Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-3081false2023-07-01falseNo description of principal activity70trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07750358 2023-07-01 2024-06-30 07750358 2022-07-01 2023-06-30 07750358 2024-06-30 07750358 2023-06-30 07750358 2022-07-01 07750358 c:Director2 2023-07-01 2024-06-30 07750358 d:PlantMachinery 2023-07-01 2024-06-30 07750358 d:PlantMachinery 2024-06-30 07750358 d:PlantMachinery 2023-06-30 07750358 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07750358 d:PlantMachinery d:PriorPeriodIncreaseDecrease 2023-07-01 2024-06-30 07750358 d:MotorVehicles 2023-07-01 2024-06-30 07750358 d:MotorVehicles 2024-06-30 07750358 d:MotorVehicles 2023-06-30 07750358 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07750358 d:MotorVehicles d:PriorPeriodIncreaseDecrease 2023-07-01 2024-06-30 07750358 d:FurnitureFittings d:PriorPeriodIncreaseDecrease 2023-07-01 2024-06-30 07750358 d:FurnitureFittings 2023-07-01 2024-06-30 07750358 d:FurnitureFittings 2024-06-30 07750358 d:FurnitureFittings 2023-06-30 07750358 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07750358 d:ComputerEquipment 2023-07-01 2024-06-30 07750358 d:ComputerEquipment 2024-06-30 07750358 d:ComputerEquipment 2023-06-30 07750358 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07750358 d:ComputerEquipment d:PriorPeriodIncreaseDecrease 2023-07-01 2024-06-30 07750358 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07750358 d:CurrentFinancialInstruments 2024-06-30 07750358 d:CurrentFinancialInstruments 2023-06-30 07750358 d:Non-currentFinancialInstruments 2024-06-30 07750358 d:Non-currentFinancialInstruments 2023-06-30 07750358 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 07750358 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 07750358 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 07750358 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 07750358 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-06-30 07750358 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 07750358 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-06-30 07750358 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 07750358 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-06-30 07750358 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-06-30 07750358 d:ShareCapital 2024-06-30 07750358 d:ShareCapital 2023-06-30 07750358 d:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 07750358 d:RetainedEarningsAccumulatedLosses 2024-06-30 07750358 d:RetainedEarningsAccumulatedLosses 2023-06-30 07750358 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 07750358 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 07750358 c:OrdinaryShareClass4 2023-07-01 2024-06-30 07750358 c:OrdinaryShareClass4 2024-06-30 07750358 c:OrdinaryShareClass4 2023-06-30 07750358 c:OrdinaryShareClass5 2023-07-01 2024-06-30 07750358 c:OrdinaryShareClass5 2024-06-30 07750358 c:OrdinaryShareClass5 2023-06-30 07750358 c:FRS102 2023-07-01 2024-06-30 07750358 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 07750358 c:FullAccounts 2023-07-01 2024-06-30 07750358 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 07750358 d:WithinOneYear 2024-06-30 07750358 d:WithinOneYear 2023-06-30 07750358 2 2023-07-01 2024-06-30 07750358 6 2023-07-01 2024-06-30 07750358 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-06-30 07750358 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-06-30 07750358 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-06-30 07750358 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-06-30 07750358 d:LeasedAssetsHeldAsLessee 2024-06-30 07750358 d:LeasedAssetsHeldAsLessee 2023-06-30 07750358 e:PoundSterling 2023-07-01 2024-06-30 07750358 d:PriorPeriodErrorIncreaseDecrease 2023-07-01 2024-06-30 07750358 d:PreviouslyStatedAmount 2023-06-30 07750358 d:MotorVehicles d:PreviouslyStatedAmount 2023-06-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 07750358














SALVATORI LOGISTICS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 JUNE 2024

 
SALVATORI LOGISTICS LIMITED
REGISTERED NUMBER: 07750358

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note

Fixed assets
  

Tangible assets
 4 
832,285
676,466

Investments
 5 
10,000
5,000

  
842,285
681,466

Current assets
  

Stocks
  
42,500
13,506

Debtors: amounts falling due within one year
 6 
2,992,031
2,792,151

Cash at bank and in hand
 7 
-
13,984

  
3,034,531
2,819,641

Creditors: amounts falling due within one year
 8 
(2,749,154)
(2,168,258)

Net current assets
  
 
 
285,377
 
 
651,383

Total assets less current liabilities
  
1,127,662
1,332,849

Creditors: amounts falling due after more than one year
 9 
(418,256)
(846,482)

Provisions for liabilities
  

Deferred tax
 11 
(91,936)
(53,874)

Net assets
  
£617,470
£432,493


Capital and reserves
  

Called up share capital 
 12 
117
117

Profit and loss account
  
617,353
432,376

  
£617,470
£432,493


Page 1

 
SALVATORI LOGISTICS LIMITED
REGISTERED NUMBER: 07750358

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 March 2025.




___________________________
D L Tobin
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
SALVATORI LOGISTICS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Salvatori Logistics Limited is a private company limited by shares and is incorporated in England and Wales. The registered company number is 07750358.
The registered office of the company is 4 Covert Road, Aylesham Industrial Estate, Aylesham, Kent, CT3 3EQ, England. The principal place of business is Eurolink V, Swale Way, Eurolink East Five, Sittingbourne, ME10 3TF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has negotiated with its major supplier to agree extended support terms which will mean it is able to meet its obligations as they become due. The accounts have therefore been prepared on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
SALVATORI LOGISTICS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.10

Tangible fixed assets

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.

Page 4

 
SALVATORI LOGISTICS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
10% straight line basis
Motor vehicles
-
33% straight line basis
Fixtures and fittings
-
33% straight line basis
Computer equipment
-
50% straight line basis

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 amount and are recognised in profit or loss.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.12

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
SALVATORI LOGISTICS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.17

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.18

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 81 (2023 - 70).

Page 6

 
SALVATORI LOGISTICS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total



Cost or valuation


At 1 July 2023
232,180
993,447
46,615
6,372
1,278,614


Additions
35,865
376,379
-
1,656
413,900


Disposals
(1,028)
(67,765)
-
-
(68,793)



At 30 June 2024

267,017
1,302,061
46,615
8,028
1,623,721



Depreciation


At 1 July 2023 (as previously stated)
70,307
439,887
46,615
4,119
560,928


Prior Year Adjustment
-
41,220
-
-
41,220


At 1 July 2023 (as restated)
70,307
481,107
46,615
4,119
602,148


Charge for the year on owned assets
41,517
179,844
-
2,046
223,407


Disposals
(1,028)
(33,091)
-
-
(34,119)



At 30 June 2024

110,796
627,860
46,615
6,165
791,436



Net book value



At 30 June 2024
£156,221
£674,201
£-
£1,863
£832,285



At 30 June 2023 (as restated)
£161,873
£512,340
£-
£2,253
£676,466

Page 7

 
SALVATORI LOGISTICS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

           4.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023



Plant and machinery
21,428
33,116

Motor vehicles
500,416
356,561

£521,844
£389,677


5.


Fixed asset investments





Investments in associates



Cost or valuation


At 1 July 2023
5,000


Additions
5,000



At 30 June 2024
£10,000





6.


Debtors

2024
2023


Trade debtors
2,096,214
2,059,788

Other debtors
626,831
528,124

Prepayments and accrued income
268,986
204,239

£2,992,031
£2,792,151


At the balance sheet date other debtors includes £69,650 (2023 - £nil) which is secured on trade debtors.


7.


Cash and cash equivalents

2024
2023

Cash at bank and in hand
-
13,984

Less: bank overdrafts
£(87,880)
£-


Page 8

 
SALVATORI LOGISTICS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Creditors: Amounts falling due within one year

2024
2023

Bank overdrafts
87,880
-

Other loans
240,000
125,000

Trade creditors
683,611
947,463

Other taxation and social security
299,131
197,201

Obligations under finance lease and hire purchase contracts
197,789
119,323

Other creditors
1,132,434
597,660

Accruals and deferred income
108,309
181,611

£2,749,154
£2,168,258


At the balance sheet date other creditors includes £nil (2023 - £329,598) which is secured on trade debtors.
Finance lease and hire purchase contracts are secured on the assets concerned.


9.


Creditors: Amounts falling due after more than one year

2024
2023

Other loans
176,217
607,886

Net obligations under finance leases and hire purchase contracts
242,039
238,596

£418,256
£846,482


Page 9

 
SALVATORI LOGISTICS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023

Amounts falling due within one year

Other loans
240,000
125,000


240,000
125,000

Amounts falling due 1-2 years

Other loans
176,217
125,000


176,217
125,000

Amounts falling due 2-5 years

Other loans
-
375,000


-
375,000

Amounts falling due after more than 5 years

Other loans
-
107,886

-
107,886

£416,217
£732,886


Page 10

 
SALVATORI LOGISTICS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

11.


Deferred taxation




2024
2023





At beginning of year
(53,874)
(69,372)


Charged to profit or loss
(38,062)
15,498



At end of year
£(91,936)
£(53,874)

The provision for deferred taxation is made up as follows:

2024
2023


Accelerated capital allowances
91,936
53,874

£91,936
£53,874


12.


Share capital

2024
2023
Allotted, called up and fully paid



7,000 (2023 - 7,000) A Ordinary shares of £0.01 each
70
70
4,666 (2023 - 4,666) B Ordinary shares of £0.01 each
47
47

£117

£117



13.


Reserves

Profit and loss account

The profit and loss account is a reserve of the accumulated profit and loss after tax and dividends. This reserve is fully distributable. 


14.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted £50,974 to (2023 - £51,001). Contributions totalling £7,001 (2023 - £6,411) were payable to the fund at the balance sheet date and are included in creditors.

Page 11

 
SALVATORI LOGISTICS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

15.


Commitments under operating leases

At 30 June 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023


Not later than 1 year
-
16,370

£-
£16,370


16.


Related party transactions

During the year the company supplied goods and services to companies under common control of £177,467 (2023 - £170,008) and purchased goods and services of £1,799,853 (2023 - £1,685,984). 
At the year end a balance of £489,626 (2023 - £447,943) was due to the company from companies under common control and £1,076,344 (2023 - £227,410) was owed to companies under common control. The balances are interest free and repayable on demand.
During the year the company purchased goods and services of £240,000 (2023 - £240,000) from Salvatori Property Investments Limited. D Tobin is a director of Salvatori Property Investments Limited.
During the year the company purchased goods and services of £240,000 (2023 - £240,000) from A Salvatori Retirement Benefit Scheme. D Salvatori is a beneficiary of A Salvatori Retirement Benefit Scheme. 
The total amount of contingent liabilities outstanding at 30 June 2024 subject to the cross guarantee in respect of the related companies amounted to £15,908 (2023 - £167,949).
 


Page 12