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REGISTERED NUMBER: 07139983 (England and Wales)















G.N.S. LOGISTICS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JANUARY 2024






G.N.S. LOGISTICS LIMITED (REGISTERED NUMBER: 07139983)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G.N.S. LOGISTICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Mr G E Phelps
Mr D A Phelps
Miss D Phelps





SECRETARY:





REGISTERED OFFICE: Hale House, Unit 5
296a Green Lanes
Palmers Green
London
N13 5TW





REGISTERED NUMBER: 07139983 (England and Wales)





ACCOUNTANTS: T. PA Accountancy Services Limited
Hale House
Unit 5
296a Green Lanes
Palmers Green
London
N13 5TW

G.N.S. LOGISTICS LIMITED (REGISTERED NUMBER: 07139983)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 431,897 390,599

CURRENT ASSETS
Debtors 5 183,776 381,563
Cash at bank and in hand 235,431 224,915
419,207 606,478
CREDITORS
Amounts falling due within one year 6 242,645 303,815
NET CURRENT ASSETS 176,562 302,663
TOTAL ASSETS LESS CURRENT
LIABILITIES

608,459

693,262

CREDITORS
Amounts falling due after more than one year 7 131,277 221,979
NET ASSETS 477,182 471,283

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 477,082 471,183
SHAREHOLDERS' FUNDS 477,182 471,283

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

G.N.S. LOGISTICS LIMITED (REGISTERED NUMBER: 07139983)

BALANCE SHEET - continued
31 JANUARY 2024


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 18 April 2024 and were signed on its behalf by:





Mr G E Phelps - Director


G.N.S. LOGISTICS LIMITED (REGISTERED NUMBER: 07139983)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

G.N.S. Logistics 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Computer equipment - 15% on reducing balance

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 10 ) .

G.N.S. LOGISTICS LIMITED (REGISTERED NUMBER: 07139983)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 February 2023 701,385 1,515 702,900
Additions 149,226 - 149,226
At 31 January 2024 850,611 1,515 852,126
DEPRECIATION
At 1 February 2023 311,538 763 312,301
Charge for year 107,815 113 107,928
At 31 January 2024 419,353 876 420,229
NET BOOK VALUE
At 31 January 2024 431,258 639 431,897
At 31 January 2023 389,847 752 390,599

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 180,061 380,848
Prepayments 3,715 715
183,776 381,563

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 122,621 172,538
Corporation tax payable 18,864 7,274
Social security and other taxes 45,079 33,232
VAT 40,268 82,105
Directors' current accounts 143 143
Accrued expenses 15,670 8,523
242,645 303,815

G.N.S. LOGISTICS LIMITED (REGISTERED NUMBER: 07139983)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bounce Back Loan 21,674 32,641
Hire purchase contracts 88,603 109,338
Amounts owed to participating interests 21,000 80,000
131,277 221,979

Amounts falling due in more than five years:

Repayable by instalments
Bounce Back Loan 21,674 32,641

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 February 2023 471,183
Profit for the year 108,951
Dividends (103,052 )
At 31 January 2024 477,082