Abbreviated Company Accounts - 1ST AVAILABLE FREIGHT LIMITED

Abbreviated Company Accounts - 1ST AVAILABLE FREIGHT LIMITED


Registered Number 03814402

1ST AVAILABLE FREIGHT LIMITED

Abbreviated Accounts

31 July 2014

1ST AVAILABLE FREIGHT LIMITED Registered Number 03814402

Abbreviated Balance Sheet as at 31 July 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 28,993 2,889
28,993 2,889
Current assets
Debtors 153,063 105,830
Cash at bank and in hand 3,303 368
156,366 106,198
Creditors: amounts falling due within one year (208,716) (195,943)
Net current assets (liabilities) (52,350) (89,745)
Total assets less current liabilities (23,357) (86,856)
Creditors: amounts falling due after more than one year (13,417) 0
Total net assets (liabilities) (36,774) (86,856)
Capital and reserves
Called up share capital 3 1 1
Profit and loss account (36,775) (86,857)
Shareholders' funds (36,774) (86,856)
  • For the year ending 31 July 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 16 April 2015

And signed on their behalf by:
S Lincoln, Director

1ST AVAILABLE FREIGHT LIMITED Registered Number 03814402

Notes to the Abbreviated Accounts for the period ended 31 July 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods and services falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Plant and machinery - 25% Reducing balance method
Fixtures, fittings
and equipment - 25% Reducing balance method
Motor vehicles - 25% Reducing balance method
Trailers - 25% Reducing balance method

Other accounting policies
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Deferred taxation
The charge for taxation is based on the results for the year and takes into account taxation deferred
because of timing differences between the treatment of certain items for taxation and accounting
purposes. In accordance with Financial Reporting Standard 19, provision is made for deferred tax in
respect of all timing differences that have been originated but not reversed by the balance sheet date.
Deferred tax assets are recognised when it is more likely than not that the asset will be recovered.
Deferred tax is measured using rates that have been enacted by the balance sheet date. Deferred tax balances are not discounted.

Going concern
The continuation of the company's activities is dependant on the continued support of it's director, Miss S Lincoln. The financial statements have been prepared on the going concern basis on the
understanding that her support will continue.

2Tangible fixed assets
£
Cost
At 1 August 2013 5,586
Additions 35,733
Disposals -
Revaluations -
Transfers -
At 31 July 2014 41,319
Depreciation
At 1 August 2013 2,697
Charge for the year 9,629
On disposals -
At 31 July 2014 12,326
Net book values
At 31 July 2014 28,993
At 31 July 2013 2,889
3Called Up Share Capital
Allotted, called up and fully paid:
2014
£
2013
£
1Ordinary shares of £1 each 1 1