Freight.co Rapid Despatch Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC143525 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2017

FOR

FREIGHT.CO RAPID DESPATCH LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J M Riddoch

Mrs D J Rae

REGISTERED OFFICE:

Unit 5, Greenrole Estate

Howemoss Drive

Kirkhill, Dyce

Aberdeen

AB21 0GL

REGISTERED NUMBER:

SC143525 (Scotland)

ACCOUNTANTS:

Phil Dodgson & Partners Limited

63/65 High Street

Skipton

North Yorkshire

BD23 1DS

FIXED ASSETS

Tangible assets

4

9,576

12,874

CURRENT ASSETS

Debtors

5

162,136

155,536

Cash at bank

4,325

2,249

166,461

157,785

CREDITORS

Amounts falling due within one year

6

285,119

243,385

NET CURRENT LIABILITIES

(118,658

)

(85,600

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(109,082

)

(72,726

)

PROVISIONS FOR LIABILITIES

-

2,500

NET LIABILITIES

(109,082

)

(75,226

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(109,084

)

(75,228

)

(109,082

)

(75,226

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 24 January 2018 and were signed on its behalf by:

J M Riddoch - Director

1.	STATUTORY INFORMATION

Freight.co Rapid Despatch Limited is a private company, limited by shares , registered in Scotland. The

company's registered number and registered office address can be found on the Company Information page.

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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost and 10% on cost

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 have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2016

and 30 April 2017

36,366

DEPRECIATION

At 1 May 2016

23,492

Charge for year

3,298

At 30 April 2017

26,790

NET BOOK VALUE

At 30 April 2017

9,576

At 30 April 2016

12,874

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

143,158

146,464

Other debtors

18,978

9,072

162,136

155,536

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

74,218

64,236

Hire purchase contracts

4,744

9,919

Trade creditors

130,496

126,655

Amounts owed to group undertakings

53,839

19,424

Taxation and social security

19,675

20,186

Other creditors

2,147

2,965

285,119

243,385

7.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

RBS Invoice Finance

74,217

64,236

RBS Invoice Finance Limited has a floating charge over the assets of the company.

8.	ULTIMATE CONTROLLING PARTY

In the period under review the directors regard The Freight.Co Group Limited incorporated in Scotland as the

ultimate holding company.