Prigmore Haulage Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08009571 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

PRIGMORE HAULAGE LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs P M Prigmore

R A Prigmore

REGISTERED OFFICE:

Brook House

Edmonds Close

Denington Industrial Estate

Wellingborough

Northamptonshire

NN8 2QY

REGISTERED NUMBER:

08009571 (England and Wales)

ACCOUNTANTS:

Elsby & Co

Thistledown Barn

204 Holcot Road

Sywell

Northampton

Northamptonshire

NN6 0BG

FIXED ASSETS

Intangible assets

4

10,000

20,000

Tangible assets

5

425,667

306,577

435,667

326,577

CURRENT ASSETS

Debtors

246,007

185,068

Cash at bank and in hand

21,000

15,657

267,007

200,725

CREDITORS

Amounts falling due within one year

237,719

188,985

NET CURRENT ASSETS

29,288

11,740

TOTAL ASSETS LESS CURRENT LIABILITIES

464,955

338,317

CREDITORS

Amounts falling due after more than one year

(281,381

)

(218,950

)

PROVISIONS FOR LIABILITIES

(65,907

)

-

NET ASSETS

117,667

119,367

CAPITAL AND RESERVES

Called up share capital

7

200

200

Retained earnings

117,467

119,167

SHAREHOLDERS' FUNDS

117,667

119,367

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors on 16 November 2018 and were signed on its behalf by:

Mrs P M Prigmore - Director

1.	STATUTORY INFORMATION

Prigmore Haulage 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.

Turnover

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

added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of the business in 2015, is being amortised evenly over

its estimated useful life of five years.

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

-

25% on reducing balance

Motor vehicles

-

20% on reducing balance

Office equipment

-

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.

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.

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 19 (2017 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2017

and 31 March 2018

50,000

AMORTISATION

At 1 April 2017

30,000

Amortisation for year

10,000

At 31 March 2018

40,000

NET BOOK VALUE

At 31 March 2018

10,000

At 31 March 2017

20,000

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2017

383,584

Additions

210,728

Disposals

(10,048

)

At 31 March 2018

584,264

DEPRECIATION

At 1 April 2017

77,007

Charge for year

85,838

Eliminated on disposal

(4,248

)

At 31 March 2018

158,597

NET BOOK VALUE

At 31 March 2018

425,667

At 31 March 2017

306,577

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

Totals

£

COST

At 1 April 2017

351,978

Additions

206,435

At 31 March 2018

558,413

DEPRECIATION

At 1 April 2017

67,538

Charge for year

82,008

At 31 March 2018

149,546

NET BOOK VALUE

At 31 March 2018

408,867

At 31 March 2017

284,440

6.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2018

2017

£

£

Net obligations repayable:

Within one year

104,301

61,969

Between one and five years

281,381

218,950

385,682

280,919

Non-cancellable operating

leases

2018

2017

£

£

Within one year

9,831

-

Between one and five years

9,831

-

19,662

-

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1

100

100

100

A

£1

100

100

200

200