Company registration number:
Northern Freight Services Limited
for the Year Ended 30 September 2023
Northern Freight Services Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Northern Freight Services Limited
Company Information
Directors |
D B Cruickshanks D Hoofe D Goldstraw M A Hoofe |
Company secretary |
D Goldstraw |
Registered office |
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Accountants |
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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.
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Chartered Certified Accountants
St. Helens
Merseyside
WA9 1UA
Northern Freight Services Limited
(Registration number: 01494526)
Balance Sheet as at 30 September 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Other financial assets |
1 |
1 |
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Current assets |
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Stocks |
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Debtors |
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Investments |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities
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( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Capital redemption reserve |
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Retained earnings |
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Shareholders' funds |
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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:
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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
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Northern Freight Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Fixtures, fittings & equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 October 2022 |
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Additions |
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Disposals |
- |
( |
( |
At 30 September 2023 |
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Depreciation |
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At 1 October 2022 |
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Charge for the year |
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Eliminated on disposal |
- |
( |
( |
At 30 September 2023 |
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Carrying amount |
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At 30 September 2023 |
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At 30 September 2022 |
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Northern Freight Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023
Other financial assets (current and non-current) |
Financial assets at cost less impairment |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 October 2022 |
30,000 |
30,000 |
At 30 September 2023 |
30,000 |
30,000 |
Impairment |
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At 1 October 2022 |
29,999 |
29,999 |
At 30 September 2023 |
29,999 |
29,999 |
Carrying amount |
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At 30 September 2023 |
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1 |
Northern Freight Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023
Debtors |
2023 |
2022 |
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Trade debtors |
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Other debtors |
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Current asset investments |
2023 |
2022 |
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Other investments |
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Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Northern Freight Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023
Related party transactions |
Transactions with directors |
2023 |
At 1 October 2022 |
Advances to director |
Repayments by director |
At 30 September 2023 |
M A Hoofe |
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Loan |
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- |
( |
- |
2022 |
At 1 October 2021 |
Advances to director |
At 30 September 2022 |
M A Hoofe |
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Loan |
- |
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