Arran Haulage Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC109578 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

Arran Haulage Services Limited

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

DIRECTORS:

S J Armitage

Mrs R E Armitage

SECRETARY:

Mrs R E Armitage

REGISTERED OFFICE:

Home Farm

Brodick

Isle of Arran

KA27 8DD

REGISTERED NUMBER:

SC109578 (Scotland)

ACCOUNTANTS:

Burgoyne Carey

Chartered Accountants

Pavilion 2

3 Dava Street

Broomloan Road

Glasgow

G51 2JA

FIXED ASSETS

Tangible assets

4

290,504

343,556

Investments

5

650,000

600,000

940,504

943,556

CURRENT ASSETS

Stocks

135,000

120,000

Debtors

6

259,378

243,557

Cash at bank and in hand

118,814

223,427

513,192

586,984

CREDITORS

Amounts falling due within one year

7

245,351

241,239

NET CURRENT ASSETS

267,841

345,745

TOTAL ASSETS LESS CURRENT LIABILITIES

1,208,345

1,289,301

CREDITORS

Amounts falling due after more than one year

8

(12,250

)

-

PROVISIONS FOR LIABILITIES

(35,071

)

(44,334

)

NET ASSETS

1,161,024

1,244,967

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Capital redemption reserve

110,000

110,000

Retained earnings

1,001,024

1,084,967

1,161,024

1,244,967

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2022 and were signed on its behalf by:

S J Armitage - Director

1.	STATUTORY INFORMATION

Arran Haulage Services Limited is a private company, limited by shares , registered in Scotland. 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 amounts invoiced during the year net, exclusive of 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Long leasehold

-

5% on cost

Plant and machinery

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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 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.

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 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. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 19 (2021 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2021

214,442

1,111,772

1,326,214

Additions

-

49,750

49,750

Disposals

-

(61,745

)

(61,745

)

At 31 March 2022

214,442

1,099,777

1,314,219

DEPRECIATION

At 1 April 2021

104,222

878,436

982,658

Charge for year

4,299

69,012

73,311

Eliminated on disposal

-

(32,254

)

(32,254

)

At 31 March 2022

108,521

915,194

1,023,715

NET BOOK VALUE

At 31 March 2022

105,921

184,583

290,504

At 31 March 2021

110,220

233,336

343,556

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2021

133,130

Additions

35,000

At 31 March 2022

168,130

DEPRECIATION

At 1 April 2021

69,055

Charge for year

16,890

At 31 March 2022

85,945

NET BOOK VALUE

At 31 March 2022

82,185

At 31 March 2021

64,075

5.	FIXED ASSET INVESTMENTS

Loans to

group

undertakings

£

At 1 April 2021

600,000

New in year

50,000

At 31 March 2022

650,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

245,808

228,668

Other debtors

13,570

14,889

259,378

243,557

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Hire purchase contracts

10,500

21,712

Trade creditors

152,500

122,133

Taxation and social security

25,293

38,577

Other creditors

57,058

58,817

245,351

241,239

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Hire purchase contracts

12,250

-

9.	SECURED DEBTS

D S Bannatyne and C S Warwick hold a charge, dated 8 September 2016, over a piece of ground forming part of the Home Farm Buildings, Brodick KA27 8DD. At the date of signing the accounts this security has been discharged.