Lichfield International Freight Terminal - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 02852323 (England and Wales)

H YOUNG TRANSPORT LIMITED

PREVIOUSLY KNOWN AS

LICHFIELD INTERNATIONAL FREIGHT TERMINAL

LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

Report of the Accountants

7

DIRECTORS:

R Webster

P Partington

M Jackson

SECRETARY:

P Partington

REGISTERED OFFICE:

Transport House, Units 1 2 & 3 Althea

Wellington Park

Wellington Road

Burton on Trent

Staffordshire

DE14 2TG

REGISTERED NUMBER:

02852323 (England and Wales)

ACCOUNTANTS:

Four Oaks Taxation & Accounting Services Limited

Suite D, Astor House

282 Lichfield Road

Four Oaks

Sutton Coldfield

West Midlands

B74 2UG

FIXED ASSETS

Tangible assets

4

2,430,818

2,365,404

CURRENT ASSETS

Stocks

9,666

9,666

Debtors

5

834,368

696,052

Cash at bank and in hand

59,580

84,504

903,614

790,222

CREDITORS

Amounts falling due within one year

6

713,927

593,023

NET CURRENT ASSETS

189,687

197,199

TOTAL ASSETS LESS CURRENT LIABILITIES

2,620,505

2,562,603

CREDITORS

Amounts falling due after more than one year

7

(1,172,881

)

(2,091,153

)

PROVISIONS FOR LIABILITIES

(35,599

)

(8,084

)

NET ASSETS

1,412,025

463,366

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Retained earnings

1,407,025

458,366

SHAREHOLDERS' FUNDS

1,412,025

463,366

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 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 Board of Directors on 18 December 2017 and were signed on its behalf by:

R Webster - Director

1.	STATUTORY INFORMATION

H Young Transport Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

Straight line over 24 years

Plant and machinery

-

33% on cost, 25% on cost, 20% on cost and 20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST

At 1 April 2016

2,529,890

395,701

4,533

2,930,124

Additions

-

85,139

92,782

177,921

At 31 March 2017

2,529,890

480,840

97,315

3,108,045

DEPRECIATION

At 1 April 2016

291,704

272,747

269

564,720

Charge for year

33,366

73,112

6,029

112,507

At 31 March 2017

325,070

345,859

6,298

677,227

NET BOOK VALUE

At 31 March 2017

2,204,820

134,981

91,017

2,430,818

At 31 March 2016

2,238,186

122,954

4,264

2,365,404

Included in cost of land and buildings is freehold land of £ 1,726,527 (2016 - £ 1,726,527 ) which is not

depreciated.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

799,396

652,770

Amounts owed by group undertakings

5,709

5,709

Other debtors

29,263

37,573

834,368

696,052

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

214,935

209,292

Trade creditors

384,770

256,483

Taxation and social security

69,219

62,060

Other creditors

45,003

65,188

713,927

593,023

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

1,108,404

1,207,397

Hire purchase contracts

64,477

79,134

Amounts owed to group undertakings

-

804,622

1,172,881

2,091,153

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

752,404

851,397

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdrafts

125,935

120,292

Bank loans

1,197,404

1,296,397

Hire purchase contracts

64,477

79,134

1,387,816

1,495,823

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2017 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Four Oaks Taxation & Accounting Services Limited

Suite D, Astor House

282 Lichfield Road

Four Oaks

Sutton Coldfield

West Midlands

B74 2UG

18 December 2017