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REGISTERED NUMBER: 00999098 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

R. W. FREIGHT SERVICES LIMITED

R. W. FREIGHT SERVICES LIMITED (REGISTERED NUMBER: 00999098)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


R. W. FREIGHT SERVICES LIMITED

Company Information
for the year ended 31 December 2023







Directors: P J Willis
Mrs K J Willis
S P Willis





Secretary: S P Willis





Registered office: 7 Bernard Road
Romford
Essex
RM7 0JD





Registered number: 00999098 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

R. W. FREIGHT SERVICES LIMITED (REGISTERED NUMBER: 00999098)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 11,208 22,526
Investments 5 30,000 30,000
Investment property 6 85,000 85,000
126,208 137,526

Current assets
Debtors 7 330,122 581,114
Cash at bank 2,104,375 1,963,097
2,434,497 2,544,211
Creditors
Amounts falling due within one year 8 805,667 1,016,022
Net current assets 1,628,830 1,528,189
Total assets less current liabilities 1,755,038 1,665,715

Provisions for liabilities 9 - 1,800
Net assets 1,755,038 1,663,915

Capital and reserves
Called up share capital 10 10,000 10,000
Retained earnings 11 1,745,038 1,653,915
Shareholders' funds 1,755,038 1,663,915

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.

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 and authorised for issue by the Board of Directors and authorised for issue on 30 May 2024 and were signed on its behalf by:




S P Willis - Director


R. W. FREIGHT SERVICES LIMITED (REGISTERED NUMBER: 00999098)

Notes to the Financial Statements
for the year ended 31 December 2023


1. Statutory information

R. W. Freight Services 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. 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 as modified by the revaluation of certain assets.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes in respect of services rendered during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Straight line over the lease period
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

R. W. FREIGHT SERVICES LIMITED (REGISTERED NUMBER: 00999098)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

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 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.

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 11 (2022 - 12 ) .

R. W. FREIGHT SERVICES LIMITED (REGISTERED NUMBER: 00999098)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


4. Tangible fixed assets
Short Computer
leasehold equipment Totals
£    £    £   
Cost
At 1 January 2023 78,636 93,870 172,506
Disposals - (93,870 ) (93,870 )
At 31 December 2023 78,636 - 78,636
Depreciation
At 1 January 2023 65,674 84,306 149,980
Charge for year 1,754 9,564 11,318
Eliminated on disposal - (93,870 ) (93,870 )
At 31 December 2023 67,428 - 67,428
Net book value
At 31 December 2023 11,208 - 11,208
At 31 December 2022 12,962 9,564 22,526

5. Fixed asset investments
Other
investments
£   
Cost
At 1 January 2023
and 31 December 2023 30,000
Net book value
At 31 December 2023 30,000
At 31 December 2022 30,000

6. Investment property
Total
£   
Fair value
At 1 January 2023
and 31 December 2023 85,000
Net book value
At 31 December 2023 85,000
At 31 December 2022 85,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2023 85,000

R. W. FREIGHT SERVICES LIMITED (REGISTERED NUMBER: 00999098)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


6. Investment property - continued

If the investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 85,000 85,000

Investment property was valued on an open market basis on 31 December 2023 by the directors .

7. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 284,469 475,241
Other debtors 45,653 105,873
330,122 581,114

8. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 256,624 435,169
Taxation and social security 59,937 60,934
Other creditors 489,106 519,919
805,667 1,016,022

9. Provisions for liabilities
2023 2022
£    £   
Deferred tax - 1,800

Deferred
tax
£   
Balance at 1 January 2023 1,800
Provided during year (1,800 )
Balance at 31 December 2023 -

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
300 A Ordinary £1 300 300
9,700 B Ordinary £1 9,700 9,700
10,000 10,000

R. W. FREIGHT SERVICES LIMITED (REGISTERED NUMBER: 00999098)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


11. Reserves
Retained
earnings
£   

At 1 January 2023 1,653,915
Profit for the year 183,273
Dividends (92,150 )
At 31 December 2023 1,745,038

12. Ultimate controlling party

The controlling party is S P Willis.