1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-28 Sage Accounts Production Advanced 2023 - FRS102_2023 30,890 30,890 7,079 7,079 23,811 4,524 310 xbrli:pure xbrli:shares iso4217:GBP 14967394 2023-06-28 2024-06-30 14967394 2024-06-30 14967394 2023-06-27 14967394 core:MotorVehicles 2023-06-28 2024-06-30 14967394 bus:OrdinaryShareClass1 2023-06-28 2024-06-30 14967394 bus:OrdinaryShareClass2 2023-06-28 2024-06-30 14967394 bus:Director1 2023-06-28 2024-06-30 14967394 core:MotorVehicles 2024-06-30 14967394 core:DeferredTaxation 2023-06-28 2024-06-30 14967394 core:WithinOneYear 2024-06-30 14967394 core:ShareCapital 2024-06-30 14967394 core:RetainedEarningsAccumulatedLosses 2024-06-30 14967394 core:AcceleratedTaxDepreciationDeferredTax 2024-06-30 14967394 core:DeferredTaxation 2024-06-30 14967394 bus:SmallEntities 2023-06-28 2024-06-30 14967394 bus:AuditExemptWithAccountantsReport 2023-06-28 2024-06-30 14967394 bus:SmallCompaniesRegimeForAccounts 2023-06-28 2024-06-30 14967394 bus:PrivateLimitedCompanyLtd 2023-06-28 2024-06-30 14967394 bus:FullAccounts 2023-06-28 2024-06-30 14967394 bus:OrdinaryShareClass1 2024-06-30 14967394 bus:OrdinaryShareClass2 2024-06-30 14967394 bus:AllOrdinaryShares 2024-06-30
COMPANY REGISTRATION NUMBER: 14967394
ON THYME LOGISTICS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 June 2024
ON THYME LOGISTICS LIMITED
STATEMENT OF FINANCIAL POSITION
30 June 2024
30 Jun 24
Note
£
£
FIXED ASSETS
Tangible assets
5
23,811
CURRENT ASSETS
Debtors
6
3,685
Cash at bank and in hand
8,247
---------
11,932
CREDITORS: amounts falling due within one year
7
34,018
---------
NET CURRENT LIABILITIES
22,086
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,725
PROVISIONS
Taxation including deferred tax
8
310
-------
NET ASSETS
1,415
-------
ON THYME LOGISTICS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 June 2024
30 Jun 24
Note
£
£
CAPITAL AND RESERVES
Called up share capital
10
100
Profit and loss account
1,315
-------
SHAREHOLDERS FUNDS
1,415
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 14 November 2024 , and are signed on behalf of the board by:
A L Matthews
Director
Company registration number: 14967394
ON THYME LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 28 JUNE 2023 TO 30 JUNE 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Equitable House, 55 Pellon Lane, Halifax, HX1 5SP, West Yorkshire.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for freight transport services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to 1 .
5. TANGIBLE ASSETS
Motor vehicles
£
Cost
At 28 June 2023
Additions
30,890
---------
At 30 June 2024
30,890
---------
Depreciation
At 28 June 2023
Charge for the period
7,079
---------
At 30 June 2024
7,079
---------
Carrying amount
At 30 June 2024
23,811
---------
6. DEBTORS
30 Jun 24
£
Trade debtors
3,252
Other debtors
433
-------
3,685
-------
7. CREDITORS: amounts falling due within one year
30 Jun 24
£
Social security and other taxes
1,288
Other creditors
32,730
---------
34,018
---------
8. PROVISIONS
Deferred tax (note 9)
£
At 28 June 2023
Additions
4,524
Losses utilised
( 4,214)
-------
At 30 June 2024
310
-------
9. DEFERRED TAX
The deferred tax included in the statement of financial position is as follows:
30 Jun 24
£
Included in provisions (note 8)
310
----
The deferred tax account consists of the tax effect of timing differences in respect of:
30 Jun 24
£
Accelerated capital allowances
310
----
10. CALLED UP SHARE CAPITAL
Issued, called up and fully paid
30 Jun 24
No.
£
Ordinary A shares of £ 1 each
50
50
Ordinary B shares of £ 1 each
50
50
----
----
100
100
----
----
The Ordinary A and B £1 shares were issued at par on incorporation, 28 June 2023. The shares rank pari pasu.
11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
During the year the directors had an unsecured interest free loan with the company. The directors loan account was in credit throughout the year and is repayable on demand.