M A Evans Transport Limited - Period Ending 2017-12-31
M A Evans Transport Limited - Period Ending 2017-12-31
Registration number:
M A Evans Transport Limited
for the Year Ended 31 December 2017
M A Evans Transport Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
M A Evans Transport Limited
Company Information
Directors |
Mr J R Edwards Mrs I M Edwards Mr D Edwards |
Company secretary |
Mr J R Edwards |
Registered office |
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Accountants |
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Page 1 |
M A Evans Transport Limited
(Registration number: 00946338)
Balance Sheet as at 31 December 2017
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2017 |
2016 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Stocks |
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Debtors |
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Investments |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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Page 2 |
M A Evans Transport Limited
(Registration number: 00946338)
Balance Sheet as at 31 December 2017
For the financial year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Company secretary and director
Page 3 |
M A Evans Transport Limited
Notes to the Financial Statements for the Year Ended 31 December 2017
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
UK
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Page 4 |
M A Evans Transport Limited
Notes to the Financial Statements for the Year Ended 31 December 2017
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Land and buildings |
2% on cost |
Improvements to property |
2% on cost |
Plant and machinery |
25% on reducing balance |
Motor vehicles |
25% on reducing balance |
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price.
Page 5 |
M A Evans Transport Limited
Notes to the Financial Statements for the Year Ended 31 December 2017
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised at the transaction price.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Page 6 |
M A Evans Transport Limited
Notes to the Financial Statements for the Year Ended 31 December 2017
Tangible assets |
Land and buildings |
Improvements to property |
Plant and machinery |
Motor vehicles |
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Cost or valuation |
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At 1 January 2017 |
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Additions |
- |
- |
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- |
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Disposals |
- |
- |
( |
- |
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At 31 December 2017 |
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Depreciation |
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At 1 January 2017 |
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Charge for the year |
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Eliminated on disposal |
- |
- |
( |
- |
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At 31 December 2017 |
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Carrying amount |
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At 31 December 2017 |
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At 31 December 2016 |
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Total |
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Cost or valuation |
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At 1 January 2017 |
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Additions |
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Disposals |
( |
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At 31 December 2017 |
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Depreciation |
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At 1 January 2017 |
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Charge for the year |
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Eliminated on disposal |
( |
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At 31 December 2017 |
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Carrying amount |
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At 31 December 2017 |
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At 31 December 2016 |
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Page 7 |
M A Evans Transport Limited
Notes to the Financial Statements for the Year Ended 31 December 2017
Investments |
2017 |
2016 |
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Investments in subsidiaries |
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Investments in associates |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 January 2017 |
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Provision |
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Carrying amount |
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At 31 December 2017 |
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At 31 December 2016 |
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Associates |
£ |
Cost |
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At 1 January 2017 |
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Provision |
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Carrying amount |
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At 31 December 2017 |
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At 31 December 2016 |
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Page 8 |
M A Evans Transport Limited
Notes to the Financial Statements for the Year Ended 31 December 2017
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2017 |
2016 |
Subsidiary undertakings |
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Bowling Green Lane,
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Ordinary |
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England and Wales |
Associates |
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Bowling Green Lane,
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Ordinary and Redeemable Preference |
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England and Wales |
The principal activity of The Knighton Truck Company Limited is |
The principal activity of Powys Properties Limited is |
The loss for the financial period of The Knighton Truck Company Limited was £1,887 and the aggregate amount of capital and reserves at the end of the period was £68,725. |
The profit for the financial period of Powys Properties Limited was £114,041 and the aggregate amount of capital and reserves at the end of the period was £1,639,645. |
Stocks |
2017 |
2016 |
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Stock |
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Debtors |
2017 |
2016 |
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Trade debtors |
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Prepayments |
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Page 9 |
M A Evans Transport Limited
Notes to the Financial Statements for the Year Ended 31 December 2017
Current asset investments |
2017 |
2016 |
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Other investments |
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Creditors |
Creditors: amounts falling due within one year
Note |
2017 |
2016 |
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Due within one year |
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Trade creditors |
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Amounts owed to group company |
72,851 |
76,130 |
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Amounts owed to associated company |
1,197 |
2,046 |
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Directors' current account |
34,765 |
55,239 |
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Taxation and social security |
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Accruals |
6,238 |
6,120 |
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Corporation tax |
2,047 |
3,433 |
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Page 10 |