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Company No: 06790157 (England and Wales)

CHARTERLINK WORLDWIDE FREIGHT & LOGISTICS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

CHARTERLINK WORLDWIDE FREIGHT & LOGISTICS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

CHARTERLINK WORLDWIDE FREIGHT & LOGISTICS LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
CHARTERLINK WORLDWIDE FREIGHT & LOGISTICS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS Glen Lee Cooke
Martin John Ellingham
Katalin Zsoldos
REGISTERED OFFICE Unit 14 The Drift
Nacton Road
Ipswich
IP3 9QR
United Kingdom
COMPANY NUMBER 06790157 (England and Wales)
CHARTERED ACCOUNTANTS Gascoynes
Gascoyne House
Moseleys Farm Business Centre
Fornham All Saints
Bury St Edmunds
Suffolk
IP28 6JY
CHARTERLINK WORLDWIDE FREIGHT & LOGISTICS LIMITED

BALANCE SHEET

As at 31 March 2024
CHARTERLINK WORLDWIDE FREIGHT & LOGISTICS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 12,400 13,778
Tangible assets 4 476,298 322,281
488,698 336,059
Current assets
Debtors 5 777,292 732,513
Cash at bank and in hand 500,653 372,632
1,277,945 1,105,145
Creditors: amounts falling due within one year 6 ( 676,369) ( 525,629)
Net current assets 601,576 579,516
Total assets less current liabilities 1,090,274 915,575
Creditors: amounts falling due after more than one year 7 ( 282,553) ( 171,982)
Net assets 807,721 743,593
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 807,621 743,493
Total shareholders' funds 807,721 743,593

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Charterlink Worldwide Freight & Logistics Limited (registered number: 06790157) were approved and authorised for issue by the Board of Directors on 01 October 2024. They were signed on its behalf by:

Glen Lee Cooke
Director
Martin John Ellingham
Director
CHARTERLINK WORLDWIDE FREIGHT & LOGISTICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
CHARTERLINK WORLDWIDE FREIGHT & LOGISTICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Charterlink Worldwide Freight & Logistics Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 14 The Drift, Nacton Road, Ipswich, IP3 9QR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 % reducing balance
Other intangible assets 10 % reducing balance
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 15 % reducing balance
Plant and machinery 25 % reducing balance
Vehicles 20 % reducing balance
Fixtures and fittings 15 % reducing balance
Computer equipment 30 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 18 17

3. Intangible assets

Goodwill Other intangible assets Total
£ £ £
Cost
At 01 April 2023 3,000 16,700 19,700
At 31 March 2024 3,000 16,700 19,700
Accumulated amortisation
At 01 April 2023 3,000 2,922 5,922
Charge for the financial year 0 1,378 1,378
At 31 March 2024 3,000 4,300 7,300
Net book value
At 31 March 2024 0 12,400 12,400
At 31 March 2023 0 13,778 13,778

4. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £ £
Cost
At 01 April 2023 37,650 162,290 216,006 383 10,546 426,875
Additions 0 0 245,149 232 2,480 247,861
At 31 March 2024 37,650 162,290 461,155 615 13,026 674,736
Accumulated depreciation
At 01 April 2023 8,985 91,082 0 102 4,425 104,594
Charge for the financial year 4,300 17,802 69,532 45 2,165 93,844
At 31 March 2024 13,285 108,884 69,532 147 6,590 198,438
Net book value
At 31 March 2024 24,365 53,406 391,623 468 6,436 476,298
At 31 March 2023 28,665 71,208 216,006 281 6,121 322,281

5. Debtors

2024 2023
£ £
Trade debtors 572,591 625,355
Amounts owed by Group undertakings 176,813 70,000
Corporation tax 0 3,974
Other debtors 27,888 33,184
777,292 732,513

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 337,377 281,666
Taxation and social security 47,973 47,422
Obligations under finance leases and hire purchase contracts 73,589 30,135
Other creditors 217,430 166,406
676,369 525,629

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 282,553 171,982

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100