Display Logistics Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03781120 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

DISPLAY LOGISTICS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr SR Jacques

Mrs SM Jacques

Mr DL Jacques

Mrs ESM Havard

SECRETARY:

Mr SR Jacques

REGISTERED OFFICE:

20 Centurion Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WH

REGISTERED NUMBER:

03781120 (England and Wales)

FIXED ASSETS

Tangible assets

4

-

60,603

CURRENT ASSETS

Debtors

5

80,025

117,183

Cash at bank

-

163,197

80,025

280,380

CREDITORS

Amounts falling due within one year

6

49,625

258,924

NET CURRENT ASSETS

30,400

21,456

TOTAL ASSETS LESS CURRENT
LIABILITIES

30,400

82,059

CREDITORS

Amounts falling due after more than one year

7

-

16,290

NET ASSETS

30,400

65,769

CAPITAL AND RESERVES

Called up share capital

30,100

Capital redemption reserve

300

Retained earnings

-

35,369

SHAREHOLDERS' FUNDS

30,400

65,769

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2025 and were signed on its behalf by:

Mr DL Jacques - Director

Mrs ESM Havard - Director

1.	STATUTORY INFORMATION

Display Logistics Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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 represents net invoiced sales of goods and services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration and on completion of work.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on cost

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Government grants

During the year the company received monies under the Coronavirus Job Retention Scheme. The amounts received are included within the accounts on an accruals basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

COST

At 1 January 2024

42,463

69,593

47,118

159,174

Disposals

(42,463

)

(69,593

)

(47,118

)

(159,174

)

At 31 December 2024

-

DEPRECIATION

At 1 January 2024

32,312

39,596

26,663

98,571

Eliminated on disposal

(32,312

)

(39,596

)

(26,663

)

(98,571

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

10,151

29,997

20,455

60,603

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2024

29,753

Disposals

(29,753

)

At 31 December 2024

-

DEPRECIATION

At 1 January 2024

9,298

Eliminated on disposal

(9,298

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

20,455

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

-

46,462

Amounts owed by group undertakings

30,400

7,500

Other debtors

49,625

63,221

80,025

117,183

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Hire purchase contracts (see note 8)

-

5,762

Trade creditors

-

14,219

Amounts owed to group undertakings

49,625

141,000

Taxation and social security

-

90,962

Other creditors

-

6,981

49,625

258,924

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

£

Hire purchase contracts (see note 8)

-

16,290

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

Net obligations repayable:

Within one year

-

5,762

Between one and five years

-

16,290

-

22,052

Non-cancellable

operating leases

2024

2023

£

Within one year

198,500

Between one and five years

794,000

In more than five years

595,500

794,000

1,588,000

1,786,500

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Hire purchase contracts

-

22,052

The overdraft facility is secured by way of a fixed and floating charge over the assets of the company.

Hire purchase contracts are secured on the assets to which they relate.

10.	ULTIMATE CONTROLLING PARTY

The company's ultimate parent company is D & E Leicester Limited which is registered in England and Wales. D & E Leicester Limited is under the control of Mr DL Jacques and Mrs ESM Havard by virtue of their directorship and shareholdings.