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

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

1 false false false false false false false false false true false false false false false false No description of principal activity 2022-09-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 02327273 2022-09-01 2023-08-31 02327273 2023-08-31 02327273 2021-09-01 2022-08-31 02327273 2022-08-31 02327273 bus:Director1 2022-09-01 2023-08-31 02327273 core:WithinOneYear 2023-08-31 02327273 core:WithinOneYear 2022-08-31 02327273 core:ShareCapital 2023-08-31 02327273 core:ShareCapital 2022-08-31 02327273 core:RetainedEarningsAccumulatedLosses 2023-08-31 02327273 core:RetainedEarningsAccumulatedLosses 2022-08-31 02327273 bus:SmallEntities 2022-09-01 2023-08-31 02327273 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 02327273 bus:FullAccounts 2022-09-01 2023-08-31 02327273 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 02327273 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31

COMPANY REGISTRATION NUMBER: 02327273

P.A. Freight Services (Midlands) Limited

Filleted Unaudited Financial Statements

31 August 2023

P.A. Freight Services (Midlands) Limited

Financial Statements

Year ended 31 August 2023

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 2023

	2023	2022
Note	£	£

Current assets

Debtors	5	101,902	99,338
Cash at bank and in hand		659	675
		---------	---------
		102,561	100,013

Creditors: amounts falling due within one year	6	271,426	269,126
		---------	---------
Net current liabilities		168,865	169,113
		---------	---------
Total assets less current liabilities		( 168,865)	( 169,113)
		---------	---------
Net liabilities		( 168,865)	( 169,113)
		---------	---------

Capital and reserves

Called up share capital	20,000	20,000
Profit and loss account	( 188,865)	( 189,113)
	---------	---------
Shareholders deficit	( 168,865)	( 169,113)
	---------	---------

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 Section 1A of 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 2023 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 22 March 2024 , 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 2023

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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 (2022: 1 ).

5. Debtors

	2023	2022
	£	£
Other debtors	101,902	99,338
	---------	--------

6. Creditors: amounts falling due within one year

	2023	2022
	£	£
Other creditors	271,426	269,126
	---------	---------