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REGISTERED NUMBER: 12367360 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

FREIGHTNORDIC Logistics Ltd

FREIGHTNORDIC Logistics Ltd (Registered number: 12367360)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FREIGHTNORDIC Logistics Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: A R T Bonner





REGISTERED OFFICE: Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW





REGISTERED NUMBER: 12367360 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

FREIGHTNORDIC Logistics Ltd (Registered number: 12367360)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 122,793 89,595

CURRENT ASSETS
Debtors 5 1,556,770 1,437,497
Cash at bank 450,693 594,641
2,007,463 2,032,138
CREDITORS
Amounts falling due within one year 6 (1,704,448 ) (1,713,072 )
NET CURRENT ASSETS 303,015 319,066
TOTAL ASSETS LESS CURRENT
LIABILITIES

425,808

408,661

CREDITORS
Amounts falling due after more than one
year

7

(125,332

)

(147,373

)

PROVISIONS FOR LIABILITIES (23,259 ) (15,461 )
NET ASSETS 277,217 245,827

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 277,117 245,727
277,217 245,827

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

FREIGHTNORDIC Logistics Ltd (Registered number: 12367360)

Balance Sheet - continued
31 May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 February 2025 and were signed by:





A R T Bonner - Director


FREIGHTNORDIC Logistics Ltd (Registered number: 12367360)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

FREIGHTNORDIC Logistics Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.
Improvements to property - 33% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

FREIGHTNORDIC Logistics Ltd (Registered number: 12367360)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease

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 14 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 54,438 6,568 60,538 17,699 139,243
Additions - - 79,927 666 80,593
At 31 May 2024 54,438 6,568 140,465 18,365 219,836
DEPRECIATION
At 1 June 2023 18,852 2,584 20,435 7,777 49,648
Charge for year 11,149 797 30,008 5,441 47,395
At 31 May 2024 30,001 3,381 50,443 13,218 97,043
NET BOOK VALUE
At 31 May 2024 24,437 3,187 90,022 5,147 122,793
At 31 May 2023 35,586 3,984 40,103 9,922 89,595

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 1,314,061 1,157,932
Other debtors 242,709 279,565
1,556,770 1,437,497

Other debtors includes prepayments and accrued income of £10,870 (2023: £8,456).

FREIGHTNORDIC Logistics Ltd (Registered number: 12367360)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 60,246 59,994
Hire purchase contracts 39,521 5,040
Trade creditors 1,204,264 1,537,948
Taxation and social security 27,362 26,253
Other creditors 373,055 83,837
1,704,448 1,713,072

Other creditors includes accruals and deferred income of £2,668 (2023: £2,429).

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 60,505 120,752
Hire purchase contracts 64,827 26,621
125,332 147,373

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Hire purchase contracts 104,348 31,661
Bank loans - 150,000
104,348 181,661

The hire purchase liabilities are secured against the assets being so acquired.

The bank loan is secured via a fixed and floating charge over the assets of the company.

9. OTHER FINANCIAL COMMITMENTS

The amount of financial commitments, guarantees and contingencies that are not included in the balance sheet is £29,276 (2023: £39,649).

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

31.5.24 31.5.23
£    £   
A R T Bonner
Balance outstanding at start of year - -
Amounts advanced - 58,684
Amounts repaid - (58,684 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

FREIGHTNORDIC Logistics Ltd (Registered number: 12367360)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued

Interest was charged on the above loan at HM Revenue and Customs official rate of interest. The loan was repayable on demand.