AFD Transport Limited
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Company registration number 04953584
Date
Approval date of the accounts by the board 05/09/2024
Date
Date of signing on the audit/accountants report 05/09/2024
Date of engagement letter (required for Date
CA and ACCA reports)
Person signing directors' report:
Name of director A F Durnford
Or, name of secretary
Name of director signing balance sheet A F Durnford
Address of registered office:
Address line 1
Address line 2
City or town
County or region
Postcode
Name of senior statutory auditor
Name of auditors/accountants Peter Wilson Accountancy Limited
Type of firm (eg Chartered Accountants) Chartered Certified Accountants
Address of auditors/accountants
Address line 1 16 Jevington Drive
Address line 2
City or town Seaford
County or region East Sussex
Postcode BN25 2NT
Prior year adjustments (+ for a gain; - for a loss) £
Correction of prior year errors
Effect of retrospective changes in accounting policies
More info on prior year adjustments
Number Number
Average number of persons employed by the company 2 2
Freehold land & buildings if
revalued amounts shown in trial balance: £ £
historical cost
cumulative depreciation based on cost
Historical cost of fixed asset investments £ £
Investments in subsidiaries
Other investments
£ £
Amounts due after more than one year included in debtors
Amounts included in creditors falling due for payment
after more than five years: £ £
Payable otherwise than by installment
Payable by installment
£ £
Secured bank loans included in creditors
Capital commitments: £ £
contracted
Total future payments due under non-cancellable £ £
operating leases
Registered number
04953584
AFD Transport Limited
Filleted Accounts
31 December 2023
AFD Transport Limited
Registered number: 04953584
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 10,619 12,950
Current assets
Debtors 4 850 1,408
Cash at bank and in hand 43,904 41,086
44,754 42,494
Creditors: amounts falling due within one year 5 (11,514) (11,879)
Net current assets 33,240 30,615
Total assets less current liabilities 43,859 43,565
Creditors: amounts falling due after more than one year 6 (12,077) (19,327)
Net assets 31,782 24,238
Capital and reserves
Called up share capital 1 1
Profit and loss account 31,781 24,237
Shareholder's funds 31,782 24,238
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A F Durnford
Director
Approved by the board on 5 September 2024
AFD Transport Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 54,055
At 31 December 2023 54,055
Depreciation
At 1 January 2023 41,105
Charge for the year 2,331
At 31 December 2023 43,436
Net book value
At 31 December 2023 10,619
At 31 December 2022 12,950
4 Debtors 2023 2022
£ £
Trade debtors 850 1,408
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 7,256 7,256
Corporation tax 3,601 4,132
Other taxes and social security costs 657 155
Other creditors - 336
11,514 11,879
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 12,077 19,327
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