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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
Page
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Central Hub Logistics Limited Company Information for the year ended 29 February 2024
Directors
Diane Bridgen Stephen Bridgen
Secretary
RT Bailey
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
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Central Hub Logistics Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
586,176 
752,959 
Current assets
Debtors
277,948 
242,435 
Cash at bank and in hand
40,909 
32,824 
318,857 
275,259 
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)
Capital and reserves
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
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Central Hub Logistics Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
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 taxation
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.
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Central Hub Logistics Limited Notes to the Accounts for the year ended 29 February 2024
Leased assets
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 
£ 
Cost
At 1 March 2023
20,000 
At 29 February 2024
20,000 
Amortisation
At 1 March 2023
20,000 
At 29 February 2024
20,000 
Net book value
At 29 February 2024
- 
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 
Depreciation
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 
Net book value
At 29 February 2024
534,394 
51,782 
586,176 
At 28 February 2023
693,076 
59,883 
752,959 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
277,948 
198,882 
Other debtors
- 
43,553 
277,948 
242,435 
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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 
Other creditors
- 
150,010 
Loans from directors
201,926 
- 
857,743 
981,383 
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 
£ 
£ 
Bank loans
9,891 
51,288 
Obligations under finance leases and hire purchase contracts
73,588 
96,481 
83,479 
147,769 
The obligations falling due under finance leases and hire purchase contracts are secured.
9
Share capital
2024 
2023 
£ 
£ 
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 
130 
130 
10
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Stephen Bridgen
Advance to Director
43,553 
- 
43,553 
- 
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).
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