COLES_TRANSPORT_LIMITED - Accounts

COLES TRANSPORT LIMITED - Company Information

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Company Registration No. 5340395 (England and Wales)

COLES TRANSPORT LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2015

COLES TRANSPORT LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

3 - 4

COLES TRANSPORT LIMITED

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF COLES TRANSPORT LIMITED FOR THE YEAR ENDED 31 MARCH 2015

- 1 -

The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Coles Transport Limited for the year ended 31 March 2015 set out on pages 3 to 8 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, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.

This report is made solely to the Board of Directors of Coles Transport Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Coles Transport Limited and state those matters that we have agreed to state to the Board of Directors of Coles Transport Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Coles Transport Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Coles Transport Limited 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 Coles Transport Limited. You consider that Coles Transport Limited 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 Coles Transport Limited. 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.

23 November 2015

Ellacotts LLP

Countrywide House

Chartered Accountants

23 West Bar

Banbury

Oxfordshire

England

OX16 9SA

COLES TRANSPORT LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 2 -

2015

2014

Notes

Fixed assets

Tangible assets

416,676

428,579

Current assets

Stocks

16,679

29,538

Debtors

244,230

128,058

Cash at bank and in hand

219,929

130,969

480,838

288,565

Creditors: amounts falling due within one year

(695,876)

(641,705)

Net current liabilities

(215,038)

(353,140)

Total assets less current liabilities

201,638

75,439

Creditors: amounts falling due after more than one year

(10,000)

(34,626)

191,638

40,813

Capital and reserves

Called up share capital

100

Profit and loss account

191,538

40,713

Shareholders' funds

191,638

40,813

For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 20 November 2015

Mr G N Coles

Director

Company Registration No. 5340395

COLES TRANSPORT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Leasehold property

2% on cost

Fixtures & fittings

25% on reducing balance

Motor vehicles

10% on reducing balance

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

COLES TRANSPORT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 4 -

Fixed assets

Tangible assets

Cost

At 1 April 2014

717,643

Additions

32,000

At 31 March 2015

749,643

Depreciation

At 1 April 2014

289,064

Charge for the year

43,903

At 31 March 2015

332,967

Net book value

At 31 March 2015

416,676

At 31 March 2014

428,579

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary of £1 each

100