Registered number
05756083
Eurologistics (Surrey) Limited
Unaudited Filleted Accounts
31 March 2022
Eurologistics (Surrey) Limited
Registered number: 05756083
Balance Sheet
as at 31 March 2022
Restated
Notes 2022 2021
£ £
Fixed assets
Tangible assets 4 2,998 3,528
Current assets
Debtors 5 12,351 7,758
Cash at bank and in hand 401,351 443,053
413,702 450,811
Creditors: amounts falling due within one year 6 (30,291) (54,154)
Net current assets 383,411 396,657
Net assets 386,409 400,185
Capital and reserves
Called up share capital 2 2
Profit and loss account 386,407 400,183
Shareholders' funds 386,409 400,185
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Welch
Director
Approved by the board on 13 September 2022
Eurologistics (Surrey) Limited
Notes to the Accounts
for the year ended 31 March 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance
Fixtures, fittings, tools and equipment 15% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Directors remuneration 2022 2021
£ £
M Welch 8,840 8,788
8,840 8,788
3 Employees 2022 2021
Number Number
Average number of persons employed by the company 2 2
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2021 1,535 10,863 12,398
At 31 March 2022 1,535 10,863 12,398
Depreciation
At 1 April 2021 1,230 7,640 8,870
Charge for the year 46 484 530
At 31 March 2022 1,276 8,124 9,400
Net book value
At 31 March 2022 259 2,739 2,998
At 31 March 2021 305 3,223 3,528
5 Debtors 2022 2021
£ £
Trade debtors 12,351 7,758
6 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 318 1,517
Taxation and social security costs 5,185 4,859
Other creditors 24,788 47,778
30,291 54,154
7 Related party transactions
At the year end, the director was due £24,788 from the company (2021 £44,849). This amount was interest free, unsecured, and repayable on demand.
8 Controlling party
The company is controlled by the director who owns 50% of the called up share capital.
9 Other information
Eurologistics (Surrey) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Lyndum House
High Street
Petersfield
Hampshire
GU32 3JG
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