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REGISTERED NUMBER: 04147413 (England and Wales)















Financial Statements For The Year Ended 31 January 2024

for

Cumbria Logistics Limited

Cumbria Logistics Limited (Registered number: 04147413)






Contents of the Financial Statements
For The Year Ended 31 January 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Cumbria Logistics Limited

Company Information
For The Year Ended 31 January 2024







DIRECTORS: R J S Charnley
Mrs K M Charnley





REGISTERED OFFICE: Shed 8 Site 7
Sandysike Industrial Estate Sandysike
Longtown
Cumbria
CA6 5SR





REGISTERED NUMBER: 04147413 (England and Wales)





ACCOUNTANTS: Robb Ferguson Chartered Accountants
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

Cumbria Logistics Limited (Registered number: 04147413)

Abridged Statement of Financial Position
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,429,790 1,342,083

CURRENT ASSETS
Debtors 1,349,241 1,314,339
Cash at bank and in hand 610,530 403,496
1,959,771 1,717,835
CREDITORS
Amounts falling due within one year 1,540,914 1,322,980
NET CURRENT ASSETS 418,857 394,855
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,848,647

1,736,938

CREDITORS
Amounts falling due after more than one
year

(652,450

)

(723,394

)

PROVISIONS FOR LIABILITIES (315,405 ) (213,048 )
NET ASSETS 880,792 800,496

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 880,790 800,494
880,792 800,496

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Cumbria Logistics Limited (Registered number: 04147413)

Abridged Statement of Financial Position - continued
31 January 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 October 2024 and were signed on its behalf by:





R J S Charnley - Director


Cumbria Logistics Limited (Registered number: 04147413)

Notes to the Financial Statements
For The Year Ended 31 January 2024

1. STATUTORY INFORMATION

Cumbria Logistics 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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.
Fixed plant and equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in . the statement of comprehensive income. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the statement of comprehensive income.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of comprehensive income.

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 statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Cumbria Logistics Limited (Registered number: 04147413)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. 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 shorter.

The interest element of these obligations is charged to the statement of comprehensive income over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the statement of comprehensive income on a straight line basis over the period of the lease.

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 68 (2023 - 66 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023 2,026,390
Additions 510,358
Disposals (81,607 )
At 31 January 2024 2,455,141
DEPRECIATION
At 1 February 2023 684,307
Charge for year 399,893
Eliminated on disposal (58,849 )
At 31 January 2024 1,025,351
NET BOOK VALUE
At 31 January 2024 1,429,790
At 31 January 2023 1,342,083


5. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 361,045 312,228
Between one and five years 639,117 700,061
1,000,162 1,012,289

Cumbria Logistics Limited (Registered number: 04147413)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

5. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 137,386 160,136
Between one and five years 234,468 371,854
371,854 531,990

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 1,000,162 1,012,289