| MEAD TRANSPORT (UK) LTD |
|
| Report to the directors on the preparation of the unaudited statutory accounts of MEAD TRANSPORT (UK) LTD for the year ended 30 September 2014 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MEAD TRANSPORT (UK) LTD for the year ended 30 September 2014 which comprise of the Profit and Loss Account, the 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://rulebook.accaglobal.com/ |
| Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. |
|
| Douglas Darko & CO. Ltd |
| Chartered Certified Accountants & Statutory Auditor |
| 342 Streatham High Road |
| Streatham |
| London |
| SW16 6HH |
|
| 29 June 2015 |
|
| MEAD TRANSPORT (UK) LTD |
| Balance Sheet |
| as at 30 September 2014 |
|
| Notes |
|
|
2014 |
|
|
2013 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
4 |
|
|
29,382 |
|
|
32,992 |
| Tangible assets |
5 |
|
|
185,249 |
|
|
89,803 |
|
|
|
|
214,631 |
|
|
122,795 |
|
| Current assets |
| Debtors |
6 |
|
44,340 |
|
|
37,624 |
| Cash at bank and in hand |
|
|
1,102 |
|
|
91,949 |
|
|
|
45,442 |
|
|
129,573 |
|
| Creditors: amounts falling due within one year |
7 |
|
(97,479) |
|
|
(105,181) |
|
| Net current (liabilities)/assets |
|
|
|
(52,037) |
|
|
24,392 |
|
| Total assets less current liabilities |
|
|
|
162,594 |
|
|
147,187 |
|
| Creditors: amounts falling due after more than one year |
8 |
|
|
(152,018) |
|
|
(155,553) |
|
|
|
| Net assets/(liabilities) |
|
|
|
10,576 |
|
|
(8,366) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
9 |
|
|
100 |
|
|
100 |
| Profit and loss account |
10 |
|
|
10,476 |
|
|
(8,466) |
|
| Shareholders' funds |
|
|
|
10,576 |
|
|
(8,366) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their 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 in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
|
| Mr. Stephen J Cave |
| Director |
| Approved by the board on 29 June 2015 |
|
| MEAD TRANSPORT (UK) LTD |
| Notes to the Accounts |
| for the year ended 30 September 2014 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
| 2 |
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Plant and machinery |
20% straight line |
|
Motor vehicles |
25% straight line |
|
|
Foreign currencies |
|
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. |
|
|
Leasing and hire purchase commitments |
|
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.
The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.
Rentals paid under operating leases are charged to income on a straight line basis over the lease term. |
|
|
| 2 |
Operating profit |
2014 |
|
2013 |
| £ |
£ |
|
This is stated after charging: |
|
|
Depreciation of owned fixed assets |
25,166 |
|
21,967 |
|
Amortisation of goodwill |
3,610 |
|
3,610 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Interest payable |
2014 |
|
2013 |
| £ |
£ |
|
|
Interest payable |
- |
|
4 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 October 2013 |
45,437 |
|
At 30 September 2014 |
45,437 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 October 2013 |
12,445 |
|
Provided during the year |
3,610 |
|
At 30 September 2014 |
16,055 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2014 |
29,382 |
|
At 30 September 2013 |
32,992 |
|
|
|
|
|
|
|
|
|
|
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years. |
|
|
| 5 |
Tangible fixed assets |
|
|
|
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 October 2013 |
8,460 |
|
125,834 |
|
134,294 |
|
Additions |
62,900 |
|
64,712 |
|
127,612 |
|
Disposals |
- |
|
(7,000) |
|
(7,000) |
|
At 30 September 2014 |
71,360 |
|
183,546 |
|
254,906 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 October 2013 |
6,524 |
|
37,967 |
|
44,491 |
|
Charge for the year |
- |
|
25,166 |
|
25,166 |
|
At 30 September 2014 |
6,524 |
|
63,133 |
|
69,657 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2014 |
64,836 |
|
120,413 |
|
185,249 |
|
At 30 September 2013 |
1,936 |
|
87,867 |
|
89,803 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Debtors |
2014 |
|
2013 |
| £ |
£ |
|
|
Trade debtors |
40,680 |
|
37,624 |
|
Other debtors |
3,660 |
|
- |
|
|
|
|
|
|
44,340 |
|
37,624 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due within one year |
2014 |
|
2013 |
| £ |
£ |
|
|
Bank loans and overdrafts |
3,556 |
|
1,283 |
|
Obligations under finance lease and hire purchase contracts |
2,799 |
|
31,525 |
|
Trade creditors |
24,745 |
|
15,010 |
|
Corporation tax |
(2,717) |
|
(2,717) |
|
Other taxes and social security costs |
64,539 |
|
47,621 |
|
Wages control account |
(17,031) |
|
3,271 |
|
SJC Loan Account |
11,000 |
|
- |
|
Other creditors |
10,588 |
|
9,188 |
|
|
|
|
|
|
97,479 |
|
105,181 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Creditors: amounts falling due after one year |
2014 |
|
2013 |
| £ |
£ |
|
|
Bank loans |
18,723 |
|
18,723 |
|
Obligations under finance lease and hire purchase contracts |
133,295 |
|
136,830 |
|
|
|
|
|
|
152,018 |
|
155,553 |
|
|
|
|
|
|
|
|
|
|
| 9 |
Share capital |
Nominal |
|
2014 |
|
2014 |
|
2013 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
- |
|
100 |
|
100 |
|
|
|
|
|
|
|
|
|
|
| 10 |
Profit and loss account |
2014 |
| £ |
|
|
At 1 October 2013 |
(8,466) |
|
Profit for the year |
18,942 |
|
|
At 30 September 2014 |
10,476 |
|
|
|
|
|
|
|
