Registered number
04082735
Blackgate Logistics Limited
Filleted Accounts
31 October 2023
Blackgate Logistics Limited
Registered number: 04082735
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 90,498 91,767
Current assets
Debtors 4 39,095 47,351
Cash at bank and in hand 35,528 11,158
74,623 58,509
Creditors: amounts falling due within one year 5 (101,534) (103,590)
Net current liabilities (26,911) (45,081)
Total assets less current liabilities 63,587 46,686
Creditors: amounts falling due after more than one year 6 (46,506) (44,884)
Provisions for liabilities (14,520) (11,303)
Net assets/(liabilities) 2,561 (9,501)
Capital and reserves
Called up share capital 100 100
Profit and loss account 2,461 (9,601)
Shareholders' funds 2,561 (9,501)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
T West
Director
Approved by the board on 6 February 2024
Blackgate Logistics Limited
Notes to the Accounts
for the year ended 31 October 2023
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:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 November 2022 53,795 22,018 145,735 221,548
Additions - - 47,724 47,724
Disposals - - (29,745) (29,745)
At 31 October 2023 53,795 22,018 163,714 239,527
Depreciation
At 1 November 2022 21,518 20,511 87,752 129,781
Charge for the year 10,759 377 22,616 33,752
On disposals - - (14,504) (14,504)
At 31 October 2023 32,277 20,888 95,864 149,029
Net book value
At 31 October 2023 21,518 1,130 67,850 90,498
At 31 October 2022 32,277 1,507 57,983 91,767
4 Debtors 2023 2022
£ £
Trade debtors 17,212 25,873
Other debtors 21,883 21,478
39,095 47,351
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Obligations under finance lease and hire purchase contracts 27,264 30,695
Trade creditors 28,707 27,720
Taxation and social security costs 33,775 28,604
Accruals 695 550
Other creditors 1,093 6,021
101,534 103,590
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 17,444 27,273
Obligations under finance lease and hire purchase contracts 29,062 17,611
46,506 44,884
7 Controlling party
The company is controlled by Mr T West.
8 Other information
Blackgate Logistics Limited is a private company limited by shares and incorporated in England. Its registered office is:
Flat 4 Westfields
Westfield Road
Burnham on Sea
Somerset
TA8 2AF
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