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. |
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|
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. |
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Limited by guarantee |
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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 |
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|
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 |