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REGISTERED NUMBER: 08632231 (England and Wales)















PROFESSIONAL FREIGHT MANAGEMENT LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2023






PROFESSIONAL FREIGHT MANAGEMENT LIMITED (REGISTERED NUMBER: 08632231)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PROFESSIONAL FREIGHT MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2023







DIRECTORS: F S Malkin
A J Malkin





REGISTERED OFFICE: Building 868
Bro Tathan North
Picketston
St. Athan
Vale of Glamorgan
CF62 4QR





REGISTERED NUMBER: 08632231 (England and Wales)





ACCOUNTANTS: Carston Chartered Accountants
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ

PROFESSIONAL FREIGHT MANAGEMENT LIMITED (REGISTERED NUMBER: 08632231)

STATEMENT OF FINANCIAL POSITION
31ST JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,050
Tangible assets 5 4,060 8,639
4,060 9,689

CURRENT ASSETS
Debtors 6 68,568 51,858
Cash at bank and in hand 439,906 695,561
508,474 747,419
CREDITORS
Amounts falling due within one year 7 201,759 473,101
NET CURRENT ASSETS 306,715 274,318
TOTAL ASSETS LESS CURRENT LIABILITIES 310,775 284,007

PROVISIONS FOR LIABILITIES 20,667 20,667
NET ASSETS 290,108 263,340

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 289,108 262,340
SHAREHOLDERS' FUNDS 290,108 263,340

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2023 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.

PROFESSIONAL FREIGHT MANAGEMENT LIMITED (REGISTERED NUMBER: 08632231)

STATEMENT OF FINANCIAL POSITION - continued
31ST JULY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24th October 2023 and were signed on its behalf by:





F S Malkin - Director


PROFESSIONAL FREIGHT MANAGEMENT LIMITED (REGISTERED NUMBER: 08632231)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023


1. STATUTORY INFORMATION

Professional Freight Management 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% straight line on cost
Equipment - 20% straight line on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PROFESSIONAL FREIGHT MANAGEMENT LIMITED (REGISTERED NUMBER: 08632231)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st August 2022
and 31st July 2023 10,500
AMORTISATION
At 1st August 2022 9,450
Amortisation for year 1,050
At 31st July 2023 10,500
NET BOOK VALUE
At 31st July 2023 -
At 31st July 2022 1,050

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings Equipment Totals
£    £    £   
COST
At 1st August 2022
and 31st July 2023 37,283 34,918 72,201
DEPRECIATION
At 1st August 2022 37,283 26,279 63,562
Charge for year - 4,579 4,579
At 31st July 2023 37,283 30,858 68,141
NET BOOK VALUE
At 31st July 2023 - 4,060 4,060
At 31st July 2022 - 8,639 8,639

PROFESSIONAL FREIGHT MANAGEMENT LIMITED (REGISTERED NUMBER: 08632231)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 40,568 42,658
Other debtors 28,000 9,200
68,568 51,858

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 27,127 69,792
Other creditors 174,632 403,309
201,759 473,101

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000