Martin Galt Transport Limited - Accounts to registrar (filleted) - small 18.2
Martin Galt Transport Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| MARTIN GALT TRANSPORT LIMITED |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020 |
| MARTIN GALT TRANSPORT LIMITED (REGISTERED NUMBER: 03967264) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2020 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 3 |
| MARTIN GALT TRANSPORT LIMITED (REGISTERED NUMBER: 03967264) |
| BALANCE SHEET |
| 30 JUNE 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| MARTIN GALT TRANSPORT LIMITED (REGISTERED NUMBER: 03967264) |
| BALANCE SHEET - continued |
| 30 JUNE 2020 |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| MARTIN GALT TRANSPORT LIMITED (REGISTERED NUMBER: 03967264) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2020 |
| 1. | STATUTORY INFORMATION |
| Martin Galt Transport Limited is a private company limited by shares. The company is |
| registered in England under number 03967264 and the address of the registered office is |
| Barclays Bank Chambers, Stratford Upon Avon, Warwickshire, CV37 6AH. The company's |
| place of business is 11 Dugdale Avenue, Bidford Upon Avon, Warwickshire, B50 4QE. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 is stated at cost and is amortised in equal annual instalments over its estimated |
| remaining useful life. |
| 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 |
| Property improvements | - |
| Plant and equipment | - |
| Office equipment | - |
| Motor vehicles | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance |
| for obsolete and slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and |
| Loss, 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. |
| MARTIN GALT TRANSPORT LIMITED (REGISTERED NUMBER: 03967264) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 lease are depreciated over their estimated |
| useful lives or or the lease term, whichever is 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 and loss on a straight line basis |
| over the period of the lease. |
| Going concern |
| These accounts have been prepared on the going concern basis as an appropriate |
| indication of support has been received from the directors. |
| Investments |
| Fixed asset investments are shown at most recent valuation. Any aggregate surplus or |
| deficit arising from changes in fair value is recognised in profit or loss. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| MARTIN GALT TRANSPORT LIMITED (REGISTERED NUMBER: 03967264) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2020 |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 July 2019 |
| and 30 June 2020 |
| AMORTISATION |
| At 1 July 2019 |
| Amortisation for year |
| At 30 June 2020 |
| NET BOOK VALUE |
| At 30 June 2020 |
| At 30 June 2019 |
| 5. | TANGIBLE FIXED ASSETS |
| Property | Plant and | Office | Motor |
| improvements | equipment | equipment | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 July 2019 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 30 June 2020 |
| DEPRECIATION |
| At 1 July 2019 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 30 June 2020 |
| NET BOOK VALUE |
| At 30 June 2020 |
| At 30 June 2019 |
| MARTIN GALT TRANSPORT LIMITED (REGISTERED NUMBER: 03967264) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2020 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as |
| follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 July 2019 |
| Additions |
| Transfer to ownership | (106,000 | ) |
| At 30 June 2020 |
| DEPRECIATION |
| At 1 July 2019 |
| Charge for year |
| Transfer to ownership | (40,878 | ) |
| At 30 June 2020 |
| NET BOOK VALUE |
| At 30 June 2020 |
| At 30 June 2019 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| MARTIN GALT TRANSPORT LIMITED (REGISTERED NUMBER: 03967264) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2020 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more than five |
| years by instalments | 10,000 | - |
| 10,000 | - |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2020 | 2019 |
| £ | £ |
| Hire purchase contracts | 281,021 | 275,279 |