B & D Logistics Limited
B & D Logistics Limited
Registered number: 10075543
Unaudited Financial Statements
For The Year Ended 31 March 2019
H.J. Hedges-Quinn & Co Ltd
ACCA
The Old Astra Cinema
The Street
Great Bricett
Suffolk
IP7 7DN
B & D Logistics Limited
Unaudited Financial Statements
For The Year Ended 31 March 2019
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
B & D Logistics Limited
Balance Sheet
As at
31 March 2019
Balance Sheet
Registered number:
10075543
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 6 |
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| CURRENT ASSETS | |||||
| Debtors | 7 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 8 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 9 |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation | 11 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 12 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 1,339 | 1,535 | |||
Page 1
B & D Logistics Limited
Balance Sheet (continued)
As at
31 March 2019
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 3 to 6 form part of these financial statements.
Page 2
B & D Logistics Limited
Notes to the Financial Statements
For The Year Ended 31 March 2019
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Motor Vehicles |
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| Computer Equipment |
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1.4.
Leasing and Hire Purchase Contracts
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 the 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 constant 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 profit and loss account as incurred.
1.5.
Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
Page 3
B & D Logistics Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2019
3.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2019 | 2018 | ||
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| Sales, marketing and distribution |
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6.
Tangible Assets
| Motor Vehicles | Computer Equipment | Total | |
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| Cost | |||
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| Additions |
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| Disposals |
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| Depreciation | |||
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| Provided during the period |
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| Disposals |
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| Net Book Value | |||
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Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
| 2019 | 2018 | ||
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| £ | £ | ||
| Motor Vehicles |
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Page 4
B & D Logistics Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2019
7.
Debtors
| 2019 | 2018 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| Directors' loan accounts | 13,924 | 14,250 | |
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8.
Creditors: Amounts Falling Due Within One Year
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| Net obligations under finance lease and hire purchase contracts |
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| Trade creditors |
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| Bank loans and overdrafts | - |
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| Corporation tax |
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| Other taxes and social security |
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| VAT |
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| Accruals and deferred income |
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9.
Creditors: Amounts Falling Due After More Than One Year
| 2019 | 2018 | ||
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| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
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10.
Obligations Under Finance Leases and Hire Purchase
| 2019 | 2018 | ||
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| £ | £ | ||
| The maturity of these amounts is as follows: | |||
| Amounts Payable: | |||
| Within one year |
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| Between one and five years |
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Page 5
B & D Logistics Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2019
11.
Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances
| 2019 | 2018 | ||
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| Deferred tax |
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13.
Directors Advances, Credits and Guarantees
The director Mr D Smith has secured the bank loan.
Included within Debtors are the following loans to directors:
| As at |
Amounts advanced | Amounts repaid | Amounts written off | As at |
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| £ | £ | £ | £ | £ | |
| Mr Benjamin Bemrose |
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| Mr Darren Smith |
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The above loan is unsecured, interest free and repayable on demand.
Dividends paid to directors
| 2019 | 2018 | |
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| £ | £ | |
| Mr Benjamin Bemrose | 17,000 | 12,000 |
| Mr Darren Smith | 17,000 | 12,000 |
14.
Ultimate Controlling Party
The company's ultimate controlling party is Mr B Bemrose and Mr D Smith by virtue of their ownership of 50% each of the issued share capital in the company.
15.
General Information
B & D Logistics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10075543 . The registered office is Jubilee Bungalow, Grove Hill, Belstead, Ipswich, Suffolk, IP8 3LU.
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