REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
1ST JUNE 2023 TO 31ST DECEMBER 2023 |
FOR |
L.I.T. LOGISTICS SOLUTIONS LTD |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
1ST JUNE 2023 TO 31ST DECEMBER 2023 |
FOR |
L.I.T. LOGISTICS SOLUTIONS LTD |
L.I.T. LOGISTICS SOLUTIONS LTD (REGISTERED NUMBER: 14086744) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1ST JUNE 2023 TO 31ST DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
L.I.T. LOGISTICS SOLUTIONS LTD |
COMPANY INFORMATION |
FOR THE PERIOD 1ST JUNE 2023 TO 31ST DECEMBER 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
INDEPENDENT AUDITORS: |
Chartered Accountants and Statutory Auditor |
1 & 2 Mercia Village |
Torwood Close |
Westwood Business Park |
Coventry |
West Midlands |
CV4 8HX |
L.I.T. LOGISTICS SOLUTIONS LTD (REGISTERED NUMBER: 14086744) |
BALANCE SHEET |
31ST DECEMBER 2023 |
2023 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 9 | ( |
) | ( |
) |
( |
) | ( |
) |
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 |
L.I.T. LOGISTICS SOLUTIONS LTD (REGISTERED NUMBER: 14086744) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1ST JUNE 2023 TO 31ST DECEMBER 2023 |
1. | STATUTORY INFORMATION |
L.I.T. Logistics Solutions Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The principal accounting policies adopted are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Going concern |
The directors have a reasonable expectation that L.I.T Lager & Logistik Holding GmbH has adequate resources to continue to support L.I.T Logistics Limited and, therefore, continues to adopt the going concern basis of accounting on preparing the annual audited financial statements. |
In the course of the preparation of the audited financial statements, the directors have sought comfort from L.I.T Lager & Logistik Holding GmbH as to their continued financial support for a period of 12 months from the date of these financial statements. This support has been confirmed in writing. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: |
Rendering of services |
When the outcome of a transaction can be estimated reliably, turnover from logistics contracts is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to |
Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable. |
Tangible fixed assets |
Short leasehold | - |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
L.I.T. LOGISTICS SOLUTIONS LTD (REGISTERED NUMBER: 14086744) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1ST JUNE 2023 TO 31ST DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period 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 period 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. |
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 period was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | Plant and | and | Computer |
leasehold | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1st June 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31st December 2023 |
DEPRECIATION |
At 1st June 2023 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) |
At 31st December 2023 |
NET BOOK VALUE |
At 31st December 2023 |
At 31st May 2023 |
L.I.T. LOGISTICS SOLUTIONS LTD (REGISTERED NUMBER: 14086744) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1ST JUNE 2023 TO 31ST DECEMBER 2023 |
5. | DEBTORS |
2023 | 2023 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2023 |
£ | £ |
Amounts owed to group undertakings |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2023 |
£ | £ |
Within one year |
Between one and five years |
9. | RESERVES |
Retained |
earnings |
£ |
At 1st June 2023 | ( |
) |
Deficit for the period | ( |
) |
At 31st December 2023 | ( |
) |
L.I.T. LOGISTICS SOLUTIONS LTD (REGISTERED NUMBER: 14086744) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1ST JUNE 2023 TO 31ST DECEMBER 2023 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Auditors' Report was unqualified. |
for and on behalf of |
11. | RELATED PARTY DISCLOSURES |
During the period, the company paid a total of £86,333 (period to 31.05.23 - £67,325) for consultancy and travel costs to Logiworx Ltd, which is controlled by Ms S L Evans, who is also a director of the company as at the balance sheet date. |
12. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |
Registered office address: Otto-Hahn-Straße 18, 26919 Brake/Deutschland, a copy of the group accounts can be obtained at the registered office address. |