Registration number:
Stanton Logistics Limited
for the Year Ended 31 March 2023
Stanton Logistics Limited
Contents
Company Information |
|
Strategic Report |
|
Directors' Report |
|
Statement of Directors' Responsibilities |
|
Independent Auditor's Report |
|
Profit and Loss Account |
|
Balance Sheet |
|
Statement of Changes in Equity |
|
Notes to the Financial Statements |
Stanton Logistics Limited
Company Information
Directors |
Mr Christopher Allender Mr Christopher McGinley Mr Sean Wilson |
Company secretary |
Mr Christopher Allender |
Registered office |
|
Auditor |
|
Stanton Logistics Limited
Strategic Report for the Year Ended 31 March 2023
The directors present their strategic report for the year ended 31 March 2023.
Principal activity
The principal activity of the company is hiring out commercial vehicles and drivers.
Fair review of the business
The Sales received an increase of 7% on the previous year, Gross profit was up on the previous year by 9%, and the resultant profit before tax has a decreased by 9% on the previous year.
The directors are suitably pleased with the results and the direction the business has been following which has beaten internal budgets and exceeded expectations.
Principal risks and uncertainties
There are a number of risks and uncertainties that affect the operational activities, continued increasing bank of England base interest rates are adding an extra financial load to the industry in general. The Ukraine war continues and is also contributing to variability with fuel prices. The rising cost of living are also a concern and appear to be having a negative effect on the economy
Key Performance Indicators
We rely on the below key performance indicators along with a number of internal KPI's including cash flow management, sales growth, weekly P&L, monthly internal management accounts and more.
2023 |
2022 |
Difference
|
% |
|
Sales |
17,203,861 |
16,111,319 |
1,092,542 |
7 |
Gross Profit |
3,018,237 |
2,774,045 |
244,192 |
9 |
Operating Profit |
847,868 |
814,273 |
33,595 |
4 |
Profit Before Tax |
671,194 |
735,740 |
(64,546) |
(9) |
Approved and authorised by the
......................................... |
Stanton Logistics Limited
Directors' Report for the Year Ended 31 March 2023
The directors present their report and the financial statements for the year ended 31 March 2023.
Directors of the company
The directors who held office during the year were as follows:
Information included in the Strategic Report
The result for the year are set out on page 8. The profit for the year after taxation was £631,469. The dividends paid during the year totalled £608,920.
Future developments
The directors are confident that the company will continue to increase turnover and profitability in the future period.
Disclosure of information to the auditor
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor are unaware.
Auditor
The auditor, GBAC Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.
Approved and authorised by the
......................................... |
Stanton Logistics Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
• |
select suitable accounting policies and apply them consistently; |
• |
make judgements and accounting estimates that are reasonable and prudent; |
• |
state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Stanton Logistics Limited
Independent Auditor's Report to the Members of Stanton Logistics Limited
Opinion
We have audited the financial statements of Stanton Logistics Limited (the 'company') for the year ended 31 March 2023 which comprise the income statement, the statement of financial position, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 March 2023 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditors' report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Stanton Logistics Limited
Independent Auditor's Report to the Members of Stanton Logistics Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
• |
the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
• |
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
Stanton Logistics Limited
Independent Auditor's Report to the Members of Stanton Logistics Limited
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
We obtained an understanding of the company and the sector in which it operates to identify laws and regulations that could reasonably be expected to have a direct effect on the financial statements. We obtained our understanding in this regard through discussions with management, application of cumulative audit knowledge and experience of the sector.
We determined the principal laws and regulations relevant to the company in this regard to be those arising from the Companies Act 2006, Local tax laws and regulations, Anti Money Laundering Legislation, Bribery Act 2010, Road Vehicles (Authorised Weight) Regulations 1998 and Road Traffic Act 1988.
We designed our audit procedures to ensure the audit team considered whether there were any indications of non-compliance by the company with those laws and regulations. These procedures included, but were not limited to; a review of general ledger transactions and discussions with management.
We also identified the risks of material misstatement of the financial statements due to fraud. We considered, in addition to the non-rebuttable presumption of a risk of fraud arising from management override of controls, including the potential for management bias identified in relation to the provisions and estimates and we addressed this by challenging the assumptions and judgements made by management when auditing that significant accounting estimate.
As in all of our audits, we addressed the risk of fraud arising from management override of controls by performing audit procedures which included, but were not limited to: the testing of journals; reviewing accounting estimates for evidence of bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
......................................
For and on behalf of
Old Linen Court
83-85 Shambles Street
South Yorkshire
S70 2SB
Stanton Logistics Limited
Profit and Loss Account for the Year Ended 31 March 2023
Note |
2023 |
2022 |
|
Turnover |
|
|
|
Cost of sales |
( |
( |
|
Gross profit |
|
|
|
Administrative expenses |
( |
( |
|
Other operating income |
|
|
|
Operating profit |
847,868 |
814,273 |
|
Other interest receivable and similar income |
|
|
|
Interest payable and similar expenses |
( |
( |
|
(176,674) |
(78,533) |
||
Profit before tax |
|
|
|
Tax on profit |
( |
( |
|
Profit for the financial year |
|
|
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Stanton Logistics Limited
(Registration number: 06197455)
Balance Sheet as at 31 March 2023
Note |
2023 |
2022 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Other financial assets |
25,000 |
25,000 |
|
|
|
||
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current (liabilities)/assets |
( |
|
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Provisions for liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
210 |
210 |
|
Retained earnings |
446,711 |
428,062 |
|
Shareholders' funds |
446,921 |
428,272 |
Approved and authorised by the
......................................... |
Stanton Logistics Limited
Statement of Changes in Equity for the Year Ended 31 March 2023
Share capital |
Retained earnings |
Total |
|
At 1 April 2022 |
|
|
|
Profit for the year |
- |
|
|
Dividends |
- |
( |
( |
At 31 March 2023 |
|
|
|
Share capital |
Retained earnings |
Total |
|
At 1 April 2021 |
|
|
|
Profit for the year |
- |
|
|
Dividends |
- |
( |
( |
At 31 March 2022 |
|
|
|
Stanton Logistics Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
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.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly avaliable consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therfore taken advantage of exemptions from the following disclosure requirements:
- section 7 'Statement of cash flows': Presentation of a statement of cash flow and related notes and disclosures.
The financial statements of the company are consolidated in the financial statements of 2 AM Management Company Limited. These consolidated financial statements are available from its registered office or can be obtained from Companies House.
The currency is £ rounded to the nearest pound.
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
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.
Stanton Logistics Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
Government grants
Grants received in relation to the governments's Coronovirus Job Retention Scheme have been recognised within other operating income. The grant is accounted for on the accruals basis once the related payroll return has been submitted.
Tax
The tax expense represents the sum of the tax currently payable and the deferred tax.
The tax currently payable is based on the taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of the deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of the other assets and liabilities in a transaction that affects neither the tax profit not the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax ia also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset cureent tax assets and libilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
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 |
Vehicle cameras |
2 years straight line |
Plant and equipment |
2 years straight line |
Motor vehicles |
5 years straight line |
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 services performed in the ordinary course of business.
Stanton Logistics Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
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.
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.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
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.
Stanton Logistics Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recoginised as part of the cost of stock or non-current assets.
The cost of any unused holiday entitlement is recogined in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Stanton Logistics Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
Revenue |
The analysis of the company's turnover for the year by market is as follows:
2023 |
2022 |
|
UK |
|
|
The analysis of the company's turnover for the year by class of business is as follows:
2023 |
2022 |
|
General Haulage |
9,299,267 |
9,190,955 |
Groupage |
4,439,761 |
4,676,248 |
Newton Aycliffe |
3,464,833 |
2,244,116 |
Total sales |
17,203,861 |
16,111,319 |
Other operating income |
The analysis of the company's other operating income for the year is as follows:
2023 |
2022 |
|
Government grants |
- |
|
Miscellaneous other operating income |
|
|
|
|
Other gains and losses |
The analysis of the company's other gains and losses for the year is as follows:
2023 |
2022 |
|
Gain/loss on disposal of property, plant and equipment |
|
|
Stanton Logistics Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
Operating profit |
Arrived at after charging/(crediting)
2023 |
2022 |
|
Depreciation expense |
|
|
Profit on disposal of property, plant and equipment |
( |
( |
Auditors remuneration |
8,500 |
8,685 |
Other interest receivable and similar income |
2023 |
2022 |
|
Interest income on bank deposits |
|
|
Dividend income |
- |
|
|
|
Interest payable and similar expenses |
2023 |
2022 |
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
Interest expense on other finance liabilities |
|
|
Other finance costs |
|
|
|
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
2023 |
2022 |
|
Wages and salaries |
|
|
Social security costs |
|
|
Other short-term employee benefits |
|
|
Pension costs, defined contribution scheme |
|
|
Other employee expense |
|
|
|
|
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
Stanton Logistics Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
2023 |
2022 |
|
Administration and support |
|
|
Distribution |
|
|
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
2023 |
2022 |
|
Remuneration |
|
|
Auditors' remuneration |
2023 |
2022 |
|
Audit of the financial statements |
|
|
Taxation |
Tax charged/(credited) in the profit and loss account
2023 |
2022 |
|
Deferred taxation |
||
Arising from origination and reversal of timing differences |
|
|
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2022 - the same as the standard rate of corporation tax in the UK) of
The differences are reconciled below:
2023 |
2022 |
|
Profit before tax |
|
|
Corporation tax at standard rate |
|
|
Other tax effects for reconciliation between accounting profit and tax expense (income) |
( |
|
Total tax charge |
|
|
The future taxable losses carried forward are £1,099,702.56
Stanton Logistics Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Other tangible assets |
Total |
|
Cost or valuation |
||||
At 1 April 2022 |
|
|
|
|
Additions |
|
|
|
|
Disposals |
- |
( |
- |
( |
At 31 March 2023 |
|
|
|
|
Depreciation |
||||
At 1 April 2022 |
|
|
|
|
Charge for the year |
|
|
|
|
Eliminated on disposal |
- |
( |
- |
( |
At 31 March 2023 |
|
|
|
|
Carrying amount |
||||
At 31 March 2023 |
|
|
|
|
At 31 March 2022 |
|
|
|
|
Assets held under finance leases and hire purchase contracts
The depreciation charged during the year was £642,173 (2022: £459,760).
The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:
2023 |
2022 |
|
Plant & Machinery |
2,975,244 |
1,961,989 |
Stanton Logistics Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
Other financial assets (current and non-current) |
Financial assets at cost less impairment |
Total |
|
Non-current financial assets |
||
Cost or valuation |
||
At 1 April 2022 |
25,000 |
25,000 |
At 31 March 2023 |
25,000 |
25,000 |
Impairment |
||
Carrying amount |
||
At 31 March 2023 |
|
25,000 |
The £25,000 asset relates to 5 £1 shares in Pall-Ex Investments Ltd with a subscription value of £5,000 each.
Debtors |
Current |
2023 |
2022 |
Trade debtors |
|
|
Other debtors |
|
|
Prepayments |
|
|
Accrued income |
|
|
|
|
The carrying amount of trade debtors pledged as security for liabilities amounted to £1,374,130 (2022 - £1,779,739).
Cash and cash equivalents |
2023 |
2022 |
|
Cash at bank |
|
|
Stanton Logistics Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
Creditors |
Note |
2023 |
2022 |
|
Due within one year |
|||
Loans and borrowings |
|
|
|
Trade creditors |
|
|
|
Amounts due to related parties |
|
|
|
Social security and other taxes |
|
|
|
Outstanding defined contribution pension costs |
|
|
|
Other payables |
|
|
|
Accrued expenses |
|
|
|
|
|
||
Due after one year |
|||
Loans and borrowings |
|
|
Provisions for liabilities |
Deferred tax |
Total |
|
At 1 April 2022 |
|
|
Increase (decrease) in existing provisions |
|
|
At 31 March 2023 |
|
|
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
Contributions totalling £
Stanton Logistics Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
200 |
|
200 |
|
|
10 |
|
10 |
|
|
|
|
Loans and borrowings |
2023 |
2022 |
|
Non-current loans and borrowings |
||
HP and finance lease liabilities |
|
|
2023 |
2022 |
|
Current loans and borrowings |
||
HP and finance lease liabilities |
|
|
Other borrowings |
|
|
|
|
The finance leases are secured against the assets to which they relate.
Other borrowings
Advances against invoices are secured by a first charge over trade debtors, a personal guarantee of £25,000 from each director and a cross guarantee with 2AM Management Company Ltd. |
Stanton Logistics Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
Commitments |
Capital commitments
The total amount contracted for but not provided in the financial statements was £Nil (2022 - £
Related party transactions |
Summary of transactions with parent
The balance owing to 2AM Management Company Limited at the year end was £240,000 (2022: £0).
Summary of transactions with other related parties
The amount due to Talstaff Limited at the year end was £8,768 (2022: £24,944).
The key management personnel are Mr C McGinley & Mr C Allender.
During the year the group paid £20,000 (2022: £20,000) in sponsorship to McAllen Racing Ltd, a company in which Mr C McGinley and Mr C Allender are Directors. There was no balance outstanding at the year end (2022: £nil).
Parent Company |
The company's immediate parent is
The address of is:
Thurnscoe
Rotherham
South Yorkshire
S63 0JF