Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity1617truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03585539 2023-01-01 2023-12-31 03585539 2022-01-01 2022-12-31 03585539 2023-12-31 03585539 2022-12-31 03585539 c:Director2 2023-01-01 2023-12-31 03585539 c:Director3 2023-01-01 2023-12-31 03585539 c:RegisteredOffice 2023-01-01 2023-12-31 03585539 d:FurnitureFittings 2023-01-01 2023-12-31 03585539 d:FurnitureFittings 2023-12-31 03585539 d:FurnitureFittings 2022-12-31 03585539 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03585539 d:ComputerEquipment 2023-01-01 2023-12-31 03585539 d:ComputerEquipment 2023-12-31 03585539 d:ComputerEquipment 2022-12-31 03585539 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03585539 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03585539 d:CurrentFinancialInstruments 2023-12-31 03585539 d:CurrentFinancialInstruments 2022-12-31 03585539 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03585539 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03585539 d:ShareCapital 2023-12-31 03585539 d:ShareCapital 2022-12-31 03585539 d:RetainedEarningsAccumulatedLosses 2023-12-31 03585539 d:RetainedEarningsAccumulatedLosses 2022-12-31 03585539 c:FRS102 2023-01-01 2023-12-31 03585539 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03585539 c:FullAccounts 2023-01-01 2023-12-31 03585539 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03585539 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 03585539







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


SANDFORD FREIGHT (U.K.) LIMITED






































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SANDFORD FREIGHT (U.K.) LIMITED
 


 
COMPANY INFORMATION


Directors
Mr R E Walker 
Mrs J Walker 




Registered number
03585539



Registered office
Unit 8 - Radius Park
St Theresa's Road

Feltham

Middlesex

TW14 0NG




Accountants
Menzies LLP
Chartered Accountants

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP





 


SANDFORD FREIGHT (U.K.) LIMITED
 



CONTENTS



Page
Statement of Financial Position
1
Notes to the Financial Statements
2 - 6


 


SANDFORD FREIGHT (U.K.) LIMITED
REGISTERED NUMBER:03585539



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
16,692
13,702

  
16,692
13,702

Current assets
  

Debtors: amounts falling due within one year
 5 
650,902
766,968

Cash at bank and in hand
  
3,029,875
3,306,811

  
3,680,777
4,073,779

Creditors: amounts falling due within one year
 6 
(770,986)
(1,271,899)

Net current assets
  
 
 
2,909,791
 
 
2,801,880

Total assets less current liabilities
  
2,926,483
2,815,582

  

Net assets
  
2,926,483
2,815,582


Capital and reserves
  

Called up share capital 
  
15,000
15,000

Profit and loss account
  
2,911,483
2,800,582

  
2,926,483
2,815,582


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


Mr R E Walker
Director
Date: 11 September 2024

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 


SANDFORD FREIGHT (U.K.) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Sandford Freight (U.K.) Limited is a private company, limited by shares incorporated in England and Wales . The address of the registered office is given in the company information page of these financial statements, which is also the principal place of business.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.3

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.5

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Page 2

 


SANDFORD FREIGHT (U.K.) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20% Straight line
Computer equipment
-
20% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the company's Statement of Financial Position when the company becomes party to the contractual provisions of the instrument.
Page 3

 


SANDFORD FREIGHT (U.K.) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)


Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

  
2.9

Foreign currency translations

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Profit and Loss Account except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Profit and Loss Account within 'other operating income'.


3.


Employees

The average monthly number of employees, including directors, during the year was 16 (2022 - 17).

Page 4

 


SANDFORD FREIGHT (U.K.) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
30,845
47,234
78,079


Additions
-
9,179
9,179



At 31 December 2023

30,845
56,413
87,258



Depreciation


At 1 January 2023
27,329
37,048
64,377


Charge for the year on owned assets
-
6,189
6,189



At 31 December 2023

27,329
43,237
70,566



Net book value



At 31 December 2023
3,516
13,176
16,692



At 31 December 2022
3,516
10,186
13,702


5.


Debtors

2023
2022
£
£


Trade debtors
458,218
661,782

Amounts owed by group undertakings
115,161
10,473

Other debtors
37,646
51,047

Prepayments and accrued income
39,877
43,666

650,902
766,968


Page 5

 


SANDFORD FREIGHT (U.K.) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
598,328
1,061,096

Corporation tax
119,200
145,512

Other taxation and social security
4,980
-

Other creditors
2,275
2,515

Accruals and deferred income
46,203
62,776

770,986
1,271,899



7.


Commitments under operating leases

At 31 December 2023 the company has future minimum lease payments under non-cancellable operating leases as follows:

2023
2022
        £
        £
Not later than 1 year

75,099

73,212
 
Later than 1 year and not later than 5 years

60,463

110,382
 

135,562

183,594
 


8.


Transactions with directors

Included within other debtors are the following advances and credits to the director which subsisted during the years ended 31 December 2023 and 31 December 2022.

2023
2022
£
£
Balance outstanding at start of year

4,563

-
 
Amounts advanced

800

4,563
 
Amounts repaid

(4,563)

-
 
Balance outstanding at end of year
800

4,563
 

Interest is not being charged on this loan. The loan is repayable on demand.

 
Page 6