REGISTERED NUMBER: 01334073 (England and Wales)

Financial Statements

for the Year Ended 31 March 2025

for

HERBERT WATSON FREIGHT

SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

G Parkinson

W Mather

Secretary:

C Gembalczyk

Registered office:

Northern Assurance Buildings

9-21 Princess Street

Manchester

Greater Manchester

M2 4DN

Registered number:

01334073 (England and Wales)

Auditors:

S&W Audit

Northern Assurance Buildings

9-21 Princess Street

Manchester

M2 4DN

Fixed assets

Tangible assets

5

8,456

11,365

Current assets

Debtors

6

1,648,381

341,232

Cash at bank

3,669,916

4,836,918

5,318,297

5,178,150

Creditors

Amounts falling due within one year

7

850,086

715,228

Net current assets

4,468,211

4,462,922

Total assets less current liabilities

4,476,667

4,474,287

Capital and reserves

Called up share capital

8

100,000

100,000

Retained earnings

4,376,667

4,374,287

Shareholders' funds

4,476,667

4,474,287

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

G Parkinson - Director

1.	Statutory information

Herbert Watson 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.

The company's trading address is Mirwell House, Carrington Lane, Sale, Manchester M33 5NL.

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.

Significant judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future event that are believed to be reasonable under the circumstances.

(a) There are not considered to be any critical judgements in applying the company's accounting policies.

(b) The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The only estimate and assumption which has a significant risk of causing a material adjustment to the carrying amounts of assets or liabilities within the next financial year is the job estimate accrual. This is based on management's best estimate of the future costs relating to jobs completed pre year end.

(i) Bad debt provision

When assessing the recoverability of a business loan made the company will first assess the debtors ability to repay the loan in cash. A bad debt provision is then made to write down the loan to the estimated recoverable amount.

Turnover

The company acts as an agent for the arrangement of freight forwarding services for third parties. Its turnover represents commissions and fees receivable net of introductory fees, discounts and VAT.

Tangible fixed assets

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

Fixtures and fittings

-

Straight line over 6 years

Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price and costs directly attributable to bringing the asset to its working condition for its intended use.

Financial instruments

The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other debtors, and bank balances, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors that are classified as debt, 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.

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Other income

Other income relates to management charges receivable, rents receivable and bank interest receivable. They are recognised on the accruals basis.

Bank interest receivable relates to interest gained on business reserve bank accounts, charged at floating interest rates.

4.	Employees and directors

The average number of employees during the year was 8 (2024 - 8 ) .

5.	Tangible fixed assets

Plant and

machinery

etc

£

Cost

At 1 April 2024

and 31 March 2025

18,233

Depreciation

At 1 April 2024

6,868

Charge for year

2,909

At 31 March 2025

9,777

Net book value

At 31 March 2025

8,456

At 31 March 2024

11,365

6.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

462,392

293,430

Other debtors

1,185,989

47,802

1,648,381

341,232

7.

Creditors: amounts falling due within one year

2025

2024

£

£

Trade creditors

389,342

315,803

Taxation and social security

2,377

137

Other creditors

458,367

399,288

850,086

715,228

8.	Called up share capital

Allotted and issued:

Number:

Class:

Nominal

2025

2024

value:

£

£

100,000

Ordinary

£1

100,000

100,000

9.	Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Angela Chorlton FCA (Senior Statutory Auditor)

for and on behalf of S&W Audit

10.	Contingent liabilities

At 31 March 2025 there were contingent liabilities in respect of guarantees covering customs duties. The amount guaranteed is £578,400 (2024 - £578,400).