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REGISTERED NUMBER: 01589269 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

REGIONAL FREIGHT SERVICES LIMITED

REGIONAL FREIGHT SERVICES LIMITED (REGISTERED NUMBER: 01589269)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


REGIONAL FREIGHT SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr I R Liddell
Mr G Cobbing



SECRETARY: Mr N K Brooks



REGISTERED OFFICE: Regional House
Airport Cargo Terminal
Liberator Road
Norwich
Norfolk
NR6 6EU



REGISTERED NUMBER: 01589269 (England and Wales)



SENIOR STATUTORY AUDITOR: Mr Anthony Brain



AUDITORS: CG LEE Limited
Chartered Certified Accountants
Statutory Auditors
Ingram House
Meridian Way
Norwich
Norfolk
NR7 0TA

REGIONAL FREIGHT SERVICES LIMITED (REGISTERED NUMBER: 01589269)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 131,377 979,095
Cash at bank and in hand 570,031 768,865
701,408 1,747,960
CREDITORS
Amounts falling due within one year 5 207,376 1,345,665
NET CURRENT ASSETS 494,032 402,295
TOTAL ASSETS LESS CURRENT
LIABILITIES

494,032

402,295

CAPITAL AND RESERVES
Called up share capital 7 7,650 7,650
Capital redemption reserve 7,350 7,350
Retained earnings 479,032 387,295
SHAREHOLDERS' FUNDS 494,032 402,295

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2025 and were signed on its behalf by:





Mr I R Liddell - Director


REGIONAL FREIGHT SERVICES LIMITED (REGISTERED NUMBER: 01589269)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Regional Freight Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the value of work performed during the year, plus commissions and net of value added tax.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES

The average number of employees during the year was NIL (2022 - 22 ).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 85,693 645,406
Other debtors 45,684 333,689
131,377 979,095

REGIONAL FREIGHT SERVICES LIMITED (REGISTERED NUMBER: 01589269)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 67,305 131,273
Amounts owed to group undertakings 33,800 1,114,188
Taxation and social security 77,280 19,314
Other creditors 28,991 80,890
207,376 1,345,665

6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 97,164 104,830
Between one and five years 233,600 330,764
330,764 435,594

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
6,885 Ordinary A £1 6,885 6,885
765 Ordinary B £1 765 765
7,650 7,650

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Anthony Brain (Senior Statutory Auditor)
for and on behalf of CG LEE Limited

9. CONTINGENT LIABILITIES

At the year end, the company had a specific counter indemnity against a guarantee of £120,000 given by National Westminster Bank Plc in favour of HM Revenue & Customs in respect of deferred duties and associated charges.

10. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

11. PARENT COMPANY

The ultimate parent company and controlling party is GB Europe Holdings Limited, a company incorporated in the United Kingdom.GB Europe Holdings Limited heads the largest and smallest group of companies to consolidate these financial statements. A copy of the GB Europe Holdings Limited consolidated financial statements are available from GB Europe Holdings Limited, 8 Lloyd's Avenue, London, EC3N 3EL.