IRIS Accounts Production v25.1.0.734 10681180 Board of Directors Board of Directors Board of Directors 1.4.23 31.3.24 31.3.24 47 34 true false true true false false true false Ordinary A 1.00000 Ordinary B 1.00000 Ordinary C 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh106811802023-03-31106811802024-03-31106811802023-04-012024-03-31106811802022-03-31106811802022-04-012023-03-31106811802023-03-3110681180ns15:EnglandWales2023-04-012024-03-3110681180ns14:PoundSterling2023-04-012024-03-3110681180ns10:Director12023-04-012024-03-3110681180ns10:Director22023-04-012024-03-3110681180ns10:Director32023-04-012024-03-3110681180ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3110681180ns10:FRS1022023-04-012024-03-3110681180ns10:Audited2023-04-012024-03-3110681180ns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2023-04-012024-03-3110681180ns10:LargeMedium-sizedCompaniesRegimeForAccounts2023-04-012024-03-3110681180ns10:FullAccounts2023-04-012024-03-3110681180ns10:OrdinaryShareClass12023-04-012024-03-3110681180ns10:OrdinaryShareClass22023-04-012024-03-3110681180ns10:OrdinaryShareClass32023-04-012024-03-3110681180ns10:RegisteredOffice2023-04-012024-03-3110681180ns5:CurrentFinancialInstruments2024-03-3110681180ns5:CurrentFinancialInstruments2023-03-3110681180ns5:CurrentFinancialInstruments2022-03-3110681180ns5:Non-currentFinancialInstruments2024-03-3110681180ns5:Non-currentFinancialInstruments2023-03-3110681180ns5:Non-currentFinancialInstruments2022-03-3110681180ns5:ShareCapital2024-03-3110681180ns5:ShareCapital2023-03-3110681180ns5:ShareCapital2022-03-3110681180ns5:RetainedEarningsAccumulatedLosses2024-03-3110681180ns5:RetainedEarningsAccumulatedLosses2023-03-3110681180ns5:RetainedEarningsAccumulatedLosses2022-03-3110681180ns5:RetainedEarningsAccumulatedLosses2022-04-012023-03-3110681180ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-3110681180ns5:ReportableOperatingSegment12023-04-012024-03-3110681180ns5:ReportableOperatingSegment12022-04-012023-03-3110681180ns5:ReportableOperatingSegment22023-04-012024-03-3110681180ns5:ReportableOperatingSegment22022-04-012023-03-3110681180ns5:ReportableOperatingSegment32023-04-012024-03-3110681180ns5:ReportableOperatingSegment32022-04-012023-03-3110681180ns5:ReportableOperatingSegment42023-04-012024-03-3110681180ns5:ReportableOperatingSegment42022-04-012023-03-3110681180ns5:ReportableOperatingSegment52023-04-012024-03-3110681180ns5:ReportableOperatingSegment52022-04-012023-03-3110681180ns5:ReportableOperatingSegment62023-04-012024-03-3110681180ns5:ReportableOperatingSegment62022-04-012023-03-3110681180ns5:ReportableOperatingSegment72023-04-012024-03-3110681180ns5:ReportableOperatingSegment72022-04-012023-03-3110681180ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount2023-04-012024-03-3110681180ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount2022-04-012023-03-311068118012023-04-012024-03-311068118012022-04-012023-03-311068118022023-04-012024-03-311068118022022-04-012023-03-3110681180ns5:HirePurchaseContracts2023-04-012024-03-3110681180ns5:HirePurchaseContracts2022-04-012023-03-3110681180ns10:OrdinaryShareClass12022-04-012023-03-3110681180ns10:OrdinaryShareClass22022-04-012023-03-3110681180ns10:OrdinaryShareClass32022-04-012023-03-3110681180ns5:LeaseholdImprovements2023-03-3110681180ns5:PlantMachinery2023-03-3110681180ns5:FurnitureFittings2023-03-3110681180ns5:LeaseholdImprovements2023-04-012024-03-3110681180ns5:PlantMachinery2023-04-012024-03-3110681180ns5:FurnitureFittings2023-04-012024-03-3110681180ns5:LeaseholdImprovements2024-03-3110681180ns5:PlantMachinery2024-03-3110681180ns5:FurnitureFittings2024-03-3110681180ns5:LeaseholdImprovements2023-03-3110681180ns5:PlantMachinery2023-03-3110681180ns5:FurnitureFittings2023-03-3110681180ns5:MotorVehicles2023-03-3110681180ns5:ComputerEquipment2023-03-3110681180ns5:MotorVehicles2023-04-012024-03-3110681180ns5:ComputerEquipment2023-04-012024-03-3110681180ns5:MotorVehicles2024-03-3110681180ns5:ComputerEquipment2024-03-3110681180ns5:MotorVehicles2023-03-3110681180ns5:ComputerEquipment2023-03-3110681180ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2023-03-3110681180ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-3110681180ns5:LeasedAssetsHeldAsLessee2023-03-3110681180ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3110681180ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3110681180ns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3110681180ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2024-03-3110681180ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-03-3110681180ns5:LeasedAssetsHeldAsLessee2024-03-3110681180ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2023-03-3110681180ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-3110681180ns5:LeasedAssetsHeldAsLessee2023-03-3110681180ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3110681180ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3110681180ns5:CurrentFinancialInstruments2023-04-012024-03-3110681180ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-03-3110681180ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-03-3110681180ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-03-3110681180ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-3110681180ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3110681180ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3110681180ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-03-3110681180ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-03-3110681180ns5:HirePurchaseContractsns5:MoreThanFiveYears2024-03-3110681180ns5:HirePurchaseContractsns5:MoreThanFiveYears2023-03-3110681180ns5:HirePurchaseContracts2024-03-3110681180ns5:HirePurchaseContracts2023-03-3110681180ns5:WithinOneYear2024-03-3110681180ns5:WithinOneYear2023-03-3110681180ns5:BetweenOneFiveYears2024-03-3110681180ns5:BetweenOneFiveYears2023-03-3110681180ns5:MoreThanFiveYears2024-03-3110681180ns5:MoreThanFiveYears2023-03-3110681180ns5:AllPeriods2024-03-3110681180ns5:AllPeriods2023-03-3110681180ns5:DeferredTaxation2023-03-3110681180ns5:DeferredTaxation2023-04-012024-03-3110681180ns5:DeferredTaxation2024-03-3110681180ns10:OrdinaryShareClass12024-03-3110681180ns10:OrdinaryShareClass22024-03-3110681180ns10:OrdinaryShareClass32024-03-3110681180ns5:RetainedEarningsAccumulatedLosses2023-03-31
REGISTERED NUMBER: 10681180 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

HBC LOGISTICS LTD

HBC LOGISTICS LTD (REGISTERED NUMBER: 10681180)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


HBC LOGISTICS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: S J Ketteridge
D B Northfield
B R Weldon





REGISTERED OFFICE: 7 St John's Road
Harrow
Middlesex
HA1 2EY





REGISTERED NUMBER: 10681180 (England and Wales)





AUDITORS: Macalvins Limited
Chartered Accountants
and Statutory Auditors
7 St John's Road
Harrow
Middlesex
HA1 2EY

HBC LOGISTICS LTD (REGISTERED NUMBER: 10681180)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024

The directors present their strategic report for the period ended 31 March 2024. This report is only part of the company's annual accounts and reports.

Business review
Turnover for the year was £13,843,293, marking an approximate 15% increase from £11,993,767 in 2023.

The gross margin amounted to £3,490,093, with a margin of 25%, slightly lower than the previous year’s £3,246,207 and a 27% margin.

The company saw a significant drop in trading profit before tax, which stood at £68,985, compared to £862,070 in the prior year.

Current assets at the end of the year were £4,876,661, up from £4,134,955 in 2023, with cash reserves increasing to £72,222 from £39,447.

Current liabilities (amounts falling due within one year) rose to £5,044,688, from £3,474,067 in the previous year.

Liabilities due beyond one year decreased to £912,150, compared to £1,418,764 in 2023.

Capital and reserves at the end of the year stood at £579,373 down from £970,783 in the previous period.

Key performance indicators
The directors use key performance indicators such as like-for-like turnover, gross margin, operating profit margin, wage cost, EBITDA, and cash flow to monitor business performance. Additionally, non-financial measures, including health and safety audits and staff turnover, are regularly reviewed. The directors continuously evaluate the development team, processes, and training to ensure the delivery of the highest quality products.

The company’s objective is to achieve year-on-year revenue growth, with debtors and cash balances increasing in line with sales, while carefully managing and limiting the growth of administrative expenses.

Principal risks and uncertainties
Fluctuations in global and regional economies can significantly impact demand for logistics services. Economic downturns may lead to reduced shipping volumes and lower revenue. The logistics sector is also highly sensitive to changes in fuel prices; sudden increases can elevate transportation costs, affecting profit margins if these costs cannot be passed on to customers.

Moreover, events such as natural disasters, geopolitical conflicts, pandemics, and trade barriers can disrupt supply chains, resulting in delays, increased costs, and reduced operational efficiency. The industry must navigate extensive regulatory requirements related to transportation safety, environmental standards, and labor laws, with non-compliance potentially leading to penalties and reputational damage.

Rapid technological advancements present both opportunities and risks. Failure to adopt innovations like automation, AI, and data analytics could result in a competitive disadvantage. Additionally, the growing emphasis on reducing carbon emissions and adopting sustainable practices can increase operational costs, particularly as regulations around emissions become more stringent.

While the company management has developed specific plans to deal with these risk areas and the directors consider such plans to be adequate, not all risk factors are within management control.

Financial risk management objectives and policies
The directors have identified the financial risk management objectives as minimising any threats to the continued financial well-being and stability of the company. The directors seek to minimise financial risk through the maintenance of a system of internal controls, sourcing products and services at the most competitive prices and maintaining close relationships with customers.

The directors are responsible for the company's system of internal control and for evaluating its effectiveness. Such a system is designed to manage rather than eliminate the risk of failure to achieve business objectives and can only provide reasonable and not absolute assurance against material misstatement or loss.

Key elements of the company's system of internal controls include management accounts including comparison with prior periods and ad-hoc reports produced for the directors when deemed necessary by senior management. Reliance is placed on senior management to ensure effective control.

The Report of the Independent Auditors is unqualified and the Auditors Statement on the consistency of the Directors' Report and Strategic Report with the Financial Statements is also unqualified.

ON BEHALF OF THE BOARD:



HBC LOGISTICS LTD (REGISTERED NUMBER: 10681180)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024




B R Weldon - Director


20 May 2025

HBC LOGISTICS LTD (REGISTERED NUMBER: 10681180)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of freight transport by road & logistics.

DIVIDENDS
The total distribution of dividends for the year ended 31 March 2024 will be £ 249,600 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

S J Ketteridge
D B Northfield
B R Weldon

POLITICAL DONATIONS AND EXPENDITURE
During the year, the company made donations of £4,325 (2023: £9,412) which are not related to any political donations and expenditure.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

The financial statements for the year ended 31 March 2023 were not audited and the comparatives includes unaudited figures.

AUDITORS
The auditors, Macalvins Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





B R Weldon - Director


20 May 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
HBC LOGISTICS LTD

Opinion
We have audited the financial statements of HBC Logistics Ltd (the 'company') for the year ended 31 March 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Other Matter
The financial statements of the HBC Logistics Ltd for the year ended 31 March 2023 were not audited. Accordingly, we do not express an opinion on the comparative figures for the year ended 31 March 2023. Our opinion on the current year's financial statements is not modified in respect of this matter.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
HBC LOGISTICS LTD


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and on - compliance with laws and regulations, we considered the following:

- the nature of the industry and sector, control environment and business performance including the design of the company's remuneration policies, key drivers for directors’ remuneration, bonus levels and performance targets;
- results of our enquiries of management about their own identification and assessment of the risks of irregularities;
- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

These matters were discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and local tax legislation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
HBC LOGISTICS LTD


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Shailesh Patel (Senior Statutory Auditor)
for and on behalf of Macalvins Limited
Chartered Accountants
and Statutory Auditors
7 St John's Road
Harrow
Middlesex
HA1 2EY

20 May 2025

HBC LOGISTICS LTD (REGISTERED NUMBER: 10681180)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

31.3.24 31.3.23
as restated
Notes £    £   

TURNOVER 3 13,843,293 11,993,767

Cost of sales 10,353,200 8,747,560
GROSS PROFIT 3,490,093 3,246,207

Administrative expenses 3,368,204 2,339,529
121,889 906,678

Other operating income 61,870 38,400
OPERATING PROFIT 5 183,759 945,078


Interest payable and similar expenses 6 114,774 83,008
PROFIT BEFORE TAXATION 68,985 862,070

Tax on profit 7 210,795 112,473
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(141,810

)

749,597

HBC LOGISTICS LTD (REGISTERED NUMBER: 10681180)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024

31.3.24 31.3.23
as restated
Notes £    £   

(LOSS)/PROFIT FOR THE YEAR (141,810 ) 749,597


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

(141,810

)

749,597

HBC LOGISTICS LTD (REGISTERED NUMBER: 10681180)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23 1.4.22
as restated
Notes £    £    £   
FIXED ASSETS
Tangible assets 10 2,088,835 2,037,207 791,120

CURRENT ASSETS
Debtors 11 4,804,439 4,095,508 2,082,728
Cash at bank and in hand 72,222 39,447 161,867
4,876,661 4,134,955 2,244,595
CREDITORS
Amounts falling due within one year 12 (5,044,688 ) (3,474,067 ) (2,117,837 )
NET CURRENT (LIABILITIES)/ASSETS (168,027 ) 660,888 126,758
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,920,808

2,698,095

917,878

CREDITORS
Amounts falling due after more than one year 13 (912,150 ) (1,418,764 ) (282,279 )

PROVISIONS FOR LIABILITIES 16 (429,285 ) (308,548 ) (150,313 )
NET ASSETS 579,373 970,783 485,286

CAPITAL AND RESERVES
Called up share capital 17 6 6 6
Retained earnings 18 579,367 970,777 485,280
SHAREHOLDERS' FUNDS 579,373 970,783 485,286

The financial statements were approved by the Board of Directors and authorised for issue on 20 May 2025 and were signed on its behalf by:




B R Weldon - Director S J Ketteridge - Director




D B Northfield - Director


HBC LOGISTICS LTD (REGISTERED NUMBER: 10681180)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 6 485,280 485,286

Changes in equity
Dividends - (264,100 ) (264,100 )
Total comprehensive income - 749,597 749,597
Balance at 31 March 2023 6 970,777 970,783

Changes in equity
Dividends - (249,600 ) (249,600 )
Total comprehensive income - (141,810 ) (141,810 )
Balance at 31 March 2024 6 579,367 579,373

HBC LOGISTICS LTD (REGISTERED NUMBER: 10681180)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

31.3.24 31.3.23
as restated
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,572,584 1,742,463
Interest paid (49,586 ) (4,911 )
Interest element of hire purchase payments paid (65,188 ) (78,097 )
Tax paid 390,197 (180,527 )
Net cash from operating activities 1,848,007 1,478,928

Cash flows from investing activities
Purchase of tangible fixed assets (1,036,612 ) (2,136,633 )
Sale of tangible fixed assets 71,187 36,557
Net cash from investing activities (965,425 ) (2,100,076 )

Cash flows from financing activities
Loan repaid to Intercompany - KNW (24,116 ) (1,443 )
Loan to intercompany - Smart (79,538 ) (1,139 )
New Bank Loan - 577,623
Bank Loans repaid (375,396 ) -
Capital repayments in year (110,240 ) 993,855
Amount withdrawn by directors (10,917 ) (806,068 )
Equity dividends paid (249,600 ) (264,100 )
Net cash from financing activities (849,807 ) 498,728

Increase/(decrease) in cash and cash equivalents 32,775 (122,420 )
Cash and cash equivalents at beginning of year 2 39,447 161,867

Cash and cash equivalents at end of year 2 72,222 39,447

HBC LOGISTICS LTD (REGISTERED NUMBER: 10681180)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.3.24 31.3.23
as restated
£    £   
Profit before taxation 68,985 862,070
Depreciation charges 870,531 470,773
Loss on disposal of fixed assets 43,267 383,217
Finance costs 114,774 83,008
1,097,557 1,799,068
Increase in trade and other debtors (717,643 ) (1,106,408 )
Increase in trade and other creditors 1,192,670 1,049,803
Cash generated from operations 1,572,584 1,742,463

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 72,222 39,447
Year ended 31 March 2023
31.3.23 1.4.22
as restated
£    £   
Cash and cash equivalents 39,447 161,867


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank and in hand 39,447 32,775 72,222
39,447 32,775 72,222
Debt
Finance leases (1,341,566 ) 110,240 (1,231,326 )
Debts falling due within 1 year (172,086 ) 43,185 (128,901 )
Debts falling due after 1 year (623,371 ) 332,213 (291,158 )
(2,137,023 ) 485,638 (1,651,385 )
Total (2,097,576 ) 518,413 (1,579,163 )

HBC LOGISTICS LTD (REGISTERED NUMBER: 10681180)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

HBC Logistics Ltd 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
The financial statements have been prepared in accordance with Financial Reporting Standard 102 " The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.The financial statements have been prepared under the historical cost convention.The financial statements for the year ended 31 March 2023 were not audited and the comparatives includes unaudited figures.

Turnover
Revenue is measured at the fair value of consideration received or receivable, net of VAT, trade discounts, and rebates.

Revenue is recognised and measured when all the following conditions are met:
- The significant risks and rewards of ownership or service delivery have been transferred to the
customer.
- The amount of revenue can be measured reliably.
- It is probable that economic benefits will flow to the company.
- The costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from Logistics services, UPN services & Pallet Force services are recognised at the point in time when the goods & services are delivered to the final destination and performance obligation is fulfilled once delivery is confirmed, and the customer assumes control of the goods & services.

Revenue from storage and floor space rental is recognised over time on a straight-line basis, in accordance with the period of occupancy agreed with customers. The performance obligation is satisfied continuously over the rental term, reflecting ongoing access to storage facilities. Fuel surcharge income is recognised in line with the underlying logistics services to which the surcharge relates. The performance obligation is satisfied when the associated delivery is completed, as the surcharge is considered a component of the transport service. Revenue from carbon offsetting services is recognised when the offsetting service has been procured or committed on behalf of the customer, typically at the point the corresponding environmental credit or certificate is acquired. The performance obligation is fulfilled when the offset action has effectively taken place.

Other revenue streams include ancillary services such as parcel handling, container hire, or short-term equipment use. These services are recognised at the point the service is delivered, when the specific obligation to the customer is met.

Tangible fixed assets
Tangible fixed assets are recognised when:
- It is probable that the future economic benefits associated with the asset will flow to the entity; and
- The cost of the asset can be measured reliably.

Initial recognition includes the purchase price and any costs directly attributable to bringing the asset into working condition for its intended use.

Tangible fixed assets are measured initially at cost. Cost includes all expenditure directly attributable to bringing the asset into working condition for its intended use, including delivery, installation, and any related professional fees. Subsequent to initial recognition, assets are carried at cost less accumulated depreciation and impairment losses.

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
- Improvements to property - Over the period of the lease
- Plant and machinery - 25% on cost
- Fixtures and fittings - 25% on cost
- Motor vehicles - 33% on cost
- Computer equipment - 33% on cost

HBC LOGISTICS LTD (REGISTERED NUMBER: 10681180)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Cash & Cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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.


HBC LOGISTICS LTD (REGISTERED NUMBER: 10681180)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

31.3.24 31.3.23
as restated
£    £   
Carbon Neutral 21,832 9,944
Fuel surcharge 366,956 453,292
Logistics 10,146,785 9,916,338
Other Sales 46,791 34,369
Pallet Sales 436,299 -
Storage 1,038,019 655,160
UPN Sales 1,786,611 924,664
13,843,293 11,993,767

HBC LOGISTICS LTD (REGISTERED NUMBER: 10681180)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. COST OF SALES

31.3.24 31.3.23
as restated
£    £   
Owners & Employed Driver Cost 7,111,274 6,561,918
Fuel Costs 479,463 493,268
Pallet Cost 363,671 -
2nd Tier Suppliers 934,488 573,943
Other Costs 178,221 169,772
Wages 1,153,505 856,808
Social Security Cost 104,713 91,851
Pension 27,865 -
10,353,200 8,747,560

The average number of employees during the year was as follows:
31.3.24 31.3.23
as restated
47 34

5. OPERATING PROFIT

The operating profit is stated after charging:

Administrative expenses:

31.3.2431.3.23
as restated
£   £   
Rent & Service Charges937,921354,819
Directors Salaries50,40050,400
Repairs & Renewals222,444222,381
Telephone85,94239,024
Travelling & Motor Expenses330,569299,108
Subscriptions114,87580,643
Hire of Plant & Machinery150,86254,453
Accountancy Fees58,65528,952
Audit Fees16,000-
Professional Fees9,81819,711
Entertainment84,92987,620
Bad Debts41,0361,790
Other Expenses229,015160,171
Bank Charges121,94086,466
Depreciation870,531470,774
Loss on disposal of fixed assets43,267383,217
3,368,2042,339,529

Other operating income:

31.3.2431.3.23
as restated
£   £   
Other Income61,87038,400
61,87038,400

HBC LOGISTICS LTD (REGISTERED NUMBER: 10681180)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.3.24 31.3.23
as restated
£    £   
Bank loan interest 32,245 4,911
Interest on Overdue PAYE & Tax 8,406 -
Penalty on Overdue PAYE & Tax 8,935 -
Hire purchase 65,188 78,097
114,774 83,008

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.3.24 31.3.23
as restated
£    £   
Current tax:
UK corporation tax 90,058 (45,762 )

Deferred tax 120,737 158,235
Tax on profit 210,795 112,473

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.3.24 31.3.23
as restated
£    £   
Profit before tax 68,985 862,070
Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 -
19%)

17,246

163,793

Effects of:
Expenses not deductible for tax purposes 47,292 95,409
Capital allowances in excess of depreciation - (304,965 )
Depreciation in excess of capital allowances 25,520 -
Deferred Tax 120,737 158,236
Total tax charge 210,795 112,473

8. DIVIDENDS
31.3.24 31.3.23
as restated
£    £   
Ordinary A shares of £1 each
Interim 83,200 88,034
Ordinary B shares of £1 each
Interim 83,200 88,033
Ordinary C shares of £1 each
Interim 83,200 88,033
249,600 264,100

HBC LOGISTICS LTD (REGISTERED NUMBER: 10681180)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. PRIOR YEAR ADJUSTMENT

During the year ended 31 March 2024, the company identified that certain capital expenditures and assets from the previous years had excess capital allowances claimed beyond the limits permitted under applicable tax regulations. As a result, the financial position for the previous years were misstated. This error has been corrected retrospectively in accordance with FRS 102 Section 10.22. The comparative figures have been restated, and the opening balance of retained earnings has been adjusted to reflect the correction.

These errors have been corrected by restating each of the affected financial statement line items in the prior periods as follows:

31.3.2231.3.22Difference
Effect on financial position(as previously reported)(as restated)
£   £   £   
Retained Earnings514,225485,280(28,945)
Effect on reserves(28,945)

Corporation tax payable-28,94528,945
Effect on liabilities28,945


31.3.2331.3.23Difference
Effect on financial position(as previously reported)(as restated)
£   £   £   
Improvement to Property - Additions111,453180,45469,001
Improvement to Property - Depreciation(3,715)(20,965)(17,250)
Directors Loan Account802,500806,0683,568
Effect on assets55,319

Retained Earnings514,225516,4101,915
Effect on reserves1,915


Corporation tax payable-53,40453,404
Effect on liabilities53,404

These adjustments have been applied retrospectively. The opening retained earnings as at 1 April 2022 has been restated, and the comparative figures for 2022 and 2023 now reflect the corrected tax and asset positions.

HBC LOGISTICS LTD (REGISTERED NUMBER: 10681180)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 180,454 467,828 445,856
Additions - 10,154 395,998
Disposals - - (52,471 )
At 31 March 2024 180,454 477,982 789,383
DEPRECIATION
At 1 April 2023 20,965 43,790 63,829
Charge for year 12,030 118,522 153,386
Eliminated on disposal - - -
At 31 March 2024 32,995 162,312 217,215
NET BOOK VALUE
At 31 March 2024 147,459 315,670 572,168
At 31 March 2023 159,489 424,038 382,027

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 1,465,764 31,421 2,591,323
Additions 630,460 - 1,036,612
Disposals (256,215 ) - (308,686 )
At 31 March 2024 1,840,009 31,421 3,319,249
DEPRECIATION
At 1 April 2023 417,343 8,189 554,116
Charge for year 576,119 10,473 870,530
Eliminated on disposal (194,232 ) - (194,232 )
At 31 March 2024 799,230 18,662 1,230,414
NET BOOK VALUE
At 31 March 2024 1,040,779 12,759 2,088,835
At 31 March 2023 1,048,421 23,232 2,037,207

HBC LOGISTICS LTD (REGISTERED NUMBER: 10681180)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2023 220,126 1,338,674 1,558,800
Additions - 590,260 590,260
Disposals (27,031 ) (248,215 ) (275,246 )
At 31 March 2024 193,095 1,680,719 1,873,814
DEPRECIATION
At 1 April 2023 27,483 354,333 381,816
Charge for year 45,458 537,813 583,271
Eliminated on disposal - (190,232 ) (190,232 )
At 31 March 2024 72,941 701,914 774,855
NET BOOK VALUE
At 31 March 2024 120,154 978,805 1,098,959
At 31 March 2023 192,643 984,341 1,176,984

11. DEBTORS
31.3.24 31.3.23
as restated
£    £   
Amounts falling due within one year:
Net Trade debtors 2,612,015 2,197,039
Other debtors 813,559 495,115
Directors' curr accts less 1yr 816,985 806,068
Corporation Tax Receivable - 99,165
Prepayments and accrued income 436,986 452,763
4,679,545 4,050,150

Amounts falling due after more than one year:
Amounts owed by group undertakings 124,894 45,358

Aggregate amounts 4,804,439 4,095,508

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
as restated
£    £   
Bank loans and overdrafts (see note 14) 128,901 172,086
Hire purchase contracts (see note 15) 610,334 546,173
Trade creditors 1,015,001 723,251
Amounts owed to group undertakings 625,333 649,448
Corporation Tax payable 464,634 83,544
Social security and other taxes 29,691 29,714
Pension Payable 13,502 -
VAT 164,195 132,806
Other creditors 1,539,077 910,983
Accrued expenses 454,020 226,062
5,044,688 3,474,067

HBC LOGISTICS LTD (REGISTERED NUMBER: 10681180)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Amount owed to group undertakings are unsecured, interest free and payable on demand.

The company has entered into a legal assignment of certain contract receivables and rights, a fixed and floating charge security over the assets of the entity, as well as a debenture arrangement in favour of HSBC UK Bank PLC as security for banking facilities made available to the company. Under the terms of the charges, HSBC UK Bank PLC has the right to enforce direct collection of assigned contract monies and the right to claim ownership of the assets and the net assets of the entity in the event of a default. At the reporting date, there has been no default or event of default under the associated agreements, and no demand has been made by the lender.

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
as restated
£    £   
Bank loans (see note 14) 291,158 623,371
Hire purchase contracts (see note 15) 620,992 795,393
912,150 1,418,764

14. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
as restated
£    £   
Amounts falling due within one year or on demand:
Bank loans 128,901 172,086

Amounts falling due between one and two years:
Bank loans - 1-2 years 135,559 172,086

Amounts falling due between two and five years:
Bank loans - 2-5 years 155,599 451,285

The company had a loan facility of £214,320 from Investec & £229,000 from Lending Crowd, which was made available to company in October 2022. This is to be repaid in 60 monthly installments . As at 31 March 2024, the outstanding amount is £121,467 & £187,960 respectively.

The company was granted the Government's Coronavirus Business Interruption Loan (CBIL) amounting to £163,000 in May 2020 and an additional loan amounting £80,000 on September 2020.This is to be repaid in 25 equal monthly installment and interest at 3.99 % + Bank of England Base Rate commencing in May 2021 & September 2021. As at 31 March 2024, the outstanding amount is £110,633.

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.24 31.3.23
as restated
£    £   
Net obligations repayable:
Within one year 610,334 546,173
Between one and five years 574,180 795,393
In more than five years 46,812 -
1,231,326 1,341,566

HBC LOGISTICS LTD (REGISTERED NUMBER: 10681180)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

15. LEASING AGREEMENTS - continued

Non-cancellable operating leases
31.3.24 31.3.23
as restated
£    £   
Within one year 579,899 400,104
Between one and five years 2,899,495 2,897,906
In more than five years 4,349,243 4,917,226
7,828,637 8,215,236

The company leases office premises under a non-cancellable operating lease with a term of 15 years, commencing on 22 September 2022, the lease commencement date. Rent payments began on 22 July 2023 and are payable quarterly in advance. The lease does not include any contingent rent, purchase options, or provisions for renewal or extension.

Finance lease payments represent rentals payable by the company for certain motor vehicles, fixtures & fittings. Leases include purchase options at the end of the lease period and no restrictions are placed on the use of the assets.The average lease term is 3 years. All leases are on a fixed repayment basis and no arrangements have been entered into contingent rental payments.

16. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
as restated
£    £   
Deferred tax 429,285 308,548

Deferred
tax
£   
Balance at 1 April 2023 308,548
Provided during year 120,737
Balance at 31 March 2024 429,285

HBC LOGISTICS LTD (REGISTERED NUMBER: 10681180)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

16. PROVISIONS FOR LIABILITIES - continued

A deferred tax liability has been recognised as follows:

Timing Difference31.3.2431.3.23
£   £   
as restated
Accelerated capital allowances429,285308,548
Tax losses carried forward--
Net Deferred Tax Liability429,285308,548


Accelerated capital allowances:
31.3.2431.3.23
£   £   
as restated
NBV of assets per accounts2,088,8332,037,207
Less: NBV of non-qualifying assets 267,612352,132
NBV of qualifying assets1,821,2211,685,075

WDV of qualifying assets104,08361,141
Total104,08361,141

Excess of NBV over WDV1,717,1381,623,935

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: as restated
£    £   
2 Ordinary A £1 2 2
2 Ordinary B £1 2 2
2 Ordinary C £1 2 2
6 6

18. RESERVES
Retained
earnings
£   

At 1 April 2023 970,777
Deficit for the year (141,810 )
Dividends (249,600 )
At 31 March 2024 579,367

19. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption available in accordance with FRS 102 Section 33 'Related Party Disclosures' not to disclose transactions entered into between two or more members of a group, as the company is a wholly owned subsidiary undertaking of the group to which it is party to the transactions.