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REGISTERED NUMBER: 04877439 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

FREEMANS AUTOLOGISTICS LIMITED

FREEMANS AUTOLOGISTICS LIMITED (REGISTERED NUMBER: 04877439)






Contents of the Financial Statements
for the year ended 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FREEMANS AUTOLOGISTICS LIMITED

Company Information
for the year ended 31 DECEMBER 2023







DIRECTORS: P J Freeman
P J Freeman





SECRETARY: P J Freeman





REGISTERED OFFICE: 191 Avenue Road
RUSHDEN
Northamptonshire
NN10 0SN





REGISTERED NUMBER: 04877439 (England and Wales)





ACCOUNTANT: Elsby & Co
155 Wellingborough Road
Rushden
Northamptonshire
NN10 9TB

FREEMANS AUTOLOGISTICS LIMITED (REGISTERED NUMBER: 04877439)

Balance Sheet
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 346,166 459,868
346,166 459,868

CURRENT ASSETS
Debtors 6 539,944 508,088
Cash at bank 39,982 34,046
579,926 542,134
CREDITORS
Amounts falling due within one year 7 472,910 627,542
NET CURRENT ASSETS/(LIABILITIES) 107,016 (85,408 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

453,182

374,460

CREDITORS
Amounts falling due after more than one year 8 - (164,856 )

PROVISIONS FOR LIABILITIES (20,485 ) (38,112 )
NET ASSETS 432,697 171,492

CAPITAL AND RESERVES
Called up share capital 11 10,000 10,000
Retained earnings 422,697 161,492
SHAREHOLDERS' FUNDS 432,697 171,492

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

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

FREEMANS AUTOLOGISTICS LIMITED (REGISTERED NUMBER: 04877439)

Balance Sheet - continued
31 DECEMBER 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 Board of Directors and authorised for issue on 2 April 2024 and were signed on its behalf by:





P J Freeman - Director


FREEMANS AUTOLOGISTICS LIMITED (REGISTERED NUMBER: 04877439)

Notes to the Financial Statements
for the year ended 31 DECEMBER 2023

1. STATUTORY INFORMATION

Freemans Autologistics 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 represents net invoiced sales of goods and services supplied to customers during the year, excluding value added tax.

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.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - Straight line over 5 years
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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.

FREEMANS AUTOLOGISTICS LIMITED (REGISTERED NUMBER: 04877439)

Notes to the Financial Statements - continued
for the year ended 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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 the 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.

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 8 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 5,000
AMORTISATION
At 1 January 2023
and 31 December 2023 5,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

FREEMANS AUTOLOGISTICS LIMITED (REGISTERED NUMBER: 04877439)

Notes to the Financial Statements - continued
for the year ended 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 79,685 5,738 1,715,556 23,350 1,824,329
Additions - - 5,000 1,095 6,095
Disposals - - (43,148 ) - (43,148 )
At 31 December 2023 79,685 5,738 1,677,408 24,445 1,787,276
DEPRECIATION
At 1 January 2023 79,685 5,478 1,258,863 20,435 1,364,461
Charge for year - 52 112,662 1,323 114,037
Eliminated on disposal - - (37,388 ) - (37,388 )
At 31 December 2023 79,685 5,530 1,334,137 21,758 1,441,110
NET BOOK VALUE
At 31 December 2023 - 208 343,271 2,687 346,166
At 31 December 2022 - 260 456,693 2,915 459,868

The net book value of tangible fixed assets includes £ 90,537 (2022 - £ 238,162 ) in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 483,286 460,417
Other debtors 56,658 47,671
539,944 508,088

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 50,000
Hire purchase contracts (see note 9) 48,674 169,293
Trade creditors 94,487 126,169
Taxation and social security 225,557 88,145
Other creditors 104,192 193,935
472,910 627,542

FREEMANS AUTOLOGISTICS LIMITED (REGISTERED NUMBER: 04877439)

Notes to the Financial Statements - continued
for the year ended 31 DECEMBER 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 116,666
Hire purchase contracts (see note 9) - 48,190
- 164,856

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 48,674 169,293
Between one and five years - 48,190
48,674 217,483

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 166,666
Hire purchase contracts 48,674 217,483
48,674 384,149

HSBC Invoice Finance (UK) Ltd holds a fixed and floating charge over the company's assets for all monies due to them.

The hire purchase creditors are secured on the assets to which they relate.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary £1 10,000 10,000