DARCICA LOGISTICS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2024
Company Registration Number: 12704388
DARCICA LOGISTICS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 9
DARCICA LOGISTICS LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024
DIRECTORS
A R Tattersall
M A Penfold
SECRETARY
The company does not have an appointed secretary
REGISTERED OFFICE
Unit 9
Launton Business Centre
Murdock Road
Bicester
Oxon
OX26 4PP
COMPANY REGISTRATION NUMBER
12704388 England and Wales
DARCICA LOGISTICS LIMITED
BALANCE SHEET
AS AT 30 JUNE 2024
Notes 2024 2023
£ £
FIXED ASSETS
Tangible assets 5 491,176 444,940
CURRENT ASSETS
Debtors 6 633,374 609,652
Cash at bank and in hand 148,520 50,161
781,894 659,813
CREDITORS: Amounts falling due within one year 7 758,526 670,061
NET CURRENT ASSETS / (LIABILITIES) 23,368 (10,248)
TOTAL ASSETS LESS CURRENT LIABILITIES 514,544 434,692
CREDITORS: Amounts falling due after more than one year 8 317,509 349,620
Provisions for liabilities and charges 93,323 84,539
NET ASSETS 103,712 533
CAPITAL AND RESERVES
Called up share capital 102 100
Share premium account 49,998 -
Distributable profit and loss account 53,612 433
SHAREHOLDERS' FUNDS 103,712 533
DARCICA LOGISTICS LIMITED
BALANCE SHEET
AS AT 30 JUNE 2024
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board of directors
A R Tattersall M A Penfold
Director Director
Date approved by the board: 14 January 2025
DARCICA LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
1 GENERAL INFORMATION
Darcica Logistics Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
Unit 9
Launton Business Centre
Murdock Road
Bicester
Oxon
OX26 4PP
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Revenue recognition
Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of services as soon as there is a right to consideration and is determined by reference to the value of the work performed. Turnover is stated net of trade discounts and value added tax.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
Tangible fixed assets
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.
Depreciation has been provided at the following rates so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.
Office equipment 25% Straight line basis
Motor vehicles 15% Straight line basis
Plant and machinery 25% Straight line basis
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.
DARCICA LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
DARCICA LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Leases
Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. Other leases that do not transfer substantially all the risks and rewards of ownership of the leased assets to the company are classified as operating leases.
Assets held under finance leases are recognised in accordance with the company's policy for tangible fixed assets. The corresponding obligations to lessors under finance leases are treated in the balance sheet as a liability. The assets and liabilities under finance leases are recognised at amounts equal to the fair value of the assets, or if lower, the present value of minimum lease payments, determined at the inception of the lease.
Minimum lease payments are apportioned between finance charges and the reduction in the outstanding liabilities using the effective interest method. The finance charge is allocated to each period during the lease so as to produce a constant rate of interest on the remaining balance of the liabilities. Finance charges are recognised in the profit and loss account.
Payments applicable to operating leases are charged against profit on a straight line basis over the lease term.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other taxable profits.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Current and deferred tax assets and liabilities are not discounted.
Borrowing costs
All borrowing costs are recognised in the profit and loss account in the period in which they are incurred.
DARCICA LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Pensions
The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs and other post-retirement benefits is the amount payable in the year. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments in the balance sheet.
Employee benefits
Short term employee benefits are recognised as an expense in the period in which they are incurred.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.
4 EMPLOYEES
The average number of persons employed by the company (including directors) during the year was:
2024 2023
Average number of employees 27 23
DARCICA LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
5 TANGIBLE ASSETS
Office equipment Motor vehicles Plant and machinery Total
£ £ £ £
Cost
At 1 July 2023 25,400 482,034 36,022 543,456
Additions 12,742 144,193 12,905 169,840
Disposals (674) (39,989) - (40,663)
At 30 June 2024 37,468 586,238 48,927 672,633
Accumulated depreciation
At 1 July 2023 6,196 84,047 8,273 98,516
Charge for year 8,240 79,719 10,633 98,592
Disposals (155) (15,496) - (15,651)
At 30 June 2024 14,281 148,270 18,906 181,457
Net book value
At 1 July 2023 19,204 397,987 27,749 444,940
At 30 June 2024 23,187 437,968 30,021 491,176
Included in the above are assets held under finance leases and hire purchase contracts as follows:
Office equipment Motor vehicles Plant and machinery Total
£ £ £ £
Depreciation charge for year - 76,095 - 76,095
Net book value
At 1 July 2023 - 367,453 - 367,453
At 30 June 2024 - 413,033 - 413,033
The finance for assets held under finance leases is secured against the assets to which they relate.
DARCICA LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
6 DEBTORS
2024 2023
£ £
Trade debtors 397,888 394,631
Prepayments and accrued income 53,433 33,051
Other debtors 182,053 181,970
633,374 609,652
7 CREDITORS: Amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 26,284 26,284
Trade creditors 231,934 247,281
Taxation and social security 121,111 28,510
Hire purchase contracts and finance leases 112,745 95,917
Accruals and deferred income 91,757 86,826
Other creditors 174,695 185,243
758,526 670,061
8 CREDITORS: Amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 79,839 106,117
Hire purchase contracts and finance leases 237,670 243,503
317,509 349,620
9 SECURED DEBTS
The company has a floating and fixed charge over all assets held. This charge is held by HSBC UK Bank PLC.
10 CONTINGENCIES AND COMMITMENTS
Other Commitments
Amounts falling due under operating leases: 2024 2023
£ £
In less than one year 59,186 95,917
In more than one but less than five years 91,962 243,503
151,148 339,420
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