Registered number
06626550
White Glove Logistics Limited
Unaudited Filleted Financial Statements
For the Year Ended
30 June 2020
White Glove Logistics Limited
Registered number: 06626550
Balance Sheet as at 30 June 2020
Notes 2020 2019
£ £
Fixed assets
Tangible assets 3 700 2,312
Current assets
Debtors 4 3,956 3,465
Cash at bank and in hand 310 13
4,266 3,478
Creditors: amounts falling due within one year 5 (19,049) (22,380)
Net current liabilities (14,783) (18,902)
Net liabilities (14,083) (16,590)
Capital and reserves
Called up share capital 100 100
Profit and loss account (14,183) (16,690)
Shareholder's funds (14,083) (16,590)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr S.C. Tose
Director
Approved by the board on 23 October 2020
White Glove Logistics Limited
Notes to the Accounts
for the year ended 30 June 2020
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the Standard).
Going concern
Whilst covid 19 has had some impact on trading in the current year, the director believes the company is still experiencing healthy levels of sales and profitability and that it is well placed to manage its business risks successfully. Accordingly he has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus he continues to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Turnover from the sale of goods is recognised when goods are delivered and legal title has passed.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and Machinery 5 years straight line basis
Motor Vehicles 6 years straight line basis
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Grants
Grants are recognised using the accrual model per section 24 of FRS102. Revenue grants appear as other operating income on a sytematic basis over the period the company expects to incur the related costs the grant is intended to compensate for.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight line basis.
2 Employees 2020 2019
Number Number
Average number of persons employed by the
company (including director) during the year 3 3
3 Tangible fixed assets
Plant and Machinery Motor Vehicles Total
£ £ £
Cost
At 1 July 2019 3,139 13,885 17,024
At 30 June 2020 3,139 13,885 17,024
Depreciation
At 1 July 2019 2,383 12,329 14,712
Charge for the year 432 1,180 1,612
At 30 June 2020 2,815 13,509 16,324
Net book value
At 30 June 2020 324 376 700
At 30 June 2019 756 1,556 2,312
4 Debtors 2020 2019
£ £
Trade debtors 2,770 849
Other debtors 1,186 2,616
3,956 3,465
5 Creditors: amounts falling due within one year 2020 2019
£ £
Bank loan and overdraft 11,436 15,651
Trade creditors 635 729
Taxes and social security costs 1,468 1,019
Other creditors 4,119 2,262
Accruals 1,391 2,719
19,049 22,380
6 Other financial commitments 2020 2019
£ £
Total future minimum payments under non-cancellable operating leases 120 5,270
7 Other information
White Glove Logistics Limited is a private company limited by shares and incorporated in England. Its registered office is : 17 Marsh Grove, Edgerton, Huddersfield, England, HD3 3AG
The financial statements are presented in Sterling, which is the functional currency of the company.
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