Freightmaster Limited 04178622 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is Freight transport by road Digita Accounts Production Advanced 6.30.9574.0 true 04178622 2024-04-01 2025-03-31 04178622 2025-03-31 04178622 bus:OrdinaryShareClass1 2025-03-31 04178622 core:RetainedEarningsAccumulatedLosses 2025-03-31 04178622 core:ShareCapital 2025-03-31 04178622 core:FinancialAssetsCostLessImpairment core:CurrentFinancialInstruments 2025-03-31 04178622 core:CurrentFinancialInstruments 2025-03-31 04178622 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 04178622 core:FurnitureFittingsToolsEquipment 2025-03-31 04178622 bus:SmallEntities 2024-04-01 2025-03-31 04178622 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 04178622 bus:FilletedAccounts 2024-04-01 2025-03-31 04178622 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 04178622 bus:RegisteredOffice 2024-04-01 2025-03-31 04178622 bus:Director3 2024-04-01 2025-03-31 04178622 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 04178622 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 04178622 core:FurnitureFittingsToolsEquipment 2024-04-01 2025-03-31 04178622 core:PlantMachinery 2024-04-01 2025-03-31 04178622 core:Vehicles 2024-04-01 2025-03-31 04178622 countries:England 2024-04-01 2025-03-31 04178622 2024-03-31 04178622 core:FurnitureFittingsToolsEquipment 2024-03-31 04178622 2023-04-01 2024-03-31 04178622 2024-03-31 04178622 bus:OrdinaryShareClass1 2024-03-31 04178622 core:RetainedEarningsAccumulatedLosses 2024-03-31 04178622 core:ShareCapital 2024-03-31 04178622 core:FinancialAssetsCostLessImpairment core:CurrentFinancialInstruments 2024-03-31 04178622 core:CurrentFinancialInstruments 2024-03-31 04178622 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 04178622 core:FurnitureFittingsToolsEquipment 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04178622

Freightmaster Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 March 2025

 

Freightmaster Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Freightmaster Limited

(Registration number: 04178622)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

63,403

76,424

Current assets

 

Stocks

2,840

2,840

Debtors

6

719,138

1,368,479

Other financial assets

5

-

50,000

Cash at bank and in hand

 

13,595

163,476

 

735,573

1,584,795

Creditors: Amounts falling due within one year

7

(499,701)

(553,390)

Net current assets

 

235,872

1,031,405

Total assets less current liabilities

 

299,275

1,107,829

Provisions for liabilities

(15,851)

(21,425)

Net assets

 

283,424

1,086,404

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

283,324

1,086,304

Shareholders' funds

 

283,424

1,086,404

For the financial year ending 31 March 2025 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 August 2025 and signed on its behalf by:
 


Mr Mark Richard Burton
Director

   
 

Freightmaster Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Station Yard
Station Road
Kirton Lindsey
Gainsborough
Lincolnshire
DN21 4BD

Registration number: 04178622

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Freightmaster Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance

Motor vehicles

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Freightmaster Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 15 (2024 - 15).

 

Freightmaster Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2024

408,477

408,477

Additions

2,265

2,265

At 31 March 2025

410,742

410,742

Depreciation

At 1 April 2024

332,053

332,053

Charge for the year

15,286

15,286

At 31 March 2025

347,339

347,339

Carrying amount

At 31 March 2025

63,403

63,403

At 31 March 2024

76,424

76,424

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Current financial assets

Cost or valuation

At 1 April 2024

50,000

50,000

Disposals

(50,000)

(50,000)

At 31 March 2025

-

-

Carrying amount

At 31 March 2025

-

-

At 31 March 2024

50,000

50,000

 

Freightmaster Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Debtors

Current

Note

2025
£

2024
£

Trade debtors

 

709,181

737,811

Amounts owed by related parties

3,679

623,926

Prepayments

 

4,643

4,264

Other debtors

 

1,635

2,478

   

719,138

1,368,479

7

Creditors

Note

2025
£

2024
£

Due within one year

 

Trade payables

 

382,994

400,991

Amounts due to related parties

-

498

Social security and other taxes

 

98,133

99,579

Other payables

 

18,574

52,322

 

499,701

553,390

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100