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Registered number: 02992763
A.B.A. Logistics Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
E. H. Taylors
203 London Road
Hadleigh
Benfleet
Essex
SS7 2RD
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02992763
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 15,876 18,437
15,876 18,437
CURRENT ASSETS
Debtors 6 38,875 52,562
Cash at bank and in hand 56 2,525
38,931 55,087
Creditors: Amounts Falling Due Within One Year 7 (35,236 ) (41,430 )
NET CURRENT ASSETS (LIABILITIES) 3,695 13,657
TOTAL ASSETS LESS CURRENT LIABILITIES 19,571 32,094
Creditors: Amounts Falling Due After More Than One Year 8 (14,127 ) (16,032 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (3,016 ) (3,503 )
NET ASSETS 2,428 12,559
CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Profit and Loss Account 1,428 11,559
SHAREHOLDERS' FUNDS 2,428 12,559
Page 1
Page 2
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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Steven Kirk
Director
25th March 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
A.B.A. Logistics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02992763 . The registered office is 203 London Road, Hadleigh, Benfleet, Essex, SS7 2RD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% reducing balance basis
Fixtures & Fittings 25% reducing balance basis
Computer Equipment 25% reducing balance basis
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 2 2
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 110,825
As at 31 December 2023 110,825
Amortisation
As at 1 January 2023 110,825
As at 31 December 2023 110,825
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 21,481 5,746 14,108 41,335
Additions 16,257 - 658 16,915
Disposals (18,912 ) - - (18,912 )
As at 31 December 2023 18,826 5,746 14,766 39,338
Depreciation
As at 1 January 2023 5,370 5,266 12,262 22,898
Provided during the period 7,501 120 626 8,247
Disposals (7,683 ) - - (7,683 )
As at 31 December 2023 5,188 5,386 12,888 23,462
Net Book Value
As at 31 December 2023 13,638 360 1,878 15,876
As at 1 January 2023 16,111 480 1,846 18,437
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 18,910 26,396
Prepayments and accrued income 1,000 1,151
Corporation tax recoverable assets 6,652 6,652
Directors' loan accounts 12,313 18,363
38,875 52,562
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 450 350
Trade creditors 544 2,123
Bank loans and overdrafts 19,335 12,969
Corporation tax - 7,385
VAT 8,180 15,613
Other creditors 3,587 -
Accruals and deferred income 3,140 2,990
35,236 41,430
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 14,127 16,032
14,127 16,032
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 450 350
Later than one year and not later than five years 14,127 16,032
14,577 16,382
14,577 16,382
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Other timing differences 3,016 3,503
11. Share Capital
2023 2022
Allotted, called up and fully paid £ £
1,000 Ordinary Shares of £ 1 each 1,000 1,000
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