ACCOUNTS - Final Accounts

MARTIN RANDALL TRANSPORT LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-312022-01-01falseNo description of principal activity11falsetrue 04629334 2022-01-01 2022-12-31 04629334 2021-01-01 2021-12-31 04629334 2022-12-31 04629334 2021-12-31 04629334 2021-01-01 04629334 c:Director1 2022-01-01 2022-12-31 04629334 d:CurrentFinancialInstruments 2022-12-31 04629334 d:CurrentFinancialInstruments 2021-12-31 04629334 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04629334 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 04629334 d:ShareCapital 2022-12-31 04629334 d:ShareCapital 2021-12-31 04629334 d:ShareCapital 2021-01-01 04629334 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 04629334 d:RetainedEarningsAccumulatedLosses 2022-12-31 04629334 d:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 04629334 d:RetainedEarningsAccumulatedLosses 2021-12-31 04629334 d:RetainedEarningsAccumulatedLosses 2021-01-01 04629334 c:FRS102 2022-01-01 2022-12-31 04629334 c:Audited 2022-01-01 2022-12-31 04629334 c:FullAccounts 2022-01-01 2022-12-31 04629334 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 04629334 c:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 04629334 2 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 04629334

MARTIN RANDALL TRANSPORT LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

MARTIN RANDALL TRANSPORT LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MARTIN RANDALL TRANSPORT LIMITED

UNDER SECTION 449 OF THE COMPANIES ACT 2006

Opinion

We have audited the financial statements of Martin Randall Transport Limited (the 'Company') for the year ended 31 December 2022, which comprise the Statement of Financial Position, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the Company's affairs as at 31 December 2022 and of its profit for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

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MARTIN RANDALL TRANSPORT LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MARTIN RANDALL TRANSPORT LIMITED (CONTINUED)

UNDER SECTION 449 OF THE COMPANIES ACT 2006

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The director is responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Director's Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Director's Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

∙the financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of director's remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit; or

∙the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Director's Report and from the requirement to prepare a Strategic Report.

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MARTIN RANDALL TRANSPORT LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MARTIN RANDALL TRANSPORT LIMITED (CONTINUED)

UNDER SECTION 449 OF THE COMPANIES ACT 2006

Responsibilities of directors

As explained more fully in the Director's Responsibilities Statement set out on page 1, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- We exercise professional judgment and maintain professional skepticism throughout the audit;
- We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the deliberate override of internal control;
- We obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of internal control;
- We evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made;
- We assess the risk of management override of controls, including testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business;
- We review the scope of the Company's compliance with its key regulator, the Civil Aviation Authority ("CAA"), and sample test relevant documentation to assess this and the effectiveness of its control environment;
- We request and review the minutes of management meetings, and assess any matters identified not already provided for or disclosed that may materially impact the financial statements;
- We conclude on the appropriateness of the director's use of the going concern basis of accounting and, based

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MARTIN RANDALL TRANSPORT LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MARTIN RANDALL TRANSPORT LIMITED (CONTINUED)

UNDER SECTION 449 OF THE COMPANIES ACT 2006

on the evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the entity's ability to continue as a going concern. if we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the entity to cease to continue as a going concern.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

M S Caldicott ACA FCCA CTA (Senior Statutory Auditor)

for and on behalf of

White Hart Associates (London) Limited

Chartered Accountants and Statutory Auditors

2nd Floor, Nucleus House

2 Lower Mortlake Road

Richmond

TW9 2JA

29 June 2023

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MARTIN RANDALL TRANSPORT LIMITED

REGISTERED NUMBER: 04629334

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2022

		2022		2021
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	32,629		115,631
Cash at bank and in hand	5	10,614		25,536
		43,243		141,167
Creditors: amounts falling due within one year	6	(8,597)		(297,961)
Net current assets/(liabilities)			34,646		(156,794)
Total assets less current liabilities			34,646		(156,794)

Net assets/(liabilities)			34,646		(156,794)

Capital and reserves
Called up share capital	2,000	2,000
Profit and loss account	32,646	(158,794)
	34,646	(156,794)

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 June 2023.

................................................

M D V Randall

Director

The notes on pages 7 to 10 form part of these financial statements.

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MARTIN RANDALL TRANSPORT LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2022

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2021	2,000	(165,857)	(163,857)
Comprehensive income for the year
Profit for the year	-	7,063	7,063

At 1 January 2022	2,000	(158,794)	(156,794)
Comprehensive income for the year
Profit for the year	-	191,440	191,440
At 31 December 2022	2,000	32,646	34,646

The notes on pages 7 to 10 form part of these financial statements.

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MARTIN RANDALL TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1.	General information

Martin Randall Transport Limited is a company limited by shares, incorporated in England and Wales. The address of its registered office is 83 Purser's Cross Road, London, SW6 4QZ.
The company's principal activity is that of a transport provider to its holding company, Martin Randall Travel Limited, under the TOMS VAT Transport Company Scheme. Presentation currency is pound sterling.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The group consolidated financial statements for 2022 present a markedly different situation to the previous two years with significantly increased revenues and profits. The measures taken by Directors in 2020 and 2021 to mitigate the impact of Covid-19 proved sensible and appropriate.
The Directors continue to monitor the Group’s financial position closely. Cashflow headroom well exceeds the requirements of the CAA and the Group can pay debts as they fall due; forward bookings are strong right through the year, and into 2024.
As a result, the directors believe that it is still appropriate to apply the going concern basis for the foreseeable future.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Turnover represents amounts receivable for flights and transport costs sold to the parent company, net of value added tax and trade discounts on the date of departure of travel.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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MARTIN RANDALL TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).

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MARTIN RANDALL TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

Debtors

					2022	2021
					£	£


Amounts owed by group undertakings	24,920	-
Other debtors	280	74,380
Prepayments and accrued income	7,429	41,251
	32,629	115,631

5.	Cash and cash equivalents
		2022	2021
		£	£

Cash at bank and in hand	10,614	25,536
	10,614	25,536

6.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Amounts owed to group undertakings	-	287,591
Accruals and deferred income	8,597	10,370
	8,597	297,961

7.	Contingent liabilities

There is an unlimited intercompany guarantee between the company and Martin Randall Travel Limited in favour of the bank.

8.	Related party transactions
	The company has taken advantage of the exemption in Financial Reporting Standard 102 Section 1A from the requirement to disclose transactions with group companies on the grounds that consolidated financial statements are prepared by the parent company and are publicly available.

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MARTIN RANDALL TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

9.	Controlling party

The immediate and ultimate parent undertaking is Martin Randall Travel Limited by virtue of its holding the entire issued share capital of the company.
Martin Randall Travel Limited is the smallest and largest group to consolidate these financial statements. Copies of the consolidated financial statements can be obtained from its registered office at 83 Purser's Cross Road, London, SW6 4QZ.
In the opinion of the directors, the company has no ultimate controlling party.

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