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Registered number: 10527627
Liphook Logistics Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Yates & Co (Accountants) Limited
Chartered Certified Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10527627
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,000 4,000
Tangible Assets 5 188,200 194,998
191,200 198,998
CURRENT ASSETS
Debtors 6 198,312 303,389
Cash at bank and in hand 438,169 430,073
636,481 733,462
Creditors: Amounts Falling Due Within One Year 7 (327,738 ) (420,070 )
NET CURRENT ASSETS (LIABILITIES) 308,743 313,392
TOTAL ASSETS LESS CURRENT LIABILITIES 499,943 512,390
Creditors: Amounts Falling Due After More Than One Year 8 (14,167 ) (45,255 )
NET ASSETS 485,776 467,135
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 485,774 467,133
SHAREHOLDERS' FUNDS 485,776 467,135
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Maria Knight
Director
23/09/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Liphook Logistics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10527627 . The registered office is Elm Grove Farm Burgh Hill Road, Bramshott, Liphook, Hants, GU30 7RQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover 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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on reducing balance
Motor Vehicles 20% on cost
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the 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 a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 4 4
Drivers 13 13
17 17
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 10,000
As at 31 December 2023 10,000
Amortisation
As at 1 January 2023 6,000
Provided during the period 1,000
As at 31 December 2023 7,000
...CONTINUED
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Net Book Value
As at 31 December 2023 3,000
As at 1 January 2023 4,000
5. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 January 2023 13,748 337,192 350,940
Additions - 63,000 63,000
Disposals - (23,500 ) (23,500 )
As at 31 December 2023 13,748 376,692 390,440
Depreciation
As at 1 January 2023 4,960 150,982 155,942
Provided during the period 2,197 61,101 63,298
Disposals - (17,000 ) (17,000 )
As at 31 December 2023 7,157 195,083 202,240
Net Book Value
As at 31 December 2023 6,591 181,609 188,200
As at 1 January 2023 8,788 186,210 194,998
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2023 2022
£ £
Motor Vehicles 57,333 102,639
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 196,712 293,462
Other debtors 1,600 9,927
198,312 303,389
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 24,309 44,459
Trade creditors 160,583 253,462
Bank loans and overdrafts 10,000 12,339
Other creditors 55,926 23,846
Taxation and social security 76,920 85,964
327,738 420,070
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts - 23,344
Bank loans 14,167 21,911
14,167 45,255
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
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