Inline Logistics Limited - Period Ending 2019-03-31

Registration number: 02670632

Inline Logistics Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2019

Inline Logistics Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 8

Inline Logistics Limited

Company Information

Directors	Miss Kelly Smith Miss Kim Tracey Smith Mr Graham Harold Smith

Company secretary

Miss Kim Tracey Smith

Registered office

Winghams House 9 Freeport Office Village Century Drive Braintree Essex CM77 8YG

Accountants

Anthony Russel Limited Winghams House 9 Freeport Office Village Century Drive Braintree Essex CM77 8YG

Page 1

Inline Logistics Limited

(Registration number: 02670632)
Balance Sheet as at 31 March 2019

	Note	2019  £	2018  £
Fixed assets
Tangible assets	4	8,171	9,838
Investment property	5	-	849,903
		8,171	859,741
Current assets
Debtors	7	331,384	720,244
Cash at bank and in hand		797,901	1,692,832
		1,129,285	2,413,076
Creditors: Amounts falling due within one year	8	(676,273)	(1,754,431)
Net current assets		453,012	658,645
Total assets less current liabilities		461,183	1,518,386
Provisions for liabilities		(1,553)	(1,870)
Net assets		459,630	1,516,516
Capital and reserves
Called up share capital		1,000	1,000
Profit and loss account		458,630	1,515,516
Total equity		459,630	1,516,516

For the financial 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.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

The notes on pages 4 to 8 form an integral part of these financial statements.

Page 2

Inline Logistics Limited

(Registration number: 02670632)
Balance Sheet as at 31 March 2019

Approved and authorised by the Board on 28 October 2019 and signed on its behalf by:
 

.........................................

Mr Graham Harold Smith
Director

The notes on pages 4 to 8 form an integral part of these financial statements.

Page 3

Inline Logistics Limited

Notes to the Financial Statements for the Year Ended 31 March 2019

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Winghams House
9 Freeport Office Village
Century Drive
Braintree
Essex
CM77 8YG
England

The principal place of business is:
East Bank
High Street
Guilsborough
Northamptonshire
NN6 8PY
England

These financial statements were authorised for issue by the Board on 28 October 2019.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Page 4

Inline Logistics Limited

Notes to the Financial Statements for the Year Ended 31 March 2019

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% reducing balance
Fixtures and fittings	15% on cost
Office equipment	25% on cost

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. Changes in fair value are recognised in profit or loss.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2018 - 8).

4	Tangible assets

	Furniture, fittings and office equipment  £	Total £
Cost or valuation
At 1 April 2018	48,473	48,473
Additions	2,849	2,849
At 31 March 2019	51,322	51,322
Depreciation
At 1 April 2018	38,635	38,635
Charge for the year	4,516	4,516
At 31 March 2019	43,151	43,151
Carrying amount
At 31 March 2019	8,171	8,171
At 31 March 2018	9,838	9,838

Page 5

Inline Logistics Limited

Notes to the Financial Statements for the Year Ended 31 March 2019

5	Investment properties

	2019 £
At 1 April	849,903
Additions	246,988
Disposals	(1,096,891)
At 31 March	-

6	Investments

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2019	2018

Subsidiary undertakings
Consult Inline Limited		Ordinary	100%	100%

The principal activity of Consult Inline Limited is dormant.

7

Debtors

	2019  £	2018  £
Trade debtors	299,413	437,137
Other debtors	26,682	278,872
Prepayments	5,289	4,235
Total current trade and other debtors	331,384	720,244

Page 6

Inline Logistics Limited

Notes to the Financial Statements for the Year Ended 31 March 2019

8

Creditors

Creditors: amounts falling due within one year

	Note	2019  £	2018  £
Due within one year
Trade creditors		239,299	678,676
Director current account	10	177,116	12,158
PAYE and NIC		163,219	205,034
VAT		13,748	178,406
Other creditors		2	504,462
Corporation tax		79,899	172,705
Accrued expenses		2,990	2,990
		676,273	1,754,431

9	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary Shares of £1 each	1,000	1,000	1,000	1,000

Page 7

Inline Logistics Limited

Notes to the Financial Statements for the Year Ended 31 March 2019

10	Related party transactions

Transactions with directors The following advances and credits to a director subsisted during the years ended 31 March 2019 and 31 March 2018:

Transactions with directors

2019	At 1 April 2018 £	Advances to directors £	Repayments by director £	At 31 March 2019 £
	(12,158)	980,092	(1,145,050)	(177,116)

2018	At 1 April 2017 £	Advances to directors £	Repayments by director £	At 31 March 2018 £
	(12,158)	167,500	(167,500)	(12,158)

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