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REGISTERED NUMBER: 06865621 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 April 2024

for

A B Freight Ltd

A B Freight Ltd (Registered number: 06865621)






Contents of the Financial Statements
for the year ended 30 April 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


A B Freight Ltd

Company Information
for the year ended 30 April 2024







DIRECTOR: A Brayshaw





REGISTERED OFFICE: 22 - 28 Willow Street
Accrington
Lancashire
BB5 1LP





REGISTERED NUMBER: 06865621 (England and Wales)





ACCOUNTANTS: Mayes Business Partnership Ltd
Chartered Certified Accountants
22-28 Willow Street
Accrington
Lancashire
BB5 1LP

A B Freight Ltd (Registered number: 06865621)

Abridged Balance Sheet
30 April 2024

30/4/24 30/4/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,451 9,465

CURRENT ASSETS
Debtors 9,215 9,995
Cash at bank and in hand 1,084 2,700
10,299 12,695
CREDITORS
Amounts falling due within one year 11,651 13,776
NET CURRENT LIABILITIES (1,352 ) (1,081 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,099

8,384

CREDITORS
Amounts falling due after more than one
year

(7,449

)

(6,162

)

PROVISIONS FOR LIABILITIES (2,176 ) (1,798 )
NET ASSETS 474 424

CAPITAL AND RESERVES
Called up share capital 6 1 1
Retained earnings 473 423
SHAREHOLDERS' FUNDS 474 424

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

A B Freight Ltd (Registered number: 06865621)

Abridged Balance Sheet - continued
30 April 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 July 2024 and were signed by:





A Brayshaw - Director


A B Freight Ltd (Registered number: 06865621)

Notes to the Financial Statements
for the year ended 30 April 2024

1. STATUTORY INFORMATION

A B Freight Ltd 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.

The financial statements have been prepared on a going concern basis. The company has net current liabilities in the current and previous financial year. The directors are of the opinion that the financial performance of the company will improve. No adjustments have been made that may have been found necessary if any other basis of preparation had been used.

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

The company sells haulage services to other businesses. Revenue is recognised in the accounting period in which the services are rendered when the outcome of contract can be estimated reliably. The company issues a sales invoice to the customer which is then paid via bank transfer.

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.
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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.


A B Freight Ltd (Registered number: 06865621)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

2. 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023 17,990
Additions 5,995
Disposals (450 )
At 30 April 2024 23,535
DEPRECIATION
At 1 May 2023 8,525
Charge for year 3,819
Eliminated on disposal (260 )
At 30 April 2024 12,084
NET BOOK VALUE
At 30 April 2024 11,451
At 30 April 2023 9,465

A B Freight Ltd (Registered number: 06865621)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 May 2023 14,500
Additions 5,995
At 30 April 2024 20,495
DEPRECIATION
At 1 May 2023 6,344
Charge for year 3,538
At 30 April 2024 9,882
NET BOOK VALUE
At 30 April 2024 10,613
At 30 April 2023 8,156

5. SECURED DEBTS

The following secured debts are included within creditors:

30/4/24 30/4/23
£    £   
Hire purchase contracts 11,971 9,468

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/4/24 30/4/23
value: £    £   
1 Ordinary £1 1 1

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

30/4/24 30/4/23
£    £   
A Brayshaw
Balance outstanding at start of year 8,931 1,783
Amounts advanced 38,109 45,557
Amounts repaid (38,701 ) (38,409 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,339 8,931