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Registration number: 05529793

Senco Logistics Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Senco Logistics Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Senco Logistics Limited

Company Information

Directors

M Senior

J Senior

LA Senior

Company secretary

M Senior

Registered office

Victoria Court
91 Huddersfield Road
Holmfirth
West Yorkshire
HD9 3JA

 

Senco Logistics Limited

(Registration number: 05529793)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

151,608

44,168

Current assets

 

Debtors

5

450,763

489,474

Cash at bank and in hand

 

20,388

40,764

 

471,151

530,238

Creditors: Amounts falling due within one year

6

(520,737)

(470,968)

Net current (liabilities)/assets

 

(49,586)

59,270

Total assets less current liabilities

 

102,022

103,438

Creditors: Amounts falling due after more than one year

6

(93,970)

(95,909)

Net assets

 

8,052

7,529

Capital and reserves

 

Called up share capital

102

102

Retained earnings

7,950

7,427

Shareholders' funds

 

8,052

7,529

 

Senco Logistics Limited

(Registration number: 05529793)
Balance Sheet as at 30 November 2024

For the financial year ending 30 November 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 year 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 April 2025 and signed on its behalf by:
 

.........................................

M Senior
Company secretary and director

 

Senco Logistics Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

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

The address of its registered office is:
Victoria Court
91 Huddersfield Road
Holmfirth
West Yorkshire
HD9 3JA
England

These financial statements were authorised for issue by the Board on 22 April 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.

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 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.

 

Senco Logistics Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 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

Improvements to property

2% on cost

Plant and machinery

25% on reducing balance

Fixtures and fittings

33% on cost

Computer equipment

33% on cost

Motor vehicles

18% on reducing balance. 0% in year of acquisition

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.

 

Senco Logistics Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2023 - 13).

 

Senco Logistics Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

4

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 December 2023

6,326

24,956

6,152

11,516

Additions

-

8,781

1,331

1,363

At 30 November 2024

6,326

33,737

7,483

12,879

Depreciation

At 1 December 2023

633

22,628

4,518

9,598

Charge for the year

126

4,105

741

1,196

At 30 November 2024

759

26,733

5,259

10,794

Carrying amount

At 30 November 2024

5,567

7,004

2,224

2,085

At 30 November 2023

5,693

2,328

1,634

1,918

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2023

53,000

101,950

Additions

108,000

119,475

At 30 November 2024

161,000

221,425

Depreciation

At 1 December 2023

20,405

57,782

Charge for the year

5,867

12,035

At 30 November 2024

26,272

69,817

Carrying amount

At 30 November 2024

134,728

151,608

At 30 November 2023

32,595

44,168

Included within the net book value of land and buildings above is £5,567 (2023 - £5,693) in respect of long leasehold land and buildings.
 

 

Senco Logistics Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

301,537

298,527

Amounts owed by related parties

8

65,609

148,282

Prepayments

 

5,069

3,005

Other debtors

 

78,548

39,660

   

450,763

489,474

 

Senco Logistics Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

115,450

78,319

Trade creditors

 

30,727

19,999

Taxation and social security

 

97,590

102,674

Accruals and deferred income

 

2,344

1,490

Other creditors

 

274,626

268,486

 

520,737

470,968

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

93,970

95,909

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

10,129

70,734

Hire purchase contracts

83,841

25,175

93,970

95,909

Current loans and borrowings

2024
£

2023
£

Bank borrowings

60,862

65,731

Hire purchase contracts

54,588

12,588

115,450

78,319

 

Senco Logistics Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

8

Related party transactions

Transactions with directors

2024

At 1 December 2023
£

Advances to director
£

At 30 November 2024
£

M Senior

Interest has been charged at 2.25%. There are no conditions attached to this loan.

-

70,643

70,643

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

M Senior

Interest has been charged at 2.25%. There are no conditions attached to this loan.

58,453

54,883

(113,336)

-