Sheffield International Freight Terminal Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01224403

Sheffield International Freight Terminal Limited

Filleted Unaudited Financial Statements

31 December 2024

Sheffield International Freight Terminal Limited

Financial Statements

Year ended 31 December 2024

Contents	Pages

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2 to 3

Notes to the financial statements	4 to 7

Sheffield International Freight Terminal Limited

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Sheffield International Freight Terminal Limited

Year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sheffield International Freight Terminal Limited for the year ended 31 December 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Sheffield International Freight Terminal Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Sheffield International Freight Terminal Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sheffield International Freight Terminal Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Sheffield International Freight Terminal Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sheffield International Freight Terminal Limited. You consider that Sheffield International Freight Terminal Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Sheffield International Freight Terminal Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

HEBBLETHWAITES Chartered Accountants

2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ

29 September 2025

Sheffield International Freight Terminal Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	4,068	7,120
Investments	6	33	33
		-------	-------
		4,101	7,153

Current assets

Debtors	7	432,692	414,006
Cash at bank and in hand		182,272	182,471
		---------	---------
		614,964	596,477

Creditors: amounts falling due within one year	8	85,032	83,716
		---------	---------
Net current assets		529,932	512,761
		---------	---------
Total assets less current liabilities		534,033	519,914

Creditors: amounts falling due after more than one year	9	4,951	14,951

Provisions

Taxation including deferred tax	1,017	1,780
	---------	---------
Net assets	528,065	503,183
	---------	---------

Sheffield International Freight Terminal Limited

Statement of Financial Position (continued)

31 December 2024

	2024	2023
Note	£	£

Capital and reserves

Called up share capital	100	100
Profit and loss account	527,965	503,083
	---------	---------
Shareholders funds	528,065	503,183
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 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 financial statements for the year in question in accordance with section 476 ;

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

These financial statements were approved by the board of directors and authorised for issue on 29 September 2025 , and are signed on behalf of the board by:

Mr T J Atkinson

Director

Company registration number: 01224403

Sheffield International Freight Terminal Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is c/o Hebblethwaites, 2 Westbrook Court, Sharrow Vale Road, Sheffield, S11 8YZ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the opinion of management, there are no areas of judgement or key sources of estimation uncertainty that have a significant effect on the financial statements, other than those highlighted below.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings	-	33% straight line
Plant & Machinery	-	33% straight line
Office Equipment	-	33% straight line

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2023: 2 ).

5. Tangible assets

	Fixtures and fittings	Plant & Machinery	Equipment	Total
	£	£	£	£
Cost
At 1 January 2024 and 31 December 2024	41,638	14,830	3,621	60,089
	--------	--------	-------	--------
Depreciation
At 1 January 2024	34,518	14,830	3,621	52,969
Charge for the year	3,052	–	–	3,052
	--------	--------	-------	--------
At 31 December 2024	37,570	14,830	3,621	56,021
	--------	--------	-------	--------
Carrying amount
At 31 December 2024	4,068	–	–	4,068
	--------	--------	-------	--------
At 31 December 2023	7,120	–	–	7,120
	--------	--------	-------	--------

6. Investments

	Shares in participating interests
	£
Cost
At 1 January 2024 and 31 December 2024	33
	----
Impairment
At 1 January 2024 and 31 December 2024	–
	----

Carrying amount
At 31 December 2024	33
	----
At 31 December 2023	33
	----

Fixed asset investments are held at cost.

7. Debtors

	2024	2023
	£	£
Trade debtors	57,281	35,077
Other debtors	375,411	378,929
	---------	---------
	432,692	414,006
	---------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	10,000	10,000
Trade creditors	11,364	10,835
Corporation tax	7,297	15,779
Social security and other taxes	5,081	152
Other creditors	51,290	46,950
	--------	--------
	85,032	83,716
	--------	--------

The above bounce back loan is a government backed scheme, the loan is unsecured, accruing interest at 2.5%.

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	4,951	14,951
	-------	--------

The above bounce back loan is a government backed scheme, the loan is unsecured, accruing interest at 2.5%.

10. Related party transactions

Included within debtors at the year end date are loan amounts owed to Sheffield International Freight Terminal Limited by the parent company, in the sum of £331,000 (2023: £331,000). The loan is not subject to any formal repayment terms and neither is any interest chargeable. Included within debtors at the year end date are loan amounts owed to Sheffield International Freight Terminal Limited by a related company, in the sum of £25,000 (2023: £25,000). The companies are connected by virtue of being under common control. The loan is not subject to any formal repayment terms and neither is any interest chargeable.

11. Controlling party

The ultimate parent undertaking of this company is Five One Two Limited, a company registered in England and Wales. The registered office address of the parent company is Willow Lodge, Doncaster Road, Oldcotes, Worksop, S81 8HT. The group structure headed by Five One Two Limited qualifies as a small group, and therefore the parent company is not required to prepare consolidated financial statements.