Company Registration No. 6080193 (England and Wales)
Central Hub Logistics Limited
Unaudited accounts
for the year ended 29 February 2024
Central Hub Logistics Limited
Unaudited accounts
Contents
Central Hub Logistics Limited
Company Information
for the year ended 29 February 2024
Directors
Diane Bridgen
Stephen Bridgen
Company Number
6080193 (England and Wales)
Registered Office
30 Armstrong, Off Apollo,
Lichfield Industrial Estate
Tamworth, Staffs
B79 7TA
Accountants
Practical Accounting Limited
50 Ashby Road
Tamworth
Staffordshire
B79 8AD
Central Hub Logistics Limited
Statement of financial position
as at 29 February 2024
Tangible assets
586,176
752,959
Cash at bank and in hand
40,909
32,824
Creditors: amounts falling due within one year
(857,743)
(981,383)
Net current liabilities
(538,886)
(706,124)
Total assets less current liabilities
47,290
46,835
Creditors: amounts falling due after more than one year
(83,479)
(147,769)
Provisions for liabilities
Deferred tax
(45,000)
(45,000)
Net liabilities
(81,189)
(145,934)
Called up share capital
130
130
Profit and loss account
(81,319)
(146,064)
Shareholders' funds
(81,189)
(145,934)
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2024 and were signed on its behalf by
Stephen Bridgen
Director
Company Registration No. 6080193
Central Hub Logistics Limited
Notes to the Accounts
for the year ended 29 February 2024
Central Hub Logistics Limited is a private company, limited by shares, registered in England and Wales, registration number 6080193. The registered office is 30 Armstrong, Off Apollo,, Lichfield Industrial Estate, Tamworth, Staffs, B79 7TA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% reducing balance
Fixtures & fittings
15% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Central Hub Logistics Limited
Notes to the Accounts
for the year ended 29 February 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Goodwill
At 29 February 2024
20,000
At 29 February 2024
20,000
5
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 March 2023
1,356,179
120,552
1,476,731
Additions
73,001
1,000
74,001
Disposals
(145,094)
-
(145,094)
At 29 February 2024
1,284,086
121,552
1,405,638
At 1 March 2023
663,103
60,669
723,772
Charge for the year
153,780
9,101
162,881
On disposals
(67,191)
-
(67,191)
At 29 February 2024
749,692
69,770
819,462
At 29 February 2024
534,394
51,782
586,176
At 28 February 2023
693,076
59,883
752,959
Amounts falling due within one year
Trade debtors
277,948
198,882
Central Hub Logistics Limited
Notes to the Accounts
for the year ended 29 February 2024
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
48,709
115,375
Obligations under finance leases and hire purchase contracts
94,826
177,724
Trade creditors
267,536
281,561
Taxes and social security
244,746
256,713
Loans from directors
201,926
-
The obligations falling due under finance leases and hire purchase contracts are secured.
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
73,588
96,481
The obligations falling due under finance leases and hire purchase contracts are secured.
Allotted, called up and fully paid:
110 Ordinary Shares "A" and "B" of £1 each
110
110
20 Redeemable Preference Shares of £1 each
20
20
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Advance to Director
43,553
-
43,553
-
During the year the advance made to S Bridgen in the previous year has been repaid.Interest has been charged at statutory rates
11
Average number of employees
During the year the average number of employees was 43 (2023: 40).