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COMPANY REGISTRATION NUMBER: 12159383
Cargosave Consultants Limited
Filleted Unaudited Financial Statements
For the year ended
31 August 2024
Cargosave Consultants Limited
Financial Statements
Year ended 31 August 2024
Contents
Pages
Statement of financial position
1 to 2
Notes to the financial statements
3 to 7
Cargosave Consultants Limited
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
1,197
1,017
Current assets
Debtors
6
40,651
38,704
Cash at bank and in hand
132,511
98,162
---------
---------
173,162
136,866
Creditors: amounts falling due within one year
7
81,297
49,141
---------
---------
Net current assets
91,865
87,725
--------
--------
Total assets less current liabilities
93,062
88,742
--------
--------
Net assets
93,062
88,742
--------
--------
Capital and reserves
Called up share capital
8
2
2
Profit and loss account
93,060
88,740
--------
--------
Shareholders funds
93,062
88,742
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 Act with respect to accounting records and the preparation of financial statements .
Cargosave Consultants Limited
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 22 May 2025 , and are signed on behalf of the board by:
Mr Glyn Leslie Smith
Director
Company registration number: 12159383
Cargosave Consultants Limited
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Romalco House, 49 Guildford Road, Bagshot, England, GU19 5NG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in UK sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.
Trade receivables
Trade receivables do not carry any interest and are stated at their original invoice value as reduced by appropriate allowances for estimated irrecoverable amounts.
Trade payables
Trade payables do not carry any interest and are stated at their original invoice value.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income. In this case, tax is recognised in other comprehensive income. 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Fixtures, fittings and equipment
-
Straight line over 3 years
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Tangible assets
Fixtures, fittings and equipment
£
Cost
At 1 September 2023
30,826
Additions
1,481
--------
At 31 August 2024
32,307
--------
Depreciation
At 1 September 2023
29,809
Charge for the year
1,301
--------
At 31 August 2024
31,110
--------
Carrying amount
At 31 August 2024
1,197
--------
At 31 August 2023
1,017
--------
6. Debtors
2024
2023
£
£
Trade debtors
30,942
27,852
Other debtors
9,709
10,852
--------
--------
40,651
38,704
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
57,555
17,314
Social security and other taxes
20,556
27,662
Other creditors
3,186
4,165
--------
--------
81,297
49,141
--------
--------
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
----
----
----
----
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
5,671
6,790
Later than 1 year and not later than 5 years
5,671
-------
--------
5,671
12,461
-------
--------
10. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr & Mrs Smith
235
26,535
( 19,416)
7,354
----
--------
--------
-------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr & Mrs Smith
32,737
19,872
( 52,374)
235
--------
--------
--------
----
11. Related party transactions
The company entered into the following related party transactions during the year:
Nature of Relationship Transaction Type 2024 2023
£
Other related party controlled by a director Balance due to/(from) (292) (240)