REGISTERED NUMBER: 01161351 (England and Wales)

A.A. LOCK TRANSPORT (HEADCORN) LIMITED

Unaudited Financial Statements

For The Year Ended 31st March 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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)

FIXED ASSETS

Tangible assets

4

1,322,913

1,430,147

CURRENT ASSETS

Stocks

15,340

68,500

Debtors

5

4,811,120

537,218

Cash at bank and in hand

4,924

3,273,007

4,831,384

3,878,725

CREDITORS

Amounts falling due within one year

6

349,657

174,173

NET CURRENT ASSETS

4,481,727

3,704,552

TOTAL ASSETS LESS CURRENT LIABILITIES

5,804,640

5,134,699

CREDITORS

Amounts falling due after more than one year

7

(826,206

)

-

PROVISIONS FOR LIABILITIES

(48,391

)

(71,316

)

NET ASSETS

4,930,043

5,063,383

CAPITAL AND RESERVES

Called up share capital

2,000

2,000

Retained earnings

4,928,043

5,061,383

SHAREHOLDERS' FUNDS

4,930,043

5,063,383

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 15th December 2017 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.

Freehold property

-

2% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1st April 2016

1,045,065

1,700,109

10,531

893,445

3,649,150

Additions

-

6,810

3,748

9,500

20,058

At 31st March 2017

1,045,065

1,706,919

14,279

902,945

3,669,208

DEPRECIATION

At 1st April 2016

109,481

1,522,229

10,055

577,238

2,219,003

Charge for year

10,470

36,938

634

79,250

127,292

At 31st March 2017

119,951

1,559,167

10,689

656,488

2,346,295

NET BOOK VALUE

At 31st March 2017

925,114

147,752

3,590

246,457

1,322,913

At 31st March 2016

935,584

177,880

476

316,207

1,430,147

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

370,297

482,096

Amounts owed by group undertakings

4,389,075

-

Other debtors

51,748

55,122

4,811,120

537,218

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

151,676

-

Trade creditors

86,834

55,549

Taxation and social security

106,647

116,424

Other creditors

4,500

2,200

349,657

174,173

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

826,206

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

534,627

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdraft

78,781

-

The bank overdraft facility is secured by a floating charge over the company's assets.

9.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is Unitruc Limited, a company registered in England and Wales.

The ultimate controlling party is R Horsfall by virtue of his directorship and beneficial interest in the

shareholdings of Unitruc Limited.

10.	FIRST YEAR ADOPTION

This is the first year that A.A. Lock Transport (Headcorn) Limited has prepared its results under FRS 102. The

last financial statements prepared under UK GAAP were for the year ended 31st March 2016. The date of

transition to FRS 102 was 1st April 2015.

No transition differences have been identified on transition from previous UK GAAP to FRS 102. As such, no

transition tables are presented showing the differences between the financial statements as presented under

previous GAAP and as presented under FRS 102.