Company Registration No. 08851955 (England and Wales)
Active Freight Worldwide Ltd
Unaudited accounts
for the year ended 31 January 2024
Active Freight Worldwide Ltd
Unaudited accounts
Contents
Active Freight Worldwide Ltd
Company Information
for the year ended 31 January 2024
Company Number
08851955 (England and Wales)
Registered Office
Oslands Court
Oslands Lane
Swanick
Hampshire
SO31 7EG
Accountants
Babcock Tax & Accountancy Services Ltd
The Florins, 8 Lulworth Close
Hayling Island
Hampshire
PO11 0NY
Active Freight Worldwide Ltd
Statement of financial position
as at 31 January 2024
Tangible assets
7,319
8,949
Inventories
284,509
129,647
Cash at bank and in hand
4,745
153,728
Creditors: amounts falling due within one year
(1,177,939)
(612,080)
Net current (liabilities)/assets
(199,734)
466,002
Total assets less current liabilities
(192,415)
474,951
Creditors: amounts falling due after more than one year
(253,964)
(322,744)
Provisions for liabilities
Deferred tax
(1,700)
(1,700)
Net (liabilities)/assets
(448,079)
150,507
Called up share capital
100
100
Profit and loss account
(448,179)
150,407
Shareholders' funds
(448,079)
150,507
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 October 2024 and were signed on its behalf by
Mr J W Wheeler
Director
Company Registration No. 08851955
Active Freight Worldwide Ltd
Notes to the Accounts
for the year ended 31 January 2024
Active Freight Worldwide Ltd is a private company, limited by shares, registered in England and Wales, registration number 08851955. The registered office is Oslands Court, Oslands Lane, Swanick, Hampshire, SO31 7EG.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings: 33% on cost
Motor vehicles: 33% on cost
computer equipment: 33% on cost
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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 accounts. 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.
Active Freight Worldwide Ltd
Notes to the Accounts
for the year ended 31 January 2024
Hire purchase and leasing committments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Additional note from the director
During the financial year we have opened our new London Heathrow branch in July 2023. These costs were an investment of expansion for the business incurring increases in costs including staffing, setup and additional premises. We deem this as a very positive investment which is already showing a profit return, which will reflect favourably in our next filing of accounts.
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Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 February 2023
8,500
3,376
16,913
28,789
Additions
-
136
4,713
4,849
At 31 January 2024
8,500
3,512
21,626
33,638
At 1 February 2023
2,805
3,374
13,661
19,840
Charge for the year
2,805
45
3,629
6,479
At 31 January 2024
5,610
3,419
17,290
26,319
At 31 January 2024
2,890
93
4,336
7,319
At 31 January 2023
5,695
2
3,252
8,949
Active Freight Worldwide Ltd
Notes to the Accounts
for the year ended 31 January 2024
Amounts falling due within one year
Trade debtors
308,495
279,143
Amounts due from group undertakings etc.
316,481
473,434
Accrued income and prepayments
16,645
3,089
Other debtors
29,696
9,188
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
305,695
162,429
Trade creditors
643,523
315,522
Taxes and social security
194,711
125,737
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Creditors: amounts falling due after more than one year
2024
2023
Bank loans
253,964
322,744
Barclays Bank PLC hold a fixed and floating charge dated 16 September 2016.
The ultimate controlling party is Mr J W Wheeler
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Average number of employees
During the year the average number of employees was 17 (2023: 14).