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REGISTERED NUMBER: 12367360 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

FREIGHTNORDIC Logistics Ltd

FREIGHTNORDIC Logistics Ltd (Registered number: 12367360)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FREIGHTNORDIC Logistics Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTOR: A R T Bonner





REGISTERED OFFICE: Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW





REGISTERED NUMBER: 12367360 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

FREIGHTNORDIC Logistics Ltd (Registered number: 12367360)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 89,595 57,807

CURRENT ASSETS
Debtors 5 1,437,497 1,536,470
Cash at bank 594,641 244,726
2,032,138 1,781,196
CREDITORS
Amounts falling due within one year 6 (1,713,072 ) (1,331,872 )
NET CURRENT ASSETS 319,066 449,324
TOTAL ASSETS LESS CURRENT
LIABILITIES

408,661

507,131

CREDITORS
Amounts falling due after more than one
year

7

(147,373

)

(212,407

)

PROVISIONS FOR LIABILITIES (15,461 ) (10,983 )
NET ASSETS 245,827 283,741

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 245,727 283,641
245,827 283,741

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

FREIGHTNORDIC Logistics Ltd (Registered number: 12367360)

Balance Sheet - continued
31 May 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 director and authorised for issue on 5 January 2024 and were signed by:





A R T Bonner - Director


FREIGHTNORDIC Logistics Ltd (Registered number: 12367360)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

FREIGHTNORDIC Logistics Ltd 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.
Improvements to property - 20% on cost
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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 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.

FREIGHTNORDIC Logistics Ltd (Registered number: 12367360)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

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.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease

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 14 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2022 - 3,983 60,538 3,878 68,399
Additions 54,438 2,585 - 13,821 70,844
At 31 May 2023 54,438 6,568 60,538 17,699 139,243
DEPRECIATION
At 1 June 2022 - 1,588 7,067 1,937 10,592
Charge for year 18,852 996 13,368 5,840 39,056
At 31 May 2023 18,852 2,584 20,435 7,777 49,648
NET BOOK VALUE
At 31 May 2023 35,586 3,984 40,103 9,922 89,595
At 31 May 2022 - 2,395 53,471 1,941 57,807

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 1,157,932 1,082,581
Other debtors 279,565 453,889
1,437,497 1,536,470

Other debtors includes prepayments and accrued income of £8,456 (2022: £8,528).

FREIGHTNORDIC Logistics Ltd (Registered number: 12367360)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 59,994 59,747
Hire purchase contracts 5,040 4,674
Trade creditors 1,537,948 1,220,703
Taxation and social security 26,253 42,269
Other creditors 83,837 4,479
1,713,072 1,331,872

Other creditors includes accruals and deferred income of £2,429 (2022: £2,479).

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 120,752 180,746
Hire purchase contracts 26,621 31,661
147,373 212,407

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Hire purchase contracts 31,661 36,335
Bank loans 150,000 200,000
181,661 236,335

The hire purchase liabilities are secured against the assets being so acquired.

The bank loan is secured via a fixed and floating charge over the assets of the company.

9. OTHER FINANCIAL COMMITMENTS

The amount of financial commitments, guarantees and contingencies that are not included in the balance sheet is £39,649 (2022: £NIL).

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

31.5.23 31.5.22
£    £   
A R T Bonner
Balance outstanding at start of year - -
Amounts advanced 58,684 27,000
Amounts repaid (58,684 ) (27,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

FREIGHTNORDIC Logistics Ltd (Registered number: 12367360)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued

Interest was charged on the above loan at HM Revenue and Customs official rate of interest. The loan was repayable on demand.