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
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
TFS Express Logistics Ltd
Statement of financial position
as at 30 June 2024
Intangible assets
13,000
14,000
Tangible assets
689,292
538,227
Cash at bank and in hand
286,148
407,982
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
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
TFS Express Logistics Ltd
Notes to the Accounts
for the year ended 30 June 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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.
TFS Express Logistics Ltd
Notes to the Accounts
for the year ended 30 June 2024
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.
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
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
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
At 30 June 2024
7,834
677,487
3,971
689,292
At 30 June 2023
5,275
526,955
5,997
538,227
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
189,173
115,044
TFS Express Logistics Ltd
Notes to the Accounts
for the year ended 30 June 2024
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
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
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
104,486
44,391
9
Average number of employees
During the year the average number of employees was 23 (2023: 19).