E. Massey (Transport) Limited 31/01/2022 iXBRL

E. MASSEY (TRANSPORT) LIMITED - Company Information

21 31/01/2022 2022-01-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2021-02-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 01272136 2021-02-01 2022-01-31 01272136 2022-01-31 01272136 2021-01-31 01272136 2020-02-01 2021-01-31 01272136 2021-01-31 01272136 core:LandBuildings core:LongLeaseholdAssets 2021-02-01 2022-01-31 01272136 core:PlantMachinery 2021-02-01 2022-01-31 01272136 core:MotorVehicles 2021-02-01 2022-01-31 01272136 bus:RegisteredOffice 2021-02-01 2022-01-31 01272136 bus:LeadAgentIfApplicable 2021-02-01 2022-01-31 01272136 bus:Director1 2021-02-01 2022-01-31 01272136 bus:Director2 2021-02-01 2022-01-31 01272136 bus:Director3 2021-02-01 2022-01-31 01272136 bus:CompanySecretary1 2021-02-01 2022-01-31 01272136 core:LandBuildings core:LongLeaseholdAssets 2021-01-31 01272136 core:PlantMachinery 2021-01-31 01272136 core:MotorVehicles 2021-01-31 01272136 core:LandBuildings core:LongLeaseholdAssets 2022-01-31 01272136 core:PlantMachinery 2022-01-31 01272136 core:MotorVehicles 2022-01-31 01272136 core:WithinOneYear 2022-01-31 01272136 core:WithinOneYear 2021-01-31 01272136 core:AfterOneYear 2022-01-31 01272136 core:AfterOneYear 2021-01-31 01272136 core:ShareCapital 2022-01-31 01272136 core:ShareCapital 2021-01-31 01272136 core:RetainedEarningsAccumulatedLosses 2022-01-31 01272136 core:RetainedEarningsAccumulatedLosses 2021-01-31 01272136 core:LandBuildings core:LongLeaseholdAssets 2021-01-31 01272136 core:PlantMachinery 2021-01-31 01272136 core:MotorVehicles 2021-01-31 01272136 bus:SmallEntities 2021-02-01 2022-01-31 01272136 bus:AuditExemptWithAccountantsReport 2021-02-01 2022-01-31 01272136 bus:FullAccounts 2021-02-01 2022-01-31 01272136 bus:SmallCompaniesRegimeForAccounts 2021-02-01 2022-01-31 01272136 bus:PrivateLimitedCompanyLtd 2021-02-01 2022-01-31

Company registration number: 01272136

E. Massey (Transport) Limited

Unaudited filleted financial statements

31 January 2022

E. Massey (Transport) Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

E. Massey (Transport) Limited

Directors and other information


Directors	A J Grayston	(Appointed 26 May 2021)
	J R Grayston	(Appointed 26 May 2021)
	S Thomas	(Appointed 1 January 2022)


Secretary	A J Grayston


Company number	01272136


Registered office	Clares Farm, Warrington Road
	Risley
	Warrington
	Lancs
	WA3 6BE


Business address	Clares Farm, Warringtom Road
	Risley
	Warrington
	Lancashire
	WA3 6BE


Accountants	Turner and Brown Limited
	105 Garstang Road
	Preston
	Lancs
	PR1 1LD

E. Massey (Transport) Limited

Chartered accountants report to the board of directors on the preparation of the

unaudited statutory financial statements of E. Massey (Transport) Limited

Year ended 31 January 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of E. Massey (Transport) Limited for the year ended 31 January 2022 which comprise the statement of financial position and 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 of E. Massey (Transport) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of E. Massey (Transport) Limited and state those matters that we have agreed to state to the board of directors of E. Massey (Transport) Limited as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than E. Massey (Transport) Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that E. Massey (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 E. Massey (Transport) Limited. You consider that E. Massey (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 E. Massey (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.

Turner and Brown Limited

Chartered Accountants

105 Garstang Road

Preston

Lancs

PR1 1LD

E. Massey (Transport) Limited

Statement of financial position

31 January 2022

		2022		2021
	Note	£	£	£	£

Fixed assets
Tangible assets	5	469,894		345,152
		_______		_______
			469,894		345,152

Current assets
Stocks		4,175		4,175
Debtors	6	1,219,858		333,443
Cash at bank and in hand		29,851		238,359
		_______		_______
		1,253,884		575,977
Creditors: amounts falling due
within one year	7	( 503,983)		( 193,231)
		_______		_______
Net current assets			749,901		382,746
			_______		_______
Total assets less current liabilities			1,219,795		727,898

Creditors: amounts falling due
after more than one year	8		( 334,353)		( 38,222)

Provisions for liabilities			( 76,550)		( 52,779)

			_______		_______
Net assets			808,892		636,897
			_______		_______

Capital and reserves
Called up share capital			200		200
Profit and loss account			808,692		636,697
			_______		_______
Shareholders funds			808,892		636,897
			_______		_______

For the year ending 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 25 October 2022 , and are signed on behalf of the board by:

A J Grayston

Director

Company registration number: 01272136

E. Massey (Transport) Limited

Notes to the financial statements

Year ended 31 January 2022

1. General information

The company is a private company limited by shares, registered in England. The address of the registered office is Clares Farm, Warrington Road, Risley, Warrington, Lancs, WA3 6BE.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Where group relief has been received by the company for no payment this has been utilised to reduce the tax charge in the current year and will reduce the tax expense and liability with no further adjustments.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Long leasehold property	-	15 %	reducing balance
Plant and machinery	-	25 %	reducing balance
Motor vehicles	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Hire purchase and finance leases

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

Government 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.

Government grants are recognised using the accrual model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 21 (2021: 19 ).

5. Tangible assets

	Long leasehold property	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost
At 1 February 2021	138,367	362,091	674,164	1,174,622
Additions	-	14,881	212,083	226,964
Disposals	( 22,523)	( 171,616)	( 275,259)	( 469,398)
Transfers	75,700	( 78,795)	3,095	-
	_______	_______	_______	_______
At 31 January 2022	191,544	126,561	614,083	932,188
	_______	_______	_______	_______
Depreciation
At 1 February 2021	70,999	293,109	465,362	829,470
Charge for the year	13,473	6,897	72,529	92,899
Disposals	( 22,153)	( 164,251)	( 273,671)	( 460,075)
Transfers	62,227	( 34,070)	( 28,157)	-
	_______	_______	_______	_______
At 31 January 2022	124,546	101,685	236,063	462,294
	_______	_______	_______	_______
Carrying amount
At 31 January 2022	66,998	24,876	378,020	469,894
	_______	_______	_______	_______
At 31 January 2021	67,368	68,982	208,802	345,152
	_______	_______	_______	_______

6. Debtors

	2022	2021
	£	£
Trade debtors	312,105	306,217
Other debtors	907,753	27,226
	_______	_______
	1,219,858	333,443
	_______	_______

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	44,837	-
Trade creditors	269,736	51,018
Taxation and social security	83,185	104,775
Other creditors	106,225	37,438
	_______	_______
	503,983	193,231
	_______	_______

8. Creditors: amounts falling due after more than one year

	2022	2021
	£	£
Bank loans and overdrafts	205,164	-
Other creditors	129,189	38,222
	_______	_______
	334,353	38,222
	_______	_______

9. Related party transactions

During the year an interest free loan of £860,958 was advanced to the company's parent company. This loan was interest free and repayable on demand. The parent company also surrendered £1,513 of tax losses for group relief for which no payment was made.