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REGISTERED NUMBER: 05893296 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

K.G. LOGISTICS LIMITED

K.G. LOGISTICS LIMITED (REGISTERED NUMBER: 05893296)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


K.G. LOGISTICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: Mr G White
Mr R A Broad





REGISTERED OFFICE: 139-141 Watling Street
Gillingham
Kent
ME7 2YY





REGISTERED NUMBER: 05893296 (England and Wales)





ACCOUNTANTS: Stephen Hill Partnership Limited
139-141 Watling Street
Gillingham
Kent
ME7 2YY

K.G. LOGISTICS LIMITED (REGISTERED NUMBER: 05893296)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 225,101 267,725

CURRENT ASSETS
Debtors 5 4,503,204 4,717,940
Cash at bank and in hand 96,737 232,594
4,599,941 4,950,534
CREDITORS
Amounts falling due within one year 6 1,481,572 2,675,849
NET CURRENT ASSETS 3,118,369 2,274,685
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,343,470

2,542,410

CREDITORS
Amounts falling due after more than one
year

7

(156,670

)

(106,256

)

PROVISIONS FOR LIABILITIES (23,622 ) (22,450 )
NET ASSETS 3,163,178 2,413,704

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,163,078 2,413,604
SHAREHOLDERS' FUNDS 3,163,178 2,413,704

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

K.G. LOGISTICS LIMITED (REGISTERED NUMBER: 05893296)

BALANCE SHEET - continued
31 JULY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 March 2024 and were signed on its behalf by:





Mr R A Broad - Director


K.G. LOGISTICS LIMITED (REGISTERED NUMBER: 05893296)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

K.G. 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 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off 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% on reducing balance
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer and office equipment - 33% on cost

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying value amount and are recognised in the Income Statement.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks and other third parties.

Taxation
Taxation for the year 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.


K.G. LOGISTICS LIMITED (REGISTERED NUMBER: 05893296)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued
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 year 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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions.

Creditors
Short term creditors are measured at the transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 16 ) .

K.G. LOGISTICS LIMITED (REGISTERED NUMBER: 05893296)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

4. TANGIBLE FIXED ASSETS
Computer
Fixtures and
Plant and and Motor office
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2022 11,428 21,978 407,733 27,854 468,993
Additions - - 35,795 4,451 40,246
Disposals - - (49,680 ) - (49,680 )
At 31 July 2023 11,428 21,978 393,848 32,305 459,559
DEPRECIATION
At 1 August 2022 10,570 9,841 156,220 24,637 201,268
Charge for year 215 4,129 63,646 3,091 71,081
Eliminated on disposal - - (37,891 ) - (37,891 )
At 31 July 2023 10,785 13,970 181,975 27,728 234,458
NET BOOK VALUE
At 31 July 2023 643 8,008 211,873 4,577 225,101
At 31 July 2022 858 12,137 251,513 3,217 267,725

Fixed assets, included in the above, which are held under finance leases are as follows:
Motor
vehicles
£   
COST
At 1 August 2022 322,720
Transfer to ownership (52,630 )
At 31 July 2023 270,090
DEPRECIATION
At 1 August 2022 97,949
Charge for year 50,642
Transfer to ownership (30,427 )
At 31 July 2023 118,164
NET BOOK VALUE
At 31 July 2023 151,926
At 31 July 2022 224,771

K.G. LOGISTICS LIMITED (REGISTERED NUMBER: 05893296)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 548,703 1,279,147
Other debtors 3,944,501 3,031,944
Directors' current account 10,000 358,684
VAT - 42,021
Prepayments - 6,144
4,503,204 4,717,940

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 135,338
Finance leases 25,582 18,244
Trade creditors 900,529 1,978,523
Tax (21,709 ) -
Social security and other taxes 417,553 385,624
VAT 16,329 -
Other creditors 134,159 150,008
Accrued expenses 9,129 8,112
1,481,572 2,675,849

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Finance leases 156,670 106,256

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
£    £   
Mr R A Broad
Balance outstanding at start of year 179,342 149,192
Amounts advanced 5,675 179,342
Amounts repaid (179,342 ) (149,192 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,675 179,342

Mr G White
Balance outstanding at start of year 179,342 149,192
Amounts advanced 5,675 179,342
Amounts repaid (179,342 ) (149,192 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,675 179,342