Company Registration No. 6418401 (England and Wales)
FAWCETT TRANSPORT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2020
PAGES FOR FILING WITH REGISTRAR
FAWCETT TRANSPORT LIMITED
COMPANY INFORMATION
Director
A Lamb
Secretary
M Fraser
Company number
6418401
Registered office
22 Pyxe Court
Walton Park
Milton Keynes
Buckinghamshire
MK7 7HR
FAWCETT TRANSPORT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
FAWCETT TRANSPORT LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2020
30 November 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
2
13,579
18,105
Current assets
Stocks
3,190
1,191
Debtors
3
1,052
Cash at bank and in hand
661
268
4,903
1,459
Creditors: amounts falling due within one year
4
(13,190)
(10,690)
Net current liabilities
(8,287)
(9,231)
Total assets less current liabilities
5,292
8,874
Capital and reserves
Called up share capital
5
2
2
Profit and loss reserves
5,290
8,872
Total equity
5,292
8,874
The director of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 November 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its 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 financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and signed by the director and authorised for issue on 26 August 2021
A Lamb
Director
Company Registration No. 6418401
FAWCETT TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2020
- 2 -
1
Accounting policies
Company information
Fawcett Transport Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
22 Pyxe Court, Walton Park, Milton Keynes, Buckinghamshire, MK7 7HR.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% reducing balance
Fixtures and fittings
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Stocks
Stocks
are stated at the lower of cost and
estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.5
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
FAWCETT TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2020
- 3 -
2
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2019 and 30 November 2020
110,196
Depreciation and impairment
At 1 December 2019
92,091
Depreciation charged in the year
4,526
At 30 November 2020
96,617
Carrying amount
At 30 November 2020
13,579
At 30 November 2019
18,105
3
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
1,052
4
Creditors: amounts falling due within one year
2020
2019
£
£
Corporation tax
1,412
2,620
Other taxation and social security
2,425
2,806
Other creditors
9,353
5,264
13,190
10,690
5
Called up share capital
2020
2019
£
£
Ordinary share capital
Authorised
100 Ordinary shares of £1 each
100
100
Issued and fully paid
2 Ordinary shares of £1 each
2
2