Registration number:
1st Available Freight Limited
for the Year Ended 31 July 2025
1st Available Freight Limited
Contents
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
1st Available Freight Limited
Registration number: 03814402
Balance Sheet as at 31 July 2025
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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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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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The director's statements required by sections 475 (2) and (3) are shown on the following page which forms part of this Balance Sheet.
1st Available Freight Limited
Registration number: 03814402
Balance Sheet as at 31 July 2025 (continued)
For the financial year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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1st Available Freight Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
The principal place of business is:
Trafalgar Yard
Eurocentre
North River Road
Great Yarmouth
Norfolk
NR30 1TE
England
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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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
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.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
1st Available Freight Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025 (continued)
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Accounting policies (continued) |
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.
Government grants
Government grants in relation to expenditure are credited to the profit and loss account in the period in which the related expenditure is charged.
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 income 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.
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.
1st Available Freight Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025 (continued)
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Accounting policies (continued) |
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:
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Asset class |
Depreciation method and rate |
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Plant and machinery |
25% Reducing balance |
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Motor vehicles |
25% Reducing balance |
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Trailers |
25% Reducing balance |
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.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
1st Available Freight Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025 (continued)
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Accounting policies (continued) |
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.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Tangible assets |
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Trailers |
Motor vehicles |
Other property, plant and equipment |
Total |
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Cost or valuation |
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At 1 August 2024 |
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Additions |
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Disposals |
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At 31 July 2025 |
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Depreciation |
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At 1 August 2024 |
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Charge for the year |
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Eliminated on disposal |
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At 31 July 2025 |
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Carrying amount |
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At 31 July 2025 |
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At 31 July 2024 |
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1st Available Freight Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025 (continued)
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Debtors |
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Current |
2025 |
2024 |
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Trade debtors |
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Prepayments |
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Other debtors |
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The amounts owed at the year end in respect of the directors' loan accounts were £38,178 and are included in other debtors. It is company policy to charge interes of all overdrawn loan accounts at H M Revenue & Customs official rate of interest.
1st Available Freight Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025 (continued)
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Creditors |
Creditors: amounts falling due within one year
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Note |
2025 |
2024 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Directors loan accounts |
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Taxation and social security |
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Other creditors |
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Due after one year |
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Loans and borrowings |
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Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £145,938 (2024 - £106,166).
Current loans and borrowings
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2025 |
2024 |
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Bank borrowings |
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Bank overdrafts |
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HP and finance lease liabilities |
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Creditors: amounts falling due after more than one year
Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £255,176 (2024 - £222,182).
1st Available Freight Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025 (continued)
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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1 |
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1 |
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