J WHITTINGTON LOGISTICS LIMITED | |||||||||||
UNAUDITED FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED | |||||||||||
30 APRIL 2024 | |||||||||||
Company Registration Number: 05421790 | |||||||||||
J WHITTINGTON LOGISTICS LIMITED | |||||||||||
UNAUDITED FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 30 APRIL 2024 | |||||||||||
CONTENTS | PAGES | ||||||||||
Company information | 1 | ||||||||||
Balance sheet | 2 to 3 | ||||||||||
Notes to the financial statements | 4 to 9 | ||||||||||
J WHITTINGTON LOGISTICS LIMITED | |||||||||||
COMPANY INFORMATION | |||||||||||
FOR THE YEAR ENDED 30 APRIL 2024 | |||||||||||
DIRECTORS | |||||||||||
SECRETARY | |||||||||||
REGISTERED OFFICE | |||||||||||
COMPANY REGISTRATION NUMBER | |||||||||||
05421790 England and Wales | |||||||||||
J WHITTINGTON LOGISTICS LIMITED | |||||||||||
BALANCE SHEET | |||||||||||
AS AT 30 APRIL 2024 | |||||||||||
Notes | 2024 | 2023 | |||||||||
£ | £ | ||||||||||
FIXED ASSETS | |||||||||||
Tangible assets | 5 | ||||||||||
Investments | 6 | ||||||||||
CURRENT ASSETS | |||||||||||
Debtors | 7 | ||||||||||
Cash at bank and in hand | |||||||||||
CREDITORS: Amounts falling due within one year | 8 | ||||||||||
NET CURRENT ASSETS | |||||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | |||||||||||
Provisions for liabilities and charges | |||||||||||
NET ASSETS | |||||||||||
CAPITAL AND RESERVES | |||||||||||
Called up share capital | |||||||||||
Distributable profit and loss account | |||||||||||
SHAREHOLDERS' FUNDS | |||||||||||
J WHITTINGTON LOGISTICS LIMITED | |||||||||||
BALANCE SHEET | |||||||||||
AS AT 30 APRIL 2024 | |||||||||||
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 | |||||||||||
J C Whittington | |||||||||||
Director | |||||||||||
Date approved by the board: |
|||||||||||
J WHITTINGTON LOGISTICS LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 30 APRIL 2024 | |||||||||||
1 | GENERAL INFORMATION | ||||||||||
J Whittington Logistics Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is: | |||||||||||
7 Cornfield Close | |||||||||||
Witney | |||||||||||
Oxon | |||||||||||
OX28 5BU | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||||||||
Basis of preparation of financial statements | |||||||||||
Revenue recognition | |||||||||||
Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of rail consultancy 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 rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives. | |||||||||||
Furniture, fittings, tools and equipment | |||||||||||
Computer equipment | |||||||||||
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. | |||||||||||
J WHITTINGTON LOGISTICS LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 30 APRIL 2024 | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) | ||||||||||
Investments | |||||||||||
Investments in associates are shown at cost less accumulated impairment losses. |
Investments in partnerships are shown at cost and updated annually to reflect undrawn profits or losses earned within the respective partnerships. |
Financial Instruments | |||||||||||
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. | |||||||||||
J WHITTINGTON LOGISTICS LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 30 APRIL 2024 | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) | ||||||||||
Creditors | |||||||||||
Taxation | |||||||||||
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. | |||||||||||
3 | CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS | ||||||||||
The directors have made key assumptions in determination of the carrying value of its investments when undertaking an impairment review. | |||||||||||
4 | EMPLOYEES | ||||||||||
The average number of persons employed by the company (including directors) during the year was: | |||||||||||
2024 | 2023 | ||||||||||
Average number of employees | |||||||||||
J WHITTINGTON LOGISTICS LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 30 APRIL 2024 | |||||||||||
5 | TANGIBLE ASSETS | ||||||||||
Furniture, fittings, tools and equipment | Computer equipment | Total | |||||||||
£ | £ | £ | |||||||||
Cost | |||||||||||
At 1 May 2023 | |||||||||||
Additions | - | ||||||||||
Disposals | ( |
- | ( |
||||||||
At 30 April 2024 | |||||||||||
Accumulated depreciation and impairments | |||||||||||
At 1 May 2023 | |||||||||||
Charge for year | |||||||||||
Disposals | ( |
- | ( |
||||||||
At 30 April 2024 | |||||||||||
Net book value | |||||||||||
At 1 May 2023 | |||||||||||
At 30 April 2024 | |||||||||||
J WHITTINGTON LOGISTICS LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 30 APRIL 2024 | |||||||||||
6 | FIXED ASSET INVESTMENTS | ||||||||||
Investment in associates | Total other investments | Total | |||||||||
£ | £ | £ | |||||||||
Cost | |||||||||||
At 1 May 2023 | 1,512,230 | ||||||||||
Revaluation | - | 30,526 | |||||||||
At 30 April 2024 | 1,542,756 | ||||||||||
Accumulated amortisation and impairments | |||||||||||
At 1 May 2023 | 1,005,000 | - | 1,005,000 | ||||||||
At 30 April 2024 | 1,005,000 | - | 1,005,000 | ||||||||
Net book value | |||||||||||
At 1 May 2023 | 507,230 | ||||||||||
At 30 April 2024 | 537,756 | ||||||||||
7 | DEBTORS | ||||||||||
2024 | 2023 | ||||||||||
£ | £ | ||||||||||
Other debtors | |||||||||||
8 | CREDITORS: Amounts falling due within one year | ||||||||||
2024 | 2023 | ||||||||||
£ | £ | ||||||||||
Taxation and social security | |||||||||||
Accruals and deferred income | |||||||||||
Other creditors | |||||||||||
30,738 | 29,206 | ||||||||||
J WHITTINGTON LOGISTICS LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 30 APRIL 2024 | |||||||||||
9 | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES | ||||||||||
The following directors' advances, credits and guarantees took place during the year: | |||||||||||
Balance at 1 May 2023 | Amounts advanced | Amounts repaid | Amounts written off or waived | Balance at 30 April 2024 | |||||||
£ | £ | £ | £ | £ | |||||||
J C and A M Whittington | 194,422 | 189,105 | 136,392 | - | 247,135 | ||||||
194,422 | 189,105 | 136,392 | - | 247,135 | |||||||
10 | RELATED PARTY TRANSACTIONS | ||||||||||
During the year, the following transactions with related parties took place: | |||||||||||
3ECO Ltd | |||||||||||
Connected Company | 2024 | 2023 | |||||||||
£ | £ | ||||||||||
Advances to company | Advances have been made to the connected company which are repayable on demand. No interest has been charged on these advances. At the year end, the connected company owed the company the following amount: | - | 52,316 | ||||||||
Dividends paid from company | 370,000 | 103,700 | |||||||||
Subcontracting services to company | 51,085 | 38,121 | |||||||||
Amounts owed from company in respect of subcontracting services at year end: | - | 2,305 | |||||||||