Registered number
09819596
Intercity Railfreight Ltd
Filleted Accounts
31 October 2024
Intercity Railfreight Ltd
Registered number: 09819596
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 49,836 29,795
Tangible assets 4 1,999 2,499
Investments 5 5 -
51,840 32,294
Current assets
Debtors 6 34,693 23,894
Cash at bank and in hand 228,340 287,904
263,033 311,798
Creditors: amounts falling due within one year 7 (87,313) (20,720)
Net current assets 175,720 291,078
Net assets 227,560 323,372
Capital and reserves
Called up share capital 11 1
Profit and loss account 227,549 323,371
Shareholders' funds 227,560 323,372
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.
J D Screeton
Director
Approved by the board on 5 May 2025
Intercity Railfreight Ltd
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant, machinery and office equipment 20% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Website, software and patents
Cost
At 1 November 2023 51,075
Additions 32,500
At 31 October 2024 83,575
Amortisation
At 1 November 2023 21,280
Provided during the year 12,459
At 31 October 2024 33,739
Net book value
At 31 October 2024 49,836
At 31 October 2023 29,795
4 Tangible fixed assets
Equipment
£
Cost
At 1 November 2023 5,240
At 31 October 2024 5,240
Depreciation
At 1 November 2023 2,741
Charge for the year 500
At 31 October 2024 3,241
Net book value
At 31 October 2024 1,999
At 31 October 2023 2,499
5 Investments
Investments in
subsidiary
undertakings
£
Cost
Additions 5
At 31 October 2024 5
6 Debtors 2024 2023
£ £
Trade debtors 19,791 16,345
Amounts owed by group undertakings and undertakings in which the company has a participating interest 5,888 -
Other debtors 9,014 7,549
34,693 23,894
7 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 29,311 13,261
Director's loan 7,459 7,459
Taxation and social security costs 498 -
Other creditors 50,045 -
87,313 20,720
8 Related party transactions
Rent of office paid to related party - 600
Interest free loan from related party 7,459 7,459
Director's remuneration 9,060 9,060
Dividends paid to related party - -
9 Controlling party
The controlling party was J Screeton who owns majority of the issued share capital.
10 Other information
Intercity Railfreight Ltd is a private company limited by shares and incorporated in England. Its registered office is:
D08, Gothic House
Barker Gate
Nottingham
Notts
NG1 1JU
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