019

50,000

NET BOOK VALUE

At 28 February 2019

-

At 28 February 2018

-

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 March 2018

86,317

42,702

90,946

219,965

Additions

-

1,174

7,400

8,574

At 28 February 2019

86,317

43,876

98,346

228,539

DEPRECIATION

At 1 March 2018

11,509

30,128

46,289

87,926

Charge for year

5,754

3,329

13,014

22,097

At 28 February 2019

17,263

33,457

59,303

110,023

NET BOOK VALUE

At 28 February 2019

69,054

10,419

39,043

118,516

At 28 February 2018

74,808

12,574

44,657

132,039

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 March 2018

and 28 February 2019

9,482

PROVISIONS

At 1 March 2018

9,398

Provision for year

60

At 28 February 2019

9,458

NET BOOK VALUE

At 28 February 2019

24

At 28 February 2018

84

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2018

152,649

Disposals

(152,649

)

At 28 February 2019

-

NET BOOK VALUE

At 28 February 2019

-

At 28 February 2018

152,649

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

355,739

338,512

Prepayments

8,649

11,251

364,388

349,763

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans

20,000

20,000

Trade creditors

131,703

109,938

Tax

7,590

18,511

Social security and other taxes

12,173

8,804

VAT

17,563

19,655

Directors' current accounts

181

81

Accrued expenses

15,111

11,303

204,321

188,292

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans - 1-2 years

757

11,090

11.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

20,757

31,090

All the company's liabilities to the bank, of any kind and in any currency, (whether present or future or

contingent and whether incurred alone or jointly with another) are secured by way of a fixed and floating

charge over all the company's property and assets, present and future.

The company's bank loan was secured against all the company's interest in 9 School Road, Hampton, WR11

2PW (including all rents receivable from any lease, and the proceeds of any insurances affecting the property)

Both these charges are registered at Companies House.