McCann Transport Limited - Accounts to registrar (filleted) - small 18.2
McCann Transport Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 December 2019 |
| for |
| McCann Transport Limited |
| McCann Transport Limited (Registered number: 05313207) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2019 |
| Page |
| Company Information | 1 |
| Abridged Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 7 |
| McCann Transport Limited |
| Company Information |
| for the Year Ended 31 December 2019 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| The Lion Buildings |
| 8 Market Place |
| Uttoxeter |
| Staffordshire |
| ST14 8HP |
| McCann Transport Limited (Registered number: 05313207) |
| Abridged Statement of Financial Position |
| 31 December 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| McCann Transport Limited (Registered number: 05313207) |
| Abridged Statement of Financial Position - continued |
| 31 December 2019 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on were signed by: |
| McCann Transport Limited (Registered number: 05313207) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2019 |
| 1. | STATUTORY INFORMATION |
| McCann Transport Limited is a |
| 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 |
| Turnover |
| Turnover represents net invoiced sales of services, excluding value added tax. |
| Tangible fixed assets |
| Lorries and trailers | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
| the statement of financial position 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at |
| the statement of financial position date. Transactions in foreign currencies are translated into sterling |
| at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account |
| in arriving at the operating result. |
| McCann Transport Limited (Registered number: 05313207) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 recognised at the fair value at the inception of the lease and 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 and the |
| capital element of the future payments is treated as a liability. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1 January 2019 |
| Additions |
| At 31 December 2019 |
| DEPRECIATION |
| At 1 January 2019 |
| Charge for year |
| At 31 December 2019 |
| NET BOOK VALUE |
| At 31 December 2019 |
| At 31 December 2018 |
| McCann Transport Limited (Registered number: 05313207) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2019 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Totals |
| £ |
| COST |
| At 1 January 2019 | 220,000 |
| Additions | 24,150 |
| Transfer to ownership | (140,000 | ) |
| At 31 December 2019 | 104,150 |
| DEPRECIATION |
| At 1 January 2019 | 77,940 |
| Charge for year | 32,621 |
| Transfer to ownership | (48,146 | ) |
| At 31 December 2019 | 62,415 |
| NET BOOK VALUE |
| At 31 December 2019 | 41,735 |
| At 31 December 2018 | 142,060 |
| The company's future minimum finance lease payments are as follow: |
| 2019 |
| £ |
| Within one year | 10,159 |
| Between on and five years | 2,985 |
| 13,144 |
| The finance lease has a fixed monthly payment for the term of the primary period of the lease and the |
| option of a secondary rental period at a reduced rate, once the primary period has ceased. |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2019 | 2018 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| Chartered Accountants' Report to the Director |
| on the Unaudited Financial Statements of |
| McCann Transport Limited |
| The following reproduces the text of the report prepared for the director 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 Statement of Financial Position. Readers are cautioned that the Income |
| Statement and certain other primary statements and the Report of the Director 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 McCann Transport Limited for the year ended 31 December 2019 which comprise |
| the Income Statement, Abridged Statement of Financial Position 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the director of McCann Transport Limited in accordance with the terms of our engagement letter dated 31 July 2018. Our work has been undertaken solely to prepare for your approval the financial statements of McCann Transport Limited and state those matters that we have agreed to state to the director of McCann Transport Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than McCann Transport Limited and its director for our work or for this report. |
| It is your duty to ensure that McCann Transport Limited 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 McCann Transport Limited. You consider that McCann Transport Limited 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 McCann Transport Limited. 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. |
| Chartered Accountants |
| The Lion Buildings |
| 8 Market Place |
| Uttoxeter |
| Staffordshire |
| ST14 8HP |