REGISTERED NUMBER: 01465323 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CRANLEIGH FREIGHT SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G R Young

B Smets

REGISTERED OFFICE:

Building 120 Stovolds Hill

Cranleigh

Surrey

GU6 8TB

REGISTERED NUMBER:

01465323 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

2nd Floor

Medway Bridge House

1-8 Fairmeadow

Maidstone

Kent

ME14 1JP

FIXED ASSETS

Tangible assets

4

1,709,773

1,948,504

CURRENT ASSETS

Stocks

3,630

3,521

Debtors

5

1,565,549

1,243,213

Cash at bank and in hand

381,697

327,214

1,950,876

1,573,948

CREDITORS

Amounts falling due within one year

6

985,123

1,003,491

NET CURRENT ASSETS

965,753

570,457

TOTAL ASSETS LESS CURRENT LIABILITIES

2,675,526

2,518,961

CREDITORS

Amounts falling due after more than one year

7

(712,342

)

(888,556

)

PROVISIONS FOR LIABILITIES

(297,082

)

(208,340

)

NET ASSETS

1,666,102

1,422,065

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

1,665,102

1,421,065

1,666,102

1,422,065

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

G R Young - Director

1.	STATUTORY INFORMATION

Cranleigh 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.

Going concern

The company continued with its positive trading during 2024, providing its professional, well presented, and reliable services to the events, motorsport, automotive and airfreight industries.

The company has use of an invoice discounting facility provided by RBS / Nat West and the Directors see no reason to believe that this facility would be terminated during 12 months following the date of approval of these financial statements and considers the facility to be adequate for its requirements.

There are no material uncertainties and coupled with the current trading prospects, the Directors consider that the company will be a going concern for a period of at least 12 months from the date of approval of these financial statements, and have therefore prepared the financial statement on a going concern basis.

Turnover

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

Turnover is recognised when services are delivered.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Long leasehold

-

over the life of the lease

Plant and machinery

-

20% on cost

Motor vehicles

-

20% on cost

Office equipment

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets, other than investments and derivatives, are initially measured at transaction price (including transaction costs) and subsequently held at cost, less any impairment.

Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form. Financial liabilities, excluding convertible debt and derivatives, are initially measured at transaction price (including transaction costs) and subsequently held at amortised cost.

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.

Foreign currencies

Foreign currency translations are translated into sterling at the rates ruling when they occurred. Foreign currency monetary assets and liabilities are translated at the rates ruling at the reporting dates. Any differences are taken to the statement of comprehensive income.

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.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with no significant risk of change in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 36 ) .

4.	TANGIBLE FIXED ASSETS

Long

Plant and

Motor

Office

leasehold

machinery

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1 January 2024

23,969

297,526

3,780,890

261,437

4,363,822

Additions

-

39,249

312,465

3,488

355,202

Disposals

-

-

(477,794

)

-

(477,794

)

At 31 December 2024

23,969

336,775

3,615,561

264,925

4,241,230

Depreciation

At 1 January 2024

15,971

287,463

1,859,256

252,628

2,415,318

Charge for year

4,799

7,815

529,952

5,131

547,697

Eliminated on disposal

-

-

(431,558

)

-

(431,558

)

At 31 December 2024

20,770

295,278

1,957,650

257,759

2,531,457

Net book value

At 31 December 2024

3,199

41,497

1,657,911

7,166

1,709,773

At 31 December 2023

7,998

10,063

1,921,634

8,809

1,948,504

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

752,706

835,848

Other debtors

812,843

407,365

1,565,549

1,243,213

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

15,670

10,128

Hire purchase contracts (see note 8)

395,416

402,177

Trade creditors

298,365

379,148

Taxation and social security

47,480

43,890

Other creditors

228,192

168,148

985,123

1,003,491

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

-

15,670

Hire purchase contracts (see note 8)

712,342

872,886

712,342

888,556

The company has an existing £15,670 Bounce Back Loan as part of the Covid-19 government support to businesses during the pandemic. Interest is payable on the loan at 2.5% per annum over 6 years. The interest payable for the first 12 months is paid by the government. The loan is due to be repaid in 60 monthly instalments commencing 12 months from drawdown date. The loan is secured by a government backed guarantee. The loan was repaid in full in March 2025 and as a result has been included in creditors due within one year.

8.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Net obligations repayable:

Within one year

395,416

402,177

Between one and five years

712,342

872,886

1,107,758

1,275,063

The company had future minimum lease payments under non-cancellable leases as set out below:

2024

2023

£

£

Land and buildings

In one year or less

125,138

214,522

In more than one year, but not more than five years

-

125,138

125,138

339,660

Other

In one year or less

-

1,668

In more than one year, but not more than five years

-

-

-

1,668

Liabilities in relation to lease agreements are secured against the underlying assets.

9.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions totalling £5,888 (2023: £5,781) were payable to the fund at the reporting date and are included in creditors.

10.	RELATED PARTY DISCLOSURES

At the balance sheet date, the directors owed the company £196,652 (2023: company owed its directors £81,958) which has been included in debtors (2023: creditors) due within one year. No interest has been charged on the amount, and the amount was repaid within nine months of the year end.

11.

CHARGES

The company has existing charges held against it registered at Companies House. These include fixed and floating charges held against property owned by the company.