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REGISTERED NUMBER: 09567806 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

OPTIMUM FREIGHT SOLUTIONS LIMITED

OPTIMUM FREIGHT SOLUTIONS LIMITED (REGISTERED NUMBER: 09567806)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


OPTIMUM FREIGHT SOLUTIONS LIMITED (REGISTERED NUMBER: 09567806)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,282 6,118
Investments 5 2,350,991 2,350,991
2,354,273 2,357,109

CURRENT ASSETS
Debtors 6 403,934 398,588
Cash at bank 106,075 154,121
510,009 552,709
CREDITORS
Amounts falling due within one year 7 561,045 803,897
NET CURRENT LIABILITIES (51,036 ) (251,188 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,303,237

2,105,921

CREDITORS
Amounts falling due after more than one
year

8

(2,018,581

)

(1,821,459

)

PROVISIONS FOR LIABILITIES (821 ) (1,530 )
NET ASSETS 283,835 282,932

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 283,635 282,732
283,835 282,932

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

OPTIMUM FREIGHT SOLUTIONS LIMITED (REGISTERED NUMBER: 09567806)

BALANCE SHEET - continued
30 APRIL 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 19 December 2024 and were signed on its behalf by:





J P Sykes - Director


OPTIMUM FREIGHT SOLUTIONS LIMITED (REGISTERED NUMBER: 09567806)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Optimum Freight Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09567806

Registered office: 5 Brooklands Place
Brooklands Road
Sale
Cheshire
M33 3SD

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 33.33% on cost

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

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.

OPTIMUM FREIGHT SOLUTIONS LIMITED (REGISTERED NUMBER: 09567806)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 4,430 6,441 10,871
DEPRECIATION
At 1 May 2023 2,505 2,248 4,753
Charge for year 854 1,982 2,836
At 30 April 2024 3,359 4,230 7,589
NET BOOK VALUE
At 30 April 2024 1,071 2,211 3,282
At 30 April 2023 1,925 4,193 6,118

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2023
and 30 April 2024 2,350,991
NET BOOK VALUE
At 30 April 2024 2,350,991
At 30 April 2023 2,350,991

The company has a 100% holding in Premier International Freight Limited, a shipping and freight business with company number 3459577 and registered office address 5 Brooklands Place, Brooklands Road, Sale, Cheshire M33 3SD.

OPTIMUM FREIGHT SOLUTIONS LIMITED (REGISTERED NUMBER: 09567806)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 322,111 326,914
Other debtors 81,823 71,674
403,934 398,588

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 292,707 253,279
Amounts owed to group undertakings 45,150 100,000
Taxation and social security 40,697 37,564
Other creditors 182,491 413,054
561,045 803,897

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Amounts owed to group undertakings 2,018,581 1,776,459
Other creditors - 45,000
2,018,581 1,821,459

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 14,164 -
Between one and five years 35,410 -
49,574 -

10. RELATED PARTY DISCLOSURES

The company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.

Included within creditors is an amount due to Premier International Freight Limited, the company's subsidiary company of £2,063,731 (2023: £1,876,459). No interest was charged on this loan.