COMPANY REGISTRATION NUMBER:
10628511
PETER McCALLUM TRANSPORT LIMITED
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FILLETED UNAUDITED FINANCIAL STATEMENTS
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PETER McCALLUM TRANSPORT LIMITED
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STATEMENT OF FINANCIAL POSITION
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31 May 2022
FIXED ASSETS
Investments
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4
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585,420
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585,410
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|
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CURRENT ASSETS
Cash at bank and in hand
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82
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82
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CREDITORS: amounts falling due within one year
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5
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585,420
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585,410
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---------
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---------
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NET CURRENT LIABILITIES
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585,338
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585,328
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---------
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---------
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TOTAL ASSETS LESS CURRENT LIABILITIES
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82
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82
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----
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----
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CAPITAL AND RESERVES
Called up share capital fully paid
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100
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100
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Profit and loss account
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(
18)
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(
18)
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----
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----
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SHAREHOLDERS FUNDS
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82
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82
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----
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----
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These 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 statement of income and retained earnings has not been delivered.
For the year ending 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
27 October 2022
, and are signed on behalf of the board by:
Company registration number:
10628511
PETER McCALLUM TRANSPORT LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
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YEAR ENDED 31 MAY 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 Orchard House, Chelveston Road, Wellingborough, NN9 6DA.
2.
STATEMENT OF COMPLIANCE
These 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 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 financial statements are prepared in sterling, which is the functional currency of the entity.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
4.
INVESTMENTS
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Shares in group undertakings
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£
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Cost
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At 1 June 2021
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585,410
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Additions
|
10
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---------
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At 31 May 2022
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585,420
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---------
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Impairment
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At 1 June 2021 and 31 May 2022
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–
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---------
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Carrying amount
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At 31 May 2022
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585,420
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---------
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At 31 May 2021
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585,410
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---------
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5.
CREDITORS:
amounts falling due within one year
|
2022
|
2021
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£
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£
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Amounts owed to group undertakings and undertakings in which the company has a participating interest
|
380,320
|
340,310
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Other creditors
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205,100
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245,100
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---------
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585,420
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585,410
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---------
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---------
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6.
RELATED PARTY TRANSACTIONS
The
directors
have advanced monies to the company. As at 31 May 2022, the amount due from the company was £ 205,100
(2021 - £ 245,100
).