VKC Express Logistics Limited 13936377 false 2022-02-23 2023-02-28 2023-02-28 The principal activity of the company is that of providing operation of warehousing and storage facilities for land transport activities. Digita Accounts Production Advanced 6.30.9574.0 true 13936377 2022-02-23 2023-02-28 13936377 2023-02-28 13936377 bus:OrdinaryShareClass2 2023-02-28 13936377 core:RetainedEarningsAccumulatedLosses 2023-02-28 13936377 core:ShareCapital 2023-02-28 13936377 core:CurrentFinancialInstruments 2023-02-28 13936377 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 13936377 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 13936377 core:MotorVehicles 2023-02-28 13936377 core:OfficeEquipment 2023-02-28 13936377 bus:SmallEntities 2022-02-23 2023-02-28 13936377 bus:AuditExemptWithAccountantsReport 2022-02-23 2023-02-28 13936377 bus:AbridgedAccounts 2022-02-23 2023-02-28 13936377 bus:SmallCompaniesRegimeForAccounts 2022-02-23 2023-02-28 13936377 bus:RegisteredOffice 2022-02-23 2023-02-28 13936377 bus:Director1 2022-02-23 2023-02-28 13936377 bus:OrdinaryShareClass2 2022-02-23 2023-02-28 13936377 bus:PrivateLimitedCompanyLtd 2022-02-23 2023-02-28 13936377 core:MotorVehicles 2022-02-23 2023-02-28 13936377 core:OfficeEquipment 2022-02-23 2023-02-28 13936377 core:PlantMachinery 2022-02-23 2023-02-28 13936377 countries:AllCountries 2022-02-23 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13936377

VKC Express Logistics Limited

Annual Report and Unaudited Abridged Financial Statements

for the Period from 23 February 2022 to 28 February 2023

 

VKC Express Logistics Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 5

 

VKC Express Logistics Limited

Company Information

Director

A Nazir

Registered office

Unit 3 Mill Lane
Newcastle Upon Tyne
NE4 6QA

Accountants

Ross + Partners
Chartered Certified Accountants
Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

 

VKC Express Logistics Limited

(Registration number: 13936377)
Abridged Balance Sheet as at 28 February 2023

Note

2023
£

Fixed assets

 

Tangible assets

3

112,918

Investments

10,000

 

122,918

Current assets

 

Debtors

106,541

Cash at bank and in hand

 

4,686

 

111,227

Creditors: Amounts falling due within one year

(119,164)

Net current liabilities

 

(7,937)

Total assets less current liabilities

 

114,981

Creditors: Amounts falling due after more than one year

(19,684)

Provisions for liabilities

(20,403)

Net assets

 

74,894

Capital and reserves

 

Called up share capital

1

Retained earnings

74,893

Shareholders' funds

 

74,894

For the financial period ending 28 February 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 his 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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

VKC Express Logistics Limited

(Registration number: 13936377)
Abridged Balance Sheet as at 28 February 2023

Approved and authorised by the director on 23 November 2023
 

.........................................
A Nazir
Director

 

VKC Express Logistics Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 23 February 2022 to 28 February 2023

1

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 abridged 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 abridged 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.

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 deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

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

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.

 

VKC Express Logistics Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 23 February 2022 to 28 February 2023

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

Plant and machinery

33% straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

2

Staff numbers

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

3

Tangible assets

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

Additions

2,414

131,412

133,826

At 28 February 2023

2,414

131,412

133,826

Depreciation

Charge for the period

805

20,103

20,908

At 28 February 2023

805

20,103

20,908

Carrying amount

At 28 February 2023

1,609

111,309

112,918

4

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary shares of £1 each

1

1