DOCUMENT TRANSPORTS LIMITED - Filleted accounts

DOCUMENT TRANSPORTS LIMITED - Filleted accounts

DOCUMENT TRANSPORTS LIMITED - Company Information

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Registered number
00789180
DOCUMENT TRANSPORTS LIMITED
Unaudited Filleted Accounts
for the year ended 31 December 2019
DOCUMENT TRANSPORTS LIMITED
Registered number: 00789180
Balance Sheet
as at 31 December 2019
Notes 2019 2018
£ £
Fixed assets
Intangible assets 3 1 1
Tangible assets 4 1,417,468 1,383,343
1,417,469 1,383,344
Current assets
Stocks 8,436 6,726
Debtors 5 79,661 85,887
Cash at bank and in hand 55,530 328,915
143,627 421,528
Creditors: amounts falling due within one year 6 (327,747) (526,389)
Net current liabilities (184,120) (104,861)
Total assets less current liabilities 1,233,349 1,278,483
Creditors: amounts falling due after more than one year 7 (887,305) (944,578)
Provisions for liabilities (28,650) (26,000)
Net assets 317,394 307,905
Capital and reserves
Called up share capital 5,000 5,000
Profit and loss account 312,394 302,905
Shareholders' funds 317,394 307,905
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr H J Kanabar
Director
Approved by the board on 11 November 2020
DOCUMENT TRANSPORTS LIMITED
Notes to the Accounts
for the year ended 31 December 2019
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods and services provided to customers
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings (excluding land) 2% per annum on a reducing balance basis
Plant, fixtures and fittings 20% per annum on a reducing balance basis
Office and IT equipment 20% per annum on a reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2019 2018
Number Number
Average number of persons employed by the company 39 45
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2019 1
At 31 December 2019 1
Amortisation
At 31 December 2019 -
Net book value
At 31 December 2019 1
At 31 December 2018 1
4 Tangible fixed assets
Freehold property Plant, fixtures and fittings Office and IT equipment Total
£ £ £ £
Cost
At 1 January 2019 1,336,848 201,790 24,725 1,563,363
Additions 34,393 47,730 5,592 87,715
At 31 December 2019 1,371,241 249,520 30,317 1,651,078
Depreciation
At 1 January 2019 90,011 75,138 14,871 180,020
Charge for the year 15,625 34,876 3,089 53,590
At 31 December 2019 105,636 110,014 17,960 233,610
Net book value
At 31 December 2019 1,265,605 139,506 12,357 1,417,468
At 31 December 2018 1,246,837 126,652 9,854 1,383,343
5 Debtors 2019 2018
£ £
Trade debtors 67,798 58,240
Prepayments - -
Other debtors - VAT - 27,647
Other debtors -Corporation tax 11,863
79,661 85,887
6 Creditors: amounts falling due within one year 2019 2018
£ £
Bank loans and overdrafts 57,273 55,067
Accruals 12,139 10,989
Trade creditors 109,944 263,574
Taxation and social security costs 8,989 3,429
Other creditors - director's current account 139,402 193,330
327,747 526,389
7 Creditors: amounts falling due after one year 2019 2018
£ £
Bank loans 478,572 535,845
Other creditors - loan from shareholders 408,733 408,733
887,305 944,578
8 Loans 2019 2018
£ £
Creditors include:
Secured bank loans 535,845 590,912
The bank loan is secured by a charge over the company's freehold property.
9 Related party transactions
The directors consider that all transactions between the company and related parties are on normal commercial terms.
10 Other information
DOCUMENT TRANSPORTS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
5 Fletton Avenue
Peterborough
Cambridge
PE2 8AX
The accounts are presented in sterling which is the functional currency of the company.
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