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

REGISTERED NUMBER: 02994850 (England and Wales)

Financial Statements

for the Year Ended 31 December 2021

for

Ellis Transport Limited

Page

Company Information

1

Report of the Accountants

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

M S Ellis

Mrs T K Ellis

SECRETARY:

Mrs T K Ellis

REGISTERED OFFICE:

701 Stonehouse Park

Sperry Way

Stonehouse

Gloucestershire

GL10 3UT

REGISTERED NUMBER:

02994850 (England and Wales)

ACCOUNTANTS:

GCSD Accountants Limited

701 Stonehouse Park

Sperry Way

Stonehouse

Gloucestershire

GL10 3UT

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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements and the related notes from the company's accounting records and from information and explanations you have given us.

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

It is your duty to ensure that the Company 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. You consider that the Company 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 the Company. 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.

GCSD Accountants Limited

3 September 2022

FIXED ASSETS

Tangible assets

4

556,402

1,291,106

CURRENT ASSETS

Debtors

5

21,850

384,189

Cash at bank

1,444,044

622,026

1,465,894

1,006,215

CREDITORS

Amounts falling due within one year

6

186,109

409,200

NET CURRENT ASSETS

1,279,785

597,015

TOTAL ASSETS LESS CURRENT LIABILITIES

1,836,187

1,888,121

CREDITORS

Amounts falling due after more than one year

7

-

(50,779

)

PROVISIONS FOR LIABILITIES

(5,043

)

(130,987

)

NET ASSETS

1,831,144

1,706,355

CAPITAL AND RESERVES

Called up share capital

100,000

100,000

Retained earnings

1,731,144

1,606,355

SHAREHOLDERS' FUNDS

1,831,144

1,706,355

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2022 and were signed on its behalf by:

M S Ellis - Director

1.	STATUTORY INFORMATION

Ellis 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.

Turnover

Turnover represents amounts invoiced in respect of work carried out, excluding value added tax.

Government grants

Coronavirus Job Retention Scheme Grants have been recognised as income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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

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 15 (2020 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Lorries,

Freehold

Leasehold

vans &

property

improvements

trailers

£

£

£

COST

At 1 January 2021

645,099

132,858

2,139,894

Disposals

-

-

(1,936,806

)

At 31 December 2021

645,099

132,858

203,088

DEPRECIATION

At 1 January 2021

107,811

111,595

1,415,316

Charge for year

12,902

10,631

6,848

Eliminated on disposal

-

-

(1,239,620

)

At 31 December 2021

120,713

122,226

182,544

NET BOOK VALUE

At 31 December 2021

524,386

10,632

20,544

At 31 December 2020

537,288

21,263

724,578

Plant &

Office

equipment

equipment

Totals

£

£

£

COST

At 1 January 2021

35,840

11,708

2,965,399

Disposals

(24,581

)

(11,708

)

(1,973,095

)

At 31 December 2021

11,259

-

992,304

DEPRECIATION

At 1 January 2021

29,798

9,773

1,674,293

Charge for year

284

-

30,665

Eliminated on disposal

(19,663

)

(9,773

)

(1,269,056

)

At 31 December 2021

10,419

-

435,902

NET BOOK VALUE

At 31 December 2021

840

-

556,402

At 31 December 2020

6,042

1,935

1,291,106

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

21,850

330,025

Other debtors

-

54,164

21,850

384,189

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Hire purchase contracts

-

184,698

Trade creditors

-

131,721

Taxation and social security

180,159

74,063

Other creditors

5,950

18,718

186,109

409,200

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Hire purchase contracts

-

50,779

8.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Hire purchase contracts

-

235,477

The bank overdraft and loan are secured by means of a fixed and floating charge over the assets of the company. Hire purchase and finance leases are secured on the fixed assets to which they relate.