Evans European Transport Limited 31/03/2018 iXBRL

Evans European Transport Limited 31/03/2018 iXBRL

EVANS EUROPEAN TRANSPORT LIMITED - Company Information

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31/03/2018 2018-03-31 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2017-04-01 Sage Accounts Production 18.30 - FRS xbrli:pure xbrli:shares iso4217:GBP 09499970 2017-04-01 2018-03-31 09499970 2018-03-31 09499970 2017-03-31 09499970 2016-04-01 2017-03-31 09499970 2017-03-31 09499970 bus:Director1 2017-04-01 2018-03-31 09499970 core:LandBuildings core:OwnedOrFreeholdAssets 2017-03-31 09499970 core:PlantMachinery 2017-03-31 09499970 core:MotorVehicles 2017-03-31 09499970 core:LandBuildings core:OwnedOrFreeholdAssets 2018-03-31 09499970 core:PlantMachinery 2018-03-31 09499970 core:MotorVehicles 2018-03-31 09499970 core:WithinOneYear 2018-03-31 09499970 core:WithinOneYear 2017-03-31 09499970 core:AfterOneYear 2018-03-31 09499970 core:AfterOneYear 2017-03-31 09499970 core:LandBuildings core:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 09499970 core:PlantMachinery 2017-04-01 2018-03-31 09499970 core:MotorVehicles 2017-04-01 2018-03-31 09499970 core:ShareCapital 2018-03-31 09499970 core:ShareCapital 2017-03-31 09499970 core:RetainedEarningsAccumulatedLosses 2018-03-31 09499970 core:RetainedEarningsAccumulatedLosses 2017-03-31 09499970 core:LandBuildings core:OwnedOrFreeholdAssets 2017-03-31 09499970 core:PlantMachinery 2017-03-31 09499970 core:MotorVehicles 2017-03-31 09499970 bus:SmallEntities 2017-04-01 2018-03-31 09499970 bus:AuditExempt-NoAccountantsReport 2017-04-01 2018-03-31 09499970 bus:FullAccounts 2017-04-01 2018-03-31 09499970 bus:SmallCompaniesRegimeForAccounts 2017-04-01 2018-03-31 09499970 bus:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 09499970 core:FurnitureFittingsToolsEquipment 2017-04-01 2018-03-31
Company registration number: 09499970
Evans European Transport Limited
Unaudited filleted financial statements
31 March 2018
Evans European Transport Limited
Contents
Statement of financial position
Notes to the financial statements
Evans European Transport Limited
Statement of financial position
31 March 2018
2018 2017
Note £ £ £ £
Fixed assets
Tangible assets 5 935,753 853,256
_______ _______
935,753 853,256
Current assets
Debtors 6 376,344 438,768
Cash at bank and in hand 62,670 48,246
_______ _______
439,014 487,014
Creditors: amounts falling due
within one year 7 ( 401,340) ( 394,979)
_______ _______
Net current assets 37,674 92,035
_______ _______
Total assets less current liabilities 973,427 945,291
Creditors: amounts falling due
after more than one year 8 ( 442,642) ( 463,910)
Provisions for liabilities ( 58,854) ( 68,600)
_______ _______
Net assets 471,931 412,781
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 471,831 412,681
_______ _______
Shareholders funds 471,931 412,781
_______ _______
For the year ending 31 March 2018 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with 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.
These financial statements were approved by the board of directors and authorised for issue on 18 December 2018 , and are signed on behalf of the board by:
Mr Colin Hugh Evans
Director
Company registration number: 09499970
Evans European Transport Limited
Notes to the financial statements
Year ended 31 March 2018
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 33 Hardy's Road, Cleethorpes, North East Lincolnshire, DN35 0DL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - No depreciation charged.
Plant and machinery - 25% Straight line & reducing balance
Fittings fixtures and equipment - 25% Reducing balance
Motor vehicles - 25% Reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 28 (2017: 24 ).
5. Tangible assets
Freehold property Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 April 2017 545,500 50,304 606,139 1,201,943
Additions - 25,408 199,052 224,460
Disposals - - ( 10,500) ( 10,500)
_______ _______ _______ _______
At 31 March 2018 545,500 75,712 794,691 1,415,903
_______ _______ _______ _______
Depreciation
At 1 April 2017 - 30,886 317,797 348,683
Charge for the year - 8,962 125,455 134,417
Disposals - - ( 2,950) ( 2,950)
_______ _______ _______ _______
At 31 March 2018 - 39,848 440,302 480,150
_______ _______ _______ _______
Carrying amount
At 31 March 2018 545,500 35,864 354,389 935,753
_______ _______ _______ _______
At 31 March 2017 545,500 19,418 288,342 853,260
_______ _______ _______ _______
In the opinion of the directors Freehold Land and Buildings is worth at least its book value at 31 March 2017 . Therefore no depreciation has been provided.
6. Debtors
2018 2017
£ £
Trade debtors 345,191 344,603
Other debtors 31,153 94,165
_______ _______
376,344 438,768
_______ _______
7. Creditors: amounts falling due within one year
2018 2017
£ £
Bank loans and overdrafts 25,050 32,387
Trade creditors 52,442 109,418
Corporation tax 20,860 47,163
Social security and other taxes 120,956 99,302
Other creditors 182,032 106,709
_______ _______
401,340 394,979
_______ _______
Bank loans and overdrafts are secured by way of fixed and floating charges over the company's freehold property and other assets.
The hire purchase liability included within creditors is secured on the assets to which it relates.
8. Creditors: amounts falling due after more than one year
2018 2017
£ £
Bank loans and overdrafts 322,563 336,281
Other creditors 120,079 127,629
_______ _______
442,642 463,910
_______ _______
Included within creditors: Amounts falling due after more than one year is an amount of £ 238,362 (2017 £ 259,417 ) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.