REGISTERED NUMBER: 01161351 (England and Wales)

A.A. LOCK TRANSPORT (HEADCORN) LIMITED

Financial Statements

For The Year Ended 31 March 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S A Haggerty

R K Horsfall

A R Horsfall

REGISTERED OFFICE:

Greytown House

221-227 High Street

Orpington

Kent

BR6 0NZ

REGISTERED NUMBER:

01161351 (England and Wales)

AUDITORS:

Wilkins Kennedy Audit Services

Registered Auditors

1 - 5 Nelson Street

Southend on Sea

Essex

SS1 1EG

FIXED ASSETS

Tangible assets

4

1,514,416

1,322,913

CURRENT ASSETS

Stocks

28,000

15,340

Debtors

5

3,892,602

4,811,120

Cash at bank and in hand

18,824

4,924

3,939,426

4,831,384

CREDITORS

Amounts falling due within one year

6

535,830

349,657

NET CURRENT ASSETS

3,403,596

4,481,727

TOTAL ASSETS LESS CURRENT LIABILITIES

4,918,012

5,804,640

CREDITORS

Amounts falling due after more than one year

7

(868,734

)

(826,206

)

PROVISIONS FOR LIABILITIES

(76,068

)

(48,391

)

NET ASSETS

3,973,210

4,930,043

CAPITAL AND RESERVES

Called up share capital

2,000

2,000

Retained earnings

3,971,210

4,928,043

SHAREHOLDERS' FUNDS

3,973,210

4,930,043

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 16 November 2018 and were signed on its behalf by:

R K Horsfall - Director

1.	STATUTORY INFORMATION

A.A. Lock Transport (Headcorn) Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

In the opinion of the directors, it remains appropriate to continue to adopt the going concern basis of accounting.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost

Plant and machinery etc

-

15% on reducing balance and 10% on reducing balance

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Trade and other receivables

Trade and other receivables are measured at transaction price less any impairment unless the arrangement

constitutes a financing transaction in which case the transaction is measured at the present value of the future

receipts discounted at the prevailing market rate of interest. Loans are initially measured at fair value and are

subsequently measured at amortised cost using the effective interest method less any impairment.

Trade and other payables

Trade and other payables are measured at their transaction price unless the arrangement constitutes a financing

transaction in which case the transaction is measured at present value of future payments discounted at prevailing

market rate of interest. Other financial liabilities are initially measured at fair value net of their transaction costs.

They are subsequently measured at amortised cost using the effective interest method.

Hire purchase and leasing agreements

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over estimated useful lives. Those held under finance leases are

depreciated over their estimated useful lives or the lease term, whichever is the shorter.

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 liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2017 - 22 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2017

1,045,065

2,624,143

3,669,208

Additions

-

274,115

274,115

Disposals

-

(66,510

)

(66,510

)

At 31 March 2018

1,045,065

2,831,748

3,876,813

DEPRECIATION

At 1 April 2017

119,951

2,226,344

2,346,295

Charge for year

20,912

56,475

77,387

Eliminated on disposal

-

(61,285

)

(61,285

)

At 31 March 2018

140,863

2,221,534

2,362,397

NET BOOK VALUE

At 31 March 2018

904,202

610,214

1,514,416

At 31 March 2017

925,114

397,799

1,322,913

Assets held under finance leases and hire purchase originally cost £260,400 (2017: £nil) and have a net book

value of £244,610 (2017: £nil). Depreciation charged for the year was £15,790 (2017: £nil).

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

444,350

370,297

Amounts owed by group undertakings

3,389,075

4,389,075

Other debtors

59,177

51,748

3,892,602

4,811,120

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

220,463

151,676

Hire purchase contracts

75,451

-

Trade creditors

142,887

86,834

Taxation and social security

92,529

106,647

Other creditors

4,500

4,500

535,830

349,657

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

753,208

826,206

Hire purchase contracts

115,526

-

868,734

826,206

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

461,629

534,627

8.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank overdrafts

147,568

78,781

Bank loans

826,103

-

Hire purchase contracts

190,977

-

1,164,648

78,781

Barclays Bank Plc hold three outstanding charges over the company's property and assets. These fixed and

floating charges, created on 6th January 2017 and 10th January 2017.

The hire purchase contracts are secured on the relevant fleet vehicles of the company.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Julian Golding (Senior Statutory Auditor)

for and on behalf of Wilkins Kennedy Audit Services

10.	ULTIMATE CONTROLLING PARTY

The directors regard Unirtuc Limited as the ultimate parent company. The registered office of the parent

company is Greytown House, 221/227 High Street, Orpington, Kent, BR6 0NZ. The largest group of

undertakings for which group financial statements have been drawn up is that headed by Unitruc Limited.

Copies of the group financial statements may be obtained from Companies House.