Acorah Software Products - Accounts Production 16.1.300 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 03590311 Mrs M A Thomas Mr A M Thomas Mr A M Thomas iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03590311 2023-06-30 03590311 2024-06-30 03590311 2023-07-01 2024-06-30 03590311 frs-core:CurrentFinancialInstruments 2024-06-30 03590311 frs-core:Non-currentFinancialInstruments 2024-06-30 03590311 frs-core:ComputerEquipment 2024-06-30 03590311 frs-core:ComputerEquipment 2023-07-01 2024-06-30 03590311 frs-core:ComputerEquipment 2023-06-30 03590311 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-06-30 03590311 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 03590311 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-06-30 03590311 frs-core:MotorVehicles 2024-06-30 03590311 frs-core:MotorVehicles 2023-07-01 2024-06-30 03590311 frs-core:MotorVehicles 2023-06-30 03590311 frs-core:ShareCapital 2024-06-30 03590311 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 03590311 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 03590311 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 03590311 frs-bus:SmallEntities 2023-07-01 2024-06-30 03590311 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 03590311 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 03590311 frs-bus:Director1 2023-07-01 2024-06-30 03590311 frs-bus:Director2 2023-07-01 2024-06-30 03590311 frs-bus:CompanySecretary1 2023-07-01 2024-06-30 03590311 frs-countries:EnglandWales 2023-07-01 2024-06-30 03590311 2022-06-30 03590311 2023-06-30 03590311 2022-07-01 2023-06-30 03590311 frs-core:CurrentFinancialInstruments 2023-06-30 03590311 frs-core:Non-currentFinancialInstruments 2023-06-30 03590311 frs-core:ShareCapital 2023-06-30 03590311 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 03590311
XL Freight Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03590311
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 102,808 97,654
102,808 97,654
CURRENT ASSETS
Stocks 5 1,500 1,500
Debtors 6 173,591 149,257
Cash at bank and in hand 47,895 146,852
222,986 297,609
Creditors: Amounts Falling Due Within One Year 7 (77,592 ) (74,469 )
NET CURRENT ASSETS (LIABILITIES) 145,394 223,140
TOTAL ASSETS LESS CURRENT LIABILITIES 248,202 320,794
Creditors: Amounts Falling Due After More Than One Year 8 (19,167 ) (29,167 )
PROVISIONS FOR LIABILITIES
Provisions For Charges (6,733 ) (18,554 )
NET ASSETS 222,302 273,073
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 222,301 273,072
SHAREHOLDERS' FUNDS 222,302 273,073
Page 1
Page 2
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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs M A Thomas
Director
Mr A M Thomas
Director
27/03/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
XL Freight Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03590311 . The registered office is Office 4 The Admin Block Wholesale Fruit Centre, Bessemer Road, Cardiff, CF11 8BE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Improvement 10% on cost
Motor Vehicles 25% on cost
Computer Equipment 25% on cost
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 9)
10 9
4. Tangible Assets
Land & Property
Improvement Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 7,722 261,233 20,300 289,255
Additions - 66,450 - 66,450
Disposals - (26,418 ) - (26,418 )
As at 30 June 2024 7,722 301,265 20,300 329,287
Depreciation
As at 1 July 2023 7,722 163,863 20,016 191,601
Provided during the period - 49,520 146 49,666
Disposals - (14,788 ) - (14,788 )
As at 30 June 2024 7,722 198,595 20,162 226,479
Net Book Value
As at 30 June 2024 - 102,670 138 102,808
As at 1 July 2023 - 97,370 284 97,654
5. Stocks
2024 2023
£ £
Stock 1,500 1,500
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 172,591 145,463
Other debtors 1,000 3,794
173,591 149,257
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 24,569 22,067
Other creditors 31,678 26,975
Taxation and social security 21,345 25,427
77,592 74,469
Page 4
Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 19,167 29,167
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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