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REGISTERED NUMBER: 09513589 (England and Wales)













Financial Statements

For The Year Ended 31 March 2024

for

Tie Specialist Logistics Ltd

Tie Specialist Logistics Ltd (Registered number: 09513589)






Contents of the Financial Statements
For The Year Ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Tie Specialist Logistics Ltd

Company Information
For The Year Ended 31 March 2024







DIRECTOR: S Patrick





SECRETARY: S Patrick





REGISTERED OFFICE: 11 Newtoft Business Park
Newtoft
MARKET RASEN
LN8 3WA





REGISTERED NUMBER: 09513589 (England and Wales)





ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN

Tie Specialist Logistics Ltd (Registered number: 09513589)

Abridged Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 571,338 225,093

CURRENT ASSETS
Debtors 366,887 422,651
Cash at bank 156,549 126,679
523,436 549,330
CREDITORS
Amounts falling due within one year 190,228 189,825
NET CURRENT ASSETS 333,208 359,505
TOTAL ASSETS LESS CURRENT
LIABILITIES

904,546

584,598

CREDITORS
Amounts falling due after more than
one year

152,654

77,614
NET ASSETS 751,892 506,984

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 751,891 506,983
751,892 506,984

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Tie Specialist Logistics Ltd (Registered number: 09513589)

Abridged Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 September 2024 and were signed by:





S Patrick - Director


Tie Specialist Logistics Ltd (Registered number: 09513589)

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

Tie Specialist Logistics Ltd 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 the cost less estimated residual value of each asset over its estimated useful life.

Improvement to property - 20% on straight line
Plant and machinery - 20% on straight line
Fixtures and fittings - 20% on straight line
Motor vehicles - 25% on straight line
Computer equipment - 20% on straight line

Financial instruments
Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised costs. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments and are measured at amortised costs. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.


Tie Specialist Logistics Ltd (Registered number: 09513589)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

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 14 (2023 - 10 ) .

Tie Specialist Logistics Ltd (Registered number: 09513589)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 423,052
Additions 532,740
Disposals (154,664 )
At 31 March 2024 801,128
DEPRECIATION
At 1 April 2023 197,959
Charge for year 129,115
Eliminated on disposal (97,284 )
At 31 March 2024 229,790
NET BOOK VALUE
At 31 March 2024 571,338
At 31 March 2023 225,093

5. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 259,377 -

The hire purchase agreements are secured against the assets to which they relate.

6. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements 99,578 -

Tie Specialist Logistics Ltd (Registered number: 09513589)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
S Patrick
Balance outstanding at start of year 101,812 101,565
Amounts advanced 37,578 45,247
Amounts repaid (99,148 ) (45,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 40,242 101,812

Interest at 2.25% (2023: 2.00%) has been charged on unsecured director's advances.