Registered number
02877078
Airfreight Worldwide Limited
Filleted Accounts
31 December 2024
Airfreight Worldwide Limited
Registered number: 02877078
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 238,804 241,980
Current assets
Debtors 4 686,156 682,272
Cash at bank and in hand 23,550 130,536
709,706 812,808
Creditors: amounts falling due within one year 5 (320,028) (353,727)
Net current assets 389,678 459,081
Total assets less current liabilities 628,482 701,061
Creditors: amounts falling due after more than one year 6 (3,068) (24,365)
Net assets 625,414 676,696
Capital and reserves
Called up share capital 12,500 12,500
Profit and loss account 612,914 664,196
Shareholders' funds 625,414 676,696
The director is 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 director acknowledges his 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.
S R Wetton
Director
Approved by the board on 13 June 2025
Airfreight Worldwide Limited
Notes to the Accounts
for the year ended 31 December 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 including the recharge of duty and VAT.
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 at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment over 3 years
Fixtures and fittings over 4 years
Motor vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 13 13
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 224,358 38,575 99,095 362,028
Additions - 628 9,600 10,228
Disposals - - (63,445) (63,445)
At 31 December 2024 224,358 39,203 45,250 308,811
Depreciation
At 1 January 2024 - 35,502 84,546 120,048
Charge for the year - 1,510 4,970 6,480
On disposals - - (56,521) (56,521)
At 31 December 2024 - 37,012 32,995 70,007
Net book value
At 31 December 2024 224,358 2,191 12,255 238,804
At 31 December 2023 224,358 3,073 14,549 241,980
4 Debtors 2024 2023
£ £
Trade debtors 335,772 386,574
Director's account on which S455 charged 213,560 213,560
S455 paid 67,490 67,490
Other debtors 69,334 14,648
686,156 682,272
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,648 -
Trade creditors 245,367 292,460
Taxation and social security costs (2,225) (5,244)
Director's account - 374
Other creditors 66,238 66,137
320,028 353,727
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 3,068 24,365
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr S R Wetton
Amount on which S455 charged 213,560 - - 213,560
Director's loan - 57,126 (57,500) (374)
213,560 57,126 (57,500) 213,186
8 Related party transactions
Mr S R Wetton rents a residential property from Airfreight Worldwide Limited. During the year he paid rent of £5,400 to the company.
9 Controlling party
The company was under the control of Mr S R Wetton throughout the current year. Mr Wetton is the director and majority shareholder.
10 Other information
Airfreight Worldwide Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit H Flaxley Parkway
Stechford Retail Park
Birmingham
B33 9AN
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