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REGISTERED NUMBER: SC582777 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Ferguson Logistics Management Limited

Ferguson Logistics Management Limited (Registered number: SC582777)






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


Ferguson Logistics Management Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr E A Ferguson
Mrs A Ferguson





REGISTERED OFFICE: Unit 3 The Springfield Centre
Greenwell Road
Aberdeen
AB12 3AX





REGISTERED NUMBER: SC582777 (Scotland)





ACCOUNTANTS: The Grant Considine Partnership
Chartered Accountants
46 High Street
Banchory
Aberdeenshire
AB31 5SR

Ferguson Logistics Management Limited (Registered number: SC582777)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 97,488 64,681

CURRENT ASSETS
Stocks 16,388 19,360
Debtors 6 211,413 143,532
Cash at bank 70,536 150,466
298,337 313,358
CREDITORS
Amounts falling due within one year 7 188,996 215,102
NET CURRENT ASSETS 109,341 98,256
TOTAL ASSETS LESS CURRENT
LIABILITIES

206,829

162,937

CREDITORS
Amounts falling due after more than one
year

8

(52,417

)

(40,094

)

PROVISIONS FOR LIABILITIES (20,516 ) (9,031 )
NET ASSETS 133,896 113,812

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 133,796 113,712
SHAREHOLDERS' FUNDS 133,896 113,812

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 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.

Ferguson Logistics Management Limited (Registered number: SC582777)

Statement of Financial Position - continued
31 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 Board of Directors and authorised for issue on 5 November 2024 and were signed on its behalf by:





Mr E A Ferguson - Director


Ferguson Logistics Management Limited (Registered number: SC582777)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Ferguson Logistics Management Limited is a private company, limited by shares , registered in Scotland. 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under historical cost convention.

Revenue recognition
Turnover is measured at fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts.

Income is recognised when the service has been provided, when the amount of revenue can be measured reliably and when its probable that future economic benefits will flow to the entity. If a customer has not been invoiced for services provided during the period the income is accrued and included in debtors under prepayments and accrued income.

Tangible fixed assets
Tangible Fixed Assets are stated as cost (or deemed cost) less accumulated depreciation and accumulated impairment losses.

Fixtures and fittings - 33% on reducing balance
Motor vehicles - 25% on reducing balance
Plant and machinery - 25% on reducing balance
Computer equipment - 33% reducing balance
Tenants Improvements - depreciated over the term of the lease

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

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors and
directors' loans.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the
undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.


Ferguson Logistics Management Limited (Registered number: SC582777)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued
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 statement of financial position date.

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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

Ferguson Logistics Management Limited (Registered number: SC582777)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 125,143
Additions 52,458
At 31 March 2024 177,601
DEPRECIATION
At 1 April 2023 60,462
Charge for year 19,651
At 31 March 2024 80,113
NET BOOK VALUE
At 31 March 2024 97,488
At 31 March 2023 64,681

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 192,477 129,721
Other debtors 18,936 13,811
211,413 143,532

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 4,842 4,615
Hire purchase contracts (see note 10) 17,737 5,026
Trade creditors 102,960 117,985
Taxation and social security 37,800 54,821
Other creditors 25,657 32,655
188,996 215,102

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 9) 29,113 34,993
Hire purchase contracts (see note 10) 23,304 5,101
52,417 40,094

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 8,616 15,453

Ferguson Logistics Management Limited (Registered number: SC582777)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 4,842 4,615
Premium Credit Tax Loan 19,068 5,038
23,910 9,653

Amounts falling due between one and two years:
Bank loans - 1-2 years 4,952 4,721

Amounts falling due between two and five years:
Bank loans - 2-5 years 15,545 14,819

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 8,616 15,453

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 17,737 5,026
Between one and five years 23,304 5,101
41,041 10,127

Non-cancellable operating leases
2024 2023
£    £   
Within one year 38,500 -

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 33,955 39,608