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COMPANY REGISTRATION NUMBER: 07385311
ONE Integrated Logistics Limited
Filleted Unaudited Financial Statements
31 March 2024
ONE Integrated Logistics Limited
Statement of Financial Position
31 March 2024
31 Mar 24
30 Sep 22
Note
£
£
£
Fixed assets
Tangible assets
5
1,022
3,584
Current assets
Debtors
6
147,316
151,733
Cash at bank and in hand
2,938
15,804
---------
---------
150,254
167,537
Creditors: amounts falling due within one year
7
150,732
169,346
---------
---------
Net current liabilities
478
1,809
------
------
Total assets less current liabilities
544
1,775
----
------
Net assets
544
1,775
----
------
Capital and reserves
Called up share capital
230
230
Capital redemption reserve
30
30
Profit and loss account
284
1,515
----
------
Shareholders funds
544
1,775
----
------
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 income and retained earnings has not been delivered.
For the period ending 31 March 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 .
ONE Integrated Logistics Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 3 December 2024 , and are signed on behalf of the board by:
Mr AR O'Neill
Director
Company registration number: 07385311
ONE Integrated Logistics Limited
Notes to the Financial Statements
Period from 1 October 2022 to 31 March 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 Suite 1, Hexagon House, 21-23 Gatley Road, Cheadle, Cheshire, SK8 1NZ.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
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.
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:
Fixtures & Fittings
-
33% straight line
Equipment
-
50% straight line
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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 3 (2022: 3 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 October 2022
1,024
11,078
12,102
Additions
2,221
2,221
------
--------
--------
At 31 March 2024
1,024
13,299
14,323
------
--------
--------
Depreciation
At 1 October 2022
1,024
7,494
8,518
Charge for the period
4,783
4,783
------
--------
--------
At 31 March 2024
1,024
12,277
13,301
------
--------
--------
Carrying amount
At 31 March 2024
1,022
1,022
------
--------
--------
At 30 September 2022
3,584
3,584
------
--------
--------
6. Debtors
31 Mar 24
30 Sep 22
£
£
Trade debtors
40,191
64,855
Other debtors
107,125
86,878
---------
---------
147,316
151,733
---------
---------
7. Creditors: amounts falling due within one year
31 Mar 24
30 Sep 22
£
£
Bank loans and overdrafts
65,736
93,366
Trade creditors
51,449
28,690
Corporation tax
30,297
40,678
Other creditors
3,250
6,612
---------
---------
150,732
169,346
---------
---------
Assets held as security formally charged A Mortgage Debenture exists, dated 18 January, 2013 incorporating a fixed and floating charge over all the current and future assets of the company in favour of RBS Invoice Finance Limited.
8. Directors' advances, credits and guarantees
During the period the directors entered into the following advances and credits with the company:
31 Mar 24
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
All Serving Directors
58,134
14,950
73,084
--------
--------
--------
30 Sep 22
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
All Serving Directors
55,309
2,875
58,184
--------
------
--------