REGISTERED NUMBER: 04457478 (England and Wales)

Audited Financial Statements

for the Year Ended 31 December 2024

for

Aztek International Freight Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

F Keenan

REGISTERED OFFICE:

Albion House

64 Vicar Lane

Bradford

West Yorkshire

BD1 5AH

REGISTERED NUMBER:

04457478 (England and Wales)

AUDITORS:

Stirk Lambert & Co

Chartered Accountants

Statutory Auditors

Russell Chambers

61a North Street

Keighley

West Yorkshire

BD21 3DS

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

17,700

40,398

17,700

40,398

CURRENT ASSETS

Work-in-progress

82,103

-

Debtors

7

2,377,411

2,102,010

Cash at bank and in hand

341,837

624,472

2,801,351

2,726,482

CREDITORS

Amounts falling due within one year

8

(2,087,399

)

(1,701,112

)

NET CURRENT ASSETS

713,952

1,025,370

TOTAL ASSETS LESS CURRENT LIABILITIES

731,652

1,065,768

PROVISIONS FOR LIABILITIES

10

-

(4,422

)

NET ASSETS

731,652

1,061,346

CAPITAL AND RESERVES

Called up share capital

2,700

2,700

Capital redemption reserve

1,000

1,000

Retained earnings

727,952

1,057,646

SHAREHOLDERS' FUNDS

731,652

1,061,346

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 September 2025 and were signed by:

F Keenan - Director

1.	STATUTORY INFORMATION

Aztek International Freight 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.	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 for services rendered, net of discounts and Value Added Tax.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life which the directors consider to be 20 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33% on cost

Fixtures and fittings

-

20% on cost

Government grants

Government grants are recognised using the performance model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grantdoes impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing work-in-progress to their present location and condition.

Financial instruments

Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss and any subsequent reversal is recognised in the profit and loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled. or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables and bank loans, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

400,000

AMORTISATION

At 1 January 2024

and 31 December 2024

400,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

6.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 January 2024

117,024

34,810

151,834

Additions

-

800

800

At 31 December 2024

117,024

35,610

152,634

DEPRECIATION

At 1 January 2024

83,315

28,121

111,436

Charge for year

20,052

3,446

23,498

At 31 December 2024

103,367

31,567

134,934

NET BOOK VALUE

At 31 December 2024

13,657

4,043

17,700

At 31 December 2023

33,709

6,689

40,398

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

2,275,940

1,980,955

Other debtors

9,064

1,752

Tax

43,890

47,354

VAT

41,079

66,398

Prepayments

7,438

5,551

2,377,411

2,102,010

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

1,693,932

689,462

Social security and other taxes

54,977

301,815

Other creditors

3,208

10,213

Accrued expenses

335,282

699,622

2,087,399

1,701,112

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

16,286

21,206

Between one and five years

6,349

30,693

22,635

51,899

10.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Deferred tax

-

4,422

Deferred

tax

£

Balance at 1 January 2024

4,422

Provided during year

(4,422

)

Balance at 31 December 2024

-

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Steve McGevor (Senior Statutory Auditor)

for and on behalf of Stirk Lambert & Co

12.	CONTINGENT LIABILITIES

Bank of Scotland have issued a H M Revenue and Customs Duty Deferment Guarantee on behalf of the company, up to a maximum liability of £114,000, and the company has given the bank a counter indemnity which indemnifies the bank against any claim under the guarantee.

13.	ULTIMATE CONTROLLING PARTY

The immediate parent company is Cargo-Partner Overland B.V., a company incorporated in the Netherlands. The companies address is Ada Byronweg 17,NL-6045 GM Roermond, Roermond 6720.

The ultimate controlling parent company is Nippon Express Holdings, INC. A company incorporated in Tokyo Japan. The companies address is Kanda-Izumicho 2 Chiyoda-Ku, Tokyo, Japan.

The beneficial owner is Nippon Express Holdings, INC a public limited company.