Nigel Moss Transport Limited Filleted accounts for Companies House (small and micro)

NIGEL MOSS TRANSPORT LIMITED - Company Information

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Nigel Moss Transport Limited

Unaudited financial statements

30 September 2023

Company Registration Number 05893702

Nigel Moss Transport Limited

Financial statements

year ended 30 September 2023

Contents	Pages

Balance sheet	1 to 2

Notes to the financial statements	3 to 7

Nigel Moss Transport Limited

Balance sheet

30 September 2023

		2022
Note	£		£

Fixed assets

Tangible assets	5		287,030		243,174

Current assets

Debtors	6	123,484	157,822
Investments	7	663,702	575,601
Cash at bank and in hand		645,012	610,281
		------------	------------
		1,432,198	1,343,704

Creditors: amounts falling due within one year	8	( 166,299)		( 207,901)
		------------		------------
Net current assets			1,265,899		1,135,803
			------------		------------
Total assets less current liabilities			1,552,929		1,378,977

Provisions	( 78,042)	( 52,998)
	------------	------------
Net assets	1,474,887	1,325,979
	------------	------------

Capital and reserves

Called up share capital	10	10
Profit and loss account	1,474,877	1,325,969
	------------	------------
Shareholders funds	1,474,887	1,325,979
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account and director's report have not been delivered.

For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Nigel Moss Transport Limited

Balance sheet (continued)

30 September 2023

These financial statements were approved by the board of directors and authorised for issue on 29 February 2024 , and are signed on behalf of the board by:

Mr N Moss
Director

Company registration number: 05893702

Nigel Moss Transport Limited

Notes to the financial statements

year ended 30 September 2023

1. Statement of compliance

These financial statements have been prepared in compliance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

2. Accounting policies

2.1 Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

2.2 Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

2.3 Income tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exception: Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date .

2.4 Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	25% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

2.5 Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

2.6 Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Land & buildings	-	3% straight line
Plant & machinery	-	15% reducing balance
Fixtures & fittings	-	15% reducing balance
Motor vehicles	-	25% reducing balance
Office equipment	-	25% reducing balance

2.7 Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units .

2.8 Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

3. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).

4. Intangible assets

	Goodwill

Cost
At 1 Oct 2022 and 30 Sep 2023	12,000
	--------
Amortisation
At 1 Oct 2022 and 30 Sep 2023	12,000
	--------
Carrying amount
At 30 September 2023	–
	--------

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total

Cost
At 1 Oct 2022	42,497	26,380	59,974	299,785	2,149	430,785
Additions	–	13,208	–	124,020	2,000	139,228
Disposals	–	–	–	( 87,200)	( 366)	( 87,566)
	--------	--------	--------	---------	-------	---------
At 30 Sep 2023	42,497	39,588	59,974	336,605	3,783	482,447
	--------	--------	--------	---------	-------	---------
Depreciation
At 1 Oct 2022	2,657	20,559	36,908	126,323	1,164	187,611
Charge for the year	1,275	1,472	3,461	48,768	446	55,422
Disposals	–	–	–	( 47,347)	( 269)	( 47,616)
	--------	--------	--------	---------	-------	---------
At 30 Sep 2023	3,932	22,031	40,369	127,744	1,341	195,417
	--------	--------	--------	---------	-------	---------
Carrying amount
At 30 Sep 2023	38,565	17,557	19,605	208,861	2,442	287,030
	--------	--------	--------	---------	-------	---------
At 30 Sep 2022	39,840	5,821	23,066	173,462	985	243,174
	--------	--------	--------	---------	-------	---------

6. Debtors

	2023	2022
	£	£

Trade debtors	123,484	157,822
	---------	---------

7. Investments

	2023	2022
	£	£

Other investments	663,702	575,601
	---------	---------

8. Creditors: amounts falling due within one year

	2023	2022
	£	£

Trade creditors	53,727	63,198
Corporation tax	47,961	51,250
Social security and other taxes	26,066	14,045
Other creditors	38,545	79,408
	---------	---------
	166,299	207,901
	---------	---------

9. General information

The company is a private company limited by shares, registered in England. The address of the registered office is Willow Farm, East Street, Bole, Retford.