| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 May 2025 |
| for |
| Freeland Freight Service Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 May 2025 |
| for |
| Freeland Freight Service Limited |
| Freeland Freight Service Limited (Registered number: SC059952) |
| Contents of the Financial Statements |
| for the Year Ended 31 May 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Freeland Freight Service Limited |
| Company Information |
| for the Year Ended 31 May 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Accountants |
| 42 Queens Road |
| Aberdeen |
| AB15 4YE |
| Freeland Freight Service Limited (Registered number: SC059952) |
| Balance Sheet |
| 31 May 2025 |
| 31.5.25 | 31.5.24 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Freeland Freight Service Limited (Registered number: SC059952) |
| Balance Sheet - continued |
| 31 May 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Freeland Freight Service Limited (Registered number: SC059952) |
| Notes to the Financial Statements |
| for the Year Ended 31 May 2025 |
| 1. | STATUTORY INFORMATION |
| Freeland Freight Service Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents amounts receivable for services provided in the normal course of business, net of discounts and VAT. Revenue is recognised to the extent that it is probable that economic benefit will flow to the company and when its value can be measured with a sufficient degree of certainty and reliability. All income is recognised in the accounting period to which it relates. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stock comprises fuel for the operational vehicles and spare parts for vehicle repairs. All stock is valued at the lower of cost or potential realisable value after making due allowance for obsolete items. |
| 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 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. |
| Freeland Freight Service Limited (Registered number: SC059952) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2025 |
| 2. | 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. |
| 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. |
| Accrual of employee benefits |
| The company fully provides for the expected cost of employee benefits, such as accrued holiday pay, as required by FRS 102 and the sums so accrued are included within the short term accruals in the company balance sheet. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Plant and | and |
| property | machinery | fittings |
| £ | £ | £ |
| COST |
| At 1 June 2024 |
| Additions |
| Disposals |
| At 31 May 2025 |
| DEPRECIATION |
| At 1 June 2024 |
| Charge for year |
| Eliminated on disposal |
| At 31 May 2025 |
| NET BOOK VALUE |
| At 31 May 2025 |
| At 31 May 2024 |
| Freeland Freight Service Limited (Registered number: SC059952) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2025 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 June 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 May 2025 |
| DEPRECIATION |
| At 1 June 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 May 2025 |
| NET BOOK VALUE |
| At 31 May 2025 |
| At 31 May 2024 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 June 2024 |
| Additions |
| Transfer to ownership | - | (538,300 | ) | (538,300 | ) |
| At 31 May 2025 |
| DEPRECIATION |
| At 1 June 2024 |
| Charge for year |
| Transfer to ownership | - | (265,307 | ) | (265,307 | ) |
| At 31 May 2025 |
| NET BOOK VALUE |
| At 31 May 2025 |
| At 31 May 2024 |
| Freeland Freight Service Limited (Registered number: SC059952) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2025 |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST OR VALUATION |
| At 1 June 2024 |
| Impairments | ( |
) |
| At 31 May 2025 |
| NET BOOK VALUE |
| At 31 May 2025 |
| At 31 May 2024 |
| Cost or valuation at 31 May 2025 is represented by: |
| Other |
| investments |
| £ |
| Valuation in 2016 | (2,281 | ) |
| Valuation in 2017 | 153 |
| Valuation in 2020 | (100 | ) |
| Valuation in 2022 | 52 |
| Valuation in 2023 | 21 |
| Valuation in 2024 | 22 |
| Valuation in 2025 | (7 | ) |
| Cost | 5,550 |
| 3,410 |
| If the fixed asset investments had not been revalued they would have been included at the following historical cost: |
| 31.5.25 | 31.5.24 |
| £ | £ |
| Cost | 5,550 | 5,550 |
| Fixed asset investments were valued on an open market basis on 31 May 2025 by reference to the London Stock Exchange . |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.25 | 31.5.24 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Freeland Freight Service Limited (Registered number: SC059952) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2025 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.25 | 31.5.24 |
| £ | £ |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.5.25 | 31.5.24 |
| £ | £ |
| Hire purchase contracts (see note 9) |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase |
| contracts |
| 31.5.25 | 31.5.24 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable |
| operating leases |
| 31.5.25 | 31.5.24 |
| £ | £ |
| Within one year |
| Between one and five years |
| Property Lease |
| The property lease was renewed and extended in 2022 at an annual rental of £60,000 for a period of 10 years. The rent will be reviewed 1st October 2027. |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.5.25 | 31.5.24 |
| £ | £ |
| Hire purchase contracts | 1,614,077 | 1,645,992 |
| Freeland Freight Service Limited (Registered number: SC059952) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2025 |
| 11. | ULTIMATE CONTROLLING PARTY |
| The company is controlled and managed by the directors who between them own 71% of the issued share capital. |