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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MAY 2018 |
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FOR |
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BEECHCROFT FREIGHT SERVICES LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MAY 2018 |
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FOR |
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BEECHCROFT FREIGHT SERVICES LIMITED |
BEECHCROFT FREIGHT SERVICES LIMITED (REGISTERED NUMBER: 03996122) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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BEECHCROFT FREIGHT SERVICES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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12 High Street |
Stanford le Hope |
Essex |
SS17 0EY |
BEECHCROFT FREIGHT SERVICES LIMITED (REGISTERED NUMBER: 03996122) |
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BALANCE SHEET |
31 MAY 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 9 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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BEECHCROFT FREIGHT SERVICES LIMITED (REGISTERED NUMBER: 03996122) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2018 |
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1. | STATUTORY INFORMATION |
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Beechcroft Freight Services Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the |
ordinary course of the company's activities. Turnover is shown net of value added tax, rebates and discounts. |
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The company recognises revenue when: |
The amount of revenue can be reliably measured, |
it is probable that future economic benefits will flow to the entity; |
and specific criteria have been met for each of the company's activities. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures, fittings and equipment | - |
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Motor vehicles | - |
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Financial instruments |
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity |
instrument of another entity. Basic financial instruments are initially recognized at transaction price and then |
subsequently at amortized cost with the exception of equity investments that are initially measured at fair value (being |
the transaction price excluding any transaction costs) with subsequent measurements at fair value, with changes |
recognized in profit and loss. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred taxation |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
BEECHCROFT FREIGHT SERVICES LIMITED (REGISTERED NUMBER: 03996122) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2018 |
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3. | ACCOUNTING POLICIES - continued |
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Employee benefits and pension costs |
When employees have rendered service to the company, short-term employee benefits to which the employees are |
entitled are recognized at the undiscounted amount expected to be paid for that service. |
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The company operates three defined contribution pension schemes. Contributions payable to the company's pension |
schemes are charged to the profit and loss account in the period to which they relate. |
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Operating leases |
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the |
lessor are charged to the profit and loss account as incurred. |
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Employee benefit trust |
The company have established an Employee Benefit Trust (EBT) for the benefit of certain employees. In accordance |
with UITF32, until such time as the assets of the EBT rest unconditionally with the employees, the assets and |
liabilities of the EBT are included within the relevant assets and liabilities of the company. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | TANGIBLE FIXED ASSETS |
Fixtures, |
fittings |
Plant and | and | Motor |
machinery | equipment | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 June 2017 |
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Additions |
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At 31 May 2018 |
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DEPRECIATION |
At 1 June 2017 |
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Charge for year |
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At 31 May 2018 |
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NET BOOK VALUE |
At 31 May 2018 |
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At 31 May 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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During the year ended 31 May 2011 a contribution was made to an Employee Benefit Trust of £300,000. At the year |
end the EBT has advanced loans of £300,000 (2017: £300,000) which are included within other debtors above. |
BEECHCROFT FREIGHT SERVICES LIMITED (REGISTERED NUMBER: 03996122) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2018 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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Directors' current accounts | 5,069 | 4,642 |
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8. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2018 | 2017 |
£ | £ |
Within one year |
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Between one and five years |
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9. | PROVISIONS FOR LIABILITIES |
2018 | 2017 |
£ | £ |
Deferred tax |
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Deferred |
tax |
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Balance at 1 June 2017 |
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Credit to Income Statement during year | ( |
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Balance at 31 May 2018 |
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The provision for deferred taxation is made up of accelerated capital allowances. |
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10. | PENSION COMMITMENTS |
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The company operates two defined contribution pension schemes, for the employees and directors. The assets of the |
schemes are held separately from those of the company in independently administered funds. At the balance sheet |
date there were £272 unpaid contributions (2017: £118). |