C.B.G. Transport Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04312044 (England and Wales)

C.B.G. TRANSPORT LTD

Unaudited Financial Statements

for the Year Ended 28 February 2022

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

C Hartwell

C J Cummings

SECRETARY:

C J Cummings

REGISTERED OFFICE:

Birmingham Road

Blackminster

Evesham

Worcestershire

WR11 7TD

REGISTERED NUMBER:

04312044 (England and Wales)

ACCOUNTANTS:

Haines Watts Worcester Limited

First Floor

Saggar House

Princes Drive

Worcester

WR1 2PG

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

55,578

72,277

55,578

72,277

CURRENT ASSETS

Debtors

6

386,267

316,383

Cash at bank and in hand

479,934

400,069

866,201

716,452

CREDITORS

Amounts falling due within one year

7

(188,137

)

(129,298

)

NET CURRENT ASSETS

678,064

587,154

TOTAL ASSETS LESS CURRENT LIABILITIES

733,642

659,431

PROVISIONS FOR LIABILITIES

(9,504

)

(12,445

)

NET ASSETS

724,138

646,986

CAPITAL AND RESERVES

Called up share capital

90

90

Retained earnings

724,048

646,896

SHAREHOLDERS' FUNDS

724,138

646,986

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 22 June 2022 and were signed on its behalf by:

C J Cummings - Director

1.	STATUTORY INFORMATION

C.B.G. Transport Ltd 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 the net invoiced provision of services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002 has been amortised evenly over its estimated useful life of 10 years. The goodwill has been fully amortised.

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

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

Improvements to property

-

15% on cost and 7% on cost

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Government grants

Grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Grants are recognised using the accrual model.

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.

Going concern

The financial statements have been prepared on a going concern basis and no material uncertainties exist that impact on the company's ability to trade.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2021 - 19 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2021

and 28 February 2022

50,000

AMORTISATION

At 1 March 2021

and 28 February 2022

50,000

NET BOOK VALUE

At 28 February 2022

-

At 28 February 2021

-

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 March 2021

and 28 February 2022

86,317

27,678

61,221

175,216

DEPRECIATION

At 1 March 2021

29,060

22,556

51,323

102,939

Charge for year

12,943

1,281

2,475

16,699

At 28 February 2022

42,003

23,837

53,798

119,638

NET BOOK VALUE

At 28 February 2022

44,314

3,841

7,423

55,578

At 28 February 2021

57,257

5,122

9,898

72,277

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

369,321

301,392

Prepayments

16,946

14,991

386,267

316,383

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

77,575

82,463

Tax

35,881

5,367

Social security and other taxes

9,230

9,860

VAT

25,047

16,778

Directors' current accounts

-

1,219

Accrued expenses

40,404

13,611

188,137

129,298