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
J C Whittington
A M Whittington
SECRETARY
A M Whittington
REGISTERED OFFICE
7 Cornfield Close
Witney
Oxon
OX28 5BU
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 7,646 11,120
Investments 6 537,756 507,230
545,402 518,350
CURRENT ASSETS
Debtors 7 288,693 267,130
Cash at bank and in hand 330,902 69,055
619,595 336,185
CREDITORS: Amounts falling due within one year 8 30,738 29,206
NET CURRENT ASSETS 588,857 306,979
TOTAL ASSETS LESS CURRENT LIABILITIES 1,134,259 825,329
Provisions for liabilities and charges 1,453 2,113
NET ASSETS 1,132,806 823,216
CAPITAL AND RESERVES
Called up share capital 150 150
Distributable profit and loss account 1,132,656 823,066
SHAREHOLDERS' FUNDS 1,132,806 823,216
J WHITTINGTON LOGISTICS LIMITED
BALANCE SHEET
AS AT 30 APRIL 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 April 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
J C Whittington
Director
Date approved by the board: 10 January 2025
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
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 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 Reducing balance basis at 25% per annum
Computer equipment Straight line basis at 33% per annum
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 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.
J WHITTINGTON LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
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.
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.
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 2 2
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 50,227 8,493 58,720
Additions - 1,494 1,494
Disposals (1,145) - (1,145)
At 30 April 2024 49,082 9,987 59,069
Accumulated depreciation and impairments
At 1 May 2023 44,397 3,203 47,600
Charge for year 1,346 3,175 4,521
Disposals (698) - (698)
At 30 April 2024 45,045 6,378 51,423
Net book value
At 1 May 2023 5,830 5,290 11,120
At 30 April 2024 4,037 3,609 7,646
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 1,005,034 507,196 1,512,230
Revaluation - 30,526 30,526
At 30 April 2024 1,005,034 537,722 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 34 507,196 507,230
At 30 April 2024 34 537,722 537,756
7 DEBTORS
2024 2023
£ £
Other debtors 288,693 267,130
8 CREDITORS: Amounts falling due within one year
2024 2023
£ £
Taxation and social security 28,216 25,665
Accruals and deferred income 2,001 2,002
Other creditors 521 1,539
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
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