Thunderbird Freight Limited - Accounts to registrar (filleted) - small 18.2

Thunderbird Freight Limited - Accounts to registrar (filleted) - small 18.2

THUNDERBIRD FREIGHT LIMITED - Company Information

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REGISTERED NUMBER: 02575663 (England and Wales)
















THUNDERBIRD FREIGHT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 FEBRUARY 2019 TO 31 DECEMBER 2019





Bland Baker
Chartered Accountants
21 Lodge Lane
Grays
Essex
RM17 5RY








THUNDERBIRD FREIGHT LIMITED (REGISTERED NUMBER: 02575663)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 FEBRUARY 2019 TO 31 DECEMBER 2019




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


THUNDERBIRD FREIGHT LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 FEBRUARY 2019 TO 31 DECEMBER 2019







DIRECTORS: G.R. Newell
J. McQuade





SECRETARY: J. McQuade





REGISTERED OFFICE: 21 Lodge Lane
Grays
Essex
RM17 5RY





REGISTERED NUMBER: 02575663 (England and Wales)





ACCOUNTANTS: Bland Baker
Chartered Accountants
21 Lodge Lane
Grays
Essex
RM17 5RY
Page 1
THUNDERBIRD FREIGHT LIMITED (REGISTERED NUMBER: 02575663)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2019

2019 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,991 12,379

CURRENT ASSETS
Stocks 500 2,000
Debtors 5 416,358 451,901
Cash at bank 666,631 623,673
1,083,489 1,077,574
CREDITORS
Amounts falling due within one year 6 689,118 904,815
NET CURRENT ASSETS 394,371 172,759
TOTAL ASSETS LESS CURRENT
LIABILITIES
406,362
185,138

PROVISIONS FOR LIABILITIES 2,275 2,350
NET ASSETS 404,087 182,788

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 403,987 182,688
SHAREHOLDERS' FUNDS 404,087 182,788

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as
at the end of each financial year and of its profit or loss for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2006 relating to financial statements, so far as applicable to the company.

The notes form part of these financial statements

Page 2 continued...
THUNDERBIRD FREIGHT LIMITED (REGISTERED NUMBER: 02575663)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2019


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors on 2 April 2020 and were signed on its
behalf by:




G.R. Newell - Director



J. McQuade - Director


The notes form part of these financial statements

Page 3
THUNDERBIRD FREIGHT LIMITED (REGISTERED NUMBER: 02575663)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 FEBRUARY 2019 TO 31 DECEMBER 2019

1. STATUTORY INFORMATION

Thunderbird Freight 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
The turnover represents the net invoiced sale of services less credits given and excluding value added
tax.


Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.


Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of
Income and Retained Earnings, 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.


Page 4 continued...
THUNDERBIRD FREIGHT LIMITED (REGISTERED NUMBER: 02575663)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2019 TO 31 DECEMBER 2019

2. ACCOUNTING POLICIES - continued
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 period 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.

Pension costs and other post-retirement benefits
Contributions in respect of the company's defined contribution pension scheme are charged to the
profit and loss account in the year in which they become payable in accordance with the rules of the
scheme.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 6 (2019 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2019 28,987
Additions 2,343
At 31 December 2019 31,330
DEPRECIATION
At 1 February 2019 16,608
Charge for period 2,731
At 31 December 2019 19,339
NET BOOK VALUE
At 31 December 2019 11,991
At 31 January 2019 12,379

Page 5 continued...
THUNDERBIRD FREIGHT LIMITED (REGISTERED NUMBER: 02575663)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2019 TO 31 DECEMBER 2019

5. DEBTORS
2019 2019
£    £   
Amounts falling due within one year:
Trade debtors 389,213 421,040
Other debtors 27,145 30,773
416,358 451,813

Amounts falling due after more than one year:
Other debtors - 88

Aggregate amounts 416,358 451,901

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2019
£    £   
Trade creditors 183,118 211,909
Taxation and social security 112,843 63,596
Other creditors 393,157 629,310
689,118 904,815

7. CONTINGENT LIABILITIES

The company has given counter guarantees of £50,000 (2018 - £50,000) in respect of bank
guarantees and indemnities, of a like amount to H.M. Revenue and Customs.

Page 6