Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31013false2023-04-01No description of principal activity13truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03292664 2023-04-01 2024-03-31 03292664 2022-04-01 2023-03-31 03292664 2024-03-31 03292664 2023-03-31 03292664 c:Director1 2023-04-01 2024-03-31 03292664 d:Buildings 2023-04-01 2024-03-31 03292664 d:Buildings 2024-03-31 03292664 d:Buildings 2023-03-31 03292664 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03292664 d:Buildings d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 03292664 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 03292664 d:Buildings d:LongLeaseholdAssets 2024-03-31 03292664 d:Buildings d:LongLeaseholdAssets 2023-03-31 03292664 d:MotorVehicles 2023-04-01 2024-03-31 03292664 d:MotorVehicles 2024-03-31 03292664 d:MotorVehicles 2023-03-31 03292664 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03292664 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 03292664 d:FurnitureFittings 2023-04-01 2024-03-31 03292664 d:FurnitureFittings 2024-03-31 03292664 d:FurnitureFittings 2023-03-31 03292664 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03292664 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 03292664 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03292664 d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 03292664 d:FreeholdInvestmentProperty 2023-04-01 2024-03-31 03292664 d:FreeholdInvestmentProperty 2024-03-31 03292664 d:FreeholdInvestmentProperty 2023-03-31 03292664 d:CurrentFinancialInstruments 2024-03-31 03292664 d:CurrentFinancialInstruments 2023-03-31 03292664 d:Non-currentFinancialInstruments 2024-03-31 03292664 d:Non-currentFinancialInstruments 2023-03-31 03292664 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 03292664 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03292664 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 03292664 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 03292664 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 03292664 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 03292664 d:ShareCapital 2024-03-31 03292664 d:ShareCapital 2023-03-31 03292664 d:RevaluationReserve 2023-04-01 2024-03-31 03292664 d:RevaluationReserve 2024-03-31 03292664 d:RevaluationReserve 2023-03-31 03292664 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 03292664 d:RetainedEarningsAccumulatedLosses 2024-03-31 03292664 d:RetainedEarningsAccumulatedLosses 2023-03-31 03292664 c:OrdinaryShareClass1 2023-04-01 2024-03-31 03292664 c:OrdinaryShareClass1 2024-03-31 03292664 c:OrdinaryShareClass1 2023-03-31 03292664 c:FRS102 2023-04-01 2024-03-31 03292664 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03292664 c:FullAccounts 2023-04-01 2024-03-31 03292664 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03292664 2 2023-04-01 2024-03-31 03292664 5 2023-04-01 2024-03-31 03292664 6 2023-04-01 2024-03-31 03292664 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 03292664 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 03292664 3 2024-03-31 03292664 3 2023-03-31 03292664 f:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03292664









SIMON JONES SUPERFREIGHT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
SIMON JONES SUPERFREIGHT LIMITED
REGISTERED NUMBER: 03292664

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,592,414
3,597,292

Investments
 5 
10,769
10,770

Investment property
 6 
5,107,704
3,739,594

  
8,710,887
7,347,656

Current assets
  

Debtors: amounts falling due after more than one year
 7 
4,971,542
5,682,688

Debtors: amounts falling due within one year
 7 
144,182
245,795

Cash at bank and in hand
 8 
347,515
353,452

  
5,463,239
6,281,935

Creditors: amounts falling due within one year
 9 
(2,440,410)
(2,108,216)

Net current assets
  
 
 
3,022,829
 
 
4,173,719

Total assets less current liabilities
  
11,733,716
11,521,375

Creditors: amounts falling due after more than one year
 10 
(2,572,677)
(2,941,085)

Provisions for liabilities
  

Deferred tax
 12 
(415,645)
(418,145)

  
 
 
(415,645)
 
 
(418,145)

Net assets
  
8,745,394
8,162,145


Capital and reserves
  

Called up share capital 
 13 
100
3

Revaluation reserve
 14 
1,578,030
1,585,529

Profit and loss account
 14 
7,167,264
6,576,613

  
8,745,394
8,162,145


Page 1

 
SIMON JONES SUPERFREIGHT LIMITED
REGISTERED NUMBER: 03292664
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S Jones
Director

Date: 3 December 2024

The notes on pages 3 to 13 form part of these financial statements.

Page 2

 
SIMON JONES SUPERFREIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Simon Jones Superfreight Limited is a private company limited by shares and incorporated in England and Wales (registered number: 03292664).
The registered office is 101 New Cavendish Street, 1st Foor South,  London, W1W 6XH, and the principal place of business address is Unit 15, 20 and 22 Chancerygate Business Centre, 170 Rowan Road, London, SW16 5BN.
The principal activity of the company continued to be that of logistic services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
SIMON JONES SUPERFREIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Motor vehicles
-
33% straight line
Fixtures and fittings
-
10% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 4

 
SIMON JONES SUPERFREIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.11

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 5

 
SIMON JONES SUPERFREIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.13

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.14

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.15

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.16

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.17

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
SIMON JONES SUPERFREIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.18

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2023 - 13).

Page 7

 
SIMON JONES SUPERFREIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Freehold property
Long-term leasehold property
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
2,800,000
314,655
509,047
104,860
3,728,562


Additions
-
-
59,030
2,165
61,195



At 31 March 2024

2,800,000
314,655
568,077
107,025
3,789,757



Depreciation


At 1 April 2023
-
(270,344)
351,096
50,520
131,272


Charge for the year on owned assets
-
-
43,552
-
43,552


Charge for the year on financed assets
-
-
12,520
-
12,520


On revalued assets
-
9,999
-
-
9,999



At 31 March 2024

-
(260,345)
407,168
50,520
197,343



Net book value



At 31 March 2024
2,800,000
575,000
160,909
56,505
3,592,414



At 31 March 2023
2,800,000
584,999
157,951
54,340
3,597,290

Page 8

 
SIMON JONES SUPERFREIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Fixed asset investments





Investments in subsidiary companies
Tangible investments
Total

£
£
£



Cost or valuation


At 1 April 2023
1
10,769
10,770


Disposals
(1)
-
(1)



At 31 March 2024
-
10,769
10,769






Net book value



At 31 March 2024
-
10,769
10,769



At 31 March 2023
1
10,769
10,770


6.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
3,739,594


Additions at cost
1,368,110



At 31 March 2024
5,107,704

The 2024 valuations were made by the directors, on an open market value for existing use basis.






Page 9

 
SIMON JONES SUPERFREIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Debtors

2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
4,971,542
5,682,688

4,971,542
5,682,688


2024
2023
£
£

Due within one year

Trade debtors
96,623
203,782

Prepayments and accrued income
47,559
42,013

144,182
245,795



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
347,515
353,452

Less: bank overdrafts
(4,633)
(734)

342,882
352,718


Page 10

 
SIMON JONES SUPERFREIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
4,633
734

Bank loans
319,409
272,391

Trade creditors
129,702
287,358

Amounts owed to group undertakings
70,928
-

Corporation tax
204,638
228,954

Other taxation and social security
271,520
221,793

Obligations under finance lease and hire purchase contracts
7,360
7,360

Other creditors
50,000
50,000

Accruals and deferred income
1,382,220
1,039,626

2,440,410
2,108,216



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
2,166,906
2,528,333

Other loans
33,357
40,717

Other creditors
372,414
372,035

2,572,677
2,941,085



11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
319,409
272,391

Amounts falling due after one year

Bank loans
2,166,906
2,528,333

Other loans
33,357
40,717



2,519,672
2,841,441


Page 11

 
SIMON JONES SUPERFREIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.


Deferred taxation




2024


£






At beginning of year
(418,145)


Charged to profit or loss
2,500



At end of year
(415,645)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Revaluation of property
(415,645)
(418,145)

(415,645)
(418,145)


13.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 3) Ordinary shares of £1.00 each
100
3


During the year, 73 ordinary A shares and 24 ordinary B shares were issued at par value.


14.


Reserves

Revaluation reserve

The revaluation reserve comprises revaluations to freehold and leasehold property, net of any deferred tax liability.

Profit and loss account

The profit and loss account comprises all accumulated realised profits less all accumulated realised losses.

Page 12

 
SIMON JONES SUPERFREIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


15.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £9,460 (2023: £9,822).

 
Page 13