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Registered number: 04877439
Freemans Autologistics Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Elsby & Company Limited
155 Wellingborough Road
Rushden
Northamptonshire
NN10 9TB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04877439
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 810,891 346,167
810,891 346,167
CURRENT ASSETS
Debtors 6 746,416 539,944
Cash at bank and in hand 63,600 39,982
810,016 579,926
Creditors: Amounts Falling Due Within One Year 7 (486,631 ) (472,911 )
NET CURRENT ASSETS (LIABILITIES) 323,385 107,015
TOTAL ASSETS LESS CURRENT LIABILITIES 1,134,276 453,182
Creditors: Amounts Falling Due After More Than One Year 8 (721,325 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (202,651 ) (20,485 )
NET ASSETS 210,300 432,697
CAPITAL AND RESERVES
Called up share capital 10 10,000 10,000
Profit and Loss Account 200,300 422,697
SHAREHOLDERS' FUNDS 210,300 432,697
Page 1
Page 2
For the year ending 31 December 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
A R Kettle
Director
19th May 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
Freemans Autologistics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04877439 . The registered office is 191 Avenue Road, RUSHDEN, Northamptonshire, NN10 0SN.
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 represents net invoiced sales of goods and services supplied to customers during the year, excluding value added
tax.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Computer software is being amortised evenly over its estimated useful life of four years.
2.4. Tangible Fixed Assets and Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Leasehold 5 year straight line
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 33% on reducing balance
2.5. Taxation
The taxation expense represents the sum of the corporation tax currently payable and any deferred tax.
The corporation tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus 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 in respect of all timing differences that have originated but not reversed at 31 December 2024.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 8)
9 8
Page 3
Page 4
4. Intangible Assets
Other
£
Cost
As at 1 January 2024 5,000
As at 31 December 2024 5,000
Amortisation
As at 1 January 2024 5,000
As at 31 December 2024 5,000
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 -
5. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 79,685 1,677,408 5,738 24,445 1,787,276
Additions - 676,030 - 1,426 677,456
Disposals - (141,500 ) - - (141,500 )
As at 31 December 2024 79,685 2,211,938 5,738 25,871 2,323,232
Depreciation
As at 1 January 2024 79,685 1,334,136 5,530 21,758 1,441,109
Provided during the period - 166,562 42 1,357 167,961
Disposals - (96,729 ) - - (96,729 )
As at 31 December 2024 79,685 1,403,969 5,572 23,115 1,512,341
Net Book Value
As at 31 December 2024 - 807,969 166 2,756 810,891
As at 1 January 2024 - 343,272 208 2,687 346,167
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 575,435 95,537
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Page 5
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 377,382 483,286
Prepayments and accrued income 95,159 56,658
Other debtors 230,000 -
702,541 539,944
Due after more than one year
Corporation tax recoverable assets 43,875 -
746,416 539,944
The loan included above in 'Other Debtors' is interest free and repayable on demand.
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 121,603 48,674
Trade creditors 77,095 94,488
Other loans 69,092 -
Other creditors 74,691 104,192
Taxation and social security 144,150 225,557
486,631 472,911
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 398,333 -
Other loans 322,992 -
721,325 -
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 121,603 48,674
Later than one year and not later than five years 398,333 -
519,936 48,674
519,936 48,674
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,000 10,000
Page 5