CMH Transport Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC195532 (Scotland)

Financial Statements for the Year Ended 31 July 2021

for

CMH Transport Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C Howat

Mrs M Howat

SECRETARY:

Www.firstregistrars.co.uk Limited

REGISTERED OFFICE:

AFM House

6 Crofthead Road

Prestwick

Ayrshire

KA9 1BR

REGISTERED NUMBER:

SC195532 (Scotland)

ACCOUNTANTS:

Colin McNally B.A. Hon's; F.C.M.A

Parris and McNally Limited

6 Crofthead Road

Prestwick

Ayrshire

KA9 1HW

FIXED ASSETS

Tangible assets

4

121,343

110,902

CURRENT ASSETS

Stocks

5

6,020

32,301

Debtors

6

79,334

105,326

Cash at bank and in hand

41,766

44,485

127,120

182,112

CREDITORS

Amounts falling due within one year

7

(180,263

)

(230,148

)

NET CURRENT LIABILITIES

(53,143

)

(48,036

)

TOTAL ASSETS LESS CURRENT LIABILITIES

68,200

62,866

PROVISIONS FOR LIABILITIES

9

(21,072

)

(21,072

)

NET ASSETS

47,128

41,794

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

47,028

41,694

SHAREHOLDERS' FUNDS

47,128

41,794

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 13 January 2022 and were signed on its behalf by:

Mr C Howat - Director

1.	STATUTORY INFORMATION

CMH Transport Limited is a private company, limited by shares , registered in Scotland. 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.

Turnover

Turnover represents net invoiced sale for transportation 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

-

10% on cost

Computer equipment

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 7 (2020 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 August 2020

417,560

4,651

27,598

4,529

454,338

Additions

104,830

-

-

-

104,830

Disposals

(266,477

)

-

(20,898

)

(2,124

)

(289,499

)

At 31 July 2021

255,913

4,651

6,700

2,405

269,669

DEPRECIATION

At 1 August 2020

317,403

2,003

19,939

4,091

343,436

Charge for year

38,483

1,103

670

109

40,365

Eliminated on disposal

(215,422

)

-

(17,929

)

(2,124

)

(235,475

)

At 31 July 2021

140,464

3,106

2,680

2,076

148,326

NET BOOK VALUE

At 31 July 2021

115,449

1,545

4,020

329

121,343

At 31 July 2020

100,157

2,648

7,659

438

110,902

5.

STOCKS

31.7.21

31.7.20

£

£

Work-in-progress

6,020

32,301

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.21

31.7.20

£

£

Trade debtors

78,869

104,131

Other debtors

52

-

Prepayments

413

1,195

79,334

105,326

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.21

31.7.20

£

£

Bank loans and overdrafts (see note 8)

-

711

Trade creditors

37,760

95,148

Tax

-

15,143

Social security and other taxes

1,676

1,570

VAT

15,179

18,519

Other creditors

50,041

114

Directors' loan accounts

75,387

98,690

Accrued expenses

220

253

180,263

230,148

8.

LOANS

An analysis of the maturity of loans is given below:

31.7.21

31.7.20

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

-

711

9.	PROVISIONS FOR LIABILITIES

31.7.21

31.7.20

£

£

Deferred tax

21,072

21,072

Deferred

tax

£

Balance at 1 August 2020

21,072

Balance at 31 July 2021

21,072

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.21

31.7.20

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Retained

earnings

£

At 1 August 2020

41,694

Profit for the year

5,334

At 31 July 2021

47,028

12.	RELATED PARTY DISCLOSURES

At 31st July 2021 CMH Transport Limited owed Mr H C Howat, Director, £37,693 (2020: £49,345) The loan is interest free and has no fixed date for repayment.

At 31st July 2021 CMH Transport Limited owed Mrs M Howat, Director, £37,693 (2020: £49,345) The loan is interest free and has no fixed date for repayment.

13.	ULTIMATE CONTROLLING PARTY

CMH Transport Limited is under the ultimate control of Mr C Howat and Mrs M Howat (Directors) for the whole of the year to 31st July 2021.