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Registration number: 13045009

SPH Logistics Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 November 2023

 

SPH Logistics Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

SPH Logistics Ltd

Company Information

Director

Mrs Olga Hristova

Registered office

5 North Court
Armstrong Road
Maidstone
Kent
ME15 6JZ

Accountants

Stones Accountancy Limited
Chartered Accountants
5 North Court
Armstrong Road
Maidstone
Kent
ME15 6JZ

 

SPH Logistics Ltd

(Registration number: 13045009)
Abridged Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

44,160

55,200

Current assets

 

Debtors

5

80,478

41,670

Cash at bank and in hand

 

6,931

21,492

 

87,409

63,162

Creditors: Amounts falling due within one year

(144,465)

(114,093)

Net current liabilities

 

(57,056)

(50,931)

Total assets less current liabilities

 

(12,896)

4,269

Accruals and deferred income

 

(388)

(897)

Net (liabilities)/assets

 

(13,284)

3,372

Capital and reserves

 

Called up share capital

6

1

1

Retained earnings

(13,285)

3,371

Shareholders' (deficit)/funds

 

(13,284)

3,372

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 March 2024
 

 

SPH Logistics Ltd

(Registration number: 13045009)
Abridged Balance Sheet as at 30 November 2023

.........................................
Mrs Olga Hristova
Director

 

SPH Logistics Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
5 North Court
Armstrong Road
Maidstone
Kent
ME15 6JZ
United Kingdom

These financial statements were authorised for issue by the director on 20 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

SPH Logistics Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

SPH Logistics Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2022

69,000

69,000

At 30 November 2023

69,000

69,000

Depreciation

At 1 December 2022

13,800

13,800

Charge for the year

11,040

11,040

At 30 November 2023

24,840

24,840

Carrying amount

At 30 November 2023

44,160

44,160

At 30 November 2022

55,200

55,200

5

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       
 

SPH Logistics Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

7

Dividends

2023

2022

£

£

Interim dividend of £34,000.00 (2022 - £21,500.00) per ordinary share

34,000

21,500

 

 
 

SPH Logistics Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

8

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£