Registered number
04794192
SFM LOGISTICS LIMITED
Unaudited Filleted Accounts
31 July 2023
SFM LOGISTICS LIMITED
Registered number: 04794192
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 31,482 38,089
Current assets
Debtors 4 50,585 70,049
Cash at bank and in hand 9,828 28,754
60,413 98,803
Creditors: amounts falling due within one year 5 (27,849) (38,535)
Net current assets 32,564 60,268
Total assets less current liabilities 64,046 98,357
Creditors: amounts falling due after more than one year 6 (6,080) (13,375)
Net assets 57,966 84,982
Capital and reserves
Called up share capital 4 4
Profit and loss account 57,962 84,978
Shareholders' funds 57,966 84,982
The director is 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 director acknowledges his 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.
Mr S F M Albanese
Director
Approved by the board on 22 September 2023
SFM LOGISTICS LIMITED
Notes to the Accounts
for the year ended 31 July 2023
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 rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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 20% reducing balance
Fixtures, fittings, tools and equipment over 5 years
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. Unrelieved tax losses are recognised only to the extent that it is probable that they will be recovered against the reversal of future taxable profits.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 14 13
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2022 27,791 35,770 63,561
Additions 1,263 - 1,263
At 31 July 2023 29,054 35,770 64,824
Depreciation
At 1 August 2022 21,351 4,121 25,472
Charge for the year 1,541 6,329 7,870
At 31 July 2023 22,892 10,450 33,342
Net book value
At 31 July 2023 6,162 25,320 31,482
At 31 July 2022 6,440 31,649 38,089
4 Debtors 2023 2022
£ £
Trade debtors 50,585 49,370
Other debtors - 20,679
50,585 70,049
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 7,295 7,295
Trade creditors 2,030 6,560
Taxation and social security costs 13,892 21,155
Other creditors 4,632 3,525
27,849 38,535
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 6,080 13,375
7 Other information
SFM LOGISTICS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Unit 69 North Mersey Business Park
Woodward Road
Liverpool
Merseyside
L33 7UY
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