COMPANY REGISTRATION NUMBER:
08411733
TEASDALE BULK HAULAGE LIMITED |
|
Filleted Unaudited Abridged Financial Statements |
|
TEASDALE BULK HAULAGE LIMITED |
|
Abridged Statement of Financial Position |
|
28 February 2022
Fixed assets
Intangible assets |
5 |
3,000 |
4,000 |
Tangible assets |
6 |
157,703 |
195,245 |
|
--------- |
--------- |
|
160,703 |
199,245 |
|
|
|
|
Current assets
Stocks |
75,000 |
75,000 |
Debtors |
169,679 |
63,889 |
Cash at bank and in hand |
3,379 |
12,036 |
|
--------- |
--------- |
|
248,058 |
150,925 |
|
|
|
Creditors: amounts falling due within one year |
379,711 |
246,642 |
|
--------- |
--------- |
Net current liabilities |
131,653 |
95,717 |
|
--------- |
--------- |
Total assets less current liabilities |
29,050 |
103,528 |
|
|
|
Creditors: amounts falling due after more than one year |
57,345 |
100,262 |
|
-------- |
--------- |
Net (liabilities)/assets |
(
28,295) |
3,266 |
|
-------- |
--------- |
|
|
|
Capital and reserves
Called up share capital |
100 |
100 |
Profit and loss account |
(
28,395) |
3,166 |
|
-------- |
------- |
Shareholders (deficit)/funds |
(
28,295) |
3,266 |
|
-------- |
------- |
|
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 28 February 2022 in accordance with Section 444(2A) of the Companies Act 2006.
TEASDALE BULK HAULAGE LIMITED |
|
Abridged Statement of Financial Position (continued) |
|
28 February 2022
These abridged financial statements were approved by the
board of directors
and authorised for issue on
17 April 2023
, and are signed on behalf of the board by:
Company registration number:
08411733
TEASDALE BULK HAULAGE LIMITED |
|
Notes to the Abridged Financial Statements |
|
Year ended 28 February 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 11, Old Yard Colliery Industrial Estate, Ferryhill, Co Durham, DL17 0SZ.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Goodwill |
- |
10% straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant and machinery |
- |
15% reducing balance |
|
Motor vehicles |
- |
25% reducing balance |
|
Equipment |
- |
15% reducing balance |
|
|
|
|
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to Nil
(2021:
7
).
5.
Intangible assets
|
£ |
Cost |
|
At 1 March 2021 and 28 February 2022 |
10,000 |
|
-------- |
Amortisation |
|
At 1 March 2021 |
6,000 |
Charge for the year |
1,000 |
|
-------- |
At 28 February 2022 |
7,000 |
|
-------- |
Carrying amount |
|
At 28 February 2022 |
3,000 |
|
-------- |
At 28 February 2021 |
4,000 |
|
-------- |
|
|
6.
Tangible assets
|
£ |
Cost |
|
At 1 March 2021 |
305,636 |
Additions |
37,277 |
Disposals |
(
62,735) |
|
--------- |
At 28 February 2022 |
280,178 |
|
--------- |
Depreciation |
|
At 1 March 2021 |
110,391 |
Charge for the year |
46,783 |
Disposals |
(
34,699) |
|
--------- |
At 28 February 2022 |
122,475 |
|
--------- |
Carrying amount |
|
At 28 February 2022 |
157,703 |
|
--------- |
At 28 February 2021 |
195,245 |
|
--------- |
|
|
7.
Director's advances, credits and guarantees