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Sameday Logistic Solutions Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

Registration number: 07452775

 

Sameday Logistic Solutions Ltd

Contents

Statement of financial position

1

Notes to the Unaudited Financial Statements

2 to 6

 

Sameday Logistic Solutions Ltd

(Registration number: 07452775)
Statement of financial position as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

152,901

83,833

Current assets

 

Debtors

6

32,599

27,942

Cash at bank and in hand

 

481

6,487

 

33,080

34,429

Creditors: Amounts falling due within one year

7

(240,655)

(135,160)

Net current liabilities

 

(207,575)

(100,731)

Total assets less current liabilities

 

(54,674)

(16,898)

Creditors: Amounts falling due after more than one year

7

(77,801)

(53,652)

Net liabilities

 

(132,475)

(70,550)

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

(132,477)

(70,552)

Shareholders' deficit

 

(132,475)

(70,550)

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 30 January 2025
 

.........................................
Mr N J Oliver
Director

 

Sameday Logistic Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

These financial statements were authorised for issue by the director on 30 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants are recognised in the same period as any underlying expenditure. During the year the entity was in receipt of government grants from the Job Retention Scheme. Income from the Job Retention Scheme was recognised at the same time as the underlying salary expenditure.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

20% Reducing Balance

Motor Vehicles

20% Reducing Balance

Tenants Improvements

10% Straight Line

 

Sameday Logistic Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

 

Sameday Logistic Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

32,622

18,009

5

Tangible assets

Tenants Improvements
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

18,055

61,159

45,500

124,714

Additions

-

36,690

65,000

101,690

At 30 April 2024

18,055

97,849

110,500

226,404

Depreciation

At 1 May 2023

3,612

15,833

21,436

40,881

Charge for the year

1,806

15,170

15,646

32,622

At 30 April 2024

5,418

31,003

37,082

73,503

Carrying amount

At 30 April 2024

12,637

66,846

73,418

152,901

At 30 April 2023

14,443

45,326

24,064

83,833

6

Debtors

2024
£

2023
£

Trade debtors

32,203

26,546

Other debtors

396

1,396

32,599

27,942

 

Sameday Logistic Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

50,928

28,825

Trade creditors

 

19,646

18,115

Taxation and social security

 

14,838

44,282

Accruals and deferred income

 

2,500

2,175

Other creditors

 

152,743

41,763

 

240,655

135,160

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

77,801

53,652

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       
 

Sameday Logistic Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

10,833

20,834

Hire purchase contracts

66,968

32,818

77,801

53,652

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

Hire purchase contracts

40,928

18,825

50,928

28,825

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the balance sheet is £87,091 (2023 - £122,372). This is the total future minimum lease payments under non-cancellable operating leases.

11

Related party transactions

Transactions with the director

2023

At 1 May 2022
£

Repayments by director
£

At 30 April 2023
£

Mr N J Oliver

Director's Loan

6,590

(6,590)

-