Scan Europe Logistics Ltd 14106065 false 2022-05-13 2023-05-31 2023-05-31 The principal activity of the company is providing freight services. Digita Accounts Production Advanced 6.30.9574.0 true true false 14106065 2022-05-13 2023-05-31 14106065 2023-05-31 14106065 bus:OrdinaryShareClass1 2023-05-31 14106065 core:RetainedEarningsAccumulatedLosses 2023-05-31 14106065 core:ShareCapital 2023-05-31 14106065 core:CurrentFinancialInstruments 2023-05-31 14106065 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 14106065 core:FurnitureFittingsToolsEquipment 2023-05-31 14106065 bus:SmallEntities 2022-05-13 2023-05-31 14106065 bus:AuditExemptWithAccountantsReport 2022-05-13 2023-05-31 14106065 bus:FullAccounts 2022-05-13 2023-05-31 14106065 bus:SmallCompaniesRegimeForAccounts 2022-05-13 2023-05-31 14106065 bus:RegisteredOffice 2022-05-13 2023-05-31 14106065 bus:Director1 2022-05-13 2023-05-31 14106065 bus:OrdinaryShareClass1 2022-05-13 2023-05-31 14106065 bus:PrivateLimitedCompanyLtd 2022-05-13 2023-05-31 14106065 core:FurnitureFittingsToolsEquipment 2022-05-13 2023-05-31 14106065 core:OfficeEquipment 2022-05-13 2023-05-31 14106065 1 2022-05-13 2023-05-31 14106065 countries:England 2022-05-13 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14106065

Scan Europe Logistics Ltd

Annual Report and Unaudited Financial Statements

for the Period from 13 May 2022 to 31 May 2023

 

Scan Europe Logistics Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Scan Europe Logistics Ltd

(Registration number: 14106065)
Balance Sheet as at 31 May 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

492

Current assets

 

Debtors

5

262,308

Cash at bank and in hand

 

28,319

 

290,627

Creditors: Amounts falling due within one year

6

(147,969)

Net current assets

 

142,658

Net assets

 

143,150

Capital and reserves

 

Called up share capital

7

2

Retained earnings

143,148

Shareholders' funds

 

143,150

For the financial period ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges her 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.

Approved and authorised by the director on 10 October 2023
 


Mrs Clare Louise Earp
Director

 

Scan Europe Logistics Ltd

Notes to the Unaudited Financial Statements for the Period from 13 May 2022 to 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
14 Cross Lane West
Partington
Manchester
M31 4ET

These financial statements were authorised for issue by the director on 10 October 2023.

2

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

The financial statements have been prepared on a going concern basis.

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 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.

 

Scan Europe Logistics Ltd

Notes to the Unaudited Financial Statements for the Period from 13 May 2022 to 31 May 2023

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

Office equipment

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

 

Scan Europe Logistics Ltd

Notes to the Unaudited Financial Statements for the Period from 13 May 2022 to 31 May 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2.

 

Scan Europe Logistics Ltd

Notes to the Unaudited Financial Statements for the Period from 13 May 2022 to 31 May 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

644

644

At 31 May 2023

644

644

Depreciation

Charge for the period

152

152

At 31 May 2023

152

152

Carrying amount

At 31 May 2023

492

492

5

Debtors

Current

2023
£

Trade debtors

258,891

Other debtors

3,417

 

262,308

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Loans and borrowings

42,806

Trade creditors

 

43,087

Taxation and social security

 

39,260

Other creditors

 

22,816

 

147,969

Included within loans and borrowings is an invoice discounting facility amounting to £42,806. As part of the security for the facility, there is a fixed and floating charge over all of the property and undertakings of the company.

 

Scan Europe Logistics Ltd

Notes to the Unaudited Financial Statements for the Period from 13 May 2022 to 31 May 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary share of £1 each

2

2

     

8

Parent and ultimate parent undertaking

The company is jointly controlled by the shareholders by virtue of their 50% shareholding.