Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-31252022-02-01falselogistics services.21falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07127842 2022-02-01 2023-01-31 07127842 2021-02-01 2022-01-31 07127842 2023-01-31 07127842 2022-01-31 07127842 c:Director2 2022-02-01 2023-01-31 07127842 d:PlantMachinery 2022-02-01 2023-01-31 07127842 d:PlantMachinery 2023-01-31 07127842 d:PlantMachinery 2022-01-31 07127842 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 07127842 d:MotorVehicles 2022-02-01 2023-01-31 07127842 d:MotorVehicles 2023-01-31 07127842 d:MotorVehicles 2022-01-31 07127842 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 07127842 d:FurnitureFittings 2022-02-01 2023-01-31 07127842 d:FurnitureFittings 2023-01-31 07127842 d:FurnitureFittings 2022-01-31 07127842 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 07127842 d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 07127842 d:CurrentFinancialInstruments 2023-01-31 07127842 d:CurrentFinancialInstruments 2022-01-31 07127842 d:Non-currentFinancialInstruments 2023-01-31 07127842 d:Non-currentFinancialInstruments 2022-01-31 07127842 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 07127842 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 07127842 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 07127842 d:Non-currentFinancialInstruments d:AfterOneYear 2022-01-31 07127842 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 07127842 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-01-31 07127842 d:ShareCapital 2023-01-31 07127842 d:ShareCapital 2022-01-31 07127842 d:CapitalRedemptionReserve 2023-01-31 07127842 d:CapitalRedemptionReserve 2022-01-31 07127842 d:RetainedEarningsAccumulatedLosses 2023-01-31 07127842 d:RetainedEarningsAccumulatedLosses 2022-01-31 07127842 c:OrdinaryShareClass2 2022-02-01 2023-01-31 07127842 c:OrdinaryShareClass2 2023-01-31 07127842 c:FRS102 2022-02-01 2023-01-31 07127842 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 07127842 c:FullAccounts 2022-02-01 2023-01-31 07127842 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 07127842 d:WithinOneYear 2023-01-31 07127842 d:WithinOneYear 2022-01-31 07127842 d:BetweenOneFiveYears 2023-01-31 07127842 d:BetweenOneFiveYears 2022-01-31 07127842 d:PlantEquipmentOtherAssetsUnderOperatingLeases 2023-01-31 07127842 d:PlantEquipmentOtherAssetsUnderOperatingLeases 2022-01-31 07127842 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:WithinOneYear 2023-01-31 07127842 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:WithinOneYear 2022-01-31 07127842 2 2022-02-01 2023-01-31 07127842 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 07127842 d:AcceleratedTaxDepreciationDeferredTax 2022-01-31 07127842 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-31 07127842 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-01-31 07127842 d:LeasedAssetsHeldAsLessee 2023-01-31 07127842 d:LeasedAssetsHeldAsLessee 2022-01-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 07127842









LHR GLOBAL LOGISTICS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023

 
LHR GLOBAL LOGISTICS LTD
REGISTERED NUMBER: 07127842

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
75,143
100,192

  
75,143
100,192

Current assets
  

Debtors: amounts falling due within one year
 5 
742,730
679,464

Cash at bank and in hand
 6 
325,174
329,921

  
1,067,904
1,009,385

Creditors: amounts falling due within one year
 7 
(674,162)
(622,360)

Net current assets
  
 
 
393,742
 
 
387,025

Total assets less current liabilities
  
468,885
487,217

Creditors: amounts falling due after more than one year
 8 
-
(93,750)

Provisions for liabilities
  

Deferred tax
 10 
(7,000)
-

Net assets
  
461,885
393,467


Capital and reserves
  

Called up share capital 
 11 
100
100

Capital redemption reserve
  
100
100

Profit and loss account
  
461,685
393,267

  
461,885
393,467


Page 1

 
LHR GLOBAL LOGISTICS LTD
REGISTERED NUMBER: 07127842
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the Statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 October 2023.




J Plackett
Director


The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
LHR GLOBAL LOGISTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

LHR Global Logistics Ltd is a company limited by shares, incorporated in England and Wales. The address of the registered office is Unit 15 The Freight Centre, Saxon Way, Harmondsworth, UB7 0LW.
The company specialises in logistics services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each year end foreign currency monetary items are translated using the closing rate. Non- monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at year end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'other operating income'.

Page 3

 
LHR GLOBAL LOGISTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the reporting date can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future years. The finance element of the rental payment is charged to the Statement of comprehensive income so as to produce a constant periodic rate of charge on the net obligation outstanding in each year.

 
2.6

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Statement of comprehensive income at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same year as the related expenditure.

 
2.7

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

Page 4

 
LHR GLOBAL LOGISTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.8

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 5

 
LHR GLOBAL LOGISTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following bases:

Plant and machinery
-
25%
on reducing balance
Motor vehicles
-
25%
on reducing balance
Fixtures and fittings
-
25%
on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 21 (2022 - 25).

Page 6

 
LHR GLOBAL LOGISTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost 


At 1 February 2022
87,357
202,599
69,167
359,123



At 31 January 2023

87,357
202,599
69,167
359,123



Depreciation


At 1 February 2022
69,731
143,503
45,697
258,931


Charge for the year
4,407
14,774
5,868
25,049



At 31 January 2023

74,138
158,277
51,565
283,980



Net book value



At 31 January 2023
13,219
44,322
17,602
75,143



At 31 January 2022
17,626
59,096
23,470
100,192

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
-
55,226

-
55,226

Page 7

 
LHR GLOBAL LOGISTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Debtors

2023
2022
£
£


Trade debtors
689,048
549,514

Other debtors
53,682
129,950

742,730
679,464



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
325,174
329,921

325,174
329,921



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
93,750
125,000

Trade creditors
544,178
455,024

Corporation tax
12,200
-

Other taxation and social security
16,834
23,503

Obligations under finance lease and hire purchase contracts
-
11,749

Other creditors
3,650
3,534

Accruals and deferred income
3,550
3,550

674,162
622,360


Obligations under finance leases and hire purchase contracts are secured against the assets to which the finance relates.

Page 8

 
LHR GLOBAL LOGISTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
93,750

-
93,750


.


9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
93,750
125,000


93,750
125,000

Amounts falling due 1-2 years

Bank loans
-
93,750


-
93,750



93,750
218,750


Page 9

 
LHR GLOBAL LOGISTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

10.


Deferred taxation




2023


£






Charged to the Statement of comprehensive income
7,000



At end of year
7,000

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
7,000
-

7,000
-


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 Ordinary B shares of £1 each
100
100





12.


Pension commitments

The company operates a defined contributions pension scheme. The assets under the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund amounted to £14,281 (2022 - £15,813). Contributions totalling £2,209 (2022 - £2,995) were payable to the fund at the reporting date and are included in creditors.

Page 10

 
LHR GLOBAL LOGISTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

13.


Commitments under operating leases

At 31 January 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£

Land and buildings


Not later than 1 year
146,160
146,160

Later than 1 year and not later than 5 years
133,980
280,140

280,140
426,300

2023
2022

£
£

Other


Not later than 1 year
-
4,036

-
4,036


14.


Related party transactions

Included within other debtors is an amount of £3,284 (2022 - £3,284) due from a company under common control.
At the reporting date the company was owed £294,532
 (2022 - £298,971) from a company under common control. A provision of £294,532 (2022 - £240,000) is being held in respect of this amount. 


15.


Controlling party

The director is the ultimate controlling party by virtue of her sole ownership of the entire share capital in the company.

 
Page 11