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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 28 FEBRUARY 2019 |
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AYLESTONE TRANSPORT LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 28 FEBRUARY 2019 |
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FOR |
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AYLESTONE TRANSPORT LIMITED |
AYLESTONE TRANSPORT LIMITED (REGISTERED NUMBER: 00892593) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2019 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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AYLESTONE TRANSPORT LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 28 FEBRUARY 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
89 King Street |
Maidstone |
Kent |
ME14 1BG |
AYLESTONE TRANSPORT LIMITED (REGISTERED NUMBER: 00892593) |
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STATEMENT OF FINANCIAL POSITION |
28 FEBRUARY 2019 |
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28.2.19 | 28.2.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 8 | ( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
AYLESTONE TRANSPORT LIMITED (REGISTERED NUMBER: 00892593) |
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STATEMENT OF FINANCIAL POSITION - continued |
28 FEBRUARY 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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AYLESTONE TRANSPORT LIMITED (REGISTERED NUMBER: 00892593) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2019 |
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1. | STATUTORY INFORMATION |
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Aylestone Transport Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Significant judgements and estimates |
In the application of the company's accounting policies, management is required to make judgements, estimates |
and assumptions about the carrying value of assets and liabilities that are not readily apparent from other |
sources. The estimates and underlying assumptions are based on historical experience and other factors that |
are considered relevant. Actual results may differ from these estimates. The estimates and underlying |
assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period |
to which the estimate is revised if the revision affects only that period or in the period of the revision and future |
periods if the revision affects both current and future periods. The key sources of estimation uncertainty that |
have a significant effect on the amounts recognised in the financial statements are the depreciation charges that |
are calculated with reference to the useful economic life of fixed assets. |
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Turnover |
Turnover represents net invoiced haulage services provided, excluding value added tax. |
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Tangible fixed assets |
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Improvements to property | - |
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Plant and machinery | - |
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Motor vehicles and trailers | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
AYLESTONE TRANSPORT LIMITED (REGISTERED NUMBER: 00892593) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2019 |
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3. | ACCOUNTING POLICIES - continued |
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Financial instruments |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period |
for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is |
recognised in profit or loss. |
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For financial assets measured at amortised cost, the impairment loss is measured as the difference between an |
asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective |
interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss |
is the current effective interest rate determined under the contract. |
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For financial assets measured at cost less impairment, the impairment loss is measured as the difference |
between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the |
company would receive for the asset if it were to be sold at the reporting date. |
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d) Trade and other creditors |
Debt instruments like loans and other accounts receivable and payable are initially measured at present value of |
the future payments and subsequently at amortised cost using the effective interest method. Debt instruments |
that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and |
subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. |
However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a |
trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in |
case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and |
subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt |
instrument. |
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Financial assets and liabilities are offset and the net amount reported in the statement of financial position when |
there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or |
to realise the asset and settle the liability simultaneously. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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AYLESTONE TRANSPORT LIMITED (REGISTERED NUMBER: 00892593) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2019 |
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3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet and |
depreciated over their useful economic lives. |
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The interest element of these obligations is charged to the profit and loss account over the relevant period. The |
capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to the profit and loss account on a straight line basis, over the |
period of the lease. |
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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. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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AYLESTONE TRANSPORT LIMITED (REGISTERED NUMBER: 00892593) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2019 |
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5. | TANGIBLE FIXED ASSETS |
Motor |
Improvements | vehicles |
to | Plant and | and |
property | machinery | trailers | Totals |
£ | £ | £ | £ |
COST |
At 1 March 2018 |
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Additions |
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Disposals |
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( |
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At 28 February 2019 |
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DEPRECIATION |
At 1 March 2018 |
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Charge for year |
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Eliminated on disposal |
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At 28 February 2019 |
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NET BOOK VALUE |
At 28 February 2019 |
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At 28 February 2018 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
and |
trailers |
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COST |
At 1 March 2018 |
and 28 February 2019 |
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DEPRECIATION |
At 1 March 2018 |
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Charge for year |
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At 28 February 2019 |
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NET BOOK VALUE |
At 28 February 2019 |
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At 28 February 2018 |
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AYLESTONE TRANSPORT LIMITED (REGISTERED NUMBER: 00892593) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2019 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.19 | 28.2.18 |
£ | £ |
Trade debtors |
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Other debtors |
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Taxation | 5,306 | - |
Prepayments |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.19 | 28.2.18 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Taxation |
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Other taxes and PAYE taxes |
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Accrued expenses |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
28.2.19 | 28.2.18 |
£ | £ |
Hire purchase contracts |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 28.2.19 | 28.2.18 |
value: | £ | £ |
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Ordinary | £1 | 15,000 | 15,000 |
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Preference | £1 | 5,000 | 5,000 |
20,000 | 20,000 |
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10. | RELATED PARTY DISCLOSURES |
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The company occupies premises owned by the directors, Mr R Ward and Mrs A Ward. The directors do not |
charge rent to the company. |