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REGISTERED NUMBER: 06414781 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MARCH 2024

FOR

PROMOLOGISTICS LIMITED

PROMOLOGISTICS LIMITED (REGISTERED NUMBER: 06414781)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROMOLOGISTICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 MARCH 2024







DIRECTOR: J G Lamb





REGISTERED OFFICE: Unit 10
Goldsworth Industrial Estate
Kestrel Way
Woking
GU21 3BA





REGISTERED NUMBER: 06414781 (England and Wales)





ACCOUNTANTS: Holloway Cook Limited
Epping House
55 Russell Street
Reading
Berkshire
RG1 7XG

PROMOLOGISTICS LIMITED (REGISTERED NUMBER: 06414781)

BALANCE SHEET
30 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 11,542 15,389
Tangible assets 5 166,602 205,460
178,144 220,849

CURRENT ASSETS
Debtors 6 467,239 533,688
Cash at bank 264,275 190,265
731,514 723,953
CREDITORS
Amounts falling due within one year 7 306,556 342,150
NET CURRENT ASSETS 424,958 381,803
TOTAL ASSETS LESS CURRENT
LIABILITIES

603,102

602,652

CREDITORS
Amounts falling due after more than one
year

8

(132,553

)

(192,593

)

PROVISIONS FOR LIABILITIES (41,651 ) (39,603 )
NET ASSETS 428,898 370,456

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 428,897 370,455
428,898 370,456

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PROMOLOGISTICS LIMITED (REGISTERED NUMBER: 06414781)

BALANCE SHEET - continued
30 MARCH 2024


The 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.

The financial statements were approved by the director and authorised for issue on 13 September 2024 and were signed by:





J G Lamb - Director


PROMOLOGISTICS LIMITED (REGISTERED NUMBER: 06414781)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024

1. STATUTORY INFORMATION

Promologistics Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Taxation
Taxation for the year 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 year 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PROMOLOGISTICS LIMITED (REGISTERED NUMBER: 06414781)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2024

2. ACCOUNTING POLICIES - continued

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 year was 13 (2023 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 31 March 2023
and 30 March 2024 20,500
AMORTISATION
At 31 March 2023 5,111
Charge for year 3,847
At 30 March 2024 8,958
NET BOOK VALUE
At 30 March 2024 11,542
At 30 March 2023 15,389

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 31 March 2023 39,906 520,366 560,272
Additions - 68,504 68,504
Disposals - (161,249 ) (161,249 )
At 30 March 2024 39,906 427,621 467,527
DEPRECIATION
At 31 March 2023 39,884 314,928 354,812
Charge for year 22 53,869 53,891
Eliminated on disposal - (107,778 ) (107,778 )
At 30 March 2024 39,906 261,019 300,925
NET BOOK VALUE
At 30 March 2024 - 166,602 166,602
At 30 March 2023 22 205,438 205,460

PROMOLOGISTICS LIMITED (REGISTERED NUMBER: 06414781)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 31 March 2023
and 30 March 2024 148,378
DEPRECIATION
At 31 March 2023 36,993
Charge for year 27,846
At 30 March 2024 64,839
NET BOOK VALUE
At 30 March 2024 83,539
At 30 March 2023 111,385

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 128,959 208,319
Other debtors 338,280 325,369
467,239 533,688

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 35,351 36,664
Hire purchase contracts (see note 9) 22,528 21,886
Trade creditors 60,489 198,102
Taxation and social security 98,370 81,598
Other creditors 89,818 3,900
306,556 342,150

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 47,813 86,556
Hire purchase contracts (see note 9) 84,740 106,037
132,553 192,593

PROMOLOGISTICS LIMITED (REGISTERED NUMBER: 06414781)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2024

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 22,528 21,886
Between one and five years 84,740 106,037
107,268 127,923

Operating lease agreements exist, which state that £154,000 is payable per year until 2031.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 30 March 2024 and the period ended 30 March 2023:

2024 2023
£    £   
J G Lamb
Balance outstanding at start of year 77,261 77,263
Amounts advanced 23,410 101,038
Amounts repaid - (101,040 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 100,671 77,261