Registered number
10467392
Park Avenue Logistics Ltd
Unaudited Filleted Accounts
29 November 2022
Park Avenue Logistics Ltd
Registered number: 10467392
Balance Sheet
as at 29 November 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 5,500 8,367
Current assets
Debtors 4 2,774 7,229
Cash at bank and in hand 6,970 13,481
9,744 20,710
Creditors: amounts falling due within one year 5 (7,244) (8,966)
Net current assets 2,500 11,744
Total assets less current liabilities 8,000 20,111
Creditors: amounts falling due after more than one year 6 (6,657) (9,054)
Provisions for liabilities (1,045) (1,590)
Net assets 298 9,467
Capital and reserves
Called up share capital 2 2
Profit and loss account 296 9,465
Shareholder's funds 298 9,467
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Watkins
Director
Approved by the board on 29 November 2023
Park Avenue Logistics Ltd
Notes to the Accounts
for the period from 1 December 2021 to 29 November 2022
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles over 4 years
Office equipment over 3 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 1 2
3 Tangible fixed assets
Office equipment Motor vehicles Total
£ £ £
Cost
At 1 December 2021 350 11,000 11,350
At 29 November 2022 350 11,000 11,350
Depreciation
At 1 December 2021 233 2,750 2,983
Charge for the period 117 2,750 2,867
At 29 November 2022 350 5,500 5,850
Net book value
At 29 November 2022 - 5,500 5,500
At 30 November 2021 117 8,250 8,367
4 Debtors 2022 2021
£ £
Trade debtors 522 4,977
Other debtors 2,252 2,252
2,774 7,229
5 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 2,662 2,662
Taxation and social security costs 3,483 5,516
Other creditors 1,099 788
7,244 8,966
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 6,657 9,054
7 Other information
Park Avenue Logistics Ltd is a private company limited by shares and incorporated in England. Its registered office is:
358 Oaktree Crescent
Bradley Stoke
Bristol
BS32 9AJ
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