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REGISTERED NUMBER: 07197051 (England and Wales)
















NORFOLK LOGISTICS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






NORFOLK LOGISTICS LIMITED (REGISTERED NUMBER: 07197051)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


NORFOLK LOGISTICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: A.J. Stalker





REGISTERED OFFICE: Station Yard
Station Road
Trimley St Mary
Suffolk
IP11 0UB





REGISTERED NUMBER: 07197051 (England and Wales)





ACCOUNTANTS: CR Bland Baker Limited
Chartered Accountants
21 Lodge Lane
Grays
Essex
RM17 5RY

NORFOLK LOGISTICS LIMITED (REGISTERED NUMBER: 07197051)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 526,900 458,571
Investment property 5 1,271,156 1,271,156
1,798,056 1,729,727

CURRENT ASSETS
Debtors 6 589,007 690,548
Cash at bank and in hand 114,686 96,127
703,693 786,675
CREDITORS
Amounts falling due within one year 7 1,038,145 978,236
NET CURRENT LIABILITIES (334,452 ) (191,561 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,463,604

1,538,166

CREDITORS
Amounts falling due after more than one
year

8

(1,082,423

)

(1,166,275

)

PROVISIONS FOR LIABILITIES (98,900 ) (87,000 )
NET ASSETS 282,281 284,891

NORFOLK LOGISTICS LIMITED (REGISTERED NUMBER: 07197051)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 180 180
Retained earnings 282,101 284,711
SHAREHOLDERS' FUNDS 282,281 284,891

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 October 2024 and were signed by:





A.J. Stalker - Director


NORFOLK LOGISTICS LIMITED (REGISTERED NUMBER: 07197051)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Norfolk 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.
Property improvements - 10% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


NORFOLK LOGISTICS LIMITED (REGISTERED NUMBER: 07197051)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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 26 (2023 - 18 ) .

NORFOLK LOGISTICS LIMITED (REGISTERED NUMBER: 07197051)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 11,159 776,435 787,594
Additions 6,200 181,439 187,639
At 31 March 2024 17,359 957,874 975,233
DEPRECIATION
At 1 April 2023 9,491 319,532 329,023
Charge for year 1,553 117,757 119,310
At 31 March 2024 11,044 437,289 448,333
NET BOOK VALUE
At 31 March 2024 6,315 520,585 526,900
At 31 March 2023 1,668 456,903 458,571

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

Plant and
machinery
etc
£   
COST
At 1 April 2023 633,681
Additions 169,900
Transfer to ownership (378,685 )
At 31 March 2024 424,896
DEPRECIATION
At 1 April 2023 64,242
Charge for year 218,188
Transfer to ownership (184,413 )
At 31 March 2024 98,017
NET BOOK VALUE
At 31 March 2024 326,879
At 31 March 2023 569,439

NORFOLK LOGISTICS LIMITED (REGISTERED NUMBER: 07197051)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,271,156
NET BOOK VALUE
At 31 March 2024 1,271,156
At 31 March 2023 1,271,156

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 520,413 613,155
Other debtors 68,594 77,393
589,007 690,548

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 53,653 61,023
Hire purchase contracts 147,420 101,119
Trade creditors 546,025 475,162
Taxation and social security 25,234 23,246
Other creditors 265,813 317,686
1,038,145 978,236

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 1,007,791 1,058,951
Hire purchase contracts 74,632 107,324
1,082,423 1,166,275

NORFOLK LOGISTICS LIMITED (REGISTERED NUMBER: 07197051)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 890,537 852,374

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,061,444 1,119,974
Hire purchase contracts 222,052 208,443
1,283,496 1,328,417

Hire purchase contracts are secured against the assets acquired.

The company has a CBIL loan which is secured under the government backed scheme.
The company also has a mortgage which is secured against the property acquired under the agreement and any other assets of the company.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
A.J. Stalker
Balance outstanding at start of year 9,518 8,549
Amounts advanced 82,883 230,568
Amounts repaid (92,401 ) (229,599 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 9,518

The loan was unsecured, interest free and repayable on demand.