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Registered Number: 06225057
England & Northern Ireland

 

 

 

GLOBAL BUSINESS FREIGHT LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2022

End date: 31 May 2023
Directors Gerald Michael Burns
Maria Elizabeth Burns
Registered Number 06225057
Registered Office The Amphenol Building
Rutherford Drive
Park Farm Ind. Estate, Wellingborough
Northants
NN8 6AX
Accountants Denton Tavara Ltd
61a High Street South
Rushden
NN10 0RA
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 May 2023.
Principal activities
Principal activity of the company during the financial year was of buying and selling of parcel delivery services.
Directors
The directors who served the company throughout the year were as follows:
Gerald Michael Burns
Maria Elizabeth Burns
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Maria Elizabeth Burns
Director

Date approved: 22 November 2023
2
Accountants report
You consider that the company is exempt from an audit for the year ended 31 May 2023 . You have acknowledged, on the Statement of Financial Position , your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Income Statement, the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.



....................................................
Denton Tavara Ltd
61a High Street South
Rushden
NN10 0RA
22 November 2023
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 3,315    4,419 
3,315    4,419 
Current assets      
Debtors 5 357,121    384,177 
Cash at bank and in hand 124,829    97,691 
481,950    481,868 
Creditors: amount falling due within one year 6 (174,318)   (287,800)
Net current assets 307,632    194,068 
 
Total assets less current liabilities 310,947    198,487 
Provisions for liabilities 7 (663)   (1,651)
Net assets 310,284    196,836 
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account 310,282    196,834 
Shareholder's funds 310,284    196,836 
 


For the year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 22 November 2023 and were signed on its behalf by:


-------------------------------
Maria Elizabeth Burns
Director
4
General Information
Global Business Freight Limited is a private company, limited by shares, registered in England & Northern Ireland, registration number 06225057, registration address The Amphenol Building, Rutherford Drive, Park Farm Ind. Estate, Wellingborough, Northants, NN8 6AX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Franchise Fees
Franchise Fees is stated at cost less amortization. Amortization is calculated on a straight line basis over the estimated expected useful economic life of the Franchise Fees of 5 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 8 (2022 : 6).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 June 2022 59,500    59,500 
Additions  
Disposals  
At 31 May 2023 59,500    59,500 
Amortisation
At 01 June 2022 59,500    59,500 
Charge for year  
On disposals  
At 31 May 2023 59,500    59,500 
Net book values
At 31 May 2023  
At 31 May 2022  


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 June 2022 23,535    23,535 
Additions  
Disposals  
At 31 May 2023 23,535    23,535 
Depreciation
At 01 June 2022 19,116    19,116 
Charge for year 1,104    1,104 
On disposals  
At 31 May 2023 20,220    20,220 
Net book values
Closing balance as at 31 May 2023 3,315    3,315 
Opening balance as at 01 June 2022 4,419    4,419 


5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 308,360    344,763 
Other Debtors 6,000   
VAT 42,761    39,414 
357,121    384,177 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 48,687    170,506 
Amounts Owed to Group Undertakings 11,627    12,484 
Corporation Tax 90,907    93,997 
PAYE & Social Security 4,613    3,477 
Other Creditors 11,319    2,836 
Directors' Current Accounts 7,165    4,500 
174,318    287,800 

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 1,651    1,651 
Deferred Tax Charged to Profit & Loss (988)  
663    1,651 

8.

Controlling Party

The Companies ultimate controlling party is Folan Moussoro Joubert Limited, a Company registered in England and Wales.
5