C.B.G. Transport Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04312044 (England and Wales)

C.B.G. TRANSPORT LTD

Unaudited Financial Statements

for the Year Ended 28 February 2018

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

to

4

Notes to the Financial Statements

5

to

9

DIRECTORS:

N P Cummings

C Hartwell

C J Cummings

SECRETARY:

C J Cummings

REGISTERED OFFICE:

Birmingham Road

Blackminster

Evesham

Worcestershire

WR11 7TD

REGISTERED NUMBER:

04312044 (England and Wales)

ACCOUNTANTS:

Haines Watts Worcester Limited

Chartered Certified Accountants

Britannia Court

5 Moor Street

WORCESTER

WR1 3DB

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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of C.B.G. Transport Ltd for the year ended 28 February 2018 which comprise the

Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of C.B.G. Transport Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of C.B.G. Transport Ltd and state those matters that we have agreed to state to the Board of Directors of C.B.G. Transport Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that C.B.G. Transport Ltd 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 C.B.G. Transport Ltd. You consider that C.B.G. Transport Ltd 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 C.B.G. Transport Ltd. 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.

Haines Watts Worcester Limited

Chartered Certified Accountants

Britannia Court

5 Moor Street

WORCESTER

WR1 3DB

14 May 2018

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

132,039

116,973

Investments

6

84

245

Investment property

7

152,649

152,649

284,772

269,867

CURRENT ASSETS

Debtors

8

349,763

351,056

Cash at bank and in hand

162,536

212,364

512,299

563,420

CREDITORS

Amounts falling due within one year

9

188,292

212,929

NET CURRENT ASSETS

324,007

350,491

TOTAL ASSETS LESS CURRENT LIABILITIES

608,779

620,358

CREDITORS

Amounts falling due after more than one year

10

(11,090

)

(49,418

)

PROVISIONS FOR LIABILITIES

(19,971

)

(17,760

)

NET ASSETS

577,718

553,180

CAPITAL AND RESERVES

Called up share capital

90

90

Retained earnings

577,628

553,090

SHAREHOLDERS' FUNDS

577,718

553,180

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2018 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 9 May 2018 and were signed on its behalf by:

N P Cummings - Director

C J Cummings - Director

C Hartwell - Director

1.	STATUTORY INFORMATION

C.B.G. Transport Ltd 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.

The significant accounting policies applied in the preparation of these financial statements are set out

below. These policies have been consistently applied to all years presented unless otherwise stated. The

company adopted FRS 102 in the current year and reconciliations of how the transition to FRS 102 has

affected the reported financial position and performance is shown on pages 18 to 20.

Turnover

Turnover represents the net invoiced provision of services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002 has been

amortised evenly over its estimated useful life of 10 years. At the 28 February 2018 Goodwill had been

fully amortised (2017 - fully amortised)

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in fair value is recognised in profit or loss.

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.

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.

Going concern

The financial statements have been prepared on a going concern basis and no material uncertainties

exist that impact on the company's ability to trade.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2017 - 27 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2017

and 28 February 2018

50,000

AMORTISATION

At 1 March 2017

and 28 February 2018

50,000

NET BOOK VALUE

At 28 February 2018

-

At 28 February 2017

-

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 March 2017

86,317

40,923

55,946

183,186

Additions

-

1,779

35,000

36,779

At 28 February 2018

86,317

42,702

90,946

219,965

DEPRECIATION

At 1 March 2017

5,754

26,139

34,320

66,213

Charge for year

5,755

3,989

11,969

21,713

At 28 February 2018

11,509

30,128

46,289

87,926

NET BOOK VALUE

At 28 February 2018

74,808

12,574

44,657

132,039

At 28 February 2017

80,563

14,784

21,626

116,973

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 March 2017

and 28 February 2018

9,482

PROVISIONS

At 1 March 2017

9,237

Provision for year

161

At 28 February 2018

9,398

NET BOOK VALUE

At 28 February 2018

84

At 28 February 2017

245

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2017

and 28 February 2018

152,649

NET BOOK VALUE

At 28 February 2018

152,649

At 28 February 2017

152,649

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.18

28.2.17

£

£

Trade debtors

338,512

341,079

Prepayments

11,251

9,977

349,763

351,056

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.18

28.2.17

£

£

Bank loans

20,000

20,000

Trade creditors

109,938

116,840

Tax

18,511

11,839

Social security and other taxes

8,804

29,595

VAT

19,655

22,166

Directors' current accounts

81

271

Accrued expenses

11,303

12,218

188,292

212,929

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.18

28.2.17

£

£

Bank loans - 1-2 years

11,090

20,000

Bank loans - 2-5 years

-

29,418

11,090

49,418

11.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.18

28.2.17

£

£

Bank loans

31,090

69,418

All the company's liabilities to the bank, of any kind and in any currency, (whether present or future or

contingent and whether incurred alone or jointly with another) are secured by way of a fixed and

floating charge over all the company's property and assets, present and future.

The company's bank loan was secured against all the company's interest in 9 School Road, Hampton,

WR11 2PW (including all rents receivable from any lease, and the proceeds of any insurances affecting

the property)

Both these charges are registered at Companies House.