Direct Freight Systems Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 02926003 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2017

for

DIRECT FREIGHT SYSTEMS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

J Thorney

REGISTERED OFFICE:

Henstaff Court

Llantrisant Road

Groesfaen

Cardiff

CF72 8NG

REGISTERED NUMBER:

02926003 (England and Wales)

ACCOUNTANTS:

EST Accountants Ltd

Henstaff Court

Llantrisant Road

Groesfaen

Cardiff

CF72 8NG

FIXED ASSETS

Intangible assets

4

50,500

54,000

Tangible assets

5

4,534

5,333

55,034

59,333

CURRENT ASSETS

Debtors

6

122,189

164,016

Cash at bank

95,202

68,472

217,391

232,488

CREDITORS

Amounts falling due within one year

7

98,683

135,053

NET CURRENT ASSETS

118,708

97,435

TOTAL ASSETS LESS CURRENT LIABILITIES

173,742

156,768

CAPITAL AND RESERVES

Called up share capital

15,434

15,434

Retained earnings

158,308

141,334

SHAREHOLDERS' FUNDS

173,742

156,768

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 28 February 2018 and were signed by:

J Thorney - Director

1.	STATUTORY INFORMATION

Direct Freight Systems 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.

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 represents net invoiced sales of services, excluding value added tax.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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

-

20% on reducing balance

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 1 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2016

and 31 July 2017

96,000

AMORTISATION

At 1 August 2016

42,000

Charge for year

3,500

At 31 July 2017

45,500

NET BOOK VALUE

At 31 July 2017

50,500

At 31 July 2016

54,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2016

and 31 July 2017

33,677

DEPRECIATION

At 1 August 2016

28,344

Charge for year

799

At 31 July 2017

29,143

NET BOOK VALUE

At 31 July 2017

4,534

At 31 July 2016

5,333

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Trade debtors

106,153

164,016

Other debtors

16,036

-

122,189

164,016

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Bank loans and overdrafts

6

-

Trade creditors

60,485

26,231

Taxation and social security

35,421

54,843

Other creditors

2,771

53,979

98,683

135,053