Welch Hire Limited Filleted accounts for Companies House (small and micro)
Welch Hire Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
03527560
|
|
|
|
Statement of Financial Position |
2021 |
2020 |
|
Note |
£ |
£ |
Fixed assets
Tangible assets |
5 |
|
|
Current assets
Debtors |
6 |
|
|
Cash at bank and in hand |
|
|
|
ÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄÄÄ |
||
|
|
||
Creditors: amounts falling due within one year |
7 |
|
|
ÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄÄÄ |
||
Net current (liabilities)/assets |
(
|
|
|
ÄÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄÄ |
||
Total assets less current liabilities |
(
|
|
|
Creditors: amounts falling due after more than one year |
8 |
|
– |
Provisions |
|
|
ÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄÄ |
|
Net (liabilities)/assets |
(
|
|
ÍÍÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍÍ |
|
Capital and reserves
Called up share capital |
|
|
Profit and loss account |
(
|
|
ÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄÄ |
|
Shareholders (deficit)/funds |
(
|
|
ÍÍÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍÍ |
|
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
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
.
|
Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
27 December 2021
, and are signed on behalf of the board by:
|
Director |
Company registration number:
03527560
|
Notes to the Financial Statements |
Year ended 31 March 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 19, Parrett Way, Colley Lane, Bridgwater, Somerset, TA6 5LB. The principal activity of the company is freight transport.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.
Revenue recognition
Taxation
Foreign currencies
Tangible assets
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:
Plant and machinery |
- |
|
|
Fixtures and fittings |
- |
|
|
Equipment |
- |
|
|
Impairment of fixed assets
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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Financial instruments
A financial asset or a financial liability is recognised only when the entity 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.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
13
(2020:
13
).
5.
Tangible assets
Plant and machinery |
Fixtures and fittings |
Equipment |
Total |
|
£ |
£ |
£ |
£ |
|
Cost |
||||
At 1 April 2020 and 31 March 2021 |
|
|
|
|
ÍÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍÍ |
|
Depreciation |
||||
At 1 April 2020 |
|
|
|
|
Charge for the year |
|
|
|
|
ÄÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄÄ |
|
At 31 March 2021 |
|
|
|
|
ÍÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍÍ |
|
Carrying amount |
||||
At 31 March 2021 |
|
– |
|
|
ÍÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍÍ |
|
At 31 March 2020 |
|
|
|
|
ÍÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍÍ |
|
6.
Debtors
2021 |
2020 |
|
£ |
£ |
|
Trade debtors |
|
|
Other debtors |
|
|
ÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄÄÄ |
|
|
|
|
ÍÍÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍÍÍ |
|
7.
Creditors:
amounts falling due within one year
2021 |
2020 |
|
£ |
£ |
|
Bank loans and overdrafts |
– |
|
Trade creditors |
|
|
Corporation tax |
|
|
Social security and other taxes |
|
|
Other creditors |
|
|
ÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄÄÄ |
|
|
|
|
ÍÍÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍÍÍ |
|
8.
Creditors:
amounts falling due after more than one year
2021 |
2020 |
|
£ |
£ |
|
Bank loans and overdrafts |
|
– |
ÍÍÍÍÍÍÍÍÍ |
ÍÍÍÍ |
|
9.
Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2021 |
|||||
Balance brought forward |
Advances/ (credits) to the directors |
Amounts repaid |
Balance outstanding |
||
£ |
£ |
£ |
£ |
||
|
|
– |
(
|
|
|
ÍÍÍÍÍÍÍ |
ÍÍÍÍ |
ÍÍÍÍ |
ÍÍÍÍÍÍÍ |
||
2020 |
|||||
Balance brought forward |
Advances/ (credits) to the directors |
Amounts repaid |
Balance outstanding |
||
£ |
£ |
£ |
£ |
||
|
– |
|
– |
|
|
ÍÍÍÍ |
ÍÍÍÍÍÍÍ |
ÍÍÍÍ |
ÍÍÍÍÍÍÍ |
||
The above loan is interest free.