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Registered number: 07560155
Llane Logistics Ltd
Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07560155
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 683 860
683 860
CURRENT ASSETS
Debtors 5 484,210 421,792
Cash at bank and in hand 130,124 82,903
614,334 504,695
Creditors: Amounts Falling Due Within One Year 6 (508,564 ) (375,732 )
NET CURRENT ASSETS (LIABILITIES) 105,770 128,963
TOTAL ASSETS LESS CURRENT LIABILITIES 106,453 129,823
Creditors: Amounts Falling Due After More Than One Year 7 - (16,500 )
NET ASSETS 106,453 113,323
CAPITAL AND RESERVES
Called up share capital 8 3 3
Profit and Loss Account 106,450 113,320
SHAREHOLDERS' FUNDS 106,453 113,323
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For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 A Allen
Director
8 August 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Llane Logistics Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07560155 . The registered office is Donisthorpe Woodlands Centre Ltd, Church Street, Swadlincote, DE12 7PY.
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Freehold 15% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. 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. 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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
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.
2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 6)
5 6
4. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 May 2023 1,950 3,596 5,489 11,035
As at 30 April 2024 1,950 3,596 5,489 11,035
Depreciation
As at 1 May 2023 1,565 3,406 5,204 10,175
Provided during the period 58 48 71 177
As at 30 April 2024 1,623 3,454 5,275 10,352
Net Book Value
As at 30 April 2024 327 142 214 683
As at 1 May 2023 385 190 285 860
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 472,517 410,288
Other debtors 11,693 11,504
484,210 421,792
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 406,105 295,824
Bank loans and overdrafts 12,700 25,000
Other creditors 1,599 1,667
Taxation and social security 88,160 53,241
508,564 375,732
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 16,500
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 3 3
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