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Registered number: 09573636
The Logistics Organisation Ltd
Strategic Report, Directors' Report and
Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Strategic Report 1
Directors' Report 2
Independent Auditor's Report 3—6
Profit and Loss Account 7
Statement of Comprehensive Income 8
Balance Sheet 9
Statement of Changes in Equity 10
Statement of Cash Flows 11
Notes to the Statement of Cash Flows 12
Notes to the Financial Statements 13—18
Page 1
Strategic Report
The directors present their strategic report for the year ended 31 December 2024.
Principal Activity
The Logistics Organisation (TLO) is a Transport company that provides final mile logistics solutions. TLO is known
for a client-driven, metric driven, high quality service that builds strong customer relationships that it has held from
inception to current day.
We partner with logistics providers who understand the quality we bring and who also have the same values for
compliance and safety that we have, values we feel are non-negotiables.
Review of the Business
During the last financial year, we have seen great growth in terms of service offerings (within the current client portfolio), which has kept us in one of our major clients’ “top 10 suppliers within the UK”. The last few years, the company has been focusing on growing its owned vehicle fleet to strengthen the business’s financial position. This is a long-term strategy and will continue this year, but the high resell prices we have seen in previous years have taken a slight dip. The vehicle market has changed, and while vehicle sales will remain part of our longer-term strategy, the level of profit previously realised is no longer achievable and is unlikely to return in the foreseeable future.
We will therefore continue vehicle sales as part of our broader business strategy, but our focus will shift more towards refining the operational elements of the business, exploring new profit streams within our current portfolio, and developing newer service offerings. To support this shift, we have sourced a new vehicle provider who can offer similar discounts to our previous supplier, but with a lower vehicle price point, resulting in a significant cost saving from the previous product.
We are still seeing the effects of the Covid pandemic and Brexit, both the positives and negatives. The positives include the continued demand for our services, while the negatives lie in the ongoing challenge of driver availability to fulfil this demand. Despite these recruitment difficulties, we have continued to grow and have achieved our biggest turnover year to date.
During the last few financial years, we also expanded our “Same day” side of the business, which has become a key part of our long-term strategy. We are actively identifying additional work for drivers who are not currently servicing our main customers on certain days. This initiative not only supports greater driver engagement but also enables us to grow our service offerings and customer base while contributing positively to the bottom line. Greater driver engagement also helps to reduce driver churn and ensures lower onboarding costs.
Principal Risks and Uncertainties
The transport industry is known for its low margins and high costs, but there is profit if the risks are managed
carefully.
The current risks we see are the continued rise in demand for delivery services meaning an increased demand for
drivers and competition for drivers remaining high. There is still a lower number of drivers to fulfil all the delivery
roles which in turn is pushing the cost of a driver up beyond the normal payment levels. TLO is an established
company with a good reputation and have drivers come back to us because of this reputation, which lowers the risk.
We also have a high number of driver recommendations which again helps with our ability to recruit.
The loss of key staff is always a risk factor in any business and TLO are no different. We continually review the
package and benefits we offer, ensuring they are competitive.
We also have a small family run business mentality and meet regularly with our staff to ensure we deal with any
issues face to face.
On behalf of the board
Mr K A Page
Director
24th July 2025
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 31 December 2024.
Dividends
The value of dividends paid amounted to £111,792 .
The directors recommended a final dividend of £NIL .
Directors
The directors who held office during the year were as follows:
Mr K A Page
Mr A Ungurianu
Statement of Directors' Responsibilities
The directors are responsible for preparing the Strategic Report, the Directors' Report 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, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', 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 the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
  • 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.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Directors' Report is approved: 
  • so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
  • they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
Independent Auditors
The auditors, Edmund Carr LLP, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.
On behalf of the board
Mr K A Page
Director
24th July 2025
Page 2
Page 3
Independent Auditor's Report
Opinion
We have audited the financial statements of The Logistics Organisation Ltd for the year ended 31 December 2024 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement and the related notes, 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:
  • give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit/(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 Auditor's 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.
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 entity's ability to continue as a going concern for a period of at least 12 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 other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
  • the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.
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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 Directors' Report.
We have nothing to report in respect of the following matters in relation to which 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 or 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 Directors' Responsibilities Statement set out on page 2, 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 is 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.
Page 4
Page 5
Auditor's 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 an auditor's report 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.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 
Our approach to identifying and assessing the risks of material misstatement in repect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
  • The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.
  • We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations for the company, including the Companies Act 2006, tax legislation and data protection, anti-bribery, employment, environmental and health and safety legislation.
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur by:
  • Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud.
  • Considering the internal controls in place to mitigate the risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
  • Performed analytical procedures to identify any unusual or unexpected relationships.
  • Tested journal entries to identify unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
  • Agreeing financial statement disclosures to underlying supporting documentation.
  • Enquiring of management as to actual and potential litigation and claims.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instance of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealement, forgery, collusion, omission or misprepresentation. 
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
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 that we are required to state to them in an auditor's report 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.
Page 5
Page 6
Thomas York FCCA (Senior Statutory Auditor)
for and on behalf of Edmund Carr LLP , Statutory Auditor
24th July 2025
Edmund Carr LLP
146 New London Road
Chelmsford
Essex
CM2 0AW
Page 6
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Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 25,760,447 20,963,094
Cost of sales (23,569,333 ) (19,415,877 )
GROSS PROFIT 2,191,114 1,547,217
Administrative expenses (1,352,543 ) (1,186,382 )
Other operating income 16,252 31,000
OPERATING PROFIT 4 854,823 391,835
Profit on disposal of fixed assets 107,933 614,102
Other interest receivable and similar income 9 712 703
Interest payable and similar charges 10 (403,607 ) (385,449 )
PROFIT BEFORE TAXATION 559,861 621,191
Tax on Profit 11 (197,000 ) (300,000 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 362,861 321,191
The notes on pages 12 to 18 form part of these financial statements.
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Statement of Comprehensive Income
2024 2023
£ £
PROFIT FOR THE FINANCIAL YEAR 362,861 321,191
OTHER COMPREHENSIVE INCOME FOR THE YEAR - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 362,861 321,191
Page 8
Page 9
Balance Sheet
Registered number: 09573636
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 12 4,218,416 2,725,772
4,218,416 2,725,772
CURRENT ASSETS
Debtors 13 4,540,945 4,343,608
Cash at bank and in hand 1,593,218 942,662
6,134,163 5,286,270
Creditors: Amounts Falling Due Within One Year 14 (5,131,224 ) (4,235,425 )
NET CURRENT ASSETS (LIABILITIES) 1,002,939 1,050,845
TOTAL ASSETS LESS CURRENT LIABILITIES 5,221,355 3,776,617
Creditors: Amounts Falling Due After More Than One Year 15 (3,286,117 ) (2,289,448 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 18 (557,000 ) (360,000 )
NET ASSETS 1,378,238 1,127,169
CAPITAL AND RESERVES
Called up share capital 20 100 100
Profit and Loss Account 1,378,138 1,127,069
SHAREHOLDERS' FUNDS 1,378,238 1,127,169
On behalf of the board
Mr K A Page
Director
24th July 2025
The notes on pages 12 to 18 form part of these financial statements.
Page 9
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Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 January 2023 100 844,167 844,267
Profit for the year and total comprehensive income - 321,191 321,191
Dividends paid - (38,289) (38,289)
As at 31 December 2023 and 1 January 2024 100 1,127,069 1,127,169
Profit for the year and total comprehensive income - 362,861 362,861
Dividends paid - (111,792) (111,792)
As at 31 December 2024 100 1,378,138 1,378,238
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Page 11
Statement of Cash Flows
2024 2023
Notes £ £
Cash flows from operating activities
Net cash generated from operations 1 3,990,192 889,258
Interest paid (249,820 ) (263,260 )
Net cash generated from operating activities 3,740,372 625,998
Cash flows from investing activities
Purchase of tangible assets (22,838 ) (3,747 )
Proceeds from disposal of tangible assets 890,412 1,347,024
Proceeds from disposal of investment in subsidiary undertaking - 20,000
Interest received 712 703
Net cash generated from investing activities 868,286 1,363,980
Cash flows from financing activities
Equity dividends paid (111,792 ) (38,289 )
Repayment of bank borrowings (694,328 ) (100,097 )
Proceeds from new other loans - 22,475
Repayment of finance leases (2,230,150 ) (1,583,051 )
Amount withdrawn by directors (185,123) -
Net cash used in financing activities (3,221,393 ) (1,698,962 )
Increase in cash and cash equivalents 1,387,265 291,016
Cash and cash equivalents at beginning of year 2 46,800 (244,216 )
Cash and cash equivalents at end of year 2 1,434,065 46,800
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Notes to the Statement of Cash Flows
1. Reconciliation of profit for the financial year to cash generated from operations
2024 2023
£ £
Profit for the financial year 362,861 321,191
Adjustments for:
Tax on profit 197,000 300,000
Interest expense 249,820 263,260
Interest income (712 ) (702 )
Depreciation of tangible assets 901,697 723,965
Profit on disposal of tangible assets (107,933) (614,102)
Movements in working capital:
Increase in trade and other debtors (197,337 ) (816,613 )
Increase in trade and other creditors 2,584,796 712,259
Net cash generated from operations 3,990,192 889,258
2. Cash and cash equivalents
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:
2024 2023
£ £
Cash at bank and in hand 1,593,218 942,662
Overdraft facilities repayable on demand (159,153 ) (895,862 )
Cash and cash equivalents as stated in the Statement of Cash Flows 1,434,065 46,800
3. Analysis of changes in net debt
As at 1 January 2024 Cash flows As at 31 December 2024
£ £ £
Cash at bank and in hand 942,662 650,556 1,593,218
Overdraft facilities repayable on demand (895,862) 736,709 (159,153)
Cash and cash equivalents 46,800 1,387,265 1,434,065
Finance leases (2,832,452) (1,409,258) (4,241,710)
Debts falling due after more than one year (160,838) 102,257 (58,581)
(2,946,490) 80,264 (2,866,226)
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Notes to the Financial Statements
1. General Information
The Logistics Organisation Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09573636 . The registered office is Zone 2 Sion Park, Stansted Road, Bishop's Stortford, CM23 5PU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 20% Reducing balance method
Fixtures & Fittings 25% Straight line method
Motor vehicles were depreciated at 25% Reducing balance method in the year ended 31/12/2023
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Other Operating Income
2024 2023
£ £
Other operating income 16,252 31,000
16,252 31,000
4. Operating Profit
The operating profit is stated after charging:
2024 2023
£ £
Bad debts - 91,032
Depreciation of tangible fixed assets 901,697 723,965
5. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
2024 2023
£ £
Audit Services
Audit of the company's financial statements 17,000 16,000
6. Staff Costs
Staff costs, including directors' remuneration, were as follows:
2024 2023
£ £
Wages and salaries 825,510 686,631
Social security costs 37,928 31,521
Other pension costs 51,494 46,246
914,932 764,398
7. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2024 2023
Office and administration 6 5
6 5
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8. Directors' remuneration
2024 2023
£ £
Emoluments 172,000 177,193
Company contributions to money purchase pension schemes 48,000 43,600
220,000 220,793
The number of directors to whom retirement benefits were accruing was as follows:
2024 2023
Money purchase pension schemes 2 2
9. Interest Receivable and Similar Income
2024 2023
£ £
Bank interest receivable 712 703
10. Interest Payable and Similar Charges
2024 2023
£ £
Bank loans and overdrafts 21,492 43,882
Factoring charges 153,787 122,189
Finance charges payable under finance leases and hire purchase contracts 220,076 218,019
Other finance charges 8,252 1,359
403,607 385,449
11. Tax on Profit
The tax charge on the profit for the year was as follows:
Tax Rate 2024 2023
2024 2023 £ £
Current tax
UK Corporation Tax 25.0% 25.0% - -
Deferred Tax
Deferred taxation 197,000 300,000
Total tax charge for the period 197,000 300,000
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
2024 2023
£ £
Profit before tax 559,861 621,191
Tax on profit at 25% (UK standard rate) 139,965 155,298
...CONTINUED
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Expenses not deductible for tax purposes 281,922 63,289
Tax losses utilised 176,727 (133,979 )
Capital allowances (598,614 ) (84,608 )
Total tax charge for the period - -
12. Tangible Assets
Land & Property
Freehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2024 172,597 3,461,121 96,861 3,730,579
Additions - 3,172,382 4,438 3,176,820
Disposals - (1,035,838 ) (16,912 ) (1,052,750 )
As at 31 December 2024 172,597 5,597,665 84,387 5,854,649
Depreciation
As at 1 January 2024 - 924,129 80,678 1,004,807
Provided during the period - 890,640 11,057 901,697
Disposals - (253,359 ) (16,912 ) (270,271 )
As at 31 December 2024 - 1,561,410 74,823 1,636,233
Net Book Value
As at 31 December 2024 172,597 4,036,255 9,564 4,218,416
As at 1 January 2024 172,597 2,536,992 16,183 2,725,772
Included within the net book value of land and buildings above is £172,597 (2023 - £172,597) in respect of freehold land and buildings.
13. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,397,217 1,455,177
Other debtors 3,143,728 2,888,431
4,540,945 4,343,608
14. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 1,014,174 703,842
Trade creditors 2,036,059 1,593,618
Bank loans and overdrafts 159,153 895,862
Other creditors 341,789 204,235
Taxation and social security 1,351,613 772,418
Accruals and deferred income 228,436 65,450
5,131,224 4,235,425
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Creditors include Lloyds Bank Commercial Finance which is secured by a fixed and floating charge over all property and assets present and future.
15. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,227,536 2,128,610
Bank loans due > 1 year 58,581 160,838
3,286,117 2,289,448
16. Loans
An analysis of the maturity of loans is given below:
2024 2023
£ £
Amounts falling due between one and five years:
Bank loans 58,581 160,838
17. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 1,014,174 703,842
Later than one year and not later than five years 3,227,536 2,128,610
4,241,710 2,832,452
4,241,710 2,832,452
18. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 557,000 360,000
19. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 January 2024 360,000 360,000
Reversals 197,000 197,000
Balance at 31 December 2024 557,000 557,000
20. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
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21. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 14,274 14,274
Later than one year and not later than five years 34,496 48,770
48,770 63,044
The amount of non-cancellable operating lease payments recognised as an expense during the year was £14,274 (2023 - £14,274)
22. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
During the year the charge to the profit and loss account in respect of defined contribution schemes was £51,494 (2023: £46,246).
At the balance sheet date contributions of £0 (2023: £356) were due to the fund and are included in creditors.
23. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mr Keith Page (899 ) 134,834 (44,996 ) - 88,939
Mr Andrei Ungurianu (496 ) 96,680 - - 96,184
The above loan is unsecured, interest free and repayable on demand.
24. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 111,792 38,289
Interim dividend of £1,118.00 (2023 - £383.000) per ordinary Share
25. Related Party Disclosures
Summary of transactions with entities with joint control or significant interest
Companies under joint control
Included in turnover is £182,738 (2023: £583,792) from an associated company. There is also £nil (2023
£31,000) of other income received in respect of management charges from the same company. Finally, additional
invoices of £285,591 have been raised during the year to cover direct running costs (2023: £331,104) was charged by
the related business.
At the balance sheet date £53,558 (2023: £88,254) was owed by the associate and is included within debtors.
Included in turnover is £35,726 (2023: £18,453) from another associated company. Additional invoices of £nil
(2023: £72,706) have been raised during the year to cover direct running costs.
At the balance sheet date £101,708 (2023: £102,381) was owed by the associate and is included within
creditors.
Included in turnover is £16,252 (2023: £5,136) from another associated company. Additional invoices of £nil (2023 £17,438)
have been raised in the year to cover direct running costs.
At the balance sheet date £56,082 (2023: £458,944) was owed by the associate and is included within debtors.
At the balance sheet date £740,356 (2023: £922,261) was owed from another associated company.
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