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REGISTERED NUMBER: 11764441 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Last Mile Logistic Solutions Limited

Last Mile Logistic Solutions Limited (Registered number: 11764441)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Last Mile Logistic Solutions Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: C Hardy
P Lambert
C Wilson





REGISTERED OFFICE: Haverton Hill Offshore Base
Haverton Hill
Stockton on Tees
TS23 1PZ





REGISTERED NUMBER: 11764441 (England and Wales)





ACCOUNTANTS: Anderson Barrowcliff LLP
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

Last Mile Logistic Solutions Limited (Registered number: 11764441)

Balance Sheet
31 December 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 333 683
Tangible assets 5 270,366 206,913
270,699 207,596

CURRENT ASSETS
Stocks 4,825 5,800
Debtors 6 652,776 281,070
Cash at bank 26,780 24,560
684,381 311,430
CREDITORS
Amounts falling due within one year 7 952,684 547,288
NET CURRENT LIABILITIES (268,303 ) (235,858 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,396

(28,262

)

CREDITORS
Amounts falling due after more than one
year

8

283,126

332,542
NET LIABILITIES (280,730 ) (360,804 )

CAPITAL AND RESERVES
Called up share capital 10 38 3
Share premium 75,670 -
Retained earnings (356,438 ) (360,807 )
SHAREHOLDERS' FUNDS (280,730 ) (360,804 )

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

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

Last Mile Logistic Solutions Limited (Registered number: 11764441)

Balance Sheet - continued
31 December 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 23 April 2024 and were signed on its behalf by:





C Hardy - Director


Last Mile Logistic Solutions Limited (Registered number: 11764441)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Last Mile Logistic Solutions 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.

The accounts have been prepared on a going concern basis despite the balance sheet showing negative distributable reserves of £280,730. The ability of the company to continue as a going concern depends on the future trading prospects and continued financial support of the directors who have confirmed that they will continue to support the company for the foreseeable future and will not look to withdraw amounts owed to them to the detriment of the company's ability to trade.

If the company were unable to continue as a going concern, the financial statements would have to be adjusted to write down assets to their recoverable amounts, and to provide for any additional losses or liabilities that might arise and to reclassify fixed assets and long term creditors as current assets and current liabilities. No such adjustments have been made in these financial statements.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on cost
Plant and machinery - 25% on cost
Motor vehicles - Straight line over 6 years
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Last Mile Logistic Solutions Limited (Registered number: 11764441)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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
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 and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss in other administrative expenses.

Grant income
Grants of a capital nature are recognised as income using the performance model.

The business received government grants in respect of the Business Investment and Growth Fund scheme and Covid support schemes.. These grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attached to them. The grants were recognised using the accrual model.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 88 (2022 - 77 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 1,000
AMORTISATION
At 1 January 2023 317
Charge for year 350
At 31 December 2023 667
NET BOOK VALUE
At 31 December 2023 333
At 31 December 2022 683

Last Mile Logistic Solutions Limited (Registered number: 11764441)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 6,200 12,485 195,000 2,957 216,642
Additions - 32,453 63,200 2,189 97,842
At 31 December 2023 6,200 44,938 258,200 5,146 314,484
DEPRECIATION
At 1 January 2023 - - 7,703 2,026 9,729
Charge for year 1,550 7,720 23,889 1,230 34,389
At 31 December 2023 1,550 7,720 31,592 3,256 44,118
NET BOOK VALUE
At 31 December 2023 4,650 37,218 226,608 1,890 270,366
At 31 December 2022 6,200 12,485 187,297 931 206,913

Included in the fixed asset register are assets costing £244,700 with a net book value of £213,941 which are held under hire purchase agreements.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade debtors 514,380 233,366
Other debtors 138,396 47,704
652,776 281,070

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Bank loans and overdrafts 38,452 51,101
Hire purchase contracts 64,227 47,027
Trade creditors 220,244 104,065
Taxation and social security 199,147 142,286
Other creditors 430,614 202,809
952,684 547,288

Last Mile Logistic Solutions Limited (Registered number: 11764441)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
as restated
£    £   
Bank loans 111,177 147,298
Hire purchase contracts 65,314 84,774
Other creditors 106,635 100,470
283,126 332,542

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
as restated
£    £   
Bank loans 149,629 198,399

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: as restated
£    £   
3,805 Ordinary £0.01 38 3

On 3 February 2023, there was a sub-division of the 3 ordinary shares of £1 each to 300 ordinary shares of 1p each. During the year, the company issued 2,700 ordinary shares of 1p each, and then a further 805 ordinary shares with a nominal value of 1p each, of which those were purchased at £94 per share. The additional amount paid is reflected in the share premium account.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 31 December 2023, a director had an overdrawn loan account of £16,845 which is shown in other debtors and was repaid on 7 February 2024.