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REGISTERED NUMBER: 06074725 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

AFS GLOBAL LTD

AFS GLOBAL LTD (REGISTERED NUMBER: 06074725)

Contents of the Financial Statements
for the Year Ended 31 January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AFS GLOBAL LTD

Company Information
for the Year Ended 31 January 2024







Directors: A R Harrison
V Higgins
S B Holland
C Higgins





Secretary: A R Harrison





Registered office: 3rd Floor Northern Assurance Buildings
Albert Square
9-21 Princess Street
Manchester
M2 4DN





Registered number: 06074725 (England and Wales)





Accountants: Evelyn Partners (Manchester) Limited
Accountants
Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN

AFS GLOBAL LTD (REGISTERED NUMBER: 06074725)

Balance Sheet
31 January 2024

2024 2023
as restated
Notes £    £    £    £   
Fixed assets
Tangible assets 5 20,681 24,674
Investments 6 46,126 46,126
66,807 70,800

Current assets
Stocks 546,345 173,335
Debtors 7 1,313,075 1,603,795
Cash at bank and in hand 430,844 906,594
2,290,264 2,683,724
Creditors
Amounts falling due within one year 8 2,067,179 1,738,251
Net current assets 223,085 945,473
Total assets less current liabilities 289,892 1,016,273

Provisions for liabilities 5,170 6,169
Net assets 284,722 1,010,104

Capital and reserves
Called up share capital 10 2,017 2,017
Capital redemption reserve 49 49
Retained earnings 282,656 1,008,038
Shareholders' funds 284,722 1,010,104

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

AFS GLOBAL LTD (REGISTERED NUMBER: 06074725)

Balance Sheet - continued
31 January 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 Board of Directors and authorised for issue on 28 October 2024 and were signed on its behalf by:




A R Harrison - Director



S B Holland - Director


AFS GLOBAL LTD (REGISTERED NUMBER: 06074725)

Notes to the Financial Statements
for the Year Ended 31 January 2024


1. Statutory information

AFS Global 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. Statement of compliance

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
The company acts an agent for the arrangement of freight forwarding services for third parties. Its turnover represents commissions and fees receivable net of discounts and VAT, and is recognised upon completion of each shipment.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 10% straight line
Computer equipment - 33% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Work in progress
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

AFS GLOBAL LTD (REGISTERED NUMBER: 06074725)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


3. Accounting policies - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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 administrative expenses

4. Employees and directors

The average number of employees during the year was 15 (2023 - 17 ) .

5. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
At 1 February 2023 24,088 70,008 94,096
Additions - 1,733 1,733
At 31 January 2024 24,088 71,741 95,829
Depreciation
At 1 February 2023 5,621 63,801 69,422
Charge for year 1,855 3,871 5,726
At 31 January 2024 7,476 67,672 75,148
Net book value
At 31 January 2024 16,612 4,069 20,681
At 31 January 2023 18,467 6,207 24,674

AFS GLOBAL LTD (REGISTERED NUMBER: 06074725)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


6. Fixed asset investments
Shares in
group
undertakings
£   
Cost
At 1 February 2023
and 31 January 2024 46,126
Net book value
At 31 January 2024 46,126
At 31 January 2023 46,126

7. Debtors: amounts falling due within one year
2024 2023
as restated
£    £   
Trade debtors 1,260,603 1,554,154
Other debtors 52,472 49,641
1,313,075 1,603,795

8. Creditors: amounts falling due within one year
2024 2023
as restated
£    £   
Bank loans and overdrafts 803,518 23,821
Trade creditors 630,216 648,692
Taxation and social security 242,173 583,786
Other creditors 391,272 481,952
2,067,179 1,738,251

9. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
as restated
£    £   
Within one year 18,557 62,958
Between one and five years 4,792 23,348
23,349 86,306

AFS GLOBAL LTD (REGISTERED NUMBER: 06074725)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: as
restated
£    £   
833 Ordinary £1 833 833
106,624 A redeemable ordinary 1p 1,066 1,066
11,849 B redeemable ordinary 1p 118 118
2,017 2,017

11. Related party disclosures

Other related parties

2024 2023
£ £
Amounts due (to)/from related parties (16,681 ) (11,033 )

The above loans are interest free and repayable on demand.