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Company registration number: 01494526

Northern Freight Services Limited

Filleted Unaudited Financial Statements

for the Year Ended 30 September 2023

 

Northern Freight Services Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

Northern Freight Services Limited

Company Information

Directors

D B Cruickshanks

D Hoofe

D Goldstraw

M A Hoofe

Company secretary

D Goldstraw

Registered office

Units 1-2
Abbey Lane Industrial Estate
Abbey Lane
Ormskirk
Lancashire
L40 7SR

Accountants

BK Plus Limited
Chartered Certified Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Northern Freight Services Limited
for the Year Ended 30 September 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Northern Freight Services Limited for the year ended 30 September 2023 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Northern Freight Services Limited, as a body, in accordance with the terms of our engagement letter dated 10 March 2020. Our work has been undertaken solely to prepare for your approval the accounts of Northern Freight Services Limited and state those matters that we have agreed to state to the Board of Directors of Northern Freight Services Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Northern Freight Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Northern Freight Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Northern Freight Services Limited. You consider that Northern Freight Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Northern Freight Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

BK Plus Limited
Chartered Certified Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

22 April 2024

 

Northern Freight Services Limited

(Registration number: 01494526)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

242,374

90,581

Other financial assets

5

1

1

 

242,375

90,582

Current assets

 

Stocks

2,666

3,522

Debtors

6

345,453

271,379

Investments

7

10,810

10,810

Cash at bank and in hand

 

203,001

314,554

 

561,930

600,265

Creditors: Amounts falling due within one year

8

(180,842)

(162,832)

Net current assets

 

381,088

437,433

Total assets less current liabilities

 

623,463

528,015

Provisions for liabilities
Deferred tax

(59,459)

(16,293)

Net assets

 

564,004

511,722

Capital and reserves

 

Called up share capital

2,002

2,002

Capital redemption reserve

200,000

200,000

Retained earnings

362,002

309,720

Shareholders' funds

 

564,004

511,722

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Northern Freight Services Limited

(Registration number: 01494526)
Balance Sheet as at 30 September 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 April 2024 and signed on its behalf by:
 

.........................................
M A Hoofe
Director










 

 

Northern Freight Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Units 1-2
Abbey Lane Industrial Estate
Abbey Lane
Ormskirk
Lancashire
L40 7SR

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Revenue is recognised when the company has delivered the goods and services to the customer, and is net of rebates, discounts and value added tax.

Tax

The tax expense for the period comprises current and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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.

Tangible assets

Tangible assets are stated in the balance sheet, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

 

Northern Freight Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

25% straight line

Fixtures, fittings & equipment

25% straight line

Motor vehicles

25% straight line

Property improvements

33% straight line

Investments

Fixed asset investments are initially recorded at cost less any accumulated impairment losses.

Current asset investments are stated at the lower of cost and net realisable value.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Defined contribution pension obligation

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company.The annual contributions payable are charged to the profit and loss account.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2022 - 16).

4

Tangible assets

Fixtures, fittings & equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2022

144,186

253,147

397,333

Additions

12,546

180,303

192,849

Disposals

-

(23,500)

(23,500)

At 30 September 2023

156,732

409,950

566,682

Depreciation

At 1 October 2022

133,705

173,047

306,752

Charge for the year

4,131

21,034

25,165

Eliminated on disposal

-

(7,609)

(7,609)

At 30 September 2023

137,836

186,472

324,308

Carrying amount

At 30 September 2023

18,896

223,478

242,374

At 30 September 2022

10,481

80,100

90,581

 

Northern Freight Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 October 2022

30,000

30,000

At 30 September 2023

30,000

30,000

Impairment

At 1 October 2022

29,999

29,999

At 30 September 2023

29,999

29,999

Carrying amount

At 30 September 2023

1

1

 

Northern Freight Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

6

Debtors

2023
£

2022
£

Trade debtors

266,931

206,805

Other debtors

78,522

64,574

345,453

271,379

7

Current asset investments

2023
£

2022
£

Other investments

10,810

10,810

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

110,300

73,372

Taxation and social security

33,671

52,556

Accruals and deferred income

14,893

19,341

Other creditors

21,978

17,563

180,842

162,832

 

Northern Freight Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

9

Related party transactions

Transactions with directors

2023

At 1 October 2022
£

Advances to director
£

Repayments by director
£

At 30 September 2023
£

M A Hoofe

Loan

588

-

(588)

-

         
       

 

2022

At 1 October 2021
£

Advances to director
£

At 30 September 2022
£

M A Hoofe

Loan

-

588

588