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REGISTERED NUMBER: 11764441 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Last Mile Logistic Solutions Limited

Last Mile Logistic Solutions Limited (Registered number: 11764441)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Last Mile Logistic Solutions Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: C Hardy
P Lambert





REGISTERED OFFICE: Haverton Hill Offshore Base
Haverton Hill
Stockton on Tees
TS23 1PZ





REGISTERED NUMBER: 11764441 (England and Wales)





ACCOUNTANTS: Anderson Barrowcliff Limited
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

Last Mile Logistic Solutions Limited (Registered number: 11764441)

Balance Sheet
31 December 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 333
Tangible assets 5 260,336 270,366
260,336 270,699

CURRENT ASSETS
Stocks 425 4,825
Debtors 6 811,131 564,432
Cash at bank 29,811 26,780
841,367 596,037
CREDITORS
Amounts falling due within one year 7 818,358 976,234
NET CURRENT ASSETS/(LIABILITIES) 23,009 (380,197 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

283,345

(109,498

)

CREDITORS
Amounts falling due after more than one
year

8

517,309

283,126
NET LIABILITIES (233,964 ) (392,624 )

CAPITAL AND RESERVES
Called up share capital 10 38 38
Share premium 75,670 75,670
Retained earnings (309,672 ) (468,332 )
SHAREHOLDERS' FUNDS (233,964 ) (392,624 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Last Mile Logistic Solutions Limited (Registered number: 11764441)

Balance Sheet - continued
31 December 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 May 2025 and were signed on its behalf by:





C Hardy - Director


Last Mile Logistic Solutions Limited (Registered number: 11764441)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Last Mile Logistic Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on a going concern basis despite the balance sheet showing negative distributable reserves of £233,964. The company entered into a Creditors Voluntary Arrangement on 15 October 2024. The ability of the company to continue as a going concern depends on the future trading prospects and continued financial support of the directors and other creditors who have confirmed that they will continue to support the company for the foreseeable future and will not look to withdraw amounts owed to them to the detriment of the company's ability to trade.

If the company were unable to continue as a going concern, the financial statements would have to be adjusted to write down assets to their recoverable amounts, and to provide for any additional losses or liabilities that might arise and to reclassify fixed assets and long term creditors as current assets and current liabilities. No such adjustments have been made in these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on cost
Plant and machinery - 25% on cost
Motor vehicles - Straight line over 6 years
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial assets and liabilities are initially recorded at transaction price.

Changes in the fair value of derivatives that are designated and qualify as fair value are recognised in profit or loss immediately, together with any changes in the fair value of the asset or liability.


Last Mile Logistic Solutions Limited (Registered number: 11764441)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 56 (2023 - 88 ) .

Last Mile Logistic Solutions Limited (Registered number: 11764441)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024
and 31 December 2024 1,000
AMORTISATION
At 1 January 2024 667
Charge for year 333
At 31 December 2024 1,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 333

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 6,200 44,938 258,200 5,146 314,484
Additions 15,852 572 173,250 916 190,590
Disposals - - (195,000 ) - (195,000 )
At 31 December 2024 22,052 45,510 236,450 6,062 310,074
DEPRECIATION
At 1 January 2024 1,550 7,720 31,592 3,256 44,118
Charge for year 3,201 11,377 31,521 975 47,074
Eliminated on disposal - - (41,454 ) - (41,454 )
At 31 December 2024 4,751 19,097 21,659 4,231 49,738
NET BOOK VALUE
At 31 December 2024 17,301 26,413 214,791 1,831 260,336
At 31 December 2023 4,650 37,218 226,608 1,890 270,366

Included in the fixed asset register are assets costing £222,950 with a net book value of £203,790 which are held under hire purchase agreements.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 688,014 514,380
Other debtors 123,117 50,052
811,131 564,432

Last Mile Logistic Solutions Limited (Registered number: 11764441)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Bank loans and overdrafts - 38,452
Hire purchase contracts 42,702 64,227
Trade creditors 127,659 220,244
Taxation and social security 130,683 199,147
Other creditors 517,314 454,164
818,358 976,234

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
as restated
£    £   
Bank loans - 111,177
Hire purchase contracts 107,309 65,314
Other creditors 410,000 106,635
517,309 283,126

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
as restated
£    £   
Bank loans - 149,629

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: as restated
£    £   
3,805 Ordinary £0.01 38 38

11. CONTINGENT LIABILITIES

The company entered into a Creditors Voluntary Agreement on 15 October 2024. The forecasted contributions over the 5 year period are £497,000. The company paid contributions of £15,000 in the year and the liability as at 31 December 2024 is £482,000.

However, the total amount owed to creditors as at 31 December 2024 would be £632,986 if there was a default in the agreement. Also, the forecasted contributions can change depending on company performance and any change will be reviewed and provided for each year until agreement is completed.