Registered number
03324439
Rail Freight (Users & Suppliers) Group
Filleted Accounts
30 June 2024
Rail Freight (Users & Suppliers) Group
Registered number: 03324439
Statement of Financial Position
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 2 - -
- -
Current assets
Debtors 3 96,145 128,762
Cash at bank and in hand 390,061 366,406
486,206 495,168
Creditors: amounts falling due within one year 4 (121,087) (142,185)
Net current assets 365,119 352,983
Total assets less current liabilities 365,119 352,983
Net assets 365,119 352,983
Capital and reserves
Profit and loss account 365,119 352,983
Shareholders' funds 365,119 352,983
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Chris Swan
Director
Approved by the board on 13 November 2024
Rail Freight (Users & Suppliers) Group
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
General information
The company is a private company limited by guarantee, registered in England and Wales
Statement of Compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Income represents members annual subscriptions and other contributions and income received in furtherance of the company's activities. Annual subscriptions covering a future period are carried forward in "other creditors" at each year end.
Tangible fixed assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery over 5 years straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Limited by guarantee
The company is limited by guarantee and does not have a share capital, its members agreeing to contribute £1 each to the assets of the company in the event of it being wound up. In the event of the company being wound up any retained surplus shall not be payable to the members but must be transferred to an institution with similar objectives to the company. Consequently the accumulated surplus does not constitute shareholders or members funds.
2 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 - - - -
Additions - - - -
Surplus on revaluation - - - -
Disposals - - - -
At 30 June 2024 - - - -
Depreciation
At 1 July 2023 - - - -
Charge for the year - - - -
Surplus on revaluation - - - -
On disposals - - - -
At 30 June 2024 - - - -
Net book value
At 30 June 2024 - - - -
At 30 June 2023 - - - -
3 Debtors 2024 2023
£ £
Trade debtors 67,612 101,022
Other debtors 28,533 27,740
96,145 128,762
Amounts due after more than one year included above - -
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 3,824 7,095
Taxation and social security costs 22,387 34,093
Pension creditor 65 60
Other creditors 94,811 100,937
121,087 142,185
5 Related party transactions
There are no related party transactions that require disclosure.
6 Other information
Rail Freight (Users & Suppliers) Group is a private company limited by guarantee and incorporated in England. Its registered office is:
7 Bury Place
London
WC1A 2LA
2024 2023
7 The average number of employees in the period was 3 3
Rail Freight (Users & Suppliers) Group 03324439 false 2023-07-01 2024-06-30 2024-06-30 VT Final Accounts July 2024 Chris Swan No description of principal activity 03324439 2022-07-01 2023-06-30 03324439 core:WithinOneYear 2023-06-30 03324439 core:RetainedEarningsAccumulatedLosses 2023-06-30 03324439 core:AfterOneYear 2023-06-30 03324439 2023-07-01 2024-06-30 03324439 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 03324439 bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 03324439 bus:Director40 2023-07-01 2024-06-30 03324439 1 2023-07-01 2024-06-30 03324439 2 2023-07-01 2024-06-30 03324439 core:LandBuildings 2023-07-01 2024-06-30 03324439 core:PlantMachinery 2023-07-01 2024-06-30 03324439 core:Vehicles 2023-07-01 2024-06-30 03324439 countries:England 2023-07-01 2024-06-30 03324439 bus:FRS102 2023-07-01 2024-06-30 03324439 bus:FilletedAccounts 2023-07-01 2024-06-30 03324439 2024-06-30 03324439 core:WithinOneYear 2024-06-30 03324439 core:RetainedEarningsAccumulatedLosses 2024-06-30 03324439 core:LandBuildings 2024-06-30 03324439 core:PlantMachinery 2024-06-30 03324439 core:Vehicles 2024-06-30 03324439 core:AfterOneYear 2024-06-30 03324439 2023-06-30 03324439 core:LandBuildings 2023-06-30 03324439 core:PlantMachinery 2023-06-30 03324439 core:Vehicles 2023-06-30 iso4217:GBP xbrli:pure