Acorah Software Products - Accounts Production 16.1.300 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 05893296 Mr R A Broad Mr G White iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05893296 2023-07-31 05893296 2024-07-31 05893296 2023-08-01 2024-07-31 05893296 frs-core:CurrentFinancialInstruments 2024-07-31 05893296 frs-core:Non-currentFinancialInstruments 2024-07-31 05893296 frs-core:BetweenOneFiveYears 2024-07-31 05893296 frs-core:ComputerEquipment 2024-07-31 05893296 frs-core:ComputerEquipment 2023-08-01 2024-07-31 05893296 frs-core:ComputerEquipment 2023-07-31 05893296 frs-core:FurnitureFittings 2024-07-31 05893296 frs-core:FurnitureFittings 2023-08-01 2024-07-31 05893296 frs-core:FurnitureFittings 2023-07-31 05893296 frs-core:MotorVehicles 2024-07-31 05893296 frs-core:MotorVehicles 2023-08-01 2024-07-31 05893296 frs-core:MotorVehicles 2023-07-31 05893296 frs-core:PlantMachinery 2024-07-31 05893296 frs-core:PlantMachinery 2023-08-01 2024-07-31 05893296 frs-core:PlantMachinery 2023-07-31 05893296 frs-core:WithinOneYear 2024-07-31 05893296 frs-core:ShareCapital 2024-07-31 05893296 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 05893296 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 05893296 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 05893296 frs-bus:SmallEntities 2023-08-01 2024-07-31 05893296 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 05893296 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 05893296 frs-core:CostValuation 2023-07-31 05893296 frs-core:AdditionsToInvestments 2024-07-31 05893296 frs-core:CostValuation 2024-07-31 05893296 frs-core:ProvisionsForImpairmentInvestments 2023-07-31 05893296 frs-core:ProvisionsForImpairmentInvestments 2024-07-31 05893296 frs-bus:Director1 2023-08-01 2024-07-31 05893296 frs-bus:Director1 2023-07-31 05893296 frs-bus:Director1 2024-07-31 05893296 frs-bus:Director2 2023-08-01 2024-07-31 05893296 frs-bus:Director2 2023-07-31 05893296 frs-bus:Director2 2024-07-31 05893296 frs-countries:EnglandWales 2023-08-01 2024-07-31 05893296 2022-07-31 05893296 2023-07-31 05893296 2022-08-01 2023-07-31 05893296 frs-core:CurrentFinancialInstruments 2023-07-31 05893296 frs-core:Non-currentFinancialInstruments 2023-07-31 05893296 frs-core:BetweenOneFiveYears 2023-07-31 05893296 frs-core:MotorVehicles 2022-08-01 2023-07-31 05893296 frs-core:WithinOneYear 2023-07-31 05893296 frs-core:ShareCapital 2023-07-31 05893296 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 05893296
K.G. Logistics Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05893296
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 168,365 225,101
Investments 5 100 -
168,465 225,101
CURRENT ASSETS
Stocks 6 289,958 -
Debtors 7 5,236,987 4,503,204
Cash at bank and in hand 128,987 96,737
5,655,932 4,599,941
Creditors: Amounts Falling Due Within One Year 8 (2,665,364 ) (1,481,573 )
NET CURRENT ASSETS (LIABILITIES) 2,990,568 3,118,368
TOTAL ASSETS LESS CURRENT LIABILITIES 3,159,033 3,343,469
Creditors: Amounts Falling Due After More Than One Year 9 (71,988 ) (156,670 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (11,397 ) (23,622 )
NET ASSETS 3,075,648 3,163,177
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 3,075,548 3,163,077
SHAREHOLDERS' FUNDS 3,075,648 3,163,177
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For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 R A Broad
Director
26th March 2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
K.G. Logistics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05893296 . The registered office is 139-141 Watling Street, Gillingham, Kent, ME7 2YY.
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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying value amount and are recognised in the Income Statement.
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on cost
Computer Equipment 33% on cost
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. 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.
2.6. 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 debtors and creditors, loans from banks and other third parties and loans to related parties.
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.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.10. Debtors
 Short term debtors are measured at transaction price, less any imapirment.
2.11. Cash and cash equyivalents
Cash is represented by cash in hand and deposits with financial institutions.
2.12. Creditors
Short term creditors are measured at the transaction price.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 16)
14 16
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 August 2023 11,428 393,848 21,978 32,305 459,559
Additions - - - 3,504 3,504
As at 31 July 2024 11,428 393,848 21,978 35,809 463,063
Depreciation
As at 1 August 2023 10,785 181,975 13,970 27,728 234,458
Provided during the period 160 52,969 4,057 3,054 60,240
As at 31 July 2024 10,945 234,944 18,027 30,782 294,698
Net Book Value
As at 31 July 2024 483 158,904 3,951 5,027 168,365
As at 1 August 2023 643 211,873 8,008 4,577 225,101
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Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 101,283 151,926
5. Investments
Subsidiaries
£
Cost
As at 1 August 2023 -
Additions 100
As at 31 July 2024 100
Provision
As at 1 August 2023 -
As at 31 July 2024 -
Net Book Value
As at 31 July 2024 100
As at 1 August 2023 -
6. Stocks
2024 2023
£ £
Work in progress 289,958 -
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,190,442 548,703
Amounts owed by group undertakings 74,634 -
Other debtors 3,971,911 3,954,501
5,236,987 4,503,204
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 104,377 25,582
Trade creditors 2,053,377 900,530
Other loans 110,845 -
Other creditors 150,114 143,288
Taxation and social security 246,651 412,173
2,665,364 1,481,573
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9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 52,294 156,670
Other loans 19,694 -
71,988 156,670
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 104,377 25,582
Later than one year and not later than five years 52,294 156,670
156,671 182,252
156,671 182,252
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 August 2023 Amounts advanced Amounts repaid Amounts written off As at 31 July 2024
£ £ £ £ £
Mr Raymond Broad 5,000 - 5,000 - -
Mr Gavin White 5,000 - 5,000 - -
The above loan is unsecured, interest free and repayable on demand.
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