REGISTERED NUMBER: 06243052 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Mita Logistics Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Directors:

P G Newton

S A Newton

D J Heathcote

Secretary:

S A Newton

Registered office:

Pwll Mawr

Trelogan

Holywell

Flintshire

CH8 9BZ

Registered number:

06243052 (England and Wales)

Accountants:

Ellis & Co

Chartered Accountants

114-120 Northgate Street

Chester

CH1 2HT

Fixed assets

Tangible assets

4

179,434

358,692

Current assets

Debtors

5

317,507

470,905

Cash at bank

103,735

103,377

421,242

574,282

Creditors

Amounts falling due within one year

6

320,885

518,589

Net current assets

100,357

55,693

Total assets less current liabilities

279,791

414,385

Creditors

Amounts falling due after more than one year

7

(7,983

)

(46,661

)

Provisions for liabilities

9

(44,859

)

(89,673

)

Net assets

226,949

278,051

Capital and reserves

Called up share capital

100

100

Retained earnings

226,849

277,951

Shareholders' funds

226,949

278,051

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2025 and were signed on its behalf by:

P G Newton - Director

1.	Statutory information

Mita Logistics Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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.

Plant and machinery

-

Straight line over between 2 & 7 years

Fixtures, fittings and equipment

-

Straight line over 4 years

Motor vehicles

-

Straight line over between 2 & 10 years

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under hire purchase agreements and finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

3.	Employees and directors

The average number of employees during the year was 17 (2023 - 18 ) .

4.	Tangible fixed assets

Fixtures,

fittings

Plant and

and

Motor

machinery

equipment

vehicles

Totals

£

£

£

£

Cost

At 1 January 2024

29,610

39,765

1,647,568

1,716,943

Additions

-

741

-

741

Disposals

(3,850

)

-

(428,575

)

(432,425

)

At 31 December 2024

25,760

40,506

1,218,993

1,285,259

Depreciation

At 1 January 2024

25,461

31,868

1,300,922

1,358,251

Charge for year

2,684

4,341

143,924

150,949

Eliminated on disposal

(3,850

)

-

(399,525

)

(403,375

)

At 31 December 2024

24,295

36,209

1,045,321

1,105,825

Net book value

At 31 December 2024

1,465

4,297

173,672

179,434

At 31 December 2023

4,149

7,897

346,646

358,692

5.

Debtors: amounts falling due within one year

31/12/24

31/12/23

£

£

Trade debtors

278,910

400,432

Other debtors

38,597

70,473

317,507

470,905

6.

Creditors: amounts falling due within one year

31/12/24

31/12/23

£

£

Bank loans and overdrafts

9,600

9,600

Hire purchase contracts

19,946

120,740

Trade creditors

122,387

200,224

Taxation and social security

137,200

135,495

Other creditors

31,752

52,530

320,885

518,589

7.

Creditors: amounts falling due after more than one year

31/12/24

31/12/23

£

£

Bank loans

5,212

15,351

Hire purchase contracts

2,771

31,310

7,983

46,661

8.	Secured debts

The following secured debts are included within creditors:

31/12/24

31/12/23

£

£

Hire purchase contracts

22,717

152,050

Debts under hire purchase contracts are secured on the underlying asset.

9.	Provisions for liabilities

31/12/24

31/12/23

£

£

Deferred tax

Accelerated capital allowances

44,859

89,673

Deferred

tax

£

Balance at 1 January 2024

89,673

Credit to Statement of Income and Retained Earnings during year

(44,814

)

Balance at 31 December 2024

44,859

10.	Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31/12/24

31/12/23

£

£

P G Newton

Balance outstanding at start of year

22,735

62,076

Amounts advanced

61,289

48,971

Amounts repaid

(52,556

)

(88,312

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

31,468

22,735

S A Newton

Balance outstanding at start of year

18,785

-

Amounts advanced

6,577

32,097

Amounts repaid

(19,097

)

(13,312

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

6,265

18,785

The maximum balances outstanding during the year were P G Newton £69,000 and S A Newton £18,785. Advances to P G Newton included £11,259 on 31 January 2024, £22,000 on 20 February 2024 and £10,452 on 31 July 2024. Repayments from P G Newton included £20,000 on 19 March 2024 and £31,500 on 14 May 2024. Advances to S A Newton included £6,577 on 31 July 2024. Repayments included £18,785 on 14 May 2024. Loans to directors are interest free, unsecured and repayable on demand.