H. Young Transport Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02852323 (England and Wales)

H. YOUNG TRANSPORT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

Report of the Accountants

7

DIRECTORS:

R Webster

P Partington

M Jackson

SECRETARY:

P Partington

REGISTERED OFFICE:

Transport House, Units 1 2 & 3 Althea

Wellington Park

Wellington Road

Burton on Trent

Staffordshire

DE14 2TG

REGISTERED NUMBER:

02852323 (England and Wales)

ACCOUNTANTS:

Four Oaks Taxation & Accounting Services Limited

Suite D, Astor House

282 Lichfield Road

Four Oaks

Sutton Coldfield

West Midlands

B74 2UG

FIXED ASSETS

Tangible assets

4

2,681,835

2,921,557

CURRENT ASSETS

Stocks

9,666

9,666

Debtors

5

1,341,393

1,227,885

Cash at bank

1,050,364

379,521

2,401,423

1,617,072

CREDITORS

Amounts falling due within one year

6

1,230,113

1,007,700

NET CURRENT ASSETS

1,171,310

609,372

TOTAL ASSETS LESS CURRENT LIABILITIES

3,853,145

3,530,929

CREDITORS

Amounts falling due after more than one year

7

(586,968

)

(707,991

)

PROVISIONS FOR LIABILITIES

(119,831

)

(158,481

)

NET ASSETS

3,146,346

2,664,457

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Retained earnings

3,141,346

2,659,457

SHAREHOLDERS' FUNDS

3,146,346

2,664,457

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 3 August 2022 and were signed on its behalf by:

R Webster - Director

1.	STATUTORY INFORMATION

H. Young Transport 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

In the application of the company's accounting policies the directors are required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Freehold property

-

Straight line over 24 years

Plant and machinery

-

33% on cost, 25% on cost, 20% on cost and 20% on reducing balance

Fixtures and fittings

-

20% 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.

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 35 (2021 - 35 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST

At 1 April 2021

2,529,890

1,572,067

129,727

4,231,684

Additions

-

70,941

28,575

99,516

At 31 March 2022

2,529,890

1,643,008

158,302

4,331,200

DEPRECIATION

At 1 April 2021

458,450

776,082

75,595

1,310,127

Charge for year

33,345

280,526

25,367

339,238

At 31 March 2022

491,795

1,056,608

100,962

1,649,365

NET BOOK VALUE

At 31 March 2022

2,038,095

586,400

57,340

2,681,835

At 31 March 2021

2,071,440

795,985

54,132

2,921,557

Included in cost of land and buildings is freehold land of £ 1,726,527 (2021 - £ 1,726,527 ) which is not depreciated.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

1,295,099

1,159,432

Amounts owed by group undertakings

5,709

5,709

Other debtors

40,585

62,744

1,341,393

1,227,885

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

89,000

89,000

Trade creditors

525,859

648,374

Taxation and social security

319,830

143,065

Other creditors

295,424

127,261

1,230,113

1,007,700

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

586,968

707,991

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

230,968

351,991

8.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Bank loans

675,968

796,991

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2022 set out on pages two to four and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Four Oaks Taxation & Accounting Services Limited

Suite D, Astor House

282 Lichfield Road

Four Oaks

Sutton Coldfield

West Midlands

B74 2UG

3 August 2022