Craven Transport Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04852613 (England and Wales)

CRAVEN TRANSPORT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

A R Craven

Mrs J M Craven

SECRETARY:

Mrs J M Craven

REGISTERED OFFICE:

18 Northgate

Sleaford

Lincolnshire

NG34 7BJ

BUSINESS ADDRESS:

Poplar Farm

Main Road

Stickford

Boston

Lincolnshire

PE22 8EL

REGISTERED NUMBER:

04852613 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

18 Northgate

Sleaford

Lincolnshire

NG34 7BJ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

10,609

8,982

10,609

8,982

CURRENT ASSETS

Stocks

59,500

25,540

Debtors

6

666,091

755,453

Cash at bank

725,466

859,858

1,451,057

1,640,851

CREDITORS

Amounts falling due within one year

7

287,643

529,787

NET CURRENT ASSETS

1,163,414

1,111,064

TOTAL ASSETS LESS CURRENT LIABILITIES

1,174,023

1,120,046

CREDITORS

Amounts falling due after more than one year

8

-

(43,333

)

PROVISIONS FOR LIABILITIES

(1,344

)

(888

)

NET ASSETS

1,172,679

1,075,825

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

1,172,678

1,075,824

SHAREHOLDERS' FUNDS

1,172,679

1,075,825

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 and authorised for issue by the Board of Directors and authorised for issue on 12 August 2022 and were signed on its behalf by:

A R Craven - Director

1.	STATUTORY INFORMATION

Craven 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

Goodwill

Goodwill, being the amount paid in connection with the aquisition of a business in 2010, has been fully amortised.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance and 20% on reducing balance

Stocks

Stocks are stated at the lower of cost and fair value less costs to complete and sell after making due allowances for slow moving and obsolete 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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

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 24 (2021 - 26 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2021

and 31 March 2022

40,000

AMORTISATION

At 1 April 2021

and 31 March 2022

40,000

NET BOOK VALUE

At 31 March 2022

-

At 31 March 2021

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2021

43,572

Additions

4,500

At 31 March 2022

48,072

DEPRECIATION

At 1 April 2021

34,590

Charge for year

2,873

At 31 March 2022

37,463

NET BOOK VALUE

At 31 March 2022

10,609

At 31 March 2021

8,982

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

607,019

508,714

Other debtors

59,072

246,739

666,091

755,453

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

99,104

339,006

Taxation and social security

162,351

158,012

Other creditors

26,188

32,769

287,643

529,787

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Other creditors

-

43,333

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

1

Ordinary shares

£1

1

1

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in creditors is an amount of £531 (2021 : £2,783) lent to the company by the directors. This loan was unsecured, interest free and repayable on demand.

Interest is charged at the HMRC official rate of interest.

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 Statement of Financial Position. 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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Craven Transport Limited for the year ended 31 March 2022 which comprise the Income Statement, Statement of Financial Position 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Craven Transport Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Craven Transport Limited and state those matters that we have agreed to state to the Board of Directors of Craven Transport Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Craven Transport Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Craven Transport Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Craven Transport Limited. You consider that Craven Transport Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Craven Transport Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Duncan & Toplis Limited

18 Northgate

Sleaford

Lincolnshire

NG34 7BJ

Date: .............................................