D & N Transport Limited

Contents
	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: 04302396

		2019		2018
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	3		9,462		11,603

			9,462		11,603
CURRENT ASSETS
Debtors	4	67,045		71,522
Cash at bank and in hand		14,467		33

		81,512		71,555
Creditors: Amounts Falling Due Within One Year	5	(89,553 )		(81,014 )

NET CURRENT ASSETS (LIABILITIES)			(8,041 )		(9,459 )

TOTAL ASSETS LESS CURRENT LIABILITIES			1,421		2,144

PROVISIONS FOR LIABILITIES
Deferred Taxation			(1,404 )		(1,725 )

NET ASSETS			17		419

CAPITAL AND RESERVES
Called up share capital	6		8		5
Profit and Loss Account			9		414

SHAREHOLDERS' FUNDS			17		419

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Balance Sheet (continued)

As at 31 October 2019

For the year ending 31 October 2019 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Miss Paula Mutter Director	Mr Colin Law Director
4 May 2020

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

1.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

1.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	25% Reducing Balance
Fixtures & Fittings	15% Reducing Balance

1.4. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2. Average Number of Employees

Average number of employees, including directors, during the year was: 4 (2018: 4)

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D & N Transport Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2019

3. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 November 2018	95,373	13,049	108,422
Additions	-	551	551

As at 31 October 2019	95,373	13,600	108,973

Depreciation
As at 1 November 2018	86,680	10,139	96,819
Provided during the period	2,173	519	2,692

As at 31 October 2019	88,853	10,658	99,511

Net Book Value
As at 31 October 2019	6,520	2,942	9,462

As at 1 November 2018	8,693	2,910	11,603

4. Debtors

	2019	2018
	£	£
Due within one year
Trade debtors	27,646	28,594
Other debtors	39,399	42,928

	67,045	71,522

5. Creditors: Amounts Falling Due Within One Year

	2019	2018
	£	£
Trade creditors	63,017	51,951
Bank loans and overdrafts	-	7,112
Other creditors	7,693	7,622
Taxation and social security	18,843	14,329

	89,553	81,014

6. Share Capital

	2019		2018
Allotted, Called up and fully paid	8		5

7. General Information

D & N Transport Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04302396. The registered office is Unit 5A Kayley Industrial Estate, Richmond Street, Ashton under Lyne, Lancashire, OL7 0AU.

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