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Registration number: 08177713

Ontour Logistic Service UK Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Ontour Logistic Service UK Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Ontour Logistic Service UK Limited

Company Information

Directors

Mr Joern Olaf Ewert

Mr Peter Helmut Koppermann

Registered office

14 Progress Business Centre
Whittle Parkway
Slough
Berkshire
SL1 6DQ

Accountants

AGHS Accounting & Taxation Services Limited
Chartered Accountants
14 Progress Business Centre
Whittle Parkway
Slough
Berkshire
SL1 6DQ

 

Ontour Logistic Service UK Limited

(Registration number: 08177713)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

238,827

151,430

Current assets

 

Debtors

5

436,604

356,086

Cash at bank and in hand

 

376,541

437,342

 

813,145

793,428

Creditors: Amounts falling due within one year

6

(291,012)

(257,210)

Net current assets

 

522,133

536,218

Total assets less current liabilities

 

760,960

687,648

Creditors: Amounts falling due after more than one year

6

-

(3,085)

Provisions for liabilities

(60,104)

(28,242)

Net assets

 

700,856

656,321

Capital and reserves

 

Called up share capital

7

1,000

1,000

Retained earnings

699,856

655,321

Shareholders' funds

 

700,856

656,321

For the financial 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.

Directors' 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 directors acknowledge their 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.

Approved and authorised by the Board on 12 August 2024 and signed on its behalf by:
 

.........................................
Mr Joern Olaf Ewert
Director

 

Ontour Logistic Service UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
14 Progress Business Centre
Whittle Parkway
Slough
Berkshire
SL1 6DQ

The principal place of business is:
Unit 3, McKay Trading Estate
Blackthorne Road
Poyle
Colnbrook
Berkshire
SL3 0AH

These financial statements were authorised for issue by the Board on 12 August 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 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 financial statements have been prepared using the historical cost convention.

Going concern

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

Revenue recognition

Turnover is measured at the fair value of the consideration receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when consignments are delivered and receipt of payment is reasonably assured.

 

Ontour Logistic Service UK Limited

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

20% reducing balance

Motor vehicles

20% reducing balance

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.

 

Ontour Logistic Service UK Limited

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

Trade debtors

Trade debtors are amounts due from customers for 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Rentals payable under operating leases, net of any lease incentives received, are charged to the Profit and Loss on a straight line basis over the term of the relevant 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.

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.

 

Ontour Logistic Service UK Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2022 - 13).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

155,216

115,904

271,120

Additions

3,617

149,665

153,282

Disposals

-

(17,080)

(17,080)

At 31 December 2023

158,833

248,489

407,322

Depreciation

At 1 January 2023

61,867

57,823

119,690

Charge for the year

19,376

42,032

61,408

Eliminated on disposal

-

(12,603)

(12,603)

At 31 December 2023

81,243

87,252

168,495

Carrying amount

At 31 December 2023

77,590

161,237

238,827

At 31 December 2022

93,349

58,081

151,430

5

Debtors

Current

2023
£

2022
£

Trade debtors

307,459

242,647

Prepayments

98,879

87,177

Other debtors

30,266

26,262

 

436,604

356,086

 

Ontour Logistic Service UK Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

-

15,668

Trade creditors

 

220,962

126,977

Taxation and social security

 

16,386

19,524

Accruals and deferred income

 

43,512

32,373

Other creditors

 

10,152

62,668

 

291,012

257,210

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

-

3,085

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £1,272,451 (2022 - £1,487,538). The commitments, which are in respect of operating leases on company premises, are paid in quarterly instalments.