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Company Registration No. 07675342 (England and Wales)
CAN Freight Ltd Unaudited accounts for the year ended 30 June 2023
CAN Freight Ltd Unaudited accounts Contents
Page
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CAN Freight Ltd Company Information for the year ended 30 June 2023
Directors
Mr C Meredith Mr N Meredith
Company Number
07675342 (England and Wales)
Registered Office
Unit 8 Nash Mead Newport NP19 4SU
Accountants
Nathan Evans Limited 16 Cambrian Way Marshfield Cardiff CF3 2WB
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of CAN Freight Ltd for the year ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of CAN Freight Ltd for the year ended 30 June 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 7/16 as detailed at icaew.com/compilation.
Nathan Evans Limited Chartered Accountants 16 Cambrian Way Marshfield Cardiff CF3 2WB 3 October 2023
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CAN Freight Ltd Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
83,194 
72,609 
Current assets
Debtors
67,013 
63,799 
Cash at bank and in hand
7,935 
25,959 
74,948 
89,758 
Creditors: amounts falling due within one year
(72,028)
(67,894)
Net current assets
2,920 
21,864 
Total assets less current liabilities
86,114 
94,473 
Creditors: amounts falling due after more than one year
(19,981)
(21,992)
Net assets
66,133 
72,481 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
66,131 
72,479 
Shareholders' funds
66,133 
72,481 
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 3 October 2023 and were signed on its behalf by
Mr C Meredith Director Company Registration No. 07675342
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CAN Freight Ltd Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
CAN Freight Ltd is a private company, limited by shares, registered in England and Wales, registration number 07675342. The registered office is Unit 8, Nash Mead, Newport, NP19 4SU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% straight line
Leased assets
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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CAN Freight Ltd Notes to the Accounts for the year ended 30 June 2023
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 July 2022
93,184 
Additions
29,000 
At 30 June 2023
122,184 
Depreciation
At 1 July 2022
20,575 
Charge for the year
18,415 
At 30 June 2023
38,990 
Net book value
At 30 June 2023
83,194 
At 30 June 2022
72,609 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
67,013 
63,799 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
21,011 
12,567 
Trade creditors
5,426 
8,043 
Taxes and social security
44,533 
46,089 
Other creditors
189 
326 
Loans from directors
869 
869 
72,028 
67,894 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
19,981 
21,992 
8
Controlling party
Mr C Meredith and Mr N Meredith are both directors and 50% shareholders and have jointly controlled the company during the current and prior year. During the year, the company paid dividends of £34,424 (2022: £35,907) to Mr C Meredith and £35,424 (2022: £35,407) to Mr N Meredith.
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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