Registered Number 03814402
1ST AVAILABLE FREIGHT LIMITED
Abbreviated Accounts
31 July 2014
Notes | 2014 | 2013 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (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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Total net assets (liabilities) |
( |
( |
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Capital and reserves | |||
Called up share capital | 3 |
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Profit and loss account |
( |
( |
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Shareholders' funds |
( |
( |
Approved by the Board on
And signed on their behalf by:
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
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
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.
£ | |
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Cost | |
At 1 August 2013 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 July 2014 |
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Depreciation | |
At 1 August 2013 |
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Charge for the year |
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On disposals |
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At 31 July 2014 |
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Net book values | |
At 31 July 2014 | 28,993 |
At 31 July 2013 | 2,889 |