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Company Registration No. 10839609 (England and Wales)
TFS Express Logistics Ltd Unaudited accounts for the year ended 30 June 2024
TFS Express Logistics Ltd Unaudited accounts Contents
Page
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TFS Express Logistics Ltd Company Information for the year ended 30 June 2024
Directors
Richard Jackson Rosie Jackson James Jackson
Company Number
10839609 (England and Wales)
Registered Office
Ingleside Shortthorn Road Stratton Strawless Norwich NR10 5NU
Accountants
Mrs A C Howell 13 Ipswich Grove Norwich Norfolk NR2 2LU
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TFS Express Logistics Ltd Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
13,000 
14,000 
Tangible assets
689,292 
538,227 
702,292 
552,227 
Current assets
Debtors
578,043 
343,034 
Cash at bank and in hand
286,148 
407,982 
864,191 
751,016 
Creditors: amounts falling due within one year
(375,307)
(316,182)
Net current assets
488,884 
434,834 
Total assets less current liabilities
1,191,176 
987,061 
Creditors: amounts falling due after more than one year
(114,499)
(64,291)
Provisions for liabilities
Deferred tax
(133,596)
(134,557)
Net assets
943,081 
788,213 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
943,079 
788,211 
Shareholders' funds
943,081 
788,213 
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 January 2025 and were signed on its behalf by
Rosie Jackson Director Company Registration No. 10839609
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TFS Express Logistics Ltd Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
TFS Express Logistics Ltd is a private company, limited by shares, registered in England and Wales, registration number 10839609. The registered office is Ingleside , Shortthorn Road, Stratton Strawless, Norwich, NR10 5NU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Computer equipment
4 years straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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TFS Express Logistics Ltd Notes to the Accounts for the year ended 30 June 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 July 2023
20,000 
At 30 June 2024
20,000 
Amortisation
At 1 July 2023
6,000 
Charge for the year
1,000 
At 30 June 2024
7,000 
Net book value
At 30 June 2024
13,000 
At 30 June 2023
14,000 
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 July 2023
10,552 
902,923 
19,989 
933,464 
Additions
6,218 
406,564 
1,389 
414,171 
Disposals
(2,476)
(41,820)
- 
(44,296)
At 30 June 2024
14,294 
1,267,667 
21,378 
1,303,339 
Depreciation
At 1 July 2023
5,277 
375,968 
13,992 
395,237 
Charge for the year
2,614 
225,838 
3,415 
231,867 
On disposals
(1,431)
(11,626)
- 
(13,057)
At 30 June 2024
6,460 
590,180 
17,407 
614,047 
Net book value
At 30 June 2024
7,834 
677,487 
3,971 
689,292 
At 30 June 2023
5,275 
526,955 
5,997 
538,227 
2024 
2023 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
189,173 
115,044 
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TFS Express Logistics Ltd Notes to the Accounts for the year ended 30 June 2024
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
425,316 
305,679 
Accrued income and prepayments
33,462 
25,557 
Other debtors
119,265 
11,798 
578,043 
343,034 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
Obligations under finance leases and hire purchase contracts
42,089 
32,620 
Trade creditors
118,119 
84,985 
Taxes and social security
181,391 
162,240 
Other creditors
2,274 
1,605 
Loans from directors
556 
745 
Accruals
20,878 
23,987 
375,307 
316,182 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
10,013 
19,900 
Obligations under finance leases and hire purchase contracts
104,486 
44,391 
114,499 
64,291 
9
Average number of employees
During the year the average number of employees was 23 (2023: 19).
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