Blue Arrow Traffic Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01856518 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2020

FOR

BLUE ARROW TRAFFIC MANAGEMENT LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Z R Webster

REGISTERED OFFICE:

Sapphire House

Clifton Lane

Runcorn

Cheshire

WA7 3FP

REGISTERED NUMBER:

01856518 (England and Wales)

AUDITORS:

Walker Begley Limited

Chartered Accountants and Statutory Auditors

207 Knutsford Road

Grappenhall

Warrington

Cheshire

WA4 2QL

FIXED ASSETS

Tangible assets

4

347,539

366,839

CURRENT ASSETS

Debtors

860,488

1,034,431

Cash at bank and in hand

197,451

80,173

1,057,939

1,114,604

CREDITORS

Amounts falling due within one year

502,965

553,279

NET CURRENT ASSETS

554,974

561,325

TOTAL ASSETS LESS CURRENT LIABILITIES

902,513

928,164

CREDITORS

Amounts falling due after more than one year

5

(312,467

)

(356,572

)

PROVISIONS FOR LIABILITIES

(3,340

)

(4,847

)

NET ASSETS

586,706

566,745

CAPITAL AND RESERVES

Called up share capital

500

500

Capital redemption reserve

500

500

Retained earnings

585,706

565,745

SHAREHOLDERS' FUNDS

586,706

566,745

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 October 2020 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 director and authorised for issue on 11 February 2021 and were signed by:

Z R Webster - Director

1.	STATUTORY INFORMATION

Blue Arrow Traffic Management 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 represents net invoiced sales of services and accrued right to consideration on service contracts, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost

Plant and machinery etc

-

33% on reducing balance and 25% on cost

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.

Cones and signs

A significant proportion of the purchases made by the company are cones and signs used for traffic management. These items are charged in the profit and loss account in the year in which they are purchased.

Going concern

In light of COVID-19 and the impact on the economy, we have considered how this affects the company performance and cashflow moving forward.

As a traffic management company we are designated "key workers" in the official list published by the government. We have continued to trade through the pandemic, with little effect on operations, although ensuring that all necessary Health and Safety guidelines are followed. We do however, recognise that there may be some impact on profitability and recoverability of trade debtors. At this stage, based on contracts and management figures, we do not expect this to be material, although we will continue to monitor cashflow and risk in a bid to minimise the impact on our ability to operate. Based on our current evaluation, we believe the company to be a going concern and the accounts are prepared on that basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2019 - 31 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2019

840,049

Additions

4,672

At 31 October 2020

844,721

DEPRECIATION

At 1 November 2019

473,210

Charge for year

23,972

At 31 October 2020

497,182

NET BOOK VALUE

At 31 October 2020

347,539

At 31 October 2019

366,839

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31/10/20

31/10/19

£

£

Repayable by instalments

Bank loans repayable after 5 years by instalments

194,249

223,635

6.	SECURED DEBTS

The following secured debts are included within creditors:

31/10/20

31/10/19

£

£

Bank loans

328,360

337,327

Debenture on the banks standard form dated 21/10/1999.

Charge over land on the north side of Clifton Lane, Preston Brook, Warrington WA7 3FP on the bank standard form dated 21/10/1999.

There is also a cross guarantee and debenture between Blue Arrow Traffic Management (Holdings) Limited, the parent company of Blue Arrow Traffic Management Limited.

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr K G Begley (Senior Statutory Auditor)

for and on behalf of Walker Begley Limited

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within debtors is a loan to the director, Z R Webster of £98,132 (2019 - £73,367). There are no set repayment terms and interest is charged at 2.5%.

Z R Webster has provided a personal guarantee in respect of a loan included within creditors at the year end. The total balance outstanding as at 31 October 2020 is £44,276 (2019 - £97,925).

9.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements. We also use our auditors to prepare monthly management accounts and carry out payroll bureau services.

10.	POST BALANCE SHEET EVENTS

The COVID-19 outbreak has developed rapidly in 2020, with a significant number of infections. Measures taken by government to contain the virus have affected economic activity. We have taken a number of measures to monitor and prevent the effects of the COVID-19 virus such safety and health measures for our people, such as social distancing and securing the supply of materials that are essential to our operations.

At this stage, the impact on our business and results is limited. We will continue to follow the various policies and advice and do our utmost to continue our operations in the best and safest way possible, without jeopardizing the health of our people. We also refer to note 1 in relation to going concern.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Z R Webster.