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REGISTERED NUMBER: 14634403 (England and Wales)















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: M A Whitehead





REGISTERED OFFICE: 20-22 Wenlock Road
London
N1 7GU





REGISTERED NUMBER: 14634403 (England and Wales)

MTW FREIGHT FORWARDING LTD (REGISTERED NUMBER: 14634403)

BALANCE SHEET
28 FEBRUARY 2024

Notes £   
FIXED ASSETS
Tangible assets 4 29,611

CURRENT ASSETS
Debtors 5 83,953
Cash at bank 7,510
91,463
CREDITORS
Amounts falling due within one year 6 (105,088 )
NET CURRENT LIABILITIES (13,625 )
TOTAL ASSETS LESS CURRENT LIABILITIES 15,986

CREDITORS
Amounts falling due after more than one
year

7

(9,067

)

PROVISIONS FOR LIABILITIES (6,046 )
NET ASSETS 873

CAPITAL AND RESERVES
Called up share capital 8 1
Retained earnings 872
SHAREHOLDERS' FUNDS 873

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2024 in accordance with Section 476 of the Companies Act 2006.

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 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 by the director and authorised for issue on 3 October 2024 and were signed by:





M A Whitehead - Director


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 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

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 1 .

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
Additions 39,295 175 39,470
At 28 February 2024 39,295 175 39,470
DEPRECIATION
Charge for period 9,824 35 9,859
At 28 February 2024 9,824 35 9,859
NET BOOK VALUE
At 28 February 2024 29,471 140 29,611

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 14,695
At 28 February 2024 14,695
DEPRECIATION
Charge for period 3,674
At 28 February 2024 3,674
NET BOOK VALUE
At 28 February 2024 11,021

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 56,030
Other debtors 19,000
Directors' loan accounts 7,211
Prepayments 1,712
83,953

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Hire purchase contracts 4,659
Trade creditors 81,467
Tax 6,561
VAT 1,041
Accruals and deferred income 11,360
105,088

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
£   
Hire purchase contracts 9,067

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
1 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 for cash of £ 1 .

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 28 February 2024:

£   
M A Whitehead
Balance outstanding at start of period -
Amounts advanced 67,786
Amounts repaid (60,575 )
Amounts written off -
Amounts waived -
Balance outstanding at end of period 7,211

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.