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REGISTERED NUMBER: 01788481 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

STRAIGHT FREIGHT LIMITED

STRAIGHT FREIGHT LIMITED (REGISTERED NUMBER: 01788481)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


STRAIGHT FREIGHT LIMITED (REGISTERED NUMBER: 01788481)

BALANCE SHEET
31 December 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 40,649 53,538

CURRENT ASSETS
Debtors 5 222,905 394,821
Cash at bank and in hand 475,064 447,303
697,969 842,124
CREDITORS
Amounts falling due within one year 6 295,998 509,589
NET CURRENT ASSETS 401,971 332,535
TOTAL ASSETS LESS CURRENT
LIABILITIES

442,620

386,073

CREDITORS
Amounts falling due after more than one
year

7

(25,396

)

(46,252

)

PROVISIONS FOR LIABILITIES (10,000 ) (13,815 )
NET ASSETS 407,224 326,006

CAPITAL AND RESERVES
Called up share capital 2,536 2,536
Capital redemption reserve 360 360
Retained earnings 404,328 323,110
SHAREHOLDERS' FUNDS 407,224 326,006

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.

STRAIGHT FREIGHT LIMITED (REGISTERED NUMBER: 01788481)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 August 2024 and were signed on its behalf by:





Mrs K L Woods - Director


STRAIGHT FREIGHT LIMITED (REGISTERED NUMBER: 01788481)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Straight Freight Limited is a private company registered in England and Wales. The company's registered number is 01788481and registered office address is Unit 2 The Camgate Centre, Long Lane, Stanwell, Staines, Middlesex TW19 7AX.

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 services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

STRAIGHT FREIGHT LIMITED (REGISTERED NUMBER: 01788481)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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 7 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 1 January 2023 58,721 216,817 275,538
Additions - 660 660
At 31 December 2023 58,721 217,477 276,198
DEPRECIATION
At 1 January 2023 58,718 163,282 222,000
Charge for year - 13,549 13,549
At 31 December 2023 58,718 176,831 235,549
NET BOOK VALUE
At 31 December 2023 3 40,646 40,649
At 31 December 2022 3 53,535 53,538


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 160,414 332,229
Other debtors 62,491 62,592
222,905 394,821

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 10,648 10,648
Hire purchase contracts (see note 8) 11,229 11,229
Trade creditors 193,873 364,245
Taxation and social security 32,596 38,964
Other creditors 47,652 84,503
295,998 509,589

STRAIGHT FREIGHT LIMITED (REGISTERED NUMBER: 01788481)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans 15,103 24,730
Hire purchase contracts (see note 8) 10,293 21,522
25,396 46,252

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£ £
Net obligations repayable:
Within one year 11,229 11,229
Between one and five years 10,293 21,522
21,522 32,751

Non-cancellable
operating leases
2023 2022
£ £
Within one year 28,840 22,447
Between one and five years 108,150 -
136,990 22,447

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Hire purchase contracts 21,522 32,751