P.A. Freight Services (Midlands) Limited Filleted accounts for Companies House (small and micro)

P.A. FREIGHT SERVICES (MIDLANDS) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 02327273

P.A. Freight Services (Midlands) Limited

Filleted Unaudited Financial Statements

31 August 2019

P.A. Freight Services (Midlands) Limited

Financial Statements

Year ended 31 August 2019

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

P.A. Freight Services (Midlands) Limited

Statement of Financial Position

31 August 2019

	2019		2018
Note	£	£	£

Current assets

Debtors	5	36,557	37,663
Cash at bank and in hand		774	2,355
		--------	--------
		37,331	40,018

Creditors: amounts falling due within one year	6	261,888		255,732
		---------		---------
Net current liabilities			224,557	215,714
			---------	---------
Total assets less current liabilities			( 224,557)	( 215,714)
			---------	---------
Net liabilities			( 224,557)	( 215,714)
			---------	---------

Capital and reserves

Called up share capital	20,000	20,000
Profit and loss account	( 244,557)	( 235,714)
	---------	---------
Shareholders deficit	( 224,557)	( 215,714)
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 August 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 6 January 2020 , and are signed on behalf of the board by:

Mr A T Morris
Director

Company registration number: 02327273

P.A. Freight Services (Midlands) Limited

Notes to the Financial Statements

Year ended 31 August 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is International Logistics Centre, Fosse Way, Newark, Nottinghamshire, NG24 4SP.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The company has received loans which are owed to companies under the control of the director Mr A Morris. The loans are repayable on demand. The companies under the control of Mr A Morris have confirmed their continued support for the company. The director, having considered the company’s trading position, continues to adopt the going concern basis in preparing the financial statements which assumes that the company will continue in operation for the foreseeable future.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2018: 1 ).

5. Debtors

	2019	2018
	£	£
Other debtors	36,557	37,663
	--------	--------

6. Creditors: amounts falling due within one year

	2019	2018
	£	£
Trade creditors	–	6,067
Other creditors	261,888	249,665
	---------	---------
	261,888	255,732
	---------	---------

7. Contingencies

The company entered into a Special Purpose Trust tax scheme which is being enquired into by HM Revenue & Customs. The company has received settlement calculations from HMRC amounting to £119,387 plus costs and continues to be in discussion with HMRC. In the opinion of the Director the outcome of the discussions cannot yet be determined. No provision has been made in the financial statements.

8. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	Balance brought forward and outstanding
	2019	2018
	£	£
Mr A T Morris	600	600
	----	----