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Company Registration No. 07499124 (England and Wales)
ABS Southern Logistics Limited Unaudited accounts for the year ended 31 December 2023
ABS Southern Logistics Limited Unaudited accounts Contents
Page
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ABS Southern Logistics Limited Company Information for the year ended 31 December 2023
Directors
Samuel Barber Robert Guest Alan Guest
Company Number
07499124 (England and Wales)
Registered Office
25 Washington Road Buckland Portsmouth Hampshire PO2 7DH
Accountants
TaxSense Accountants Ltd 203 West Street Fareham Hants PO16 0EN
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ABS Southern Logistics Limited Accountants' report
Accountants' report to the board of directors of ABS Southern Logistics Limited on the preparation of the unaudited statutory accounts for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of ABS Southern Logistics Limited for the year ended 31 December 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of ABS Southern Logistics Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of ABS Southern Logistics Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ABS Southern Logistics Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that ABS Southern Logistics Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of ABS Southern Logistics Limited. You consider that ABS Southern Logistics Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of ABS Southern Logistics Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
TaxSense Accountants Ltd 203 West Street Fareham Hants PO16 0EN 11 March 2024
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ABS Southern Logistics Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
269,528 
226,174 
Current assets
Debtors
107,021 
106,592 
Cash at bank and in hand
26,754 
85,528 
133,775 
192,120 
Creditors: amounts falling due within one year
(139,732)
(151,292)
Net current (liabilities)/assets
(5,957)
40,828 
Total assets less current liabilities
263,571 
267,002 
Creditors: amounts falling due after more than one year
(43,383)
(25,782)
Net assets
220,188 
241,220 
Capital and reserves
Called up share capital
3 
3 
Profit and loss account
220,185 
241,217 
Shareholders' funds
220,188 
241,220 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 March 2023 and were signed on its behalf by
Samuel Barber Director Company Registration No. 07499124
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ABS Southern Logistics Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
ABS Southern Logistics Limited is a private company, limited by shares, registered in England and Wales, registration number 07499124. The registered office is 25 Washington Road, Buckland, Portsmouth, Hampshire, PO2 7DH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20 % Reducing balance
Computer equipment
20 % Reducing balance
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
485,499 
5,458 
490,957 
Additions
96,500 
142 
96,642 
At 31 December 2023
581,999 
5,600 
587,599 
Depreciation
At 1 January 2023
260,422 
4,361 
264,783 
Charge for the year
53,052 
236 
53,288 
At 31 December 2023
313,474 
4,597 
318,071 
Net book value
At 31 December 2023
268,525 
1,003 
269,528 
At 31 December 2022
225,077 
1,097 
226,174 
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ABS Southern Logistics Limited Notes to the Accounts for the year ended 31 December 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
101,271 
100,842 
Other debtors
5,750 
5,750 
107,021 
106,592 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,119 
9,869 
VAT
52,602 
72,916 
Obligations under finance leases and hire purchase contracts
7,920 
- 
Trade creditors
27,558 
27,457 
Taxes and social security
26,115 
22,623 
Other creditors
1,088 
2,456 
Loans from directors
1,183 
6,004 
Accruals
13,147 
9,967 
139,732 
151,292 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
15,663 
25,782 
Obligations under finance leases and hire purchase contracts
27,720 
- 
43,383 
25,782 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
3 Ordinary shares of £1 each
3 
3 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Samuel Barber
Director Loan Account
(5,107)
(57,503)
(62,169)
(441)
Robert Guest
Director Loan Account
(897)
(43,503)
(44,043)
(357)
Alan Guest
Director Loan Account
- 
(43,503)
(43,118)
(385)
(6,004)
(144,509)
(149,330)
(1,183)
10
Average number of employees
During the year the average number of employees was 11 (2022: 12).
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