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Registration number: 07429971

Point2Point Logistics Limited

Annual Report and Unaudited Financial Statements

for the year ended 30 November 2024

 

Point2Point Logistics Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Point2Point Logistics Limited

(Registration number: 07429971)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

47,652

72,819

Current assets

 

Debtors

6

1,077,173

725,046

Cash at bank and in hand

 

68,775

22,798

 

1,145,948

747,844

Creditors: Amounts falling due within one year

7

(1,075,551)

(680,219)

Net current assets

 

70,397

67,625

Total assets less current liabilities

 

118,049

140,444

Creditors: Amounts falling due after more than one year

7

(31,148)

(16,663)

Provisions for liabilities

(5,663)

(2,746)

Net assets

 

81,238

121,035

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

81,138

120,935

Shareholders' funds

 

81,238

121,035

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 29 July 2025 and signed on its behalf by:
 


Mr I S Altass

Director

 

Point2Point Logistics Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
30 Bear Street
BARNSTAPLE
Devon
EX32 7DD

The principal place of business is:
UL Strumykowa 15
Sadlinki
82-522
Poland

These financial statements were authorised for issue by the Board on 29 July 2025.

2

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

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

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
Basic financial assets include trade and other debtors, cash and bank balances. Basic financial liabilities include trade and other payables, bank loans and preference shares that are classified as debt.
 Recognition and measurement
Basic financial assets are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method. Other debtors are classified as current assets if payment is due within one year or less and are initially recorded at transaction price and subsequently measured at the undiscounted amount of the cash expected to be received. Trade debtors are referred to above.

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
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

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.

3

Staff numbers

The average number of persons employed by the company (including directors under service contract) during the year, was 1 (2023 - 0).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

11,455

16,060

 

Point2Point Logistics Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2023

25,000

43,994

90,578

159,572

Additions

-

3,485

-

3,485

Disposals

-

(10,268)

(49,343)

(59,611)

At 30 November 2024

25,000

37,211

41,235

103,446

Depreciation

At 1 December 2023

-

32,032

54,721

86,753

Charge for the year

-

3,624

7,831

11,455

Eliminated on disposal

-

(9,369)

(33,045)

(42,414)

At 30 November 2024

-

26,287

29,507

55,794

Carrying amount

At 30 November 2024

25,000

10,924

11,728

47,652

At 30 November 2023

25,000

11,962

35,857

72,819

Included within the net book value of land and buildings above is £25,000 (2023 - £25,000) in respect of freehold land and buildings.
 

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

535,228

312,130

Amounts owed by related parties

11

420,689

335,034

Prepayments

 

30,152

5,363

Other debtors

 

91,104

72,519

   

1,077,173

725,046

 

Point2Point Logistics Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

41,614

34,986

Trade creditors

 

868,237

517,594

Taxation and social security

 

156,786

118,201

Accruals and deferred income

 

6,208

7,113

Other creditors

 

2,706

2,325

 

1,075,551

680,219

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

31,148

16,663

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

31,148

16,663

 

Point2Point Logistics Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

2024
£

2023
£

Current loans and borrowings

Bank borrowings

22,315

9,952

Bank overdrafts

19,299

17,271

Finance lease liabilities

-

7,763

41,614

34,986

10

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

14,370

-

Later than one year and not later than five years

26,345

-

40,715

-

The amount of non-cancellable operating lease payments recognised as an expense during the year was £3,831 (2023 - £Nil).

11

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)

335,033

405,724

(320,068)

420,689

         
       

 

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)

168,121

310,616

(143,704)

335,033