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Registered number: 07844946
Local Hero Logistics Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
DH Accountants & Tax Advisors Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07844946
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,000 2,000
Tangible Assets 5 458,996 354,573
460,996 356,573
CURRENT ASSETS
Debtors 6 27,235 4,878
Cash at bank and in hand 5,984 18,738
33,219 23,616
Creditors: Amounts Falling Due Within One Year 7 (103,629 ) (24,360 )
NET CURRENT ASSETS (LIABILITIES) (70,410 ) (744 )
TOTAL ASSETS LESS CURRENT LIABILITIES 390,586 355,829
Creditors: Amounts Falling Due After More Than One Year 8 (197,986 ) (199,659 )
NET ASSETS 192,600 156,170
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 192,599 156,169
SHAREHOLDERS' FUNDS 192,600 156,170
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr John Faulkner
Director
27/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Local Hero Logistics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07844946 . The registered office is Office 4, First Floor Long Lane, Walton, Liverpool, Merseyside, L9 7DT.
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 section 1A Small Entities "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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.
2.4. 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 18% Write Down
Computer Equipment 18% Straight Line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 8)
4 8
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2023 2,000
As at 30 November 2024 2,000
Net Book Value
As at 30 November 2024 2,000
As at 1 December 2023 2,000
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5. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 December 2023 692,001 1,297 693,298
Additions 168,107 216 168,323
As at 30 November 2024 860,108 1,513 861,621
Depreciation
As at 1 December 2023 338,110 615 338,725
Provided during the period 63,631 269 63,900
As at 30 November 2024 401,741 884 402,625
Net Book Value
As at 30 November 2024 458,367 629 458,996
As at 1 December 2023 353,891 682 354,573
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 27,235 -
Other debtors - 4,878
27,235 4,878
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 76,561 14,721
Other creditors 9,605 500
Taxation and social security 17,463 9,139
103,629 24,360
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 197,986 199,659
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 4
Page 5
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2023 Amounts advanced Amounts repaid Amounts written off As at 30 November 2024
£ £ £ £ £
Mr John Faulkner 4,877 52,814 57,691 - -
The above loan is unsecured, interest free and repayable on demand.
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