1 June 2023 v2024.38.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP125959272023-06-012024-05-31125959272024-05-31125959272023-05-3112595927core:WithinOneYear2024-05-3112595927core:WithinOneYear2023-05-3112595927core:ShareCapital2024-05-3112595927core:ShareCapital2023-05-3112595927core:RetainedEarningsAccumulatedLosses2024-05-3112595927core:RetainedEarningsAccumulatedLosses2023-05-3112595927bus:Director12023-06-012024-05-3112595927bus:RegisteredOffice2023-06-012024-05-3112595927core:MotorVehicles2023-06-012024-05-3112595927core:OfficeEquipment2023-06-012024-05-3112595927core:FurnitureFittings2023-06-012024-05-31125959272022-06-012023-05-3112595927core:PlantMachinery2023-06-0112595927core:PlantMachinery2023-06-012024-05-3112595927core:PlantMachinery2024-05-3112595927core:PlantMachinery2023-05-311259592712023-06-012024-05-3112595927countries:EnglandWales2023-06-012024-05-3112595927bus:AuditExemptWithAccountantsReport2023-06-012024-05-3112595927bus:PrivateLimitedCompanyLtd2023-06-012024-05-3112595927bus:SmallEntities2023-06-012024-05-3112595927bus:FullAccounts2023-06-012024-05-31
Company registration number:
12595927
PB Logistics (Solutions) Ltd
Unaudited Filleted Financial Statements for the year ended
31 May 2024
PB Logistics (Solutions) Ltd
Statement of Financial Position
31 May 2024
20242023
Note££
Fixed assets    
Tangible assets 4
191,541
 
186,413
 
Current assets    
Debtors 5
271,540
 
110,679
 
Cash at bank and in hand
41,126
 
3,079
 
312,666
 
113,758
 
Creditors: amounts falling due within one year 6
(658,571
)
(497,467
)
Net current liabilities
(345,905
)
(383,709
)
Total assets less current liabilities (154,364 ) (197,296 )
Capital and reserves    
Called up share capital
10
 
10
 
Profit and loss account
(154,374
)
(197,306
)
Shareholders deficit
(154,364
)
(197,296
)
For the year ending
31 May 2024
, 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 financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
16 August 2024
, and are signed on behalf of the board by:
M Porter
Director
Company registration number:
12595927
PB Logistics (Solutions) Ltd
Notes to the Financial Statements
Year ended
31 May 2024

1 General information

PB Logistics (Solutions) Ltd is a private company limited by shares and is registered in England and Wales within the United Kingdom. The address of the registered office is
Unit 1 The Way
,
Fowlmere
,
Royston
,
Cambridgeshire
,
SG8 7QS
. This company is not part of a group.

2 Accounting policies

Basis of preparation of financial statements

The have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.
The following principal accounting policies have been applied:

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Motor vehicles
25% reducing balance
Office equipment
33% straight line
Fixtures and fittings
17% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £8,204 (2023 - £8,480). Contributions totalling £26,177 (2023 - £9,866) were payable to the fund at the balance sheet date and are included in creditors.

3 Average number of employees

The average number of persons employed by the company during the year was
16
(2023:
18.00
).

4 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 June 2023
241,918
 
Additions
50,956
 
At
31 May 2024
292,874
 
Depreciation  
At
1 June 2023
55,505
 
Charge
45,828
 
At
31 May 2024
101,333
 
Carrying amount  
At
31 May 2024
191,541
 
At 31 May 2023
186,413
 

5 Debtors

20242023
££
Trade debtors
51,642
 
56,216
 
Other debtors
219,898
 
54,463
 
271,540
 
110,679
 

6 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
14,321
 
11,352
 
Trade creditors
139,849
 
63,927
 
Taxation and social security
426,054
 
290,301
 
Other creditors
78,347
 
131,887
 
658,571
 
497,467
 
Included within creditors are secured debts amounting to £14,321 (2023 - £11,352) which are secured by way of personal guarantee from the directors.