C.B.G. Transport Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04312044 (England and Wales)

C.B.G. TRANSPORT LTD

Unaudited Financial Statements

for the Year Ended 28 February 2021

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

to

4

Notes to the Financial Statements

5

to

8

DIRECTORS:

C Hartwell

C J Cummings

SECRETARY:

C J Cummings

REGISTERED OFFICE:

Birmingham Road

Blackminster

Evesham

Worcestershire

WR11 7TD

REGISTERED NUMBER:

04312044 (England and Wales)

ACCOUNTANTS:

Haines Watts Worcester Limited

First Floor

Saggar House

Princes Drive

Worcester

WR1 2PG

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 of C.B.G. Transport Ltd for the year ended 28 February 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of C.B.G. Transport Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of C.B.G. Transport Ltd and state those matters that we have agreed to state to the Board of Directors of C.B.G. Transport Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than C.B.G. Transport Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that C.B.G. Transport Ltd 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 C.B.G. Transport Ltd. You consider that C.B.G. Transport Ltd 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 C.B.G. Transport Ltd. 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.

Haines Watts Worcester Limited

First Floor

Saggar House

Princes Drive

Worcester

WR1 2PG

10 June 2021

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

72,277

83,325

Investments

6

-

-

72,277

83,325

CURRENT ASSETS

Debtors

7

316,383

384,982

Cash at bank and in hand

400,069

351,337

716,452

736,319

CREDITORS

Amounts falling due within one year

8

(129,298

)

(173,257

)

NET CURRENT ASSETS

587,154

563,062

TOTAL ASSETS LESS CURRENT LIABILITIES

659,431

646,387

PROVISIONS FOR LIABILITIES

(12,445

)

(14,261

)

NET ASSETS

646,986

632,126

CAPITAL AND RESERVES

Called up share capital

90

90

Retained earnings

646,896

632,036

SHAREHOLDERS' FUNDS

646,986

632,126

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 June 2021 and were signed on its behalf by:

C J Cummings - Director

1.	STATUTORY INFORMATION

C.B.G. Transport Ltd 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.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. The company adopted FRS 102 in the current year and reconciliations of how the transition to FRS 102 has affected the reported financial position and performance is shown on pages 18 to 20.

Turnover

Turnover represents the net invoiced provision of services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002 has been amortised evenly over its estimated useful life of 10 years. The goodwill has been fully amortised.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

Motor vehicles

-

25% on reducing balance

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.

Going concern

The financial statements have been prepared on a going concern basis and no material uncertainties exist that impact on the company's ability to trade.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2020 - 20 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2020

and 28 February 2021

50,000

AMORTISATION

At 1 March 2020

and 28 February 2021

50,000

NET BOOK VALUE

At 28 February 2021

-

At 29 February 2020

-

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 March 2020

and 28 February 2021

86,317

27,678

61,221

175,216

DEPRECIATION

At 1 March 2020

23,018

20,849

48,024

91,891

Charge for year

6,042

1,707

3,299

11,048

At 28 February 2021

29,060

22,556

51,323

102,939

NET BOOK VALUE

At 28 February 2021

57,257

5,122

9,898

72,277

At 29 February 2020

63,299

6,829

13,197

83,325

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 March 2020

9,482

Disposals

(9,482

)

At 28 February 2021

-

PROVISIONS

At 1 March 2020

9,482

Eliminated on disposal

(9,482

)

At 28 February 2021

-

NET BOOK VALUE

At 28 February 2021

-

At 29 February 2020

-

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

301,392

373,556

Prepayments

14,991

11,426

316,383

384,982

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

82,463

110,181

Tax

5,367

10,074

Social security and other taxes

9,860

13,256

VAT

16,778

24,532

Directors' current accounts

1,219

643

Accrued expenses

13,611

14,571

129,298

173,257