REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 4 MAY 2022 TO 31 MAY 2023 |
FOR |
L.I.T. LOGISTICS SOLUTIONS LTD |
REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 4 MAY 2022 TO 31 MAY 2023 |
FOR |
L.I.T. LOGISTICS SOLUTIONS LTD |
L.I.T. LOGISTICS SOLUTIONS LTD (REGISTERED NUMBER: 14086744) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 4 MAY 2022 TO 31 MAY 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
L.I.T. LOGISTICS SOLUTIONS LTD |
COMPANY INFORMATION |
FOR THE PERIOD 4 MAY 2022 TO 31 MAY 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Chartered Accountants and Statutory Auditor |
1 & 2 Mercia Village |
Torwood Close |
Westwood Business Park |
Coventry |
West Midlands |
CV4 8HX |
L.I.T. LOGISTICS SOLUTIONS LTD (REGISTERED NUMBER: 14086744) |
BALANCE SHEET |
31 MAY 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 9 | ( |
) |
( |
) |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
L.I.T. LOGISTICS SOLUTIONS LTD (REGISTERED NUMBER: 14086744) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 4 MAY 2022 TO 31 MAY 2023 |
1. | STATUTORY INFORMATION |
L.I.T. Logistics Solutions Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The principal accounting policies adopted are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Going concern |
The directors have a reasonable expectation that L.I.T Lager & Logistik Holding GmbH has adequate resources to continue to support L.I.T Logistics Limited and, therefore, continues to adopt the going concern basis of accounting on preparing the annual audited financial statements. |
In the course of the preparation of the audited financial statements, the directors have sought comfort from L.I.T Lager & Logistik Holding GmbH as to their continued financial support for a period of 12 months from the date of these financial statements. This support has been confirmed in writing. |
Tangible fixed assets |
Short leasehold | - |
Fixtures and fittings | - |
Taxation |
Taxation for the period 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 tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and 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. |
L.I.T. LOGISTICS SOLUTIONS LTD (REGISTERED NUMBER: 14086744) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 4 MAY 2022 TO 31 MAY 2023 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | and |
leasehold | fittings | Totals |
£ | £ | £ |
COST |
Additions |
At 31 May 2023 |
DEPRECIATION |
Charge for period |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
5. | DEBTORS |
£ |
Amounts falling due within one year: |
VAT |
Called up share capital not paid |
Prepayments |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Accrued expenses |
L.I.T. LOGISTICS SOLUTIONS LTD (REGISTERED NUMBER: 14086744) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 4 MAY 2022 TO 31 MAY 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Amounts owed to group undertakings |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
£ |
Within one year |
Between one and five years |
9. | RESERVES |
Retained |
earnings |
£ |
Deficit for the period | ( |
) |
At 31 May 2023 | ( |
) |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | OTHER FINANCIAL COMMITMENTS |
Total financial commitments which are not included in the balance sheet amount to £4,684 |
12. | RELATED PARTY DISCLOSURES |
During the year, the company paid a total of £67,324.75 for consultancy and travel costs to Ms S L Evans and Logiworx Ltd, which is controlled by Ms S L Evans, who is also a director of the company. |
13. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |