Vaughan Transport Systems Limited - Accounts to registrar (filleted) - small 18.2
Vaughan Transport Systems Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 March 2022 |
| for |
| VAUGHAN TRANSPORT SYSTEMS LIMITED |
| VAUGHAN TRANSPORT SYSTEMS LIMITED (REGISTERED NUMBER: 00674069) |
| Contents of the Financial Statements |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| VAUGHAN TRANSPORT SYSTEMS LIMITED |
| Company Information |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| Chartered Accountants & Statutory Auditor |
| Fairway House |
| Links Business Park |
| St Mellons |
| Cardiff |
| CF3 OLT |
| VAUGHAN TRANSPORT SYSTEMS LIMITED (REGISTERED NUMBER: 00674069) |
| Balance Sheet |
| 31 MARCH 2022 |
| 2022 | 2021 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| VAUGHAN TRANSPORT SYSTEMS LIMITED (REGISTERED NUMBER: 00674069) |
| Notes to the Financial Statements |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| 1. | STATUTORY INFORMATION |
| Vaughan Transport Systems Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| 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. |
| Current or deferred taxation assets and liabilities are not discounted. |
| 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| 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. |
| 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. |
| VAUGHAN TRANSPORT SYSTEMS LIMITED (REGISTERED NUMBER: 00674069) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Motor | Computer |
| machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 April 2021 |
| and 31 March 2022 |
| DEPRECIATION |
| At 1 April 2021 |
| Charge for year |
| At 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 March 2021 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Due from related company | 73,810 | 73,810 |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Other creditors |
| Accrued expenses |
| VAUGHAN TRANSPORT SYSTEMS LIMITED (REGISTERED NUMBER: 00674069) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Other creditors |
| Owed to group undertakings | 187,177 | 187,177 |
| 8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 9. | RELATED PARTY DISCLOSURES |
| Vaughan Transport Systems Limited, a wholly owned subsidiary of S & K Haulage (Glamorgan) Limited has taken advantage of the exemption available under Financial Reporting Standard No. 8 not to disclose related party transactions with entities that are part of the group, as 90% of its voting rights are controlled within the group. |
| As at 31st March 2022 the company was owed £10,462 (2021 - £10,462) from Barry Storage & Distribution which is a related party by virtue of common control. |
| As at 31st March 2022 the company was owed £73,810 (2021 - £73,810) from Barry Storage & Distribution Limited which is a related party by virtue of common directorship. |
| As at 31st March 2022 the company owed the directors £637,152 (2021 - £575,152). The balance is interest free and unsecured. |
| 10. | ULTIMATE CONTROLLING PARTY |
| The controlling party is N E Kidby. |