REGISTERED NUMBER: |
DIRECTOR'S REPORT AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
FOR |
EVENTS & FREIGHT SOLUTIONS LIMITED |
REGISTERED NUMBER: |
DIRECTOR'S REPORT AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
FOR |
EVENTS & FREIGHT SOLUTIONS LIMITED |
EVENTS & FREIGHT SOLUTIONS LIMITED (REGISTERED NUMBER: 11113980) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
Page |
Company Information | 1 |
Director's Report | 2 |
Income Statement | 3 |
Other Comprehensive Income | 4 |
Balance Sheet | 5 |
Statement of Changes in Equity | 7 |
Notes to the Financial Statements | 8 |
EVENTS & FREIGHT SOLUTIONS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
9 Berners Place |
London |
W1T 3AD |
EVENTS & FREIGHT SOLUTIONS LIMITED (REGISTERED NUMBER: 11113980) |
DIRECTOR'S REPORT |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
The director presents his report with the financial statements of the company for the year ended 31 December 2022. |
PRINCIPAL ACTIVITIES |
The principal activities of the company in the year under review were those of freight transport by road and real estate. |
REVIEW OF BUSINESS |
The results for the year and financial position of the company are as shown in the annexed financial statements. |
FUTURE DEVELOPMENTS |
The company expects to maintain its highly successful relationship with its suppliers and the loyalty of its customers and hopes to continue its hitherto escalating growth pattern. |
DIRECTOR |
FINANCIAL INSTRUMENTS |
The company's principal financial instruments comprise bank balances and trade creditors. |
The main purpose of these instruments is to provide finance for its day to day operations. |
The trade creditors liquidity risks are managed by ensuring sufficient funds are available to meet the amounts due. |
DONATIONS |
£4,568 were paid to different UK registered charities. |
RELATED PARTY TRANSACTIONS |
Other than the transactions stated in note 12 and 13 to the financial statements, the director did not have any other material interests at any time during the year in any contracts of significance in relation to the business of the company. |
FIXED ASSETS |
Changes in fixed assets are given in notes 5 and 6 to the financial statements. |
TAXATION STATUS |
The Company is a close Company within the provisions of the Income & Corporation Taxes Act 2010. |
POST BALANCE SHEET EVENTS |
There were no significant events to report. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
EVENTS & FREIGHT SOLUTIONS LIMITED (REGISTERED NUMBER: 11113980) |
INCOME STATEMENT |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
2022 | 2021 |
Notes | £ | £ |
TURNOVER |
Cost of sales | ( |
) | ( |
) |
GROSS PROFIT |
Administrative expenses | ( |
) |
32,778 | (69,665 | ) |
Other operating income |
OPERATING PROFIT |
Income from participating interests |
PROFIT BEFORE TAXATION |
Tax on profit | 4 | ( |
) | ( |
) |
PROFIT FOR THE FINANCIAL YEAR |
EVENTS & FREIGHT SOLUTIONS LIMITED (REGISTERED NUMBER: 11113980) |
OTHER COMPREHENSIVE INCOME |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
2022 | 2021 |
Notes | £ | £ |
PROFIT FOR THE YEAR |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
EVENTS & FREIGHT SOLUTIONS LIMITED (REGISTERED NUMBER: 11113980) |
BALANCE SHEET |
31 DECEMBER 2022 |
2022 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings | 11 |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
EVENTS & FREIGHT SOLUTIONS LIMITED (REGISTERED NUMBER: 11113980) |
BALANCE SHEET - continued |
31 DECEMBER 2022 |
The financial statements were approved by the director and authorised for issue on |
EVENTS & FREIGHT SOLUTIONS LIMITED (REGISTERED NUMBER: 11113980) |
STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 January 2021 |
Changes in equity |
Total comprehensive income | - |
Balance at 31 December 2021 |
Changes in equity |
Total comprehensive income | - |
Balance at 31 December 2022 |
EVENTS & FREIGHT SOLUTIONS LIMITED (REGISTERED NUMBER: 11113980) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
1. | STATUTORY INFORMATION |
Events & Freight Solutions 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. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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. |
EVENTS & FREIGHT SOLUTIONS LIMITED (REGISTERED NUMBER: 11113980) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
Transactions in foreign currencies are translated at the foreign exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the foreign exchange rate ruling at that date. Foreign exchange differences arising on translation are recognised in the income statement. Non- monetary assets and liabilities that are measured in terms of the historical cost in a foreign currency are translated using the exchange rate at the date of the transaction. |
Long term monetary items are translated at the year end rate. |
The assets and liabilities of foreign operations arising on consolidation are translated at foreign exchange rates ruling at the balance sheet date. The revenues and expenses of foreign operations are translated at an average rate for the period where this rate approximates to the foreign exchange rates ruling at the dates of the transactions. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash at bank and on hand. |
Trade and other debtors |
Trade and other debtors are initially recognised at fair value,less impairment losses for bad and doubtful debts. |
Trade and other creditors |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as creditors falling due within one year if payment is due within one year or less (or in the normal operating cycle of the business if longer). If not, they are presented as creditors falling due after one year. |
Trade creditors are recognised at the undiscounted amount owed to the supplier, which is normally the invoice price. |
3. | EMPLOYEES AND DIRECTORS |
2022 | 2021 |
£ | £ |
Wages and salaries |
The average number of employees during the year was as follows: |
2022 | 2021 |
Sales & administration |
2022 | 2021 |
£ | £ |
Director's remuneration |
EVENTS & FREIGHT SOLUTIONS LIMITED (REGISTERED NUMBER: 11113980) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
4. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2022 | 2021 |
£ | £ |
Current tax: |
UK corporation tax |
Tax on profit |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is the same as the standard rate of corporation tax in the UK. |
2022 | 2021 |
£ | £ |
Profit before tax |
Profit multiplied by the standard rate of corporation tax in the UK of |
Effects of: |
Trading losses brought forward from last year | - | (273 | ) |
Total tax charge | 33,126 | 2,675 |
5. | FIXED ASSET INVESTMENTS |
Interest |
in other |
participating |
interests |
£ |
COST |
At 1 January 2022 |
and 31 December 2022 | 1,042,385 |
NET BOOK VALUE |
At 31 December 2022 | 1,042,385 |
At 31 December 2021 | 1,042,385 |
The company is an equal member in WEP Properties LLP. |
EVENTS & FREIGHT SOLUTIONS LIMITED (REGISTERED NUMBER: 11113980) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2022 |
Additions |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
Investment property was valued on an open market basis by the director. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Amounts owed by participating interests | 30,524 | - |
Other debtors |
Other taxation | - | 97,320 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
Corporation tax |
VAT | 3,201 | - |
Other creditors |
Accrued expenses |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Shareholder loan account |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary | 1 | 1,000 | 1,000 |
EVENTS & FREIGHT SOLUTIONS LIMITED (REGISTERED NUMBER: 11113980) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
11. | RESERVES |
Retained |
earnings |
£ |
At 1 January 2022 |
Profit for the year |
At 31 December 2022 |
12. | RELATED PARTY DISCLOSURES |
Events & Freight solutions Limited is a designated member of a limited liability partnership.The amounts due, disclosed under fixed asset investments, from the limited liability partnership at the balance sheet date was £1,042,385 (2021:£1,042,385).Amounts owed by participating interest, disclosed under debtors was £30,524 (2021:£Nil). |
At the balance sheet date the company owed £1,113,790 (2021:£1,168,112) to one of its shareholders.The shareholder's loan is non interest bearing and has no fixed repayment terms. |
The director of Events & Freight Solutions Ltd is also a director of another UK registered Company. |
During the year, Events & Freight Solutions Ltd sold goods amounting to £67,194(2021:£1,203,846) to the company and purchased goods amounting to £100,306(2021:£86,413) from the company. |
At the balance sheet date, the amounts due from the company was £11,020(2021:£37,981) and amounts payable to the company was £43,478 (2021 £2,881).During the year the company received management fees of £42,293 (2021:£75,317) from the related company. |
13. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |