Registration number:
|
Point2Point Logistics Limited |
Point2Point Logistics Limited
Contents
|
Balance Sheet |
|
|
Notes to the Unaudited Financial Statements |
Point2Point Logistics Limited
(Registration number: 07429971)
Balance Sheet as at 30 November 2024
|
Note |
2024 |
2023 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Current assets |
|||
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
|
|
|
|
Retained earnings |
|
|
|
|
Shareholders' funds |
|
|
For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
|
• |
|
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Point2Point Logistics Limited
(Registration number: 07429971)
Balance Sheet as at 30 November 2024
Approved and authorised for issue by the
Mr I S Altass
Director
Point2Point Logistics Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024
|
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
The principal place of business is:
UL Strumykowa 15
Sadlinki
82-522
Poland
These financial statements were authorised for issue by the
|
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
All amounts are in £'s unless otherwise stated.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Point2Point Logistics Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024
Foreign currency transactions and balances
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Office equipment |
33% straight line/25% reducing balance |
|
Motor vehicles |
25% reducing balance |
Stocks
Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Point2Point Logistics Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.
Point2Point Logistics Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024
Financial instruments
Classification
Recognition and measurement
Basic financial liabilities 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. 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. Other creditors are classified as current liabilities if payment is due within one year or less and are recognised initially at transaction price and subsequently measured at the undiscounted amount of the cash expected to be paid. If not, they are presented as non-current liabilities and are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Trade creditors and leases are referred to above.
Impairment
If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
|
Staff numbers |
The average number of persons employed by the company (including directors under service contract) during the year, was
|
Profit before tax |
Arrived at after charging/(crediting)
|
2024 |
2023 |
|
|
Depreciation expense |
|
|
Point2Point Logistics Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024
|
Tangible assets |
|
Land and buildings |
Fixtures and fittings |
Motor vehicles |
Total |
|
|
Cost or valuation |
||||
|
At 1 December 2023 |
|
|
|
|
|
Additions |
- |
|
- |
|
|
Disposals |
- |
( |
( |
( |
|
At 30 November 2024 |
|
|
|
|
|
Depreciation |
||||
|
At 1 December 2023 |
- |
|
|
|
|
Charge for the year |
- |
|
|
|
|
Eliminated on disposal |
- |
( |
( |
( |
|
At 30 November 2024 |
- |
|
|
|
|
Carrying amount |
||||
|
At 30 November 2024 |
|
|
|
|
|
At 30 November 2023 |
|
|
|
|
Included within the net book value of land and buildings above is £25,000 (2023 - £25,000) in respect of freehold land and buildings.
|
Debtors |
|
Current |
Note |
2024 |
2023 |
|
Trade debtors |
|
|
|
|
Amounts owed by related parties |
|
|
|
|
Prepayments |
|
|
|
|
Other debtors |
|
|
|
|
|
|
Point2Point Logistics Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024
|
Creditors |
Creditors: amounts falling due within one year
|
Note |
2024 |
2023 |
|
|
Due within one year |
|||
|
Loans and borrowings |
|
|
|
|
Trade creditors |
|
|
|
|
Taxation and social security |
|
|
|
|
Accruals and deferred income |
|
|
|
|
Other creditors |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
Note |
2024 |
2023 |
|
|
Due after one year |
|||
|
Loans and borrowings |
|
|
|
Share capital |
Allotted, called up and fully paid shares
|
2024 |
2023 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
100 |
|
100 |
|
Loans and borrowings |
|
2024 |
2023 |
|
|
Non-current loans and borrowings |
||
|
Bank borrowings |
|
|
Point2Point Logistics Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024
|
2024 |
2023 |
|
|
Current loans and borrowings |
||
|
Bank borrowings |
|
|
|
Bank overdrafts |
|
|
|
Finance lease liabilities |
- |
|
|
|
|
|
|
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
|
2024 |
2023 |
|
|
Not later than one year |
|
- |
|
Later than one year and not later than five years |
|
- |
|
|
- |
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
|
Related party transactions |
|
Transactions with directors |
|
2024 |
At 1 December 2023 |
Advances to director |
Repayments by director |
At 30 November 2024 |
|
Mr I S Altass |
||||
|
Director's loan (2.25% interest) |
|
|
( |
|
|
2023 |
At 1 December 2022 |
Advances to director |
Repayments by director |
At 30 November 2023 |
|
Mr I S Altass |
||||
|
Director's loan (2.25% interest) |
|
|
( |
|