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REGISTERED NUMBER: 08789787 (England and Wales)












3TC LOGISTICS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






3TC LOGISTICS LIMITED (REGISTERED NUMBER: 08789787)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


3TC LOGISTICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: T A Gover
S G Gritt





REGISTERED OFFICE: Highland House
Mayflower Close
Chandlers Ford
Eastleigh
Hampshire
SO53 4AR





REGISTERED NUMBER: 08789787 (England and Wales)

3TC LOGISTICS LIMITED (REGISTERED NUMBER: 08789787)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £ £
FIXED ASSETS
Tangible assets 4 88,710 48,788

CURRENT ASSETS
Debtors 5 1,011,252 1,299,652
Cash at bank 425,516 480,974
1,436,768 1,780,626
CREDITORS
Amounts falling due within one year 6 (951,676 ) (1,224,740 )
NET CURRENT ASSETS 485,092 555,886
TOTAL ASSETS LESS CURRENT
LIABILITIES

573,802

604,674

CREDITORS
Amounts falling due after more than one
year

7

(70,701

)

(63,929

)

PROVISIONS FOR LIABILITIES (14,060 ) (8,285 )
NET ASSETS 489,041 532,460

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 488,741 532,160
489,041 532,460

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

3TC LOGISTICS LIMITED (REGISTERED NUMBER: 08789787)

BALANCE SHEET - continued
30 NOVEMBER 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 February 2024 and were signed on its behalf by:





T A Gover - Director


3TC LOGISTICS LIMITED (REGISTERED NUMBER: 08789787)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

3TC Logistics Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% Reducing balance
Fixtures and fittings - Straight line over 5 years
Motor vehicles - 25% Reducing balance
Computer equipment - Straight line over 5 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3TC LOGISTICS LIMITED (REGISTERED NUMBER: 08789787)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued

Financial assets
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 December 2022 60,400 7,577 29,014 3,600 100,591
Additions 7,495 - 67,305 1,870 76,670
Disposals (17,500 ) - - - (17,500 )
At 30 November 2023 50,395 7,577 96,319 5,470 159,761
DEPRECIATION
At 1 December 2022 32,181 3,168 13,482 2,972 51,803
Charge for year 8,929 1,515 20,709 635 31,788
Eliminated on disposal (12,540 ) - - - (12,540 )
At 30 November 2023 28,570 4,683 34,191 3,607 71,051
NET BOOK VALUE
At 30 November 2023 21,825 2,894 62,128 1,863 88,710
At 30 November 2022 28,219 4,409 15,532 628 48,788

The net book value of tangible fixed assets includes £ 69,977 (2022 - £ 32,610 ) in respect of assets held under hire purchase contracts.

3TC LOGISTICS LIMITED (REGISTERED NUMBER: 08789787)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 721,809 1,143,597
Amounts owed by group undertakings 35,000 35,000
Other debtors 254,443 121,055
1,011,252 1,299,652

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 20,000 20,000
Hire purchase contracts 25,842 12,812
Trade creditors 816,233 1,077,523
Taxation and social security 82,801 105,006
Other creditors 6,800 9,399
951,676 1,224,740

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans 31,666 51,667
Hire purchase contracts 39,035 12,262
70,701 63,929

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Hire purchase contracts 64,877 25,074

The hire purchase contract is secured against the asset to which it relates.

9. OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company had future commitments under operating leases which totalled £nil (2022 - £161).