Company registration number 01494526 (England and Wales)
NORTHERN FREIGHT SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
NORTHERN FREIGHT SERVICES LIMITED
COMPANY INFORMATION
Directors
D Goldstraw
D Hoofe
M A Hoofe
D B Cruickshanks
Secretary
D Goldstraw
Company number
01494526
Registered office
Units 1-2 Abbey Lane Industrial Estate
Abbey Lane
Burscough
Ormskirk
Lancashire
United Kingdom
L40 7SR
Accountants
BK Plus Limited
7 Waterside Court
St. Helens
Merseyside
United Kingdom
WA9 1UA
NORTHERN FREIGHT SERVICES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
NORTHERN FREIGHT SERVICES LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
249,792
242,374
Investments
4
-
0
1
249,792
242,375
Current assets
Stocks
8,208
2,666
Debtors
5
467,032
345,453
Investments
6
10,810
10,810
Cash at bank and in hand
269,411
203,001
755,461
561,930
Creditors: amounts falling due within one year
7
(316,027)
(180,842)
Net current assets
439,434
381,088
Total assets less current liabilities
689,226
623,463
Provisions for liabilities
(61,382)
(59,459)
Net assets
627,844
564,004
Capital and reserves
Called up share capital
2,002
2,002
Capital redemption reserve
200,000
200,000
Profit and loss reserves
425,842
362,002
Total equity
627,844
564,004

The notes on pages 3 to 6 form part of these financial statements.

NORTHERN FREIGHT SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024
30 September 2024
- 2 -

For the financial year ended 30 September 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 15 May 2025 and are signed on its behalf by:
M A Hoofe
Director
Company registration number 01494526 (England and Wales)
NORTHERN FREIGHT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

Northern Freight Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Units1-2 Abbey Lane Industrial, Estate Abbey Lane Burscough, Ormskirk, Lancashire, United Kingdom, L40 7SR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Property improvements
33% straight line
Plant and machinery
25% straight line
Fixtures, fittings and equipment
25% straight line
Motor vehicles
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investments

Fixed asset investments are initially recorded at cost less any accumulated impairment losses.

Current asset investments are stated at the lower of cost and net realisable value.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

 

NORTHERN FREIGHT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Retirement benefits

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. Payments to the defined contribution pension scheme are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
10
12
NORTHERN FREIGHT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
3
Tangible fixed assets
Fixtures, fittings and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 October 2023
156,732
409,950
566,682
Additions
54,074
22,560
76,634
Disposals
-
0
(7,000)
(7,000)
At 30 September 2024
210,806
425,510
636,316
Depreciation and impairment
At 1 October 2023
137,836
186,472
324,308
Depreciation charged in the year
8,109
61,107
69,216
Eliminated in respect of disposals
-
0
(7,000)
(7,000)
At 30 September 2024
145,945
240,579
386,524
Carrying amount
At 30 September 2024
64,861
184,931
249,792
At 30 September 2023
18,896
223,478
242,374
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
-
0
1
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 October 2023 & 30 September 2024
30,000
Impairment
At 1 October 2023
29,999
Impairment losses
1
At 30 September 2024
30,000
Carrying amount
At 30 September 2024
-
At 30 September 2023
1
NORTHERN FREIGHT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
369,209
266,931
Other debtors
97,823
78,522
467,032
345,453
6
Current asset investments
2024
2023
£
£
Other investments
10,810
10,810
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
113,125
110,300
Corporation tax
63,384
19,478
Other taxation and social security
51,336
14,193
Other creditors
88,182
36,871
316,027
180,842
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