IRIS Accounts Production v24.2.0.383 04929007 director 1.4.23 31.3.24 31.3.24 false true false false true true false Ordinary A 1.00000 Ordinary B 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh049290072023-03-31049290072024-03-31049290072023-04-012024-03-31049290072022-03-31049290072022-04-012023-03-31049290072023-03-3104929007ns15:EnglandWales2023-04-012024-03-3104929007ns14:PoundSterling2023-04-012024-03-3104929007ns10:Director12023-04-012024-03-3104929007ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3104929007ns10:SmallEntities2023-04-012024-03-3104929007ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3104929007ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3104929007ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3104929007ns10:FullAccounts2023-04-012024-03-3104929007ns10:OrdinaryShareClass22023-04-012024-03-3104929007ns10:OrdinaryShareClass32023-04-012024-03-3104929007ns10:RegisteredOffice2023-04-012024-03-3104929007ns5:CurrentFinancialInstruments2024-03-3104929007ns5:CurrentFinancialInstruments2023-03-3104929007ns5:Non-currentFinancialInstruments2024-03-3104929007ns5:Non-currentFinancialInstruments2023-03-3104929007ns5:ShareCapital2024-03-3104929007ns5:ShareCapital2023-03-3104929007ns5:FurtherSpecificReserve1ComponentTotalEquity2024-03-3104929007ns5:FurtherSpecificReserve1ComponentTotalEquity2023-03-3104929007ns5:RetainedEarningsAccumulatedLosses2024-03-3104929007ns5:RetainedEarningsAccumulatedLosses2023-03-310492900712023-04-012024-03-3104929007ns5:LandBuildings2023-04-012024-03-3104929007ns5:PlantMachinery2023-04-012024-03-3104929007ns5:LandBuildings2023-03-3104929007ns5:PlantMachinery2023-03-3104929007ns5:LandBuildings2024-03-3104929007ns5:PlantMachinery2024-03-3104929007ns5:LandBuildings2023-03-3104929007ns5:PlantMachinery2023-03-3104929007ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3104929007ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3104929007ns5:WithinOneYear2024-03-3104929007ns5:WithinOneYear2023-03-3104929007ns5:BetweenOneFiveYears2024-03-3104929007ns5:BetweenOneFiveYears2023-03-3104929007ns5:AllPeriods2024-03-3104929007ns5:AllPeriods2023-03-3104929007ns5:DeferredTaxation2023-03-3104929007ns5:DeferredTaxation2023-04-012024-03-3104929007ns5:DeferredTaxation2024-03-3104929007ns10:OrdinaryShareClass22024-03-3104929007ns10:OrdinaryShareClass32024-03-3104929007ns10:Director22023-04-012024-03-3104929007ns10:Director222023-03-3104929007ns10:Director222022-03-3104929007ns10:Director222023-04-012024-03-3104929007ns10:Director222022-04-012023-03-3104929007ns10:Director222024-03-3104929007ns10:Director222023-03-31
REGISTERED NUMBER: 04929007 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

REED FORWARDING LIMITED

REED FORWARDING LIMITED (REGISTERED NUMBER: 04929007)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


REED FORWARDING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: E C Ferreira





REGISTERED OFFICE: Systems House
Chapel Pond Hill
Bury St Edmunds
Suffolk
IP32 7HT





REGISTERED NUMBER: 04929007 (England and Wales)





ACCOUNTANTS: Thompson Taraz Rand Ltd
Chartered Accountants
10 Jesus Lane
Cambridge
Cambridgeshire
CB5 8BA

REED FORWARDING LIMITED (REGISTERED NUMBER: 04929007)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 73,131 67,167

CURRENT ASSETS
Stocks - 1,347
Debtors 6 420,221 351,128
Cash at bank 26,988 129,426
447,209 481,901
CREDITORS
Amounts falling due within one year 7 (207,986 ) (172,858 )
NET CURRENT ASSETS 239,223 309,043
TOTAL ASSETS LESS CURRENT LIABILITIES 312,354 376,210

CREDITORS
Amounts falling due after more than one
year

8

(274,476

)

(21,667

)

PROVISIONS FOR LIABILITIES 10 (5,312 ) (6,134 )
NET ASSETS 32,566 348,409

CAPITAL AND RESERVES
Called up share capital 11 100 100
Other reserves - 407,538
Retained earnings 32,466 (59,229 )
SHAREHOLDERS' FUNDS 32,566 348,409

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

REED FORWARDING LIMITED (REGISTERED NUMBER: 04929007)

BALANCE SHEET - continued
31 MARCH 2024


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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 August 2024 and were signed by:





E C Ferreira - Director


REED FORWARDING LIMITED (REGISTERED NUMBER: 04929007)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Reed Forwarding 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
Useful economic lives of tangible fixed assets:
Tangible fixed assets are depreciated over their expected useful lives taking into consideration residual values, where appropriate. The actual lives of the assets and residual values are assessed and amended when necessary to reflect the current estimates based on economic utilization and physical condition of the assets.

Doubtful debts:
The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade debtors , management considers factors including the current credit rating of the debtor, the ageing of the debtor and historical experience regarding payment history.

Turnover
Turnover is derived from the provision of Freight Services during the year under review, together with the provision of warehousing 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

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, 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.


REED FORWARDING LIMITED (REGISTERED NUMBER: 04929007)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 material 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.

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.

Lease commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 7 ) .

REED FORWARDING LIMITED (REGISTERED NUMBER: 04929007)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 43,305 291,807 335,112
Additions - 26,464 26,464
Disposals - (3,502 ) (3,502 )
At 31 March 2024 43,305 314,769 358,074
DEPRECIATION
At 1 April 2023 11,019 256,926 267,945
Charge for year 4,331 15,061 19,392
Eliminated on disposal - (2,394 ) (2,394 )
At 31 March 2024 15,350 269,593 284,943
NET BOOK VALUE
At 31 March 2024 27,955 45,176 73,131
At 31 March 2023 32,286 34,881 67,167

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 135,897 219,141
Amounts owed by group undertakings 250,000 -
Other debtors 34,324 131,987
420,221 351,128

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 103,221 94,893
Taxation and social security 81,079 62,006
Other creditors 23,686 15,959
207,986 172,858

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 274,476 21,667

REED FORWARDING LIMITED (REGISTERED NUMBER: 04929007)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 99,360 99,360
Between one and five years 464,820 474,180
564,180 573,540

The amount payable under non cancellable operating leases at the balance sheet date is £564,180 (2022:£573,540). This represents an annual commitment of £90,000 over a 7 year term in relation to the rental of the company's commercial premises and £9,360 per year in relation to the hire of plant and machinery.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 5,312 6,134

Deferred
tax
£   
Balance at 1 April 2023 6,134
Provided during year (822 )
Balance at 31 March 2024 5,312

Deferred tax has been recognised in respect of the excess of capital allowances over depreciation.



11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
51 Ordinary A £1 51 51
49 Ordinary B £1 49 49
100 100

During the year under review the company became a wholly owned subsidiary of E C Newall Holdings Ltd followings its acquisition of the remaining 51% of the company's share capital.

REED FORWARDING LIMITED (REGISTERED NUMBER: 04929007)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
P A O'Meara
Balance outstanding at start of year 100,000 -
Amounts advanced - 100,000
Amounts repaid (100,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 100,000

13. RELATED PARTY DISCLOSURES

During the year under review, £nil (2023:£100,000) was advanced to a Director (2023: £100,000). The balance due to company at the balance sheet date is £nil (2023: £100,000l) and is disclosed within other debtors due in less than one year.

During the year under review the company issued loan notes of £433,619 (2023: nil) to EC Newall Holdings Ltd to facilitate it acquiring the remaining 51% of the company's issued share capital, The balance due fro EC Newall at the balance sheet date is £350,000 (2023: nil) and is interest free and disclosed within amounts due from group undertakings within debtors.

14. OTHER RESERVES

Other reserves represent retained earnings attributable to Mr P O'Meara, a 51% shareholder, at the balance sheet date following the sale of a 49% interest to EC Newall Holdings Ltd.