Lutterworth Logistics Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05295692 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Lutterworth Logistics Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S J J Butler

REGISTERED OFFICE:

Park House

37 Clarence Street

Leicester

LE1 3RW

BUSINESS ADDRESS:

c/o Keenpac

29 Centurion Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WH

REGISTERED NUMBER:

05295692 (England and Wales)

ACCOUNTANTS:

torr waterfield

Park House

37 Clarence Street

Leicester

Leicestershire

LE1 3RW

FIXED ASSETS

Tangible assets

4

201,366

212,054

CURRENT ASSETS

Debtors

5

620,063

739,875

Cash at bank

-

40

620,063

739,915

CREDITORS

Amounts falling due within one year

6

656,095

693,278

NET CURRENT (LIABILITIES)/ASSETS

(36,032

)

46,637

TOTAL ASSETS LESS CURRENT LIABILITIES

165,334

258,691

CREDITORS

Amounts falling due after more than one year

7

(64,995

)

(89,105

)

PROVISIONS FOR LIABILITIES

(38,260

)

(40,290

)

NET ASSETS

62,079

129,296

CAPITAL AND RESERVES

Called up share capital

9

3

3

Retained earnings

62,076

129,293

SHAREHOLDERS' FUNDS

62,079

129,296

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 4 September 2019 and were signed by:

S J J Butler - Director

1.	STATUTORY INFORMATION

Lutterworth 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

10% on cost

Plant and machinery

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2017 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2018

4,598

1,990

157

Additions

-

1,060

-

At 31 December 2018

4,598

3,050

157

DEPRECIATION

At 1 January 2018

460

498

52

Charge for year

460

565

52

At 31 December 2018

920

1,063

104

NET BOOK VALUE

At 31 December 2018

3,678

1,987

53

At 31 December 2017

4,138

1,492

105

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2018

396,394

12,793

415,932

Additions

49,250

316

50,626

At 31 December 2018

445,644

13,109

466,558

DEPRECIATION

At 1 January 2018

191,448

11,420

203,878

Charge for year

59,447

790

61,314

At 31 December 2018

250,895

12,210

265,192

NET BOOK VALUE

At 31 December 2018

194,749

899

201,366

At 31 December 2017

204,946

1,373

212,054

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

461,277

583,075

Other debtors

158,786

156,800

620,063

739,875

Trade debtors of £316,770 (2017: £355,490) are subject to a factoring agreement.

Other debtors includes prepayments of £31,250 (2017: £2,942).

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Bank loans and overdrafts

26,224

33,233

Hire purchase contracts

46,903

53,677

Trade creditors

107,274

123,810

Taxation and social security

127,723

119,862

Other creditors

347,971

362,696

656,095

693,278

Other creditors includes accruals and deferred income of £58,777 (2017: £7,021).

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.18

31.12.17

£

£

Hire purchase contracts

64,995

89,105

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.18

31.12.17

£

£

Hire purchase contracts

111,898

142,782

Factoring account

263,826

313,090

375,724

455,872

Hire purchase liabilities are secured on the individual assets being so acquired. The factoring account is secured

against trade debtors.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.18

31.12.17

value:

£

£

1

Ordinary A

£1

1

1

1

Ordinary B

£1

1

1

1

Ordinary C

£1

1

1

3

3

10.	OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments, guarantees and contingencies that are not included in the balance

sheet is £62,988 (2017: £20,996).

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2018 and

31 December 2017:

31.12.18

31.12.17

£

£

S J J Butler

Balance outstanding at start of year

-

-

Amounts advanced

65,997

-

Amounts repaid

(65,997

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

The loan was repayable on demand and interest was charged at the HMRC official rate.