Paul Merrett Transport Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07951307 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2021

for

Paul Merrett Transport Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTOR:

P J Merrett

REGISTERED OFFICE:

24 Picton House

Hussar Court

Waterlooville

Hampshire

PO7 7SQ

REGISTERED NUMBER:

07951307 (England and Wales)

ACCOUNTANTS:

Johnston Wood Roach Limited

24 Picton House

Hussar Court

Waterlooville

Hampshire

PO7 7SQ

FIXED ASSETS

Tangible assets

4

117,266

43,700

CURRENT ASSETS

Debtors

5

74,434

80,632

Cash at bank and in hand

54,251

55,248

128,685

135,880

CREDITORS

Amounts falling due within one year

6

53,862

76,488

NET CURRENT ASSETS

74,823

59,392

TOTAL ASSETS LESS CURRENT LIABILITIES

192,089

103,092

CREDITORS

Amounts falling due after more than one year

7

(45,276

)

-

PROVISIONS FOR LIABILITIES

(22,281

)

(8,303

)

NET ASSETS

124,532

94,789

CAPITAL AND RESERVES

Called up share capital

8

4

4

Retained earnings

124,528

94,785

SHAREHOLDERS' FUNDS

124,532

94,789

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 by the director and authorised for issue on 15 November 2021 and were signed by:

P J Merrett - Director

1.	STATUTORY INFORMATION

Paul Merrett 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 (£).

Accounts are rounded to the nearest pound.

The accounts represent the company as an individual entity.

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 net invoiced sales of services, excluding value added tax.

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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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 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.

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 2 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2020

12,600

-

35,750

1,047

49,397

Additions

-

12,000

86,400

800

99,200

At 31 March 2021

12,600

12,000

122,150

1,847

148,597

DEPRECIATION

At 1 April 2020

3,891

-

1,490

316

5,697

Charge for year

2,177

1,000

21,886

571

25,634

At 31 March 2021

6,068

1,000

23,376

887

31,331

NET BOOK VALUE

At 31 March 2021

6,532

11,000

98,774

960

117,266

At 31 March 2020

8,709

-

34,260

731

43,700

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

74,194

72,347

Amounts owed by group undertakings

240

-

Other debtors

-

8,285

74,434

80,632

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans and overdrafts

4,724

-

Trade creditors

28,744

48,386

Taxation and social security

19,444

27,152

Other creditors

950

950

53,862

76,488

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans

45,276

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

5,286

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.21

31.3.20

value:

£

£

4

Ordinary

£1

4

4

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2021 and 31 March 2020:

31.3.21

31.3.20

£

£

P J Merrett

Balance outstanding at start of year

5,624

16,459

Amounts advanced

91,612

10,053

Amounts repaid

(97,236

)

(20,888

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

5,624

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P J Merrett.

The following reproduces the text of the report prepared for the director 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 Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2021 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Johnston Wood Roach Limited

24 Picton House

Hussar Court

Waterlooville

Hampshire

PO7 7SQ

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