Company registration number 03244314 (England and Wales)
ACP FREIGHT SERVICES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
Hampshire
PO6 3TH
ACP FREIGHT SERVICES LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2
Notes to the financial statements
3 - 8
ACP FREIGHT SERVICES LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr. A. Tremorin
Mr. J. D. M. Tremorin
Mr J. A. Tremorin
Mrs. L Tremorin
Ms SW Webber
(Appointed 1 June 2024)
Company number
03244314
Registered office
373-375 Old Commercial Road
Portsmouth
Hampshire
United Kingdom
PO1 4QG
Auditor
TC Group
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
Hampshire
PO6 3TH
ACP FREIGHT SERVICES LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
14,886
29,630
Current assets
Debtors
4
1,871,265
1,959,154
Cash at bank and in hand
1,745,278
1,492,970
3,616,543
3,452,124
Creditors: amounts falling due within one year
5
(1,793,473)
(1,794,957)
Net current assets
1,823,070
1,657,167
Total assets less current liabilities
1,837,956
1,686,797
Capital and reserves
Called up share capital
6,672
6,672
Capital redemption reserve
3,335
3,335
Profit and loss reserves
1,827,949
1,676,790
Total equity
1,837,956
1,686,797

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 2 December 2024 and are signed on its behalf by:
Mr. A. Tremorin
Director
Company Registration No. 03244314
ACP FREIGHT SERVICES LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

ACP Freight Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 373-375 Old Commercial Road, Portsmouth, Hampshire, United Kingdom, PO1 4QG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

The turnover shown in the profit and loss account represents amounts receivable during the year for services provided, exclusive of Value Added Tax.

 

Turnover is recognised on completion of the deliver service and is measured at the fair value of the consideration receivable.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold property improvements
over the term of the lease
Office equipment
ranging between 33% and 25% reducing balance
Motor vehicles
25% straight line

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.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

ACP FREIGHT SERVICES LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

ACP FREIGHT SERVICES LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

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

balance sheet date where transactions or events have occurred at that date that will result in an

obligation to pay more, or a right to pay less or to receive more tax.

 

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the

periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted

at the balance sheet date.

 

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

The company operates a defined contribution pension scheme for employees. The assets of the scheme

are held separately from those of the company. The annual contributions payable are charged to the

profit and loss account.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received are charged against income on a straight line basis over the lease term.

1.12
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.13
Foreign exchange

Transactions in foreign currencies are translated at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the balance sheet date. Exchange differences arising on the settlement of monetary items and on the retranslation of monetary items are taken to the profit and loss account.

ACP FREIGHT SERVICES LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
32
34
3
Tangible fixed assets
Leasehold property improvements
Office equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 October 2023
127,100
437,740
23,276
588,116
Additions
-
0
1,245
-
0
1,245
At 30 September 2024
127,100
438,985
23,276
589,361
Depreciation and impairment
At 1 October 2023
127,100
411,504
19,882
558,486
Depreciation charged in the year
-
0
12,595
3,394
15,989
At 30 September 2024
127,100
424,099
23,276
574,475
Carrying amount
At 30 September 2024
-
0
14,886
-
0
14,886
At 30 September 2023
-
0
26,236
3,394
29,630
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,656,839
1,681,519
Other debtors
129,237
150,315
VAT recoverable
14,537
23,463
Prepayments and accrued income
63,117
123,803
1,863,730
1,979,100
ACP FREIGHT SERVICES LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
4
Debtors
(Continued)
- 7 -
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset (note )
7,535
3,517
Total debtors
1,871,265
1,982,617
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,361,550
1,278,856
Amounts due to group undertakings
71,442
73,499
Corporation tax
57,375
73,029
Other taxation and social security
20,105
18,935
Other creditors
6,510
9,920
Accruals and deferred income
276,491
340,718
1,793,473
1,794,957
6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report was unqualified.

Senior Statutory Auditor:
James Blake FCA
Statutory Auditor:
TC Group
Date of audit report:
2 December 2024
7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
27,463
36,724
ACP FREIGHT SERVICES LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 8 -
8
Related party transactions

In accordance with FRS 102 Section 33.1A the company has taken exemption from disclosing transactions with wholly owned group undertakings.

 

The Directors have considered the requirements of FRS 102 Section 1AC.35 and have concluded that there are no transactions with related parties which have not been undertaken under normal market conditions.

 

2024-09-302023-10-01false02 December 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityThis audit opinion is unqualifiedMr. A. TremorinMr. J. D. M. TremorinMr J. A. TremorinMrs. L TremorinMs SW Webberfalsefalse032443142023-10-012024-09-3003244314bus:Director12023-10-012024-09-3003244314bus:Director22023-10-012024-09-3003244314bus:Director32023-10-012024-09-3003244314bus:Director42023-10-012024-09-3003244314bus:Director52023-10-012024-09-3003244314bus:RegisteredOffice2023-10-012024-09-30032443142024-09-30032443142023-09-3003244314core:LandBuildingscore:LeasedAssetsHeldAsLessee2024-09-3003244314core:FurnitureFittings2024-09-3003244314core:MotorVehicles2024-09-3003244314core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-09-3003244314core:FurnitureFittings2023-09-3003244314core:MotorVehicles2023-09-3003244314core:CurrentFinancialInstruments2024-09-3003244314core:CurrentFinancialInstruments2023-09-3003244314core:ShareCapital2024-09-3003244314core:ShareCapital2023-09-3003244314core:CapitalRedemptionReserve2024-09-3003244314core:CapitalRedemptionReserve2023-09-3003244314core:RetainedEarningsAccumulatedLosses2024-09-3003244314core:RetainedEarningsAccumulatedLosses2023-09-3003244314core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-10-012024-09-3003244314core:FurnitureFittings2023-10-012024-09-3003244314core:MotorVehicles2023-10-012024-09-30032443142022-10-012023-09-3003244314core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-09-3003244314core:FurnitureFittings2023-09-3003244314core:MotorVehicles2023-09-30032443142023-09-3003244314core:Non-currentFinancialInstruments2024-09-3003244314core:Non-currentFinancialInstruments2023-09-3003244314bus:PrivateLimitedCompanyLtd2023-10-012024-09-3003244314bus:SmallCompaniesRegimeForAccounts2023-10-012024-09-3003244314bus:FRS1022023-10-012024-09-3003244314bus:Audited2023-10-012024-09-3003244314bus:FullAccounts2023-10-012024-09-30xbrli:purexbrli:sharesiso4217:GBP