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REGISTERED NUMBER: 04441974 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Transswift Freight Services Limited

Transswift Freight Services Limited (Registered number: 04441974)






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


Transswift Freight Services Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: C A Murchan
B Murchan





SECRETARY: B Murchan





REGISTERED OFFICE: 2 Heap Bridge
Bury
Lancashire
BL9 7HR





REGISTERED NUMBER: 04441974 (England and Wales)





ACCOUNTANTS: Thompson Jones Business Solutions Limited
2 Heap Bridge
Bury
Lancashire
BL9 7HR

Transswift Freight Services Limited (Registered number: 04441974)

Balance Sheet
31 August 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 233,522 243,622
233,522 243,622

CURRENT ASSETS
Debtors 7 86,209 104,878
Cash at bank and in hand 65,958 87,386
152,167 192,264
CREDITORS
Amounts falling due within one year 8 (182,476 ) (182,336 )
NET CURRENT (LIABILITIES)/ASSETS (30,309 ) 9,928
TOTAL ASSETS LESS CURRENT
LIABILITIES

203,213

253,550

CREDITORS
Amounts falling due after more than one
year

9

(45,506

)

(98,554

)

PROVISIONS FOR LIABILITIES (42,000 ) (41,000 )
NET ASSETS 115,707 113,996

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 115,705 113,994
SHAREHOLDERS' FUNDS 115,707 113,996

Transswift Freight Services Limited (Registered number: 04441974)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 February 2024 and were signed on its behalf by:





C A Murchan - Director


Transswift Freight Services Limited (Registered number: 04441974)

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

1. STATUTORY INFORMATION

The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
2 Heap Bridge
Bury
Lancashire
BL9 7HR

The principal place of business is:
Scotts Industrial Estate
Fishwick Street
Rochdale
Lancashire
OL16 5NA

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

BASIS OF PREPARATION
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of ten years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Transswift Freight Services Limited (Registered number: 04441974)

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

3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 14 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 34,303
AMORTISATION
At 1 September 2022
and 31 August 2023 34,303
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 -

Transswift Freight Services Limited (Registered number: 04441974)

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

6. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2022 16,300 422,000 1,810 440,110
Additions - 53,000 - 53,000
Disposals - (36,375 ) - (36,375 )
At 31 August 2023 16,300 438,625 1,810 456,735
DEPRECIATION
At 1 September 2022 9,291 185,387 1,810 196,488
Charge for year 1,280 58,950 - 60,230
Eliminated on disposal - (33,505 ) - (33,505 )
At 31 August 2023 10,571 210,832 1,810 223,213
NET BOOK VALUE
At 31 August 2023 5,729 227,793 - 233,522
At 31 August 2022 7,009 236,613 - 243,622

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 84,939 101,340
Other debtors 1,270 3,538
86,209 104,878

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 59,500 60,862
Trade creditors 16,979 28,123
Amounts owed to group undertakings 40,042 40,042
Taxation and social security 35,363 40,346
Other creditors 30,592 12,963
182,476 182,336

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 20,044 29,973
Hire purchase contracts 25,462 68,581
45,506 98,554

Included in loans and borrowings is £74,878 (2022: £119,353) secured on the assets of the company.