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Registered number: 11980897
Trek Logistics Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Avery Martin Accountants
Gainford House Picktree Lane
Chester Le Street
DH3 3SR
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11980897
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 395,154 419,130
Tangible Assets 5 34,970 39,584
430,124 458,714
CURRENT ASSETS
Stocks 6 496,650 286,283
Debtors 7 411,539 528,144
Cash at bank and in hand 71,543 102,193
979,732 916,620
Creditors: Amounts Falling Due Within One Year 8 (1,255,543 ) (1,258,707 )
NET CURRENT ASSETS (LIABILITIES) (275,811 ) (342,087 )
TOTAL ASSETS LESS CURRENT LIABILITIES 154,313 116,627
NET ASSETS 154,313 116,627
CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 10 203,345 203,345
Profit and Loss Account (49,132 ) (86,818 )
SHAREHOLDERS' FUNDS 154,313 116,627
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Nigel Mothersole
Director
16th January 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Trek Logistics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11980897 . The registered office is Prestige House Valleybridge Road, Clacton-On-Sea, Essex, CO15 4AD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Straight Line
Computer Equipment 20% Straight Line
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 50 (2023: 35)
50 35
Page 3
Page 4
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 June 2023 239,761 203,345 443,106
As at 31 May 2024 239,761 203,345 443,106
Amortisation
As at 1 June 2023 23,976 - 23,976
Provided during the period 23,976 - 23,976
As at 31 May 2024 47,952 - 47,952
Net Book Value
As at 31 May 2024 191,809 203,345 395,154
As at 1 June 2023 215,785 203,345 419,130
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 June 2023 100,201
Additions 19,313
As at 31 May 2024 119,514
Depreciation
As at 1 June 2023 60,617
Provided during the period 23,927
As at 31 May 2024 84,544
Net Book Value
As at 31 May 2024 34,970
As at 1 June 2023 39,584
6. Stocks
2024 2023
£ £
Materials 496,650 286,283
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 332,794 502,091
Prepayments and accrued income 78,745 1,736
Other debtors - 24,317
411,539 528,144
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Page 5
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 120,920 213,466
Bank loans and overdrafts 299,795 80,872
Other taxes and social security 30,010 30,788
VAT 121,143 134,532
Other creditors 217,322 619,813
Accruals and deferred income 27,916 (900 )
Director's loan account 438,437 180,136
1,255,543 1,258,707
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Reserves
Revaluation Reserve
£
As at 1 June 2023 203,345
As at 31 May 2024 203,345
Page 5