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Company registration number: 10370681







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


FAST FORWARD FREIGHT AND LOGISTICS LIMITED






































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FAST FORWARD FREIGHT AND LOGISTICS LIMITED
 


 
COMPANY INFORMATION


Director
M. Terpstra 




Registered number
10370681



Registered office
Emergevest House
13 Hayes Road

Southall

UB2 5ND




Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

Ashcombe House

5 The Crescent

Leatherhead

Surrey

KT22 8DY





 


FAST FORWARD FREIGHT AND LOGISTICS LIMITED
 



CONTENTS



Page
Statement of Financial Position
1
Notes to the Financial Statements
2 - 6


 


FAST FORWARD FREIGHT AND LOGISTICS LIMITED
REGISTERED NUMBER:10370681



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,963
2,438

  
1,963
2,438

Current assets
  

Debtors: amounts falling due within one year
 5 
2,295,273
1,256,565

Cash at bank and in hand
  
179,185
110,276

  
2,474,458
1,366,841

Creditors: amounts falling due within one year
 6 
(1,891,481)
(1,172,374)

Net current assets
  
 
 
582,977
 
 
194,467

Total assets less current liabilities
  
584,940
196,905

  

Net assets
  
584,940
196,905


Capital and reserves
  

Allotted,called up and fully paid share capital
  
100
100

Profit and loss account
  
584,840
196,805

  
584,940
196,905


The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M. Terpstra
Director

Date: 5 March 2025

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 


FAST FORWARD FREIGHT AND LOGISTICS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Fast Forward Freight and Logistics Limited is a private company limited by shares registered in England and Wales. The address of the principal place of business is Unit 4A Bairdsland View, Bellshill, Glasgow, ML4 1RZ.
These financial statements have been rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

On 1st January 2024, the parent company took the decision to take the company into its own operations. As a result, the going concern basis is no longer appropriate and these financial statements have been prepared on a basis other than that of a going concern basis, which is not materially different to the going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Revenue

Revenue is recognised on the date that the Company has fulfilled the obligation in transporting the customers goods. Costs associated are recognised in the same period as the revenue. 
Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 2

 


FAST FORWARD FREIGHT AND LOGISTICS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


Page 3

 


FAST FORWARD FREIGHT AND LOGISTICS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial
assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans
to related parties and investments in ordinary shares.

Page 4

 


FAST FORWARD FREIGHT AND LOGISTICS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2022 - 11).


4.


Tangible fixed assets





Office equipment

£



Cost


At 1 January 2023
44,995



At 31 December 2023

44,995



Depreciation


At 1 January 2023
42,557


Charge for the year
475



At 31 December 2023

43,032



Net book value



At 31 December 2023
1,963



At 31 December 2022
2,438


5.


Debtors

2023
2022
£
£


Trade debtors
1,216,574
1,061,563

Amounts owed by group undertakings
292,458
-

Other debtors
196,545
82,239

Prepayments and accrued income
589,696
112,763

2,295,273
1,256,565


Page 5

 


FAST FORWARD FREIGHT AND LOGISTICS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
2,457
2,146

Trade creditors
365,112
425,525

Amounts owed to group undertakings
890,414
446,328

Corporation tax
119,533
84,472

Other taxation and social security
36,755
12,466

Other creditors
3,819
9,226

Accruals and deferred income
473,391
192,211

1,891,481
1,172,374



7.


Related party transactions

The entity has taken the exemption and not disclosed intergroup transactions at the year end in line with FRS102 Section 33.1A.


8.


Post balance sheet events

After the year end, on 1st January 2024, the company's trade and assets were hived up into the parent company EV Cargo Global Forwarding Limited.


9.


Parent and ultimate parent company

The immediate parent company is EV Cargo Global Forwarding Limited. The address of their registered office is: Emergevest House, 13 Hayes Road, Southall, England, UB2 5ND.
The ultimate parent company is EV Cargo Global Forwarding B.V, which is the largest and smallest group for which consolidated financial statements are drawn up of which this entity is a member. Their registered address is Contour Avenue 91, 2133 LD, Hoofddorp, Netherlands, where consolidated financial statements may be obtained.


10.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

In their report, the auditors emphasised the following matter without qualifying their report:

We draw attention to note 2.2 in the financial statements, which explains that the directors intend to hive up the trade and assets of the Company on 1 January 2024 into the immediate parent company and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in note 2.2. Our opinion is not modified in respect of this matter.

The audit report was signed on 5 March 2025 by Andrew Hookway FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 6