IRIS Accounts Production v24.2.0.383 04299595 director 1.2.23 31.1.24 31.1.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure042995952023-01-31042995952024-01-31042995952023-02-012024-01-31042995952022-01-31042995952022-02-012023-01-31042995952023-01-3104299595ns16:EnglandWales2023-02-012024-01-3104299595ns15:PoundSterling2023-02-012024-01-3104299595ns11:Director12023-02-012024-01-3104299595ns11:PrivateLimitedCompanyLtd2023-02-012024-01-3104299595ns11:SmallEntities2023-02-012024-01-3104299595ns11:AuditExempt-NoAccountantsReport2023-02-012024-01-3104299595ns11:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3104299595ns11:SmallCompaniesRegimeForAccounts2023-02-012024-01-3104299595ns11:FullAccounts2023-02-012024-01-310429959512023-02-012024-01-3104299595ns11:RegisteredOffice2023-02-012024-01-3104299595ns6:CurrentFinancialInstruments2024-01-3104299595ns6:CurrentFinancialInstruments2023-01-3104299595ns6:Non-currentFinancialInstruments2024-01-3104299595ns6:Non-currentFinancialInstruments2023-01-3104299595ns6:ShareCapital2024-01-3104299595ns6:ShareCapital2023-01-3104299595ns6:RetainedEarningsAccumulatedLosses2024-01-3104299595ns6:RetainedEarningsAccumulatedLosses2023-01-3104299595ns6:NetGoodwill2023-02-012024-01-3104299595ns6:IntangibleAssetsOtherThanGoodwill2023-02-012024-01-3104299595ns6:NetGoodwill2023-01-3104299595ns6:NetGoodwill2024-01-3104299595ns6:NetGoodwill2023-01-3104299595ns6:LeaseholdImprovements2023-01-3104299595ns6:MotorVehicles2023-01-3104299595ns6:ComputerEquipment2023-01-3104299595ns6:LeaseholdImprovements2023-02-012024-01-3104299595ns6:MotorVehicles2023-02-012024-01-3104299595ns6:ComputerEquipment2023-02-012024-01-3104299595ns6:LeaseholdImprovements2024-01-3104299595ns6:MotorVehicles2024-01-3104299595ns6:ComputerEquipment2024-01-3104299595ns6:LeaseholdImprovements2023-01-3104299595ns6:MotorVehicles2023-01-3104299595ns6:ComputerEquipment2023-01-3104299595ns6:LeasedAssetsHeldAsLessee2023-02-012024-01-3104299595ns6:WithinOneYearns6:CurrentFinancialInstruments2024-01-3104299595ns6:WithinOneYearns6:CurrentFinancialInstruments2023-01-3104299595ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2024-01-3104299595ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2023-01-3104299595ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2024-01-3104299595ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2023-01-3104299595ns6:Secured2024-01-3104299595ns6:Secured2023-01-3104299595ns6:DeferredTaxation2023-01-3104299595ns6:DeferredTaxation2023-02-012024-01-3104299595ns6:DeferredTaxation2024-01-31
REGISTERED NUMBER: 04299595 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

FENN LOGISTICS LIMITED

FENN LOGISTICS LIMITED (REGISTERED NUMBER: 04299595)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FENN LOGISTICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: G L Photi-Major





REGISTERED OFFICE: Chandler House
7 Ferry Road Office Park
Riversway
Preston
Lancashire
PR2 2YH





REGISTERED NUMBER: 04299595 (England and Wales)





ACCOUNTANTS: Wallwork Nelson & Johnson
Chandler House
7 Ferry Road Office Park
Riversway
Preston
Lancashire
PR2 2YH

FENN LOGISTICS LIMITED (REGISTERED NUMBER: 04299595)

BALANCE SHEET
31 JANUARY 2024

31/1/24 31/1/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 523,118 391,314
523,118 391,314

CURRENT ASSETS
Stocks 6 1,200 1,200
Debtors 7 1,543,380 1,532,973
Cash at bank 108,018 21,410
1,652,598 1,555,583
CREDITORS
Amounts falling due within one year 8 852,812 817,654
NET CURRENT ASSETS 799,786 737,929
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,322,904

1,129,243

CREDITORS
Amounts falling due after more than one
year

9

(319,945

)

(252,768

)

PROVISIONS FOR LIABILITIES 11 (128,859 ) (100,850 )
NET ASSETS 874,100 775,625

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 874,000 775,525
SHAREHOLDERS' FUNDS 874,100 775,625

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 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.

FENN LOGISTICS LIMITED (REGISTERED NUMBER: 04299595)

BALANCE SHEET - 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.

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 29 October 2024 and were signed by:





G L Photi-Major - Director


FENN LOGISTICS LIMITED (REGISTERED NUMBER: 04299595)

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

1. STATUTORY INFORMATION

Fenn 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.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of five years.

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.

Tangible fixed assets
The director considers that motor vehicles and trailers to be depreciated at variable rates on a reducing balance basis. This change in accounting estimate is necessary to more accurately reflect the useful economic life of such assets.

Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment in value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


FENN LOGISTICS LIMITED (REGISTERED NUMBER: 04299595)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 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 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets obtained under hire purchase contracts are capitalised in the balance sheet and are depreciated over their useful economic lives.

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.

Going concern
The Director believes that the company has sufficient trade and financial resources to continue in operational existence for the foreseeable future. Thus the going concern basis of accounting in preparing the annual financial statements has been adopted.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 24 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 15,000
AMORTISATION
At 1 February 2023
and 31 January 2024 15,000
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

FENN LOGISTICS LIMITED (REGISTERED NUMBER: 04299595)

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

5. TANGIBLE FIXED ASSETS
Improvements
to Motor Computer
property vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2023 3,225 710,313 23,620 737,158
Additions - 231,996 6,462 238,458
Disposals - (56,956 ) - (56,956 )
At 31 January 2024 3,225 885,353 30,082 918,660
DEPRECIATION
At 1 February 2023 1,686 331,056 13,102 345,844
Charge for year 645 100,009 4,576 105,230
Eliminated on disposal - (55,532 ) - (55,532 )
At 31 January 2024 2,331 375,533 17,678 395,542
NET BOOK VALUE
At 31 January 2024 894 509,820 12,404 523,118
At 31 January 2023 1,539 379,257 10,518 391,314

Included within the above totals are fixed assets which are held under hire purchase and finance lease contracts. As at the 31 January 2024 they had a net book value of £496,233 (2023: £308,645).

6. STOCKS
31/1/24 31/1/23
£    £   
Stocks 1,200 1,200

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Trade debtors 777,162 795,759
Amounts due from group undertakings 677,080 648,533
Prepayments and accrued income 89,138 88,681
1,543,380 1,532,973

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Bank loans and overdrafts 6,084 5,934
Hire purchase contracts and finance leases 149,259 88,570
Trade creditors 350,508 345,532
Tax 16,837 40,225
Social security and other taxes 90,522 125,161
Other creditors 1,596 7,156
Factoring account 204,798 163,439
Accrued expenses 33,208 41,637
852,812 817,654

FENN LOGISTICS LIMITED (REGISTERED NUMBER: 04299595)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/1/24 31/1/23
£    £   
Bank loans - 1-2 years 6,765 6,084
Bank loans - 2-5 years 2,104 8,869
Hire purchase contracts and finance leases 311,076 237,815
319,945 252,768

10. SECURED DEBTS

The following secured debts are included within creditors:

31/1/24 31/1/23
£    £   
HP and finance lease contracts 460,335 116,385
Factoring account and EFG loan 201,973 163,346
662,308 279,731

11. PROVISIONS FOR LIABILITIES
31/1/24 31/1/23
£    £   
Deferred tax 128,859 100,850

Deferred
tax
£   
Balance at 1 February 2023 100,850
Charge to Income Statement during year 28,009
Balance at 31 January 2024 128,859