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FREIGHT SHOP LTD

Registered Number
08987735
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

FREIGHT SHOP LTD
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

A H Adamczewski
H L Adamczewski

Registered Address

12a Marlborough Place
Brighton
BN1 1WN

Registered Number

08987735 (England and Wales)
FREIGHT SHOP LTD
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets33,6983,610
3,6983,610
Current assets
Stocks420,0009,665
Debtors58,1501,037
Cash at bank and on hand144,136187,048
172,286197,750
Creditors amounts falling due within one year6(121,843)(130,143)
Net current assets (liabilities)50,44367,607
Total assets less current liabilities54,14171,217
Net assets54,14171,217
Capital and reserves
Called up share capital22
Profit and loss account54,13971,215
Shareholders' funds54,14171,217
The financial statements were approved and authorised for issue by the Board of Directors on 22 January 2025, and are signed on its behalf by:
A H Adamczewski
Director
H L Adamczewski
Director

Registered Company No. 08987735
FREIGHT SHOP LTD
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery20
Office Equipment20
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year55
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 May 238,86112,54121,402
Additions845-845
At 30 April 249,70612,54122,247
Depreciation and impairment
At 01 May 237,67110,12117,792
Charge for year273484757
At 30 April 247,94410,60518,549
Net book value
At 30 April 241,7621,9363,698
At 30 April 231,1902,4203,610
4.Stocks

2024

2023

££
Other stocks20,0009,665
Total20,0009,665
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables7,9411,037
Prepayments and accrued income209-
Total8,1501,037
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables26,99626,996
Bank borrowings and overdrafts50,00050,000
Taxation and social security14,00317,174
Other creditors27,30435,073
Accrued liabilities and deferred income3,540900
Total121,843130,143