Registration number:
F W D Freight Services Limited
for the Year Ended 31 March 2025
F W D Freight Services Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
F W D Freight Services Limited
Company Information
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Directors |
Mr M D Jones Mr G G Kellett Mr J A Kellett |
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Registered office |
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Auditors |
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F W D Freight Services Limited
Strategic Report for the Year Ended 31 March 2025
The directors present their strategic report for the year ended 31 March 2025.
Principal activity
The principal activity of the company is freight forwarding.
Fair review of the business
Trading and general economic conditions have remained challenging throughout the year ended 31st March 2025. Despite these conditions the company has performed well over the course of the year. The directors are therefore satisfied with the results for the year.
Since the end of the end of the year, trading conditions have remained challenging within the sector and the company’s focus has been devoted to improved efficiencies and cost management, combined with business development initiatives.
The company's key financial and other performance indicators during the year were as follows:
|
Financial KPIs |
Unit |
2025 |
2024 |
|
Turnover |
£ |
10,844,756 |
8,421,942 |
|
Turnover growth/(reduction) |
% |
29 |
31 |
|
Gross profit margin |
% |
18 |
20 |
|
Profit before tax |
£ |
729,923 |
279,218 |
Principal risks and uncertainties
The directors of the company manage the company’s risk significantly in conjunction with the management of fuel consumption, drivers’ wages and subcontractors’ costs.
The fuel cost fluctuation is an industry-wide factor caused by oil prices and government fuel tariffs. The company closely monitors fuel prices and strives to make price conscious fuel purchase policies where possible, and keeps vehicles well maintained to ensure maximum efficiency.
Due to the mobility of the driver market we seek to maintain driver/subcontractor satisfaction and training, which benefits all parties.
The company’s operations are exposed to a variety of financial risks that include the effects of changes to customer credit risk, supply chain risk and trading seasonality. The company has in place a risk management programme that seeks to limit the adverse effects on the financial performance of the company.
Approved and authorised by the
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......................................... |
F W D Freight Services Limited
Directors' Report for the Year Ended 31 March 2025
The directors present their report and the financial statements for the year ended 31 March 2025.
Directors of the company
The directors who held office during the year were as follows:
Financial instruments
Price risk, credit risk, liquidity risk and cash flow risk
As required by schedule 7.6(1)(a) and 7.6(1)(b) of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 the following information required to be disclosed in the directors report has been disclosed in the Strategic Report on page 2:
• an indication of the financial risk management objectives and policies;
• an indication of the different risks the company is exposed to.
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Approved and authorised by the
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......................................... |
F W D Freight Services Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
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• |
select suitable accounting policies and apply them consistently; |
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• |
make judgements and accounting estimates that are reasonable and prudent; |
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• |
state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
F W D Freight Services Limited
Independent Auditor's Report to the Members of F W D Freight Services Limited
Opinion
We have audited the financial statements of F W D Freight Services Limited (the 'company') for the year ended 31 March 2025, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
F W D Freight Services Limited
Independent Auditor's Report to the Members of F W D Freight Services Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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• |
the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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• |
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities [set out on page 4], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
F W D Freight Services Limited
Independent Auditor's Report to the Members of F W D Freight Services Limited
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our respnsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, through discussion with the director and other management (as required by auditing standards), and from inspection of the company's regulatory and legal correspondence and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.
The potential effect of these laws and regulations on the financial statements varies considerably.
Firstly, the company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation), distributable profits legislation, taxation legislation and pension legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statements items.
Secondly, the company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: anti-bribery and certain aspects of company legislation recognising the financial nature of the company's activities. Auditing standards, limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. Through these procedures we are not aware of actual or suspected non-compliance and this did not affect our procedures on the related financial statement items.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
F W D Freight Services Limited
Independent Auditor's Report to the Members of F W D Freight Services Limited
......................................
For and on behalf of
St James House
St James's Row
Burnley
Lancashire
BB11 1DR
F W D Freight Services Limited
Profit and Loss Account for the Year Ended 31 March 2025
|
Note |
2025 |
2024 |
|
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Turnover |
|
|
|
|
Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
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Administrative expenses |
( |
( |
|
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Other operating income |
- |
|
|
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Operating profit |
798,145 |
334,226 |
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Interest payable and similar expenses |
( |
( |
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Profit before tax |
|
|
|
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Tax on profit |
( |
( |
|
|
Profit for the financial year |
|
|
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
F W D Freight Services Limited
(Registration number: 02069829)
Balance Sheet as at 31 March 2025
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Note |
2025 |
2024 |
|
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Fixed assets |
|||
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Tangible assets |
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Current assets |
|||
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Debtors |
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Cash at bank and in hand |
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|
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||
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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|
|
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
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|
|
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Net assets |
|
|
|
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Capital and reserves |
|||
|
Called up share capital |
2,000 |
2,000 |
|
|
Retained earnings |
5,556,968 |
4,834,714 |
|
|
Shareholders' funds |
5,558,968 |
4,836,714 |
Approved and authorised by the
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......................................... |
F W D Freight Services Limited
Statement of Changes in Equity for the Year Ended 31 March 2025
|
Share capital |
Retained earnings |
Total |
|
|
At 1 April 2024 |
|
|
|
|
Profit for the year |
- |
|
|
|
At 31 March 2025 |
|
|
|
|
Share capital |
Retained earnings |
Total |
|
|
At 1 April 2023 |
|
|
|
|
Profit for the year |
- |
|
|
|
At 31 March 2024 |
2,000 |
4,834,714 |
4,836,714 |
F W D Freight Services Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Summary of disclosure exemptions
The company is exempt under paragraph 1.12 of FRS 102 from the requirement to prepare a statement of cash flows as it is a member of a group where the parent of the group prepares publicly available consolidated financial statements and the company is included in the consolidation..
F W D Freight Services Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Judgements
Estimates and judgements are cintinually evaluated and are based on historical experience and other factors, including expectations of future events that are beleieved to be reasonable under the circumstances. The directors have established that there are no areas of judgement which are deemed critcal to the company's financial statements. |
Key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:
Bad debt provision - The company reviews the recoverability of all debtors at the balance sheet date and makes a percentage provision of recoverability based on events that have occurred by that date..
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
F W D Freight Services Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Fixtures and fittings |
20% per annum reducing balance basis |
|
Computer equipment |
100% straight line basis |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
F W D Freight Services Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
|
Turnover |
The analysis of the company's revenue for the year from continuing operations is as follows:
|
2025 |
2024 |
|
|
Sale of goods |
|
8,421,942 |
|
Other operating income |
The analysis of the company's other operating income for the year is as follows:
|
2025 |
2024 |
|
|
Miscellaneous other operating income |
- |
13,033 |
F W D Freight Services Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Operating profit |
Arrived at after charging/(crediting)
|
2025 |
2024 |
|
|
Depreciation expense |
|
876 |
|
Operating lease expense - plant and machinery |
|
798 |
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Interest on bank overdrafts and borrowings |
25,200 |
30,356 |
|
Interest expense on other finance liabilities |
5,339 |
5,352 |
|
Foreign exchange gains/losses |
(7,920) |
(12,491) |
|
Other finance costs |
45,603 |
31,791 |
|
68,222 |
55,008 |
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
675,043 |
|
Social security costs |
|
66,210 |
|
Pension costs, defined contribution scheme |
24,988 |
23,816 |
|
Other employee expense |
|
3,137 |
|
760,391 |
768,206 |
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Administration and support |
|
|
|
|
|
|
Auditors' remuneration |
|
2025 |
2024 |
|
|
Other fees to auditors |
||
|
Audit-related assurance services |
|
|
F W D Freight Services Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Taxation |
Tax charged/(credited) in the income statement
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
|
69,583 |
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
( |
221 |
|
Tax expense in the income statement |
|
69,804 |
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2024 - the same as the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
2024 |
|
|
Profit before tax |
729,923 |
279,218 |
|
Corporation tax at standard rate |
182,481 |
69,805 |
|
Deferred tax expense (credit) relating to changes in tax rates or laws |
|
(1) |
|
Tax increase (decrease) arising from group relief |
( |
- |
|
Total tax charge |
|
69,804 |
Deferred tax
F W D Freight Services Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Tangible assets |
|
Furniture, fittings and equipment |
Other tangible assets |
Total |
|
|
Cost or valuation |
|||
|
At 1 April 2024 |
|
|
|
|
Additions |
- |
|
|
|
At 31 March 2025 |
|
|
|
|
Depreciation |
|||
|
At 1 April 2024 |
|
|
|
|
Charge for the year |
|
|
|
|
At 31 March 2025 |
|
|
|
|
Carrying amount |
|||
|
At 31 March 2025 |
|
- |
|
|
At 31 March 2024 |
|
- |
|
|
Debtors |
|
Current |
Note |
2025 |
2024 |
|
Trade debtors |
|
|
|
|
Amounts owed by related parties |
|
|
|
|
Other debtors |
|
|
|
|
Prepayments |
|
|
|
|
|
|
F W D Freight Services Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Creditors |
|
Note |
2025 |
2024 |
|
|
Due within one year |
|||
|
Loans and borrowings |
902,812 |
778,413 |
|
|
Trade creditors |
673,118 |
522,416 |
|
|
Amounts due to related parties |
3,331,253 |
2,057,230 |
|
|
Social security and other taxes |
14,944 |
13,894 |
|
|
Other payables |
9,363 |
8,447 |
|
|
Accrued expenses |
31,680 |
27,612 |
|
|
Income tax liability |
81,980 |
85,703 |
|
|
5,045,150 |
3,493,715 |
||
|
Due after one year |
|||
|
Loans and borrowings |
|
262,426 |
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
2,000 |
|
2,000 |
F W D Freight Services Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Loans and borrowings |
|
2025 |
2024 |
|
|
Non-current loans and borrowings |
||
|
Bank borrowings |
|
262,426 |
|
2025 |
2024 |
|
|
Current loans and borrowings |
||
|
Bank borrowings |
|
98,241 |
|
Other borrowings |
807,663 |
680,172 |
|
902,812 |
778,413 |
|
There is a fixed and floating charge on the company's assets given to National Westminster Bank Plc and RBS Invoice Finance Limited in respect of any bank loans and overdrafts and factor advances owed by the company.
|
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
- |
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
|
Related party transactions |
The company has taken advantage of the exemption in FRS 102 from the requirement to disclose transactions with wholly owned group companies on the grounds that consolidated financial statements are prepared by the parent company.
The company has provided a guarantee to the bankers of EFS Global Limited in respect of any bank loans and overdrafts and factor advances owed by EFS Global Limited and its subsidiaries.
F W D Freight Services Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The most senior parent entity producing publicly available financial statements is
Phoenix Way
Burnley
Lancashire
BB11 5SX
The ultimate controlling party is