1 April 2023 v2024.44.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP080129132023-04-012024-03-31080129132024-03-31080129132023-03-3108012913core:WithinOneYear2024-03-3108012913core:WithinOneYear2023-03-3108012913core:ShareCapital2024-03-3108012913core:ShareCapital2023-03-3108012913core:RetainedEarningsAccumulatedLosses2024-03-3108012913core:RetainedEarningsAccumulatedLosses2023-03-3108012913bus:Director12023-04-012024-03-3108012913bus:RegisteredOffice2023-04-012024-03-3108012913core:PlantMachinery2023-04-012024-03-31080129132022-04-012023-03-3108012913core:PlantMachinery2024-03-3108012913core:PlantMachinery2023-04-0108012913core:PlantMachinery2023-03-310801291312023-04-012024-03-3108012913countries:EnglandWales2023-04-012024-03-3108012913bus:AuditExemptWithAccountantsReport2023-04-012024-03-3108012913bus:PrivateLimitedCompanyLtd2023-04-012024-03-3108012913bus:SmallEntities2023-04-012024-03-3108012913bus:FullAccounts2023-04-012024-03-31
Company registration number:
08012913
Simple Logistic Solutions Ltd
Unaudited Filleted Financial Statements for the year ended
31 March 2024
A&C Chartered Accountants
Marsland Chambers, 1a Marsland Road, Manchester, Cheshire, M33 3HP, United Kingdom
Simple Logistic Solutions Ltd
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of Simple Logistic Solutions Ltd
Year ended
31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the
financial statements
of
Simple Logistic Solutions Ltd
for the year ended
31 March 2024
which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at icaew.com/​regulations.
This report is made solely to the Board of Directors of
Simple Logistic Solutions Ltd
, as a body. My work has been undertaken solely to prepare for your approval the
financial statements
of
Simple Logistic Solutions Ltd
and state those matters that I have agreed to state to the Board of Directors of
Simple Logistic Solutions Ltd
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
Simple Logistic Solutions Ltd
and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that
Simple Logistic Solutions Ltd
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
Simple Logistic Solutions Ltd
. You consider that
Simple Logistic Solutions Ltd
is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Simple Logistic Solutions Ltd. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
A&C Chartered Accountants
Marsland Chambers
1a Marsland Road
Manchester
Cheshire
M33 3HP
United Kingdom
Simple Logistic Solutions Ltd
Statement of Financial Position
31 March 2024
20242023
Note££
Fixed assets    
Tangible assets 5
5,709
 
7,612
 
Current assets    
Debtors 6
109,071
 
185,608
 
Cash at bank and in hand
119,529
 
138,326
 
228,600
 
323,934
 
Creditors: amounts falling due within one year 7
(53,339
)
(74,179
)
Net current assets
175,261
 
249,755
 
Total assets less current liabilities 180,970   257,367  
Provisions for liabilities
(1,426
)
(1,445
)
Net assets
179,544
 
255,922
 
Capital and reserves    
Called up share capital
1
 
1
 
Profit and loss account
179,543
 
255,921
 
Shareholders funds
179,544
 
255,922
 
For the year ending
31 March 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
2 October 2024
, and are signed on behalf of the board by:
M Kirkwood
Director
Company registration number:
08012913
Simple Logistic Solutions Ltd
Notes to the Financial Statements
Year ended
31 March 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Marsland Chambers
,
1a Marsland Rd
,
Sale Moor
,
Cheshire
,
M33 3HP
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
25% reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
1
(2023:
1
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 April 2023
and
31 March 2024
16,983
 
Depreciation  
At
1 April 2023
9,371
 
Charge
1,903
 
At
31 March 2024
11,274
 
Carrying amount  
At
31 March 2024
5,709
 
At 31 March 2023
7,612
 

6 Debtors

20242023
££
Trade debtors
19,699
 
44,725
 
Other debtors
89,372
 
140,883
 
109,071
 
185,608
 

7 Creditors: amounts falling due within one year

20242023
££
Trade creditors
7,485
 
18,838
 
Taxation and social security
38,765
 
49,501
 
Other creditors
7,089
 
5,840
 
53,339
 
74,179
 

8 Director's advances, credit and guarantees

The following advances and credits to director M Kirkwood subsisted during the year ended 31 March 2023 and the year ended 31 March 2024:
Year ended 31 March 2023
Balance at 01/04/2022: £74,853 owed to the company,
£75,000 was paid to the company on 30/09/2022.
£112,276 was loaned to the director in the year.
Balance at 31/03/2023: £112,276 owed to the company.
Year ended 31 March 2024
Balance at 01/04/2023: £112,276 owed to the company.
£44,880 was repaid to the company in the year.
Balance at 31/03/2024: £67,396 owed to the company.
The above loan is unsecured, interest free and repayable on demand