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REGISTERED NUMBER: 05202892 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

INDEPENDENT FREIGHT SOLUTIONS LIMITED

INDEPENDENT FREIGHT SOLUTIONS LIMITED (REGISTERED NUMBER: 05202892)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 August 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INDEPENDENT FREIGHT SOLUTIONS LIMITED

COMPANY INFORMATION
for the year ended 31 August 2023







DIRECTORS: Ms J A Hooper
Mr D A Hooper





SECRETARY: Mr D A Hooper





REGISTERED OFFICE: 3 Pegasus House
Pegasus Court
Olympus Avenue
Warwick
Warwickshire
CV34 6LW





REGISTERED NUMBER: 05202892 (England and Wales)





ACCOUNTANTS: Pentlands Accountants and advisors Ltd
Chartered Certified Accountants
and Registered Auditors
3 & 4 Pegasus House
Pegasus Court
Olympus Avenue
Warwick
Warwickshire
CV34 6LW

INDEPENDENT FREIGHT SOLUTIONS LIMITED (REGISTERED NUMBER: 05202892)

BALANCE SHEET
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 56,391 60,658

CURRENT ASSETS
Debtors 5 192,992 365,739
Cash at bank and in hand 436,033 438,763
629,025 804,502
CREDITORS
Amounts falling due within one year 6 207,343 359,718
NET CURRENT ASSETS 421,682 444,784
TOTAL ASSETS LESS CURRENT
LIABILITIES

478,073

505,442

CREDITORS
Amounts falling due after more than one
year

7

(17,500

)

(27,500

)

PROVISIONS FOR LIABILITIES (8,513 ) (9,068 )
NET ASSETS 452,060 468,874

CAPITAL AND RESERVES
Called up share capital 99 99
Retained earnings 451,961 468,775
SHAREHOLDERS' FUNDS 452,060 468,874

INDEPENDENT FREIGHT SOLUTIONS LIMITED (REGISTERED NUMBER: 05202892)

BALANCE SHEET - continued
31 August 2023


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

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

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 April 2024 and were signed on its behalf by:





Mr D A Hooper - Director


INDEPENDENT FREIGHT SOLUTIONS LIMITED (REGISTERED NUMBER: 05202892)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 August 2023


1. STATUTORY INFORMATION

Independent Freight Solutions 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Website - 20% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost and 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

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 15 (2022 - 15 ) .

INDEPENDENT FREIGHT SOLUTIONS LIMITED (REGISTERED NUMBER: 05202892)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2023


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property Website fittings
£    £    £   
COST
At 1 September 2022 48,923 - 15,447
Additions 2,255 4,982 408
At 31 August 2023 51,178 4,982 15,855
DEPRECIATION
At 1 September 2022 9,785 - 6,304
Charge for year 5,117 996 1,433
At 31 August 2023 14,902 996 7,737
NET BOOK VALUE
At 31 August 2023 36,276 3,986 8,118
At 31 August 2022 39,138 - 9,143

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2022 4,950 28,174 97,494
Additions - 1,995 9,640
At 31 August 2023 4,950 30,169 107,134
DEPRECIATION
At 1 September 2022 4,289 16,458 36,836
Charge for year 165 6,196 13,907
At 31 August 2023 4,454 22,654 50,743
NET BOOK VALUE
At 31 August 2023 496 7,515 56,391
At 31 August 2022 661 11,716 60,658

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 183,849 355,315
Other debtors 9,143 10,424
192,992 365,739

INDEPENDENT FREIGHT SOLUTIONS LIMITED (REGISTERED NUMBER: 05202892)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 130,087 191,633
Taxation and social security 44,849 76,781
Other creditors 22,407 81,304
207,343 359,718

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 17,500 27,500

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 13,250 13,250
Between one and five years 13,250 26,500
26,500 39,750

9. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors.