2023-01-012023-12-312023-12-31false08335046DNT Logistics 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DNT Logistics Limited

Registered Number
08335046
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

DNT Logistics Limited
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

Mr D Simpson

Registered Address

7 Leysdown Avenue
Bexleyheath
DA7 6AZ

Registered Number

08335046 (England and Wales)
DNT Logistics Limited
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets33,036500
Tangible assets4130,05599,813
133,091100,313
Current assets
Debtors5101,68586,362
Cash at bank and on hand117,205147,844
218,890234,206
Creditors amounts falling due within one year6(142,015)(136,646)
Net current assets (liabilities)76,87597,560
Total assets less current liabilities209,966197,873
Creditors amounts falling due after one year7(48,486)(64,733)
Provisions for liabilities8(23,185)(11,422)
Net assets138,295121,718
Capital and reserves
Called up share capital100100
Profit and loss account138,195121,618
Shareholders' funds138,295121,718
The financial statements were approved and authorised for issue by the Director on 23 September 2024, and are signed on its behalf by:
Mr D Simpson
Director
Registered Company No. 08335046
DNT 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 accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
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.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Goodwill
Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Fixtures and fittings25
Vehicles25
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.
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 year75
3.Intangible assets

Goodwill

Other

Total

£££
Cost or valuation
At 01 January 2312,50083313,333
Additions-2,9102,910
At 31 December 2312,5003,74316,243
Amortisation and impairment
At 01 January 2312,50033312,833
Charge for year-374374
At 31 December 2312,50070713,207
Net book value
At 31 December 23-3,0363,036
At 31 December 22-500500
4.Tangible fixed assets

Vehicles

Fixtures & fittings

Total

£££
Cost or valuation
At 01 January 23300,90912,864313,773
Additions72,99060473,594
At 31 December 23373,89913,468387,367
Depreciation and impairment
At 01 January 23204,2509,710213,960
Charge for year42,41294043,352
At 31 December 23246,66210,650257,312
Net book value
At 31 December 23127,2372,818130,055
At 31 December 2296,6593,15499,813
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables99,10982,752
Other debtors1-
Prepayments and accrued income2,5753,610
Total101,68586,362
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables4,4443,866
Bank borrowings and overdrafts5,4725,472
Taxation and social security89,14789,828
Finance lease and HP contracts37,13231,303
Other creditors2,4003,086
Accrued liabilities and deferred income3,4203,091
Total142,015136,646
The hire purchase obligations due within and after more than one year are secured against the assets to which they relate.
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts29,42635,110
Other creditors19,06029,623
Total48,48664,733
8.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)23,18511,422
Total23,18511,422
9.Directors advances, credits and guarantees
At the year end the company owed the director £1,922 (2022 - £1,933) by way of their director's current account.
10.Description of reasons for any change in chosen formats of the financial statments
These financial statements for the year ended 31 December 2023 are the first financial statements of DNT Logistics Limited prepared in accordance with FRS 102.The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 January 2022. Equity as reported under previous UK GAAP has decreased by £11,422 due to adjustments arising from transaction to FRS 102 relating to deferred tax, equity reported under FRS 102 is £121,718. Profit as reported under previous UK GAAP has decreased by £11,422 due to adjustments arising from transaction to FRS 102 relating to deferred tax.