London Goods Transport Limited - Accounts to registrar - small 17.2

London Goods Transport Limited - Accounts to registrar - small 17.2

LONDON GOODS TRANSPORT LIMITED - Company Information

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REGISTERED NUMBER: 07522457 (England and Wales)















LONDON GOODS TRANSPORT LIMITED

Unaudited Financial Statements for the Year Ended 31 December 2016













LONDON GOODS TRANSPORT LIMITED (REGISTERED NUMBER: 07522457)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2016










Page

Balance Sheet 1 to 2

Notes to the Financial Statements 3 to 6


LONDON GOODS TRANSPORT LIMITED (REGISTERED NUMBER: 07522457)

Balance Sheet
31 DECEMBER 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 588,961 439,128

CURRENT ASSETS
Debtors 5 283,054 98,152
Cash at bank 71,360 182,950
354,414 281,102
CREDITORS
Amounts falling due within one year 6 368,522 241,261
NET CURRENT (LIABILITIES)/ASSETS (14,108 ) 39,841
TOTAL ASSETS LESS CURRENT
LIABILITIES
574,853
478,969

CREDITORS
Amounts falling due after more than one
year
7
(313,004
)
(244,796
)

PROVISIONS FOR LIABILITIES (53,390 ) (47,819 )
NET ASSETS 208,459 186,354

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 208,457 186,352
SHAREHOLDERS' FUNDS 208,459 186,354

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 notes form part of these financial statements

Page 1 continued...
LONDON GOODS TRANSPORT LIMITED (REGISTERED NUMBER: 07522457)

Balance Sheet - continued
31 DECEMBER 2016


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 29 September 2017 and were signed by:





G K Dhillon - Director


The notes form part of these financial statements

Page 2
LONDON GOODS TRANSPORT LIMITED (REGISTERED NUMBER: 07522457)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2016


1. STATUTORY INFORMATION

London Goods Transport Limited is a private company, limited by shares, registered in England and
Wales.
The company's registered number is 07522457
The company's registered office address is:
Bathurst House
50 Bathurst Walk
Iver, Buckinghamshire
England
SL0 9BH

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents income receivable in respect of services provided during the financial year,
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

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.


Page 3 continued...
LONDON GOODS TRANSPORT LIMITED (REGISTERED NUMBER: 07522457)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2016


2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.
Those held under hire purchase contracts are depreciated over their estimated useful lives. Those
held under finance leases are depreciated over their estimated useful lives or the lease term,
whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The
capital element of the future payments is treated as a liability.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2015 - 1 ) .

Page 4 continued...
LONDON GOODS TRANSPORT LIMITED (REGISTERED NUMBER: 07522457)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2016


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2016 613,967
Additions 346,154
At 31 December 2016 960,121
DEPRECIATION
At 1 January 2016 174,839
Charge for year 196,321
At 31 December 2016 371,160
NET BOOK VALUE
At 31 December 2016 588,961
At 31 December 2015 439,128

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2016 555,467
Additions 346,154
At 31 December 2016 901,621
DEPRECIATION
At 1 January 2016 159,300
Charge for year 185,581
At 31 December 2016 344,881
NET BOOK VALUE
At 31 December 2016 556,740
At 31 December 2015 396,167

Page 5 continued...
LONDON GOODS TRANSPORT LIMITED (REGISTERED NUMBER: 07522457)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2016


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade debtors 166,602 79,609
Other debtors 116,452 18,543
283,054 98,152

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Hire purchase contracts 188,236 112,326
Trade creditors 42,102 10,824
Taxation and social security 56,209 82,200
Other creditors 81,975 35,911
368,522 241,261

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2016 2015
£    £   
Hire purchase contracts 313,004 244,796

8. TRANSACTIONS WITH DIRECTORS

The turnover shown in the financial statements is derived from contracts between London Goods
Transport Limited and its customers.These contracts are serviced using vehicles owned by London
Goods Transport Limited and by vehicles owned by London Goods Transport Partnership. The
partners in London Goods Transport Partnership are Mr & Mrs R Dhillon. These financial statements
include the running costs of vehicles owned by London Goods Transport Partnership when used on
London Goods Transport Ltd contracts. No charges are made by London Goods Transport
Partnership in respect of the hiring of these vehicles to London Goods Transport Limited.

9. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed an amount of £36,258 (2015: 13,899) to Mr Dhillon on
his director's loan account.
No interest is payable on this amount.
The amount is repayable on demand.

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