REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 11 JULY 2023 TO 30 JUNE 2024 |
FOR |
CARGO MOVERS LOGISTICS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 11 JULY 2023 TO 30 JUNE 2024 |
FOR |
CARGO MOVERS LOGISTICS LIMITED |
CARGO MOVERS LOGISTICS LIMITED (REGISTERED NUMBER: 14996609) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 11 JULY 2023 TO 30 JUNE 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
CARGO MOVERS LOGISTICS LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 11 JULY 2023 TO 30 JUNE 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
12 Victoria Road |
Barnsley |
South Yorkshire |
S70 2BB |
BANKERS: |
44 Fishergate |
Preston |
PR1 8BH |
CARGO MOVERS LOGISTICS LIMITED (REGISTERED NUMBER: 14996609) |
BALANCE SHEET |
30 JUNE 2024 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
CARGO MOVERS LOGISTICS LIMITED (REGISTERED NUMBER: 14996609) |
BALANCE SHEET - continued |
30 JUNE 2024 |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the Board of Directors and authorised for issue on |
CARGO MOVERS LOGISTICS LIMITED (REGISTERED NUMBER: 14996609) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 11 JULY 2023 TO 30 JUNE 2024 |
1. | STATUTORY INFORMATION |
Cargo Movers Logistics Limited is a |
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The financial statements have been prepared on a going concern basis. The results for the period showed a loss before taxation of £77,823 and at the period end the company had net current liabilities of £532,984. |
There are no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern; the directors and fellow group companies have indicated a willingness to continue to support the operations of the company to continue trading for the foreseeable future. |
Significant judgements and estimates |
No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements. |
There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
CARGO MOVERS LOGISTICS LIMITED (REGISTERED NUMBER: 14996609) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 11 JULY 2023 TO 30 JUNE 2024 |
2. | ACCOUNTING POLICIES - continued |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable net of VAT. |
Turnover from the sale of distribution services is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on completion of delivery. |
Goodwill |
Goodwill arising on business combinations is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful life. The period chosen for writing off goodwill is four years. Provision is made for any impairment. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: |
Plant & Machinery | - 25% reducing balance |
Fixtures & Fittings | - 33% straight line |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
CARGO MOVERS LOGISTICS LIMITED (REGISTERED NUMBER: 14996609) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 11 JULY 2023 TO 30 JUNE 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
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 future taxable profits. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
Reclassification/transfer |
At 30 June 2024 |
AMORTISATION |
Charge for period |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
CARGO MOVERS LOGISTICS LIMITED (REGISTERED NUMBER: 14996609) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 11 JULY 2023 TO 30 JUNE 2024 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and |
machinery | fittings | Totals |
£ | £ | £ |
COST |
Additions |
Reclassification/transfer |
At 30 June 2024 |
DEPRECIATION |
Charge for period |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Amounts owed by group undertakings |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Amounts owed to group undertakings |
VAT | 5,268 |
Other creditors |
Accruals and deferred income |
CARGO MOVERS LOGISTICS LIMITED (REGISTERED NUMBER: 14996609) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 11 JULY 2023 TO 30 JUNE 2024 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | £1 | 100 |
100 Ordinary shares of £1 were issued during the period |
9. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Transactions with other group companies. |
£ |
Amounts advanced from related parties | 219,695 |
Amounts paid to related parties | 20,722 |
Assets transferred from related parties | 460,001 |
Amounts due from related parties at the period end | 15,927 |
Amounts due to related parties at the period end | 674,901 |
10. | ULTIMATE CONTROLLING PARTY |
Cargo Movers Holdings Limited is the company's parent company by virtue of its shareholding in the company. |
The parent company's registered office address is: |
Ribblebank Potters Lane, |
Samlesbury, |
Preston, |
Lancashire, |
PR5 0UL |