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Registration number: 14826301

DMN Rapid Logistics Limited

Annual Report and Unaudited Abridged Financial Statements

for the Period from 25 April 2023 to 30 April 2024

 

DMN Rapid Logistics Limited

Contents

Company Information

1

Directors' Report

2

Abridged Profit and Loss Account

3

Statement of Comprehensive Income

4

Abridged Balance Sheet

5

Statement of Changes in Equity

6

Notes to the Unaudited Abridged Financial Statements

7 to 9

Detailed Profit and Loss Account

10 to 12

 

DMN Rapid Logistics Limited

Company Information

Directors

Mr Nicholas Chadaway

Mr Gary Anthony Xuereb

Ms Desrene Ann Spencer

Registered office

26 Park Rose Industrial Estate Middlemore Road
Smethwick
West Bromwich
West Midlands
B66 2DZ

Accountants

Onyx Accountants Limited
Chartered Management AccountantsOnyx House
12 Phoenix Business Park
Avenue Close
Birmingham
West Midlands
B7 4NU

 

DMN Rapid Logistics Limited

Directors' Report for the Period from 25 April 2023 to 30 April 2024

The directors present their report and the abridged financial statements for the period from 25 April 2023 to 30 April 2024.

Incorporation

The company was incorporated on 25 April 2023.

Directors of the company

The directors who held office during the period were as follows:

Mr Nicholas Chadaway (appointed 25 April 2023)

Mr Gary Anthony Xuereb (appointed 25 April 2023)

Ms Desrene Ann Spencer (appointed 25 April 2023)

Principal activity

The principal activity of the company is Vehicle transportation

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 23 December 2024 and signed on its behalf by:
 

.........................................
Mr Nicholas Chadaway
Director

 

DMN Rapid Logistics Limited

Abridged Profit and Loss Account for the Period from 25 April 2023 to 30 April 2024

Note

2024
£

Gross profit

 

402,335

Administrative expenses

 

(322,823)

Interest payable and similar expenses

 

(209)

Profit before tax

4

79,303

Profit for the financial period

 

79,303

The above results were derived from continuing operations.

The company has no recognised gains or losses for the period other than the results above.

 

DMN Rapid Logistics Limited

Statement of Comprehensive Income for the Period from 25 April 2023 to 30 April 2024

2024
£

Profit for the period

79,303

Total comprehensive income for the period

79,303

 

DMN Rapid Logistics Limited

(Registration number: 14826301)
Abridged Balance Sheet as at 30 April 2024

Note

2024
£

Fixed assets

 

Tangible assets

5

22,148

Current assets

 

Debtors

6

356,894

Cash at bank and in hand

 

63,192

 

420,086

Prepayments and accrued income

 

48,220

Creditors: Amounts falling due within one year

(221,564)

Net current assets

 

246,742

Total assets less current liabilities

 

268,890

Accruals and deferred income

 

(188,587)

Net assets

 

80,303

Capital and reserves

 

Called up share capital

1,000

Retained earnings

79,303

Shareholders' funds

 

80,303

For the financial period ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 23 December 2024 and signed on its behalf by:
 

.........................................
Mr Nicholas Chadaway
Director

 

DMN Rapid Logistics Limited

Statement of Changes in Equity for the Period from 25 April 2023 to 30 April 2024

Share capital
£

Retained earnings
£

Total
£

Profit for the period

-

79,303

79,303

New share capital subscribed

1,000

-

1,000

At 30 April 2024

1,000

79,303

80,303

 

DMN Rapid Logistics Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 25 April 2023 to 30 April 2024

1

General information

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

The address of its registered office is:
26 Park Rose Industrial Estate Middlemore Road
Smethwick
West Bromwich
West Midlands
B66 2DZ
England

These financial statements were authorised for issue by the Board on 23 December 2024.

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 abridged 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 abridged 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.

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 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.

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.

 

DMN Rapid Logistics Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 25 April 2023 to 30 April 2024

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:

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.

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.

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 directors) during the period, was 29.

4

Profit before tax

Arrived at after charging/(crediting)

 

DMN Rapid Logistics Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 25 April 2023 to 30 April 2024

2024
£

Depreciation expense

3,022

5

Tangible assets

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

Additions

22,477

2,694

25,171

At 30 April 2024

22,477

2,694

25,171

Depreciation

Charge for the period

2,810

213

3,023

At 30 April 2024

2,810

213

3,023

Carrying amount

At 30 April 2024

19,667

2,481

22,148

6

Debtors

Debtors includes £Nil due after more than one year.

 

DMN Rapid Logistics Limited

Detailed Profit and Loss Account for the Period from 25 April 2023 to 30 April 2024

2024
£

Turnover (analysed below)

1,274,738

Cost of sales (analysed below)

(872,403)

Gross profit

402,335

Gross profit (%)

31.56%

Administrative expenses

Employment costs (analysed below)

(66,502)

Establishment costs (analysed below)

(20,531)

General administrative expenses (analysed below)

(232,176)

Finance charges (analysed below)

(592)

Depreciation costs (analysed below)

(3,022)

(322,823)

Operating profit

79,512

Interest payable and similar expenses (analysed below)

(209)

Profit before tax

79,303

 

DMN Rapid Logistics Limited

Detailed Profit and Loss Account for the Period from 25 April 2023 to 30 April 2024

2024
£

 

Turnover

Sale of goods, UK

1,274,738

 

Cost of sales

Direct costs

(66,932)

Wages and salaries (excluding directors)

(449,442)

Staff NIC (Employers)

(43,394)

Staff pensions (Defined contribution)

(9,302)

Subcontract cost

(123,580)

Motor expenses

(128,079)

Insurance

(51,674)

(872,403)

 

Employment costs

Wages and salaries (excluding directors)

(48,105)

Staff NIC (Employers)

(5,558)

Staff pensions (Defined contribution)

(1,258)

Staff training

(11,581)

(66,502)

 

Establishment costs

Insurance

(20,531)

 

General administrative expenses

Telephone and fax

(3,565)

Computer software and maintenance costs

(26,366)

Printing, postage and stationery

(1,105)

Sundry expenses

(6,527)

Management charges payable

(29,706)

Motor expenses

(3,600)

Travel and subsistence

(1,608)

Advertising

(415)

Promotional expenses

(3,996)

Customer entertaining (disallowable for tax)

(3,346)

Accountancy fees

(5,167)

Consulting

(109,745)

Legal and professional fees

(37,030)

(232,176)

 

Finance charges

Bank charges

(592)

 

DMN Rapid Logistics Limited

Detailed Profit and Loss Account for the Period from 25 April 2023 to 30 April 2024

2024
£

 

Depreciation costs

Depreciation of motor vehicles (owned)

(213)

Depreciation of office equipment (owned)

(2,809)

(3,022)

 

Interest payable and similar expenses

Bank loan interest payable

(209)