Registration number: 10996781

HRC LOGISTICS LIMITED

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 9

HRC LOGISTICS LIMITED

Company Information

Director

Mr Jahed Ali

Registered office

Office 2.07 Hollinwood Business Centre Albert Street Oldham OL8 3QL

Accountants

Rahman Accountants Limited Chartered Certified Accountants 13 Cotswold Drive Royton Oldham OL2 5HD

HRC LOGISTICS LIMITED

(Registration number: 10996781)
Balance Sheet as at 31 October 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	437,637	345,142
Current assets
Debtors	5	400,958	308,827
Cash at bank and in hand		66,371	86,506
		467,329	395,333
Creditors: Amounts falling due within one year	6	(114,777)	(132,541)
Net current assets		352,552	262,792
Total assets less current liabilities		790,189	607,934
Creditors: Amounts falling due after more than one year	6	(530,248)	(430,583)
Net assets		259,941	177,351
Capital and reserves
Called up share capital	7	100	100
Retained earnings		259,841	177,251
Shareholders' funds		259,941	177,351

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

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 14 March 2025
 

......................................... Mr Jahed Ali Director

HRC LOGISTICS LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Office 2.07
Hollinwood Business Centre
Albert Street
Oldham
OL8 3QL
England

These financial statements were authorised for issue by the director on 14 March 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

HRC LOGISTICS LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor Vehicles	25% Straight Line Basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

HRC LOGISTICS LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 4).

HRC LOGISTICS LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 November 2023	115,290	24,352	381,537	521,179
Additions	-	15,191	137,053	152,244
Disposals	-	-	(131,227)	(131,227)
At 31 October 2024	115,290	39,543	387,363	542,196
Depreciation
At 1 November 2023	-	4,240	171,797	176,037
Charge for the year	-	3,954	38,736	42,690
Eliminated on disposal	-	-	(114,168)	(114,168)
At 31 October 2024	-	8,194	96,365	104,559
Carrying amount
At 31 October 2024	115,290	31,349	290,998	437,637
At 31 October 2023	115,290	20,112	209,740	345,142

Included within the net book value of land and buildings above is £115,290 (2023 - £115,290) in respect of freehold land and buildings.
 

5

Debtors

Current	2024 £	2023 £
Trade debtors	234,147	125,680
Prepayments	54,436	61,243
Other debtors	112,375	121,904
	400,958	308,827

HRC LOGISTICS LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

6

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	15,245	6,463
Taxation and social security	79,742	71,470
Accruals and deferred income	875	-
Other creditors	18,915	54,608
	114,777	132,541

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	8	530,248	430,583

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary Shares at £1 Each of £1 each	100	100	100	100

8	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	295,250	198,061
Hire purchase contracts	234,998	232,522
	530,248	430,583

9

Dividends

Interim dividends paid

HRC LOGISTICS LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

		2024 £		2023 £
Interim dividend of £200.00 (2023 - £100.00) per each Ordinary Shares at £1 Each		20,000		10,000

10	Related party transactions

HRC LOGISTICS LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Director's remuneration

The director's remuneration for the year was as follows:

	2024 £	2023 £
Remuneration	20,003	17,534