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Company No: 03677118 (England and Wales)

LIGHTNING TRANSPORT GROUP LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

LIGHTNING TRANSPORT GROUP LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

LIGHTNING TRANSPORT GROUP LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2024
LIGHTNING TRANSPORT GROUP LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024
DIRECTORS David Marris
Anthony John Pickering
SECRETARY David Marris
REGISTERED OFFICE 5 Foxoak Park
Common Road
Dunnington
York
YO19 5RZ
United Kingdom
COMPANY NUMBER 03677118 (England and Wales)
ACCOUNTANT Morrell Middleton Auditors Ltd
Chartered Certified Accountants
Wellington House
Aviator Court
York
YO30 4UZ
LIGHTNING TRANSPORT GROUP LIMITED

BALANCE SHEET

As at 31 December 2024
LIGHTNING TRANSPORT GROUP LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 1,337 1,861
Investments 5 2 2
1,339 1,863
Current assets
Debtors 6 236,695 210,774
Cash at bank and in hand 7 33,350 23,705
270,045 234,479
Creditors: amounts falling due within one year 8 ( 303,526) ( 246,609)
Net current liabilities (33,481) (12,130)
Total assets less current liabilities (32,142) (10,267)
Net liabilities ( 32,142) ( 10,267)
Capital and reserves
Called-up share capital 9 10,000 10,000
Profit and loss account ( 42,142 ) ( 20,267 )
Total shareholders' deficit ( 32,142) ( 10,267)

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Lightning Transport Group Limited (registered number: 03677118) were approved and authorised for issue by the Board of Directors on 21 March 2025. They were signed on its behalf by:

David Marris
Director
LIGHTNING TRANSPORT GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
LIGHTNING TRANSPORT GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Lightning Transport Group Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 5 Foxoak Park, Common Road, Dunnington, York, YO19 5RZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 20 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 33.33 % reducing balance
Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 9 8

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 January 2024 130,905 130,905
At 31 December 2024 130,905 130,905
Accumulated amortisation
At 01 January 2024 130,905 130,905
At 31 December 2024 130,905 130,905
Net book value
At 31 December 2024 0 0
At 31 December 2023 0 0

4. Tangible assets

Plant and machinery Vehicles Total
£ £ £
Cost
At 01 January 2024 6,766 17,900 24,666
At 31 December 2024 6,766 17,900 24,666
Accumulated depreciation
At 01 January 2024 5,604 17,201 22,805
Charge for the financial year 291 233 524
At 31 December 2024 5,895 17,434 23,329
Net book value
At 31 December 2024 871 466 1,337
At 31 December 2023 1,162 699 1,861

5. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 January 2024 2 2
At 31 December 2024 2 2
Carrying value at 31 December 2024 2 2
Carrying value at 31 December 2023 2 2

6. Debtors

2024 2023
£ £
Trade debtors 223,862 201,580
Other debtors 12,833 9,194
236,695 210,774

7. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 33,350 23,705

8. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 108,263 56,042
Amounts owed to Group undertakings 2 2
Taxation and social security 66,158 64,574
Other creditors 129,103 125,991
303,526 246,609

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
10,000 Ordinary shares of £ 1.00 each 10,000 10,000

10. Financial commitments

Other financial commitments

2024 2023
£ £
Secured Debts included within creditors : Close Invoice Finance 82,658 105,297

Secured by way of fixed charge over the undertaking and all property and assets present and future.