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

REGISTERED NUMBER: 02575663 (England and Wales)

THUNDERBIRD FREIGHT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

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

FIXED ASSETS

Tangible assets

4

24,935

11,991

CURRENT ASSETS

Stocks

1,000

500

Debtors

5

427,612

416,358

Cash at bank

614,791

666,631

1,043,403

1,083,489

CREDITORS

Amounts falling due within one year

6

533,920

689,118

NET CURRENT ASSETS

509,483

394,371

TOTAL ASSETS LESS CURRENT LIABILITIES

534,418

406,362

PROVISIONS FOR LIABILITIES

4,725

2,275

NET ASSETS

529,693

404,087

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

529,593

403,987

SHAREHOLDERS' FUNDS

529,693

404,087

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 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 and authorised for issue on 18 June 2021 and were signed on its behalf by:

G.R. Newell - Director

J. McQuade - Director

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 year 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.

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.

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 year was 6 (2019 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2020

31,330

Additions

19,098

Disposals

(20,711

)

At 31 December 2020

29,717

DEPRECIATION

At 1 January 2020

19,339

Charge for year

2,916

Eliminated on disposal

(17,473

)

At 31 December 2020

4,782

NET BOOK VALUE

At 31 December 2020

24,935

At 31 December 2019

11,991

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

401,838

389,213

Other debtors

25,774

27,145

427,612

416,358

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

201,662

183,118

Taxation and social security

80,760

112,843

Other creditors

251,498

393,157

533,920

689,118