REGISTERED NUMBER: |
MTW FREIGHT FORWARDING LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 2 FEBRUARY 2023 TO 28 FEBRUARY 2024 |
REGISTERED NUMBER: |
MTW FREIGHT FORWARDING LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 2 FEBRUARY 2023 TO 28 FEBRUARY 2024 |
MTW FREIGHT FORWARDING LTD (REGISTERED NUMBER: 14634403) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 2 FEBRUARY 2023 TO 28 FEBRUARY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
MTW FREIGHT FORWARDING LTD |
COMPANY INFORMATION |
FOR THE PERIOD 2 FEBRUARY 2023 TO 28 FEBRUARY 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
MTW FREIGHT FORWARDING LTD (REGISTERED NUMBER: 14634403) |
BALANCE SHEET |
28 FEBRUARY 2024 |
Notes | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
MTW FREIGHT FORWARDING LTD (REGISTERED NUMBER: 14634403) |
BALANCE SHEET - continued |
28 FEBRUARY 2024 |
The financial statements were approved by the director and authorised for issue on |
MTW FREIGHT FORWARDING LTD (REGISTERED NUMBER: 14634403) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 2 FEBRUARY 2023 TO 28 FEBRUARY 2024 |
1. | STATUTORY INFORMATION |
MTW Freight Forwarding Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
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. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policy adopted for the recognition of turnover is as follows: |
Rendering of services |
When the outcome of a transaction can be estimated reliably, turnover from courier and freight services is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the date the service was provided. |
Interest receivable |
Interest income is recognised using the effective interest method. |
Tangible fixed assets |
Motor vehicles | - |
Computer equipment | - |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
MTW FREIGHT FORWARDING LTD (REGISTERED NUMBER: 14634403) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2 FEBRUARY 2023 TO 28 FEBRUARY 2024 |
2. | ACCOUNTING POLICIES - continued |
Tax |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. |
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
Additions |
At 28 February 2024 |
DEPRECIATION |
Charge for period |
At 28 February 2024 |
NET BOOK VALUE |
At 28 February 2024 |
MTW FREIGHT FORWARDING LTD (REGISTERED NUMBER: 14634403) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2 FEBRUARY 2023 TO 28 FEBRUARY 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
Additions |
At 28 February 2024 |
DEPRECIATION |
Charge for period |
At 28 February 2024 |
NET BOOK VALUE |
At 28 February 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Other debtors |
Directors' loan accounts |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Hire purchase contracts |
Trade creditors |
Tax |
VAT |
Accruals and deferred income |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Hire purchase contracts |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | £1 | 1 |
MTW FREIGHT FORWARDING LTD (REGISTERED NUMBER: 14634403) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2 FEBRUARY 2023 TO 28 FEBRUARY 2024 |
8. | CALLED UP SHARE CAPITAL - continued |
1 Ordinary share of £1 was issued during the period |
9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the period ended 28 February 2024: |
£ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - |
Amounts waived | - |
Balance outstanding at end of period |
The directors loans have been provided at the beneficial loan rate of interest of 2.21%. These loans are repayable on demand. |
10. | RELATED PARTY DISCLOSURES |
Included in the balance sheet is a balance owed from another company where the Director is the controlling shareholder of this company. The loan is repayable on demand and no interest is charged on the balance. The balance owed as at 28 February 2024 is £19,000. |