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REGISTERED NUMBER: 14086744 (England and Wales)















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: Ms S L Evans
C Durach



REGISTERED OFFICE: 1&2 Mercia Business Village
Torwood Close
Westwood Business Park
Coventry
West Midlands
CV4 8HX



REGISTERED NUMBER: 14086744 (England and Wales)



SENIOR STATUTORY AUDITOR: Muhammed Shabbir



AUDITORS: Armstrongs Accountancy Ltd
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 4 152,642

CURRENT ASSETS
Debtors 5 681,637
Cash at bank 21,486
703,123
CREDITORS
Amounts falling due within one year 6 135,481
NET CURRENT ASSETS 567,642
TOTAL ASSETS LESS CURRENT
LIABILITIES

720,284

CREDITORS
Amounts falling due after more than one
year

7

887,281
NET LIABILITIES (166,997 )

CAPITAL AND RESERVES
Called up share capital 1
Retained earnings 9 (166,998 )
(166,997 )

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 December 2023 and were signed on its behalf by:





C Durach - Director


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 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Over the period of lease
Fixtures and fittings - 20% on reducing balance

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 115,633 49,273 164,906
At 31 May 2023 115,633 49,273 164,906
DEPRECIATION
Charge for period 2,409 9,855 12,264
At 31 May 2023 2,409 9,855 12,264
NET BOOK VALUE
At 31 May 2023 113,224 39,418 152,642

5. DEBTORS
£   
Amounts falling due within one year:
VAT 57,681
Called up share capital not paid 1
Prepayments 131,246
188,928

Amounts falling due after more than one year:
Other debtors 492,709

Aggregate amounts 681,637

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 132,730
Accrued expenses 2,751
135,481

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 887,281

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
£   
Within one year 985,417
Between one and five years 1,888,716
2,874,133

9. RESERVES
Retained
earnings
£   

Deficit for the period (166,998 )
At 31 May 2023 (166,998 )

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Muhammed Shabbir (Senior Statutory Auditor)
for and on behalf of Armstrongs Accountancy Ltd

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 L.I.T. LAGER & LOGISTIK HOLDING GMBH.