2023-01-012023-12-312023-12-31false05044926TAURUS LOGISTICS 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TAURUS LOGISTICS LIMITED

Registered Number
05044926
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

TAURUS LOGISTICS LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

WILLIS, Sian Rosemary

Registered Address

18 Parc Erissey Industrial Estate,
New Portreath Road
Redruth
TR16 4HZ

Registered Number

05044926 (England and Wales)
TAURUS LOGISTICS LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3364,715154,234
364,715154,234
Current assets
Stocks7,5638,705
Debtors1,017,145752,345
Cash at bank and on hand137,39020,044
1,162,098781,094
Creditors amounts falling due within one year(610,437)(404,845)
Net current assets (liabilities)551,661376,249
Total assets less current liabilities916,376530,483
Creditors amounts falling due after one year(287,132)(41,414)
Provisions for liabilities(101,219)(29,304)
Net assets528,025459,765
Capital and reserves
Called up share capital22
Profit and loss account528,023459,763
Shareholders' funds528,025459,765
The financial statements were approved and authorised for issue by the Director on 19 September 2024, and are signed on its behalf by:
WILLIS, Sian Rosemary
Director
Registered Company No. 05044926
TAURUS LOGISTICS LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
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.
Revenue from rendering of services
Revenue 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.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery25-
Fixtures and fittings-4
Vehicles33-
Office Equipment-4
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20232022
Average number of employees during the year4744
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 January 23517,066
Additions373,301
Disposals(16,500)
At 31 December 23874,209
Depreciation and impairment
At 01 January 23362,832
Charge for year163,162
On disposals(16,842)
At 31 December 23509,494
Net book value
At 31 December 23364,715
At 31 December 22154,234
4.Fixed asset investments
5.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts287,13219,753