Thunderbird Freight Limited - Accounts to registrar - small 17.1

REGISTERED NUMBER: 02575663 (England and Wales)

THUNDERBIRD FREIGHT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2017

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

14,518

13,607

CURRENT ASSETS

Stocks

1,000

1,000

Debtors

5

279,494

240,728

Cash at bank and in hand

455,442

451,856

735,936

693,584

CREDITORS

Amounts falling due within one year

6

650,078

635,907

NET CURRENT ASSETS

85,858

57,677

TOTAL ASSETS LESS CURRENT LIABILITIES

100,376

71,284

PROVISIONS FOR LIABILITIES

2,905

2,850

NET ASSETS

97,471

68,434

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

97,371

68,334

SHAREHOLDERS' FUNDS

97,471

68,434

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 28 April 2017 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 Income Statement,

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 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 (2016 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2016

27,782

Additions

4,313

At 31 January 2017

32,095

DEPRECIATION

At 1 February 2016

14,175

Charge for year

3,402

At 31 January 2017

17,577

NET BOOK VALUE

At 31 January 2017

14,518

At 31 January 2016

13,607

5.

DEBTORS

2017

2016

£

£

Amounts falling due within one year:

Trade debtors

255,506

215,831

Other debtors

20,535

19,912

276,041

235,743

Amounts falling due after more than one year:

Other debtors

3,453

4,985

Aggregate amounts

279,494

240,728

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

181,310

101,844

Taxation and social security

63,393

50,181

Other creditors

405,375

483,882

650,078

635,907

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2017

2016

£

£

Within one year

15,352

12,583

Between one and five years

1,970

10,922

17,322

23,505

8.	CONTINGENT LIABILITIES

The company has given counter guarantees of £50,000 (2016 - £100,000) in respect of bank

guarantees and indemnities, of a like amount to H.M. Revenue and Customs.

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £120,000 (2016 - £96,000) were paid to the directors .