Andyfreight Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04803928 (England and Wales)

ANDYFREIGHT HOLDINGS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2018

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Mr A.D. Pountney

SECRETARY:

Mrs M.K. Pountney

REGISTERED OFFICE:

Andyfreight Business Park

Folkes Road

Lye

Stourbridge

West Midlands

DY9 8RB

REGISTERED NUMBER:

04803928 (England and Wales)

AUDITORS:

Folkes Worton LLP

Chartered Accountants and Statutory Auditor

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

BANKERS:

Lloyds Bank plc

134 High Street

Stourbridge

West Midlands

DY8 1DS

FIXED ASSETS

Tangible assets

4

2,018,850

2,055,910

Investments

5

100

100

2,018,950

2,056,010

CURRENT ASSETS

Debtors

6

273,752

259,694

Investments

7

15,479

11,957

Cash at bank

148,890

62,899

438,121

334,550

CREDITORS

Amounts falling due within one year

8

294,872

254,829

NET CURRENT ASSETS

143,249

79,721

TOTAL ASSETS LESS CURRENT LIABILITIES

2,162,199

2,135,731

CREDITORS

Amounts falling due after more than one year

9

(832,200

)

(933,438

)

PROVISIONS FOR LIABILITIES

(26,591

)

(23,173

)

NET ASSETS

1,303,408

1,179,120

CAPITAL AND RESERVES

Called up share capital

101

101

Retained earnings

1,303,307

1,179,019

SHAREHOLDERS' FUNDS

1,303,408

1,179,120

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 17 July 2019 and were signed by:

Mr A.D. Pountney - Director

1.	STATUTORY INFORMATION

Andyfreight Holdings 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided during

the period in the normal course of business, and is shown net of value added tax and other sales related taxes.

The fair value of consideration takes into account trade discounts.

Revenue from the supply of services is recognised when:

- the amount of the revenue can be measured reliably;

- it is probable that the economic benefits associated with the transaction will flow to the entity; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at

cost less any accumulated depreciation and any accumulated impairment losses.

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

life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold buildings

-

2% on cost

Plant and machinery

-

20% on reducing balance

No depreciation is provided on freehold land

The gain or loss arising on the disposal of an asset is determined as the difference between the disposal proceeds

and the carrying value of the asset, and is credited or charged to the statement of comprehensive income.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

machinery

Totals

£

£

£

COST

At 1 November 2017

and 31 October 2018

2,233,537

53,123

2,286,660

DEPRECIATION

At 1 November 2017

197,875

32,875

230,750

Charge for year

33,010

4,050

37,060

At 31 October 2018

230,885

36,925

267,810

NET BOOK VALUE

At 31 October 2018

2,002,652

16,198

2,018,850

At 31 October 2017

2,035,662

20,248

2,055,910

Included in cost of land and buildings is freehold land of £ 583,039 (2017 - £ 583,039 ) which is not depreciated.

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 November 2017

and 31 October 2018

100

NET BOOK VALUE

At 31 October 2018

100

At 31 October 2017

100

The company's investments at the Statement of Financial Position date in the share capital of companies include

the following:

Andyfreight Limited

Registered office: Andyfreight Business Park, Folkes Road, Lye, Stourbridge, West Midlands, DY9 8RB.

Nature of business: Haulage contractors

%

Class of shares:

holding

Ordinary

100.00

2018

2017

£

£

Aggregate capital and reserves

1,604,445

1,485,626

Profit for the year

118,819

186,489

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

92,506

85,375

Amounts owed by group undertakings

168,480

167,452

Other debtors

12,766

6,867

273,752

259,694

7.	CURRENT ASSET INVESTMENTS

2018

2017

£

£

Other

15,479

11,957

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

101,000

98,800

Trade creditors

41,862

9,276

Taxation and social security

71,734

72,452

Other creditors

80,276

74,301

294,872

254,829

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

832,200

933,438

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

407,600

517,938

10.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

933,200

1,032,238

Bank borrowing is secured by fixed and floating charges over the assets of the company.

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Neil Smith BSc FCA (Senior Statutory Auditor)

for and on behalf of Folkes Worton LLP

12.	ULTIMATE CONTROLLING PARTY

Control over the company is exercised by Mr. A.D. Pountney, the company's director, by virtue of him holding a

majority of the issued share capital of the company.