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Registration number: 03491390

Wymondham Freight Services Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2023

 

Wymondham Freight Services Limited

Contents


 

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Wymondham Freight Services Limited

Registration number: 03491390

Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

116,772

120,219

Current assets

 

Debtors

5

53,798

47,671

Cash at bank and in hand

 

67,001

114,917

 

120,799

162,588

Creditors: Amounts falling due within one year

6

(127,112)

(72,161)

Net current (liabilities)/assets

 

(6,313)

90,427

Total assets less current liabilities

 

110,459

210,646

Provisions for liabilities

-

(622)

Net assets

 

110,459

210,024

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

110,359

209,924

Total equity

 

110,459

210,024



The director's statements required by sections 475 (2) and (3) are shown on the following page which forms part of this Balance Sheet.

 

Wymondham Freight Services Limited

Registration number: 03491390

Balance Sheet as at 31 January 2023 (continued)

For the financial year ending 31 January 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 October 2023 and signed on its behalf by:
 


S J Howard
Director


A E Howard
Director

 

Wymondham Freight Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Wymondham Business Centre
1 Town Green
Wymondham
Norfolk
NR18 0PN
England

The principal place of business is:
Unit 11
Allenbrooks Way
Wymondham
Norfolk
NR18 0NW

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

 

Wymondham Freight Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023 (continued)

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets. Government grants in relation to expenditure are credited whth the expenditure is charged to the profit and loss.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Wymondham Freight Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and Buildings

2% Straight line method

Plant and machinery

25% Reducing balance method

Fixtures, fittings and equipment

15% Reducing balance method

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

Wymondham Freight Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023 (continued)

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 February 2022

173,080

15,793

8,100

196,973

Additions

-

612

-

612

At 31 January 2023

173,080

16,405

8,100

197,585

Depreciation

At 1 February 2022

56,130

12,659

7,965

76,754

Charge for the year

3,462

562

35

4,059

At 31 January 2023

59,592

13,221

8,000

80,813

Carrying amount

At 31 January 2023

113,488

3,184

100

116,772

At 31 January 2022

116,950

3,134

135

120,219

Included within the net book value of land and buildings above is £113,488 (2022 - £116,950) in respect of freehold land and buildings.
 

 

Wymondham Freight Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023 (continued)

5

Debtors

Current

2023
£

2022
£

Trade debtors

46,155

47,609

Prepayments

-

62

Other debtors

7,643

-

 

53,798

47,671

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

45,645

61,570

Directors loan accounts

80,450

1,681

Taxation and social security

 

-

8,452

Other creditors

 

1,017

458

 

127,112

72,161

 

Wymondham Freight Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023 (continued)

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

80

80

80

80

Ordinary shares class A of £1 each

10

10

10

10

Ordinary shares class B of £1 each

10

10

10

10

 

100

100

100

100