M A Evans Transport Limited - Period Ending 2014-12-31

Registration number: 00946338

 

M A Evans Transport Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

M A Evans Transport Limited
Contents

Page

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

M A Evans Transport Limited
balance sheet as at 31 December 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					315,835			268,730
Investments					105,806			105,806
					421,641			374,536
Current assets
Stocks					16,586			23,358
Debtors					124,190			156,801
Cash at bank and in hand					86,310			29,017
					227,086			209,176
Creditors: Amounts falling due within one year					(255,183)			(274,723)
Net current liabilities					(28,097)			(65,547)
Total assets less current liabilities					393,544			308,989
Creditors: Amounts falling due after more than one year					(5,031)			(33,678)
Total net assets					388,513			275,311
Capital and reserves
Called up share capital		3			1,000			1,000
Profit and loss account					387,513			274,311
Shareholders' funds					388,513			275,311

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

M A Evans Transport Limited
balance sheet as at 31 December 2014
......... continued

For the year ending 31 December 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 24 September 2015 and signed on its behalf by:

.........................................
Mr J R Edwards
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

M A Evans Transport Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Going concern

At the balance sheet date the company had net current liabilities of £28,097. However, included in creditors are amounts owing from the subsidiary company of £77,130 and directors loans of £86,556. The directors are confident that the company will continue to trade at a profit and therefore believe that, with their continued support and the continued support of the subsidiary company, it is appropriate to prepare the accounts on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Asset class	Depreciation method and rate
Freehold property	2% on cost
Improvements to property	2% on cost
Plant and machinery	25% on reducing balance
Motor vehicles	25% on reducing balance

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

M A Evans Transport Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 January 2014		649,266			105,806			755,072
Additions		133,005			-			133,005
Disposals		(84,334)			-			(84,334)
At 31 December 2014		697,937			105,806			803,743
Depreciation
At 1 January 2014		380,536			-			380,536
Charge for the year		75,203			-			75,203
Eliminated on disposals		(73,637)			-			(73,637)
At 31 December 2014		382,102			-			382,102
Net book value
At 31 December 2014		315,835			105,806			421,641
At 31 December 2013		268,730			105,806			374,536

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Class of share

Holding

Principal activity

Subsidiary undertakings
The Knighton Truck Company Limited	Ordinary	100%	Sale and repair of haulage vehicles

Associates
Powys Properties Limited	Ordinary and Redeemable Preference	20%	Property rental

The loss for the financial period of The Knighton Truck Company Limited was £3,071 and the aggregate amount of capital and reserves at the end of the period was £74,679.

Page 4

M A Evans Transport Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		1,000			1,000			1,000			1,000

Page 5