DOCUMENT TRANSPORTS LIMITED - Filleted accounts

DOCUMENT TRANSPORTS LIMITED - Filleted accounts

DOCUMENT TRANSPORTS LIMITED - Company Information

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Registered number
00789180
(England & Wales)
DOCUMENT TRANSPORTS LIMITED
Unaudited Filleted Accounts
for the year ended 31 December 2022
DOCUMENT TRANSPORTS LIMITED
Registered number: 00789180
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Fixed assets
Intangible assets 3 1 1
Tangible assets 4 1,471,960 1,380,114
1,471,961 1,380,115
Current assets
Stocks 3,500 3,995
Debtors 5 13,877 25,303
Cash at bank and in hand 150,338 165,000
167,715 194,298
Creditors: amounts falling due within one year 6 (532,378) (471,289)
Net current liabilities (364,663) (276,991)
Total assets less current liabilities 1,107,298 1,103,124
Creditors: amounts falling due after more than one year 7 (693,357) (822,458)
Provisions for liabilities (43,100) (27,400)
Net assets 370,841 253,266
Capital and reserves
Called up share capital 5,000 5,000
Profit and loss account 365,841 248,266
Shareholders' funds 370,841 253,266
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr H J Kanabar
Director
Approved by the board on 28 September 2023
DOCUMENT TRANSPORTS LIMITED
Notes to the Accounts
for the year ended 31 December 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods and services provided to customers
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings (excluding land) 2% per annum on a reducing balance basis
Plant, fixtures and fittings 20% per annum on a reducing balance basis
Office and IT equipment 20% per annum on a reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 18 14
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2022 1
At 31 December 2022 1
Amortisation
At 31 December 2022 -
Net book value
At 31 December 2022 1
At 31 December 2021 1
4 Tangible fixed assets
Freehold property Plant, fixtures and fittings Office and IT equipment Total
£ £ £ £
Cost
At 1 January 2022 1,376,927 303,895 31,877 1,712,699
Additions 26,254 135,431 532 162,217
At 31 December 2022 1,403,181 439,326 32,409 1,874,916
Depreciation
At 1 January 2022 135,985 173,673 22,927 332,585
Charge for the year 15,344 53,131 1,896 70,371
At 31 December 2022 151,329 226,804 24,823 402,956
Net book value
At 31 December 2022 1,251,852 212,522 7,586 1,471,960
At 31 December 2021 1,240,942 130,222 8,950 1,380,114
5 Debtors 2022 2021
£ £
Trade debtors 10,814 13,306
Other debtors - HMRC 3,063 11,997
13,877 25,303
6 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 64,075 60,537
Accruals 7,817 12,260
Trade creditors 152,770 76,145
Taxation and social security costs 4,708 2,734
Loan from Jivrat Associates Limited 276,800 30,000
Director's current account 26,208 289,613
532,378 471,289
7 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 424,624 518,725
Loans from shareholders 268,733 303,733
693,357 822,458
8 Loans 2022 2021
£ £
Creditors include:
Secured bank loans 488,699 579,262
The bank loan is secured by a charge over the company's freehold property.
9 Related party transactions
The director considers that all transactions between the company and related parties are on normal commercial terms.
10 Other information
DOCUMENT TRANSPORTS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
5 Fletton Avenue
Peterborough
Cambridge
PE2 8AX
The accounts are presented in sterling which is the functional currency of the company.
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