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REGISTERED NUMBER: 09857938 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2024

for

Quickfreight Logistics Limited

Quickfreight Logistics Limited (Registered number: 09857938)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Quickfreight Logistics Limited

Company Information
for the Year Ended 30 November 2024







DIRECTOR: R Bryant





REGISTERED OFFICE: The Stables
Summer Road
Walsham Le Willows
Suffolk
IP31 3AJ





REGISTERED NUMBER: 09857938 (England and Wales)





ACCOUNTANTS: Mead Accounting Limited
Chartered Certified Accountants
The Stables
Summer Road
Walsham Le Willows
Suffolk
IP31 3AJ

Quickfreight Logistics Limited (Registered number: 09857938)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 524,972 343,035

CURRENT ASSETS
Debtors 6 933,260 944,793
Cash at bank 424,779 335,470
1,358,039 1,280,263
CREDITORS
Amounts falling due within one year 7 1,323,437 1,187,045
NET CURRENT ASSETS 34,602 93,218
TOTAL ASSETS LESS CURRENT LIABILITIES 559,574 436,253

CREDITORS
Amounts falling due after more than one year 8 (184,309 ) (81,512 )

PROVISIONS FOR LIABILITIES 11 (55,080 ) (49,251 )
NET ASSETS 320,185 305,490

CAPITAL AND RESERVES
Called up share capital 12 1,000 1,000
Retained earnings 319,185 304,490
SHAREHOLDERS' FUNDS 320,185 305,490

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Quickfreight Logistics Limited (Registered number: 09857938)

Balance Sheet - continued
30 November 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 August 2025 and were signed by:





R Bryant - Director


Quickfreight Logistics Limited (Registered number: 09857938)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Quickfreight Logistics 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
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.
Plant and machinery - 25% on reducing balance

Impairment
At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments (but excluding investment properties), are assessed to determine whether there is an indication that those assets have suffered an impairment loss. If any indication arises, the recoverable amount is estimated and compared to its carrying amount to determine if an impairment loss has arisen.
If the recoverable amount is lower, the carrying amount of the asset is written down to its recoverable amount and an impairment loss is recognised in profit and loss.
Recoverable amount of the asset is the higher of its value in use and its net realisable value.

Quickfreight Logistics Limited (Registered number: 09857938)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

3. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, and loans from financial institutions or other related parties.

Debts instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, ,are measured initially and subsequently at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between as asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Quickfreight Logistics Limited (Registered number: 09857938)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2023 576,246
Additions 309,567
Disposals (42,500 )
At 30 November 2024 843,313
DEPRECIATION
At 1 December 2023 233,211
Charge for year 109,890
Eliminated on disposal (24,760 )
At 30 November 2024 318,341
NET BOOK VALUE
At 30 November 2024 524,972
At 30 November 2023 343,035

Quickfreight Logistics Limited (Registered number: 09857938)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 December 2023 412,000
Additions 290,400
At 30 November 2024 702,400
DEPRECIATION
At 1 December 2023 144,203
Charge for year 88,587
At 30 November 2024 232,790
NET BOOK VALUE
At 30 November 2024 469,610
At 30 November 2023 267,797

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 905,283 904,199
Other debtors 27,977 40,594
933,260 944,793

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 9) 155,209 76,674
Trade creditors 979,580 906,710
Taxation and social security 47,819 59,877
Other creditors 130,829 133,784
1,323,437 1,187,045

Included in other creditors is a loan due to the director amounting to £116,483 (2023 - £128,283).

Quickfreight Logistics Limited (Registered number: 09857938)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans 1,829 15,000
Hire purchase contracts (see note 9) 182,480 66,512
184,309 81,512

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

30.11.24 30.11.23
£    £   
Net obligations repayable:
Within one year 155,209 76,674
Between one and five years 182,480 66,512
337,689 143,186

10. SECURED DEBTS

The following secured debts are included within creditors:

30.11.24 30.11.23
£    £   
Hire purchase contracts 337,689 143,186

The hire purchase agreements are secured on the assets held.

11. PROVISIONS FOR LIABILITIES
30.11.24 30.11.23
£    £   
Deferred tax
Tax losses carried forward (44,522 ) (15,925 )
Accelerated capital allowances 99,602 65,176
55,080 49,251

Deferred
tax
£   
Balance at 1 December 2023 49,251
Provided during year 5,829
Balance at 30 November 2024 55,080

Quickfreight Logistics Limited (Registered number: 09857938)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.24 30.11.23
value: £    £   
1,000 Ordinary £1 1,000 1,000

13. CAPITAL COMMITMENTS
30.11.24 30.11.23
£    £   
Contracted but not provided for in the
financial statements 120,284 -

As at the balance sheet date, the company had entered into an agreement to purchase a vehicle under hire purchase. This vehicle had not been received by 30 November 2024 and is therefore not included on the balance sheet in these financial statements.