true
Cloburn Transport Limited
SC244568
814 2646 41
2015-05-31
487325
369374
487327
369376
2
2
487327
369376
253334
184538
972267
928654
1712928
1482568
-193589
-352077
1403279
1144897
1209690
792820
1179273
749120
28370
31150
2047
12550
1906517
1834645
1906517
1834645
Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
The turnover shown in the profit and loss account represents services provided during the year, exclusive of Value Added Tax.
Goodwill
Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its useful economic life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years. Useful economic lives are reviewed at the end of each reporting period and revised if necessary, subject to the constraint that the revised life shall not exceed 20 years from the date of acquisition. The carrying amount at the date of revision is amortised over the revised estimate of remaining useful economic life.
Amortisation
Amortisation is calculated so as to write off the cost of an asset over
the useful economic life of that asset as follows:
Goodwill-5 years straight line
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed
assets at their fair value. The capital element of the future payments is treated as a liability and
the interest is charged to the profit and loss account at a constant rate of charge on the balance of capital repayments outstanding.
Finance lease agreements
Where the company enters into a lease which entails taking substantially all the risks and rewards
of ownership of an asset, the lease is treated as a finance lease. The asset is recorded in the
balance sheet as a tangible fixed asset and is depreciated in accordance with the above
depreciation policies. Future instalments under such leases, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element, which is charged to the profit and loss account at a constant rate of charge on the balance of capital repayments outstanding, and the capital element which reduces the outstanding obligation for future instalments.
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Fixed Assets
All fixed assets are initially recorded at cost.
Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Land & Buildings
straight line and 10% straight line
0.2000
Plant & Machinery
reducing balance
0.1500
Wagons and trailers
straight line
0.1000
Office Equipment
straight line
0.2500
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
40000
40000
40000
40000
2519116
2353563
1415540
-1249987
612599
518918
231221
-137540
2559116
2393563
1415540
-1249987
652599
558918
-137540
231221
972267
928654
Ordinary shares
2
1
2
2
Ordinary shares
1
2
2
2
During the year the company made advances totalling £150,878 to the directors. The directors made repayments totalling £186,178. The balanceowed by the directors to the company at the year end was £94,541 (2014: £129,841). Interest was charged at 3.25% on the advances and the balance is repayable on demand.
2015-10-14
Mr P R Clough
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
Cloburn Transport Limited
2014-06-01
2015-05-31
Cloburn Transport Limited
2013-06-01
2014-05-31
Cloburn Transport Limited
2013-05-31
Cloburn Transport Limited
2014-05-31
Cloburn Transport Limited
2014-05-31
Cloburn Transport Limited
2015-05-31
2015-11-05