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Registration number: 10598395

JPD Logistics Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

JPD Logistics Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

JPD Logistics Ltd

Company Information for the Year Ended 31 December 2021

Directors

D P Steadman

J A Wilkinson

D A Edwards

Registered office

Trident House
105 Derby Road
Liverpool
L20 8LZ

Accountants

Whitnalls
Chatered Certified Accountants
Trident House
105 Derby Road
Liverpool
L20 8LZ

 

JPD Logistics Ltd

(Registration number: 10598395)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed Assets

 

Tangible Assets

3

82,702

35,763

Current assets

 

Debtors

4

64,977

60,603

Cash at bank and in hand

 

25,143

29,547

 

90,120

90,150

Creditors: Amounts falling due within one year

5

(117,534)

(72,358)

Net current (liabilities)/assets

 

(27,414)

17,792

Total assets less current liabilities

 

55,288

53,555

Creditors: Amounts falling due after more than one year

5

(69,007)

(35,702)

Provisions for liabilities

-

(2,047)

Net (liabilities)/assets

 

(13,719)

15,806

Capital and Reserves

 

Called up share capital

7

3

3

Retained Earnings

(13,722)

15,803

Shareholders' (deficit)/funds

 

(13,719)

15,806

For the financial year ending 31 December 2021 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

JPD Logistics Ltd

(Registration number: 10598395)
Balance Sheet as at 31 December 2021

Approved and authorised by the Board on 12 April 2022 and signed on its behalf by:
 

.........................................

D P Steadman

Director

.........................................

J A Wilkinson

Director

 

JPD Logistics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Due to the continued support of the shareholders and credit facilities, the directors believe that it is appropriate to prepare the financial statements on a going concern basis, which assumes that the company will continue to trade for the forseeable future.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

JPD Logistics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% p.a. on Reducing balance basis

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

JPD Logistics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2020 - 6).

3

Tangible Assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2021

545

46,400

46,945

Additions

-

90,500

90,500

Disposals

-

(38,100)

(38,100)

At 31 December 2021

545

98,800

99,345

Depreciation

At 1 January 2021

45

11,137

11,182

Charge for the year

165

15,810

15,975

Eliminated on disposal

-

(10,514)

(10,514)

At 31 December 2021

210

16,433

16,643

Carrying amount

At 31 December 2021

335

82,367

82,702

At 31 December 2020

500

35,263

35,763

4

Debtors

Current

2021
£

2020
£

Trade Debtors

56,136

56,022

Prepayments

1,582

4,581

Other debtors

7,259

-

 

64,977

60,603

 

JPD Logistics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

5

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Loans and borrowings

6

90,188

37,362

Trade Creditors

 

15,630

13,379

Taxation and social security

 

8,641

17,358

Accruals and deferred income

 

3,075

3,004

Other creditors

 

-

1,255

 

117,534

72,358


Creditors include bank loans and net obligations under finance lease and hire purchase contracts which are secured in the sum of £7,362 (2019 - £Nil).

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

6

69,007

35,702

Creditors include bank loans and net obligations under finance lease and hire purchase contracts which are secured in the sum of £35,702 (2019 - £Nil).

 

JPD Logistics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

6

Loans and borrowings

2021
£

2020
£

Current loans and borrowings

Bank borrowings

4,446

1,112

Hire purchase contracts

26,144

6,250

Other borrowings

59,598

30,000

90,188

37,362

2021
£

2020
£

Non-current loans and borrowings

Bank borrowings

17,043

21,119

Hire purchase contracts

51,964

14,583

69,007

35,702

7

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary shares of £0.01 each

300

3

300

3