Registered number
09203123
Express Freight Banbury Limited
Filleted Accounts
30 September 2023
Express Freight Banbury Limited
Registered number: 09203123
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 48,000 -
Tangible assets 4 38,611 47,859
86,611 47,859
Current assets
Debtors 5 215,081 263,146
Cash at bank and in hand 37,508 45,113
252,589 308,259
Creditors: amounts falling due within one year 6 (263,984) (267,528)
Net current (liabilities)/assets (11,395) 40,731
Total assets less current liabilities 75,216 88,590
Creditors: amounts falling due after more than one year 7 (10,695) (24,249)
Net assets 64,521 64,341
Capital and reserves
Called up share capital 100 100
Profit and loss account 64,421 64,241
Shareholders' funds 64,521 64,341
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr B Willson
Director
Approved by the board on 22 February 2024
Express Freight Banbury Limited
Notes to the Accounts
for the year ended 30 September 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Franchise Fee
A Franchise Fee is included in intangible assets and writte off over its useful life
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer Equipment 25% on reducing balance
Furniture & Fittings 15% on reducing balance
Motor Vehicles 25% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2022 207,957
Additions 60,000
At 30 September 2023 267,957
Amortisation
At 1 October 2022 207,957
Provided during the year 12,000
At 30 September 2023 219,957
Net book value
At 30 September 2023 48,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2022 21,472 45,418 66,890
Additions 1,169 - 1,169
At 30 September 2023 22,641 45,418 68,059
Depreciation
At 1 October 2022 12,218 6,813 19,031
Charge for the year 2,091 8,326 10,417
At 30 September 2023 14,309 15,139 29,448
Net book value
At 30 September 2023 8,332 30,279 38,611
At 30 September 2022 9,254 38,605 47,859
5 Debtors 2023 2022
£ £
Trade debtors 141,310 64,118
Other debtors 73,771 199,028
215,081 263,146
6 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 13,554 12,746
Trade creditors 144,162 159,137
Taxation and social security costs 11,083 20,560
Other creditors 95,185 75,085
263,984 267,528
7 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 10,695 24,249
8 Other information
Express Freight Banbury Limited is a private company limited by shares and incorporated in England. Its registered office is:
39 Bath Road
Banbury
Oxfordshire
OX16 0TU
Express Freight Banbury Limited 09203123 false 2022-10-01 2023-09-30 2023-09-30 VT Final Accounts October 2023 release 2 Mr B Willson No description of principal activity 09203123 2021-10-01 2022-09-30 09203123 core:WithinOneYear 2022-09-30 09203123 core:AfterOneYear 2022-09-30 09203123 core:ShareCapital 2022-09-30 09203123 core:RetainedEarningsAccumulatedLosses 2022-09-30 09203123 2022-10-01 2023-09-30 09203123 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 09203123 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 09203123 bus:Director40 2022-10-01 2023-09-30 09203123 1 2022-10-01 2023-09-30 09203123 2 2022-10-01 2023-09-30 09203123 core:Goodwill 2022-10-01 2023-09-30 09203123 core:PlantMachinery 2022-10-01 2023-09-30 09203123 core:Vehicles 2022-10-01 2023-09-30 09203123 countries:England 2022-10-01 2023-09-30 09203123 bus:FRS102 2022-10-01 2023-09-30 09203123 bus:FullAccounts 2022-10-01 2023-09-30 09203123 2023-09-30 09203123 core:WithinOneYear 2023-09-30 09203123 core:AfterOneYear 2023-09-30 09203123 core:ShareCapital 2023-09-30 09203123 core:RetainedEarningsAccumulatedLosses 2023-09-30 09203123 core:Goodwill 2023-09-30 09203123 core:PlantMachinery 2023-09-30 09203123 core:Vehicles 2023-09-30 09203123 2022-09-30 09203123 core:Goodwill 2022-09-30 09203123 core:PlantMachinery 2022-09-30 09203123 core:Vehicles 2022-09-30 iso4217:GBP xbrli:pure