Registered number
09096729
Global Intelligent Logistics (UK) Limited
Unaudited Filleted Accounts
30 June 2024
Global Intelligent Logistics (UK) Limited
Registered number: 09096729
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 10,320 17,740
Current assets
Debtors 4 2,891,435 2,065,889
Cash at bank and in hand 110,262 31,585
3,001,697 2,097,474
Creditors: amounts falling due within one year 5 (2,495,542) (1,551,176)
Net current assets 506,155 546,298
Total assets less current liabilities 516,475 564,038
Creditors: amounts falling due after more than one year 6 (35,216) (108,227)
Provisions for liabilities (2,374) (4,080)
Net assets 478,885 451,731
Capital and reserves
Called up share capital 100 100
Share premium 24,900 24,900
Profit and loss account 453,885 426,731
Shareholders' funds 478,885 451,731
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Hart
Director
Approved by the board on 26 March 2025
Global Intelligent Logistics (UK) Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 3 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 14 14
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 49,336
Additions 3,606
At 30 June 2024 52,942
Depreciation
At 1 July 2023 31,596
Charge for the year 11,026
At 30 June 2024 42,622
Net book value
At 30 June 2024 10,320
At 30 June 2023 17,740
4 Debtors 2024 2023
£ £
Trade debtors 2,134,160 1,705,960
Other debtors 757,275 359,929
2,891,435 2,065,889
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 1,702,951 1,106,739
Taxation and social security costs 59,697 50,512
Other creditors 722,894 383,925
2,495,542 1,551,176
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,000 20,000
Other creditors 25,216 88,227
35,216 108,227
Included in other creditors is an amount of £595,606 (2023 £320,758) which is secured by a fixed and floating charge on the assets of the company under an invoice discounting agreement with Close Brothers Limited.
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 114,140 36,285
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Daniel Hart
Loan 69,742 76,846 (142,791) 3,797
69,742 76,846 (142,791) 3,797
9 Other information
Global Intelligent Logistics (UK) Limited is a private company limited by shares and incorporated in England. Its registered office is:
2 Waterside Court
Galleon Boulevard
Dartford
Kent
DA2 6NX
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