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REGISTERED NUMBER: 14184389 (England and Wales)









Audited Financial Statements

for the Year Ended 30 September 2024

for

Simply Cargo Wholesale Limited

Simply Cargo Wholesale Limited (Registered number: 14184389)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Simply Cargo Wholesale Limited (Registered number: 14184389)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £   
FIXED ASSETS
Tangible assets 5 1,971 2,521

CURRENT ASSETS
Debtors 6 5,302,994 984,648
Cash at bank 459,750 1,300,863
5,762,744 2,285,511
CREDITORS
Amounts falling due within one year 7 (4,335,226 ) (1,624,024 )
NET CURRENT ASSETS 1,427,518 661,487
TOTAL ASSETS LESS CURRENT LIABILITIES 1,429,489 664,008

PROVISIONS FOR LIABILITIES (492 ) (630 )
NET ASSETS 1,428,997 663,378

CAPITAL AND RESERVES
Called up share capital 8 160 160
Retained earnings 1,428,837 663,218
SHAREHOLDERS' FUNDS 1,428,997 663,378

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 25 June 2025 and were signed on its behalf by:





Mr P D Curran - Director


Simply Cargo Wholesale Limited (Registered number: 14184389)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Simply Cargo Wholesale Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 14184389

Registered office: Floats Road
Roundthorne Industrial Estate
Wythenshawe
Manchester
M23 9NJ

The presentation currency of the financial statements is the Pound Sterling (£).


The last year was extended to a 15 month period to align with the other companies within the group. Therefore, the comparatives are not entirely comparable.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
The turnover shown in the statement of income and retained earnings represents amounts invoiced during the year, upon delivery of goods to the customer, exclusive of value added tax. Income is recognised at the point goods arrive at their destination.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost

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.


Simply Cargo Wholesale Limited (Registered number: 14184389)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company has the ability to trade in the future with support from the directors and other connected companies. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 October 2023
and 30 September 2024 2,750
DEPRECIATION
At 1 October 2023 229
Charge for year 550
At 30 September 2024 779
NET BOOK VALUE
At 30 September 2024 1,971
At 30 September 2023 2,521

6. DEBTORS
30.9.24 30.9.23
£    £   
Amounts falling due within one year:
Trade debtors 908,045 925,877
Amounts owed by group undertakings 1,909,390 -
Other debtors 1,988,817 58,771
4,806,252 984,648

Simply Cargo Wholesale Limited (Registered number: 14184389)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

6. DEBTORS - continued
30.9.24 30.9.23
£    £   
Amounts falling due after more than one year:
Other debtors 496,742 -

Aggregate amounts 5,302,994 984,648

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 134,164 200,793
Amounts owed to group undertakings - 156,511
Taxation and social security 255,863 180,612
Other creditors 3,945,199 1,086,108
4,335,226 1,624,024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
160 Ordinary 1 160 160

There are no restrictions on these shares.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Taylor BFP FCA (Senior Statutory Auditor)
for and on behalf of Harts Limited

10. ULTIMATE CONTROLLING PARTY

The controlling party is Venture Asset Management Limited.

The ultimate controlling party is VAM Will Trust.

The consolidated financial statements are available upon request from the registered office of the controlling party, Venture Asset Management Limited. The company is registered at the address:

Floats Road
Manchester
England,
M23 9NJ