Registered number
06626550
White Glove Logistics Limited
Information for Filing with The Registrar of Companies
For the Year Ended
30 June 2017
White Glove Logistics Limited
Registered number: 06626550
Balance Sheet as at 30 June 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 3 8,131 12,029
Current assets
Debtors 4 1,890 3,369
Cash at bank and in hand 51 1
1,941 3,370
Creditors: amounts falling due within one year 5 (24,968) (31,273)
Net current liabilities (23,027) (27,903)
Total assets less current liabilities (14,896) (15,874)
Creditors: amounts falling due after one year 6 (8,019) (8,019)
Net liabilities (22,915) (23,893)
Capital and reserves
Called up share capital 100 100
Profit and loss account (23,015) (23,993)
Shareholder's funds (22,915) (23,893)
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 9 March 2018
White Glove Logistics Limited
Notes to the Accounts
for the year ended 30 June 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
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.
Leased assets
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a contant periodic rate of charge on the net obligation outstanding in each period.
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 2017 2016
Number Number
Average number of persons employed by the
company (including director) during the year 2 2
3 Tangible fixed assets
Plant and Machinery Motor Vehicles Total
£ £ £
Cost
At 1 July 2016 3,139 20,385 23,524
At 30 June 2017 3,139 20,385 23,524
Depreciation
At 1 July 2016 876 10,619 11,495
Charge for the year 501 3,397 3,898
At 30 June 2017 1,377 14,016 15,393
Net book value
At 30 June 2017 1,762 6,369 8,131
At 30 June 2016 2,263 9,766 12,029
4 Debtors 2017 2016
£ £
Trade debtors 575 1,828
Prepayments 1,315 1,541
1,890 3,369
5 Creditors: amounts falling due within one year 2017 2016
£ £
Bank loan and overdraft 14,079 17,624
Finance lease & hire purchase obligations (secured) - 1,919
Trade creditors 670 670
Other taxes and social security costs - 2,578
Other creditors 7,713 7,083
Accruals 2,506 1,399
24,968 31,273
The finance lease and hire purchase creditors are secured on the assets concerned.
6 Creditors: amounts falling due after one year 2017 2016
£ £
Bank loan 6,000 6,000
Finance lease & hire purchase obligations (secured) 2,019 2,019
8,019 8,019
The finance lease and hire purchase creditors are secured on the assets concerned.
7 Other financial commitments 2017 2016
£ £
Total future minimum payments under non-cancellable operating leases 5,700 9,300
8 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
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