St Mark Freight Services Limited - Period Ending 2014-12-31

Registration number: 04256028

St Mark Freight Services Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

Kajaine Limited
Kajaine House
57-67 High Street
Edgware
HA8 7DD

St Mark Freight Services Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

St Mark Freight Services Limited
(Registration number: 04256028)
Abbreviated Balance Sheet at 31 December 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					247,571			195,758
Current assets
Debtors					1,191,058			978,019
Cash at bank and in hand					101,962			30,540
					1,293,020			1,008,559
Creditors: Amounts falling due within one year					(1,340,980)			(1,056,450)
Net current liabilities					(47,960)			(47,891)
Total assets less current liabilities					199,611			147,867
Creditors: Amounts falling due after more than one year					(12,271)			-
Net assets					187,340			147,867
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					187,240			147,767
Shareholders' funds					187,340			147,867

For the year ending 31 December 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved by the director on 29 September 2015

.........................................
Mr K Y Hana
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

St Mark Freight Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on the assumption that the company remains a going concern. The directors have agreed to continue to provide financial support and honour the company's obligations as and when they arise for at least 12 months from the date of signing these financial statements.

The directors consider that the company has sufficient resources and adequate backing available to continue operating for the foreseeable future. For these reasons the directors continue to prepare the financial statements on a going concern basis.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Depreciation

All fixed assets are initially recorded at cost.

The carrying values of tangible fixed assets are reviewed for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Leasehold Property	Over period of lease of 20 years
Plant and machinery	25% and 10% per annum on cost
Fixtures and fittings	25% per annum on cost
Motor vehicles	25% per annum on cost

Foreign currency

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Page 2

St Mark Freight Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2014		852,349			852,349
Additions		90,313			90,313
Disposals		(36,750)			(36,750)
At 31 December 2014		905,912			905,912
Depreciation
At 1 January 2014		656,591			656,591
Charge for the year		35,829			35,829
Eliminated on disposals		(34,079)			(34,079)
At 31 December 2014		658,341			658,341
Net book value
At 31 December 2014		247,571			247,571
At 31 December 2013		195,758			195,758

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2014 £			2013 £
Amounts falling due within one year		3,507			-
Amounts falling due after more than one year		12,271			-
Total secured creditors		15,778			-

Page 3

St Mark Freight Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 4