REGISTERED NUMBER: 14086744 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

L.I.T. LOGISTICS SOLUTIONS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

C Durach

REGISTERED OFFICE:

1&2 Mercia Business Village

Torwood Close

Westwood Business Park

Coventry

West Midlands

CV4 8HX

REGISTERED NUMBER:

14086744 (England and Wales)

INDEPENDENT AUDITORS:

Armstrongs Accountancy Ltd

Chartered Accountants and Statutory Auditor

1 & 2 Mercia Village

Torwood Close

Westwood Business Park

Coventry

West Midlands

CV4 8HX

FIXED ASSETS

Tangible assets

4

145,124

144,229

CURRENT ASSETS

Stocks

50,804

-

Debtors

5

789,250

753,171

Cash at bank

554,123

136,407

1,394,177

889,578

CREDITORS

Amounts falling due within one year

6

282,648

171,325

NET CURRENT ASSETS

1,111,529

718,253

TOTAL ASSETS LESS CURRENT LIABILITIES

1,256,653

862,482

CREDITORS

Amounts falling due after more than one year

7

2,048,815

1,902,061

NET LIABILITIES

(792,162

)

(1,039,579

)

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

10

(792,163

)

(1,039,580

)

SHAREHOLDERS' FUNDS

(792,162

)

(1,039,579

)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 September 2025 and were signed by:

C Durach - Director

1.	STATUTORY INFORMATION

The presentation currency of the financial statements is the Pound Sterling (£), rounded to the nearest £.

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.

The principal accounting policies adopted are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern

The directors have a reasonable expectation that L.I.T Lager & Logistik Holding GmbH has adequate resources to continue to support L.I.T Logistics Solutions Limited and, therefore, continues to adopt the going concern basis of accounting on preparing the annual audited financial statements.

In the course of the preparation of the audited financial statements, the directors have sought comfort from L.I.T Lager & Logistik Holding GmbH as to their continued financial support for a period of 12 months from the date of these financial statements. This support has been confirmed in writing.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from logistics contracts is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that 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.

Short leasehold

-

Depreciated equally over lease period

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

25% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Computer

leasehold

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

116,949

1,707

51,020

427

170,103

Additions

-

6,361

19,737

3,714

29,812

Disposals

-

(129

)

-

-

(129

)

At 31 December 2024

116,949

7,939

70,757

4,141

199,786

DEPRECIATION

At 1 January 2024

10,937

249

14,626

62

25,874

Charge for year

14,618

1,908

11,226

1,036

28,788

At 31 December 2024

25,555

2,157

25,852

1,098

54,662

NET BOOK VALUE

At 31 December 2024

91,394

5,782

44,905

3,043

145,124

At 31 December 2023

106,012

1,458

36,394

365

144,229

5.

DEBTORS

2024

2023

as restated

£

£

Amounts falling due within one year:

Trade debtors

16,912

53,673

VAT

-

38,841

Called up share capital not paid

1

1

Accrued income

125,787

-

Prepayments

272,841

273,391

415,541

365,906

Amounts falling due after more than one year:

Other debtors

373,709

387,265

Aggregate amounts

789,250

753,171

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Trade creditors

142,089

110,891

Social security and other taxes

53,464

6,630

Pension

2,139

257

VAT

68,585

-

Accrued expenses

16,371

53,547

282,648

171,325

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

as restated

£

£

Amounts owed to group undertakings

2,048,815

1,902,061

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

as restated

£

£

Within one year

985,417

985,417

Between one and five years

246,354

1,231,772

1,231,771

2,217,189

9.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2024

2023

value:

as restated

£

£

1

Share capital 1

1

1

1

10.

RESERVES

Retained

earnings

£

At 1 January 2024

(1,039,580

)

Profit for the year

247,417

At 31 December 2024

(792,163

)

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

Muhammed Shabbir FCA, FCCA (Senior Statutory Auditor)

for and on behalf of Armstrongs Accountancy Ltd

12.	RELATED PARTY DISCLOSURES

During the period, the company paid a total of £86,668 (7 months to 31.12.2023 - £86,333) for consultancy and travel costs to Logiworx Ltd, which is controlled by Ms S L Evans, who is also a director of the company as at the balance sheet date.

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is L.I.T. LAGER & LOGISTIK HOLDING GMBH, incorporated in Germany.

Registered office address: Otto-Hahn-Straße 18, 26919 Brake/Deutschland, a copy of the group accounts can be obtained at the registered office address.