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REGISTERED NUMBER: 04505375 (England and Wales)





















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

RMG LOGISTICS LIMITED

RMG LOGISTICS LIMITED (REGISTERED NUMBER: 04505375)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RMG LOGISTICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTOR: Mr R M Grainger





REGISTERED OFFICE: Unit 46
Kelvin Way Trading Estate
West Bromwich
West Midlands
B70 7TP





REGISTERED NUMBER: 04505375 (England and Wales)





ACCOUNTANTS: E R Grove & Co Limited
Chartered Accountants
Grove House
Coombs Wood Court
Steel Park Road
Halesowen
West Midlands
B62 8BF

RMG LOGISTICS LIMITED (REGISTERED NUMBER: 04505375)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 112,345 118,434

CURRENT ASSETS
Debtors 5 60,606 92,446
Cash at bank and in hand 28,755 46,001
89,361 138,447
CREDITORS
Amounts falling due within one year 6 73,703 88,836
NET CURRENT ASSETS 15,658 49,611
TOTAL ASSETS LESS CURRENT
LIABILITIES

128,003

168,045

CREDITORS
Amounts falling due after more than one
year

7

(61,136

)

(71,202

)

PROVISIONS FOR LIABILITIES (21,044 ) (29,321 )
NET ASSETS 45,823 67,522

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 45,723 67,422
SHAREHOLDERS' FUNDS 45,823 67,522

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 November 2024 and were signed by:





Mr R M Grainger - Director


RMG LOGISTICS LIMITED (REGISTERED NUMBER: 04505375)

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

1. STATUTORY INFORMATION

RMG 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.

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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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.

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 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2023 37,754 21,103 210,421 269,278
Additions - - 31,259 31,259
Disposals - - (13,500 ) (13,500 )
At 30 September 2024 37,754 21,103 228,180 287,037
DEPRECIATION
At 1 October 2023 33,319 19,291 98,234 150,844
Charge for year 662 465 35,009 36,136
Eliminated on disposal - - (12,288 ) (12,288 )
At 30 September 2024 33,981 19,756 120,955 174,692
NET BOOK VALUE
At 30 September 2024 3,773 1,347 107,225 112,345
At 30 September 2023 4,435 1,812 112,187 118,434

RMG LOGISTICS LIMITED (REGISTERED NUMBER: 04505375)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 October 2023 149,981
Additions 31,259
At 30 September 2024 181,240
DEPRECIATION
At 1 October 2023 47,044
Charge for year 32,895
At 30 September 2024 79,939
NET BOOK VALUE
At 30 September 2024 101,301
At 30 September 2023 102,937

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 54,164 81,571
Other debtors 6,442 10,875
60,606 92,446

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 27,338 31,297
Trade creditors 8,597 10,360
Taxation and social security 23,733 34,767
Other creditors 4,035 2,412
73,703 88,836

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 6,667 16,669
Hire purchase contracts 54,469 54,533
61,136 71,202

RMG LOGISTICS LIMITED (REGISTERED NUMBER: 04505375)

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

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
Mr R M Grainger
Balance outstanding at start of year (529 ) (367 )
Amounts advanced 2,181 2,838
Amounts repaid (3,000 ) (3,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,348 ) (529 )