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Registered Number: 06173302
England and Wales

 

 

 

WINDFALL LOGISTICS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 18,496   
18,496   
Current assets      
Debtors 4 4,333,929    2,834,171 
Cash at bank and in hand 974,377    351,423 
5,308,306    3,185,594 
Creditors: amount falling due within one year 5 (4,481,849)   (2,399,862)
Net current assets 826,457    785,732 
 
Total assets less current liabilities 844,953    785,732 
Creditors: amount falling due after more than one year 6 (368,375)   (377,582)
Net assets 476,578    408,150 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 476,478    408,050 
Shareholder's funds 476,578    408,150 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 26 October 2023 and were signed on its behalf by:


-------------------------------
Angelos Panayiotou
Director
1
General Information
WIndfall Logistics Limited is a private company, limited by shares, registered in England and Wales, registration number 06173302, registration address Windfall House D1, The Courtyard, Alban Park, St Albans, Hertfordshire, AL4 0LA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.

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

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


Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Straight Line
Computer Equipment 25% Straight Line
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
2.

Average number of employees

Average number of employees during the year was 12 (2022 : 10).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 April 2022    
Additions 19,314    4,060    23,374 
Disposals    
At 31 March 2023 19,314    4,060    23,374 
Depreciation
At 01 April 2022    
Charge for year 3,863    1,015    4,878 
On disposals    
At 31 March 2023 3,863    1,015    4,878 
Net book values
Closing balance as at 31 March 2023 15,451    3,045    18,496 
Opening balance as at 01 April 2022    


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 4,298,814    2,904,668 
Provision for Doubtful Debts   (84,726)
Prepayments & Accrued Income 4,256   
Other Debtors 4,420   
VAT 26,439    14,229 
4,333,929    2,834,171 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 4,038,397    2,280,176 
Loans due within 1 year 298,067    105,215 
Corporation Tax 12,225    3,872 
PAYE & Social Security 12,300    10,599 
Accrued Expenses 120,860   
4,481,849    2,399,862 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Long Term Loans 368,375    377,582 
368,375    377,582 

2