On the Spot Transport Ltd - Accounts

On the Spot Transport Ltd - Accounts

ON THE SPOT TRANSPORT LTD - Company Information

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Registered Number: 06972409
England and Wales

 

 

 

ON THE SPOT TRANSPORT LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2021

End date: 31 March 2022

On the Spot Transport Ltd
Contents Page
For the year ended 31 March 2022
Director Aleksandrs Krasovskis,
Registered Number 06972409
Registered Office 29 Frensham Close
Southall
Middlesex
UB1 2YF
Accountants NF Financial Solutions Ltd
29
Frensham Close
Southall
UB1 2YF
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 March 2022.
Principal activities
Principal activity of the company during the financial year was providing transport services.
Director
The director who served the company throughout the year was as follows:
Shares
Aleksandrs Krasovskis, (from 12/11/2012)100.00
Statement of director's responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Aleksandrs Krasovskis,
Director

Date approved: 16 December 2022
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 March 2022 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
NF Financial Solutions Ltd
31 March 2022



....................................................
NF Financial Solutions Ltd
29
Frensham Close
Southall
UB1 2YF
16 December 2022
3
 
 		 Notes
 		 2022
£		   2021
£
Fixed assets      
Tangible fixed assets 3 107,568    64,511 
107,568    64,511 
Current assets      
Debtors: amounts falling due within one year 4 63,987    32,973 
Cash at bank and in hand 101,077    59,408 
165,064    92,381 
Creditors: amount falling due within one year 5 (109,880)   (58,139)
Net current assets 55,184    34,242 
 
Total assets less current liabilities 162,752    98,753 
Creditors: amount falling due after more than one year 6 (46,612)   (63,576)
Net assets 116,140    35,177 
 

Capital and reserves 		     
Called up share capital 7 100    100 
Profit and loss account 116,040    35,077 
Shareholder's funds 116,140    35,177 
 


For the year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 16 December 2022 and were signed by:


--------------------------------
Aleksandrs Krasovskis,
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 April 2020 100  9,020  9,120 
Profit for the year 56,057  56,057 
Total comprehensive income for the year -  56,057  56,057 
Dividends (30,000) (30,000)
Total investments by and distributions to owners -  (30,000) (30,000)
At 31 March 2021 100  35,077  35,177 
At 01 April 2021 100  35,077  35,177 
Profit for the year 115,963  115,963 
Total comprehensive income for the year -  115,963  115,963 
Dividends (35,000) (35,000)
Total investments by and distributions to owners -  (35,000) (35,000)
At 31 March 2022 100  116,040  116,140 
5
General Information
On the Spot Transport Ltd is a private company, limited by shares, registered in England and Wales, registration number 06972409, registration address 29 Frensham Close, Southall, Middlesex, UB1 2YF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Computer Equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: 
Reducing balance method
Computer Equipment 18% Reducing Balance
2.

Average number of employees

Average number of employees during the year was 1 (2021 : 1).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Computer Equipment   Total
  £   £   £
At 01 April 2021 80,020    1,998    82,018 
Additions 66,669    -    66,669 
Disposals -    -    - 
At 31 March 2022 146,689    1,998    148,687 
Depreciation
At 01 April 2021 16,566    941    17,507 
Charge for year 23,422    190    23,612 
On disposals -    -    - 
At 31 March 2022 39,988    1,131    41,119 
Net book values
Closing balance as at 31 March 2022 106,701    867    107,568 
Opening balance as at 01 April 2021 63,454    1,057    64,511 


4.

Debtors: amounts falling due within one year

2022
£		   2021
£
Trade Debtors 63,987    32,973 
63,987    32,973 

5.

Creditors: amount falling due within one year

2022
£		   2021
£
Trade Creditors 5,035    4,413 
Corporation Tax 14,591    1,724 
PAYE & Social Security 299    372 
Other Creditors (1)   (1)
Directors' Current Accounts 69,892    44,068 
VAT 20,064    7,563 
109,880    58,139 

6.

Creditors: amount falling due after more than one year

2022
£		   2021
£
Bank Loans & Overdrafts 12,713    15,000 
Other Creditors 33,899    48,576 
46,612    63,576 

7.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
2022
£		   2021
£
100 Class A shares of £1.00 each 100    100 
100    100 

6