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

REGISTERED NUMBER: 05255682 (England and Wales)

SITE LOGISTICS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D T Healy

SECRETARY:

M J P Healy

REGISTERED OFFICE:

Station House

Connaught Road

Brookwood

Woking

Surrey

GU24 0ER

REGISTERED NUMBER:

05255682 (England and Wales)

ACCOUNTANTS:

HPCA Limited

Chartered Accountants

Station House

Connaught Road

Brookwood

Woking

Surrey

GU24 0ER

FIXED ASSETS

Tangible assets

4

3,601

14,308

CURRENT ASSETS

Debtors

5

649,993

749,477

Cash at bank and in hand

8,925

16

658,918

749,493

CREDITORS

Amounts falling due within one year

6

(117,249

)

(269,040

)

NET CURRENT ASSETS

541,669

480,453

TOTAL ASSETS LESS CURRENT LIABILITIES

545,270

494,761

CREDITORS

Amounts falling due after more than one year

7

(12,882

)

(15,823

)

NET ASSETS

532,388

478,938

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

532,288

478,838

SHAREHOLDERS' FUNDS

532,388

478,938

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2019 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 30 October 2020 and were signed by:

D T Healy - Director

1.	STATUTORY INFORMATION

Site 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 comprises revenue recognised by the company in respect of services supplied, exclusive of value added tax and trade discounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles

-

25% on cost

Computer equipment

-

20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 5 (2018 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 November 2018

and 31 October 2019

57,975

500

58,475

DEPRECIATION

At 1 November 2018

43,667

500

44,167

Charge for year

10,707

-

10,707

At 31 October 2019

54,374

500

54,874

NET BOOK VALUE

At 31 October 2019

3,601

-

3,601

At 31 October 2018

14,308

-

14,308

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 November 2018

and 31 October 2019

32,155

DEPRECIATION

At 1 November 2018

17,847

Charge for year

10,707

At 31 October 2019

28,554

NET BOOK VALUE

At 31 October 2019

3,601

At 31 October 2018

14,308

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

360,651

333,649

Sales provision

39,060

-

Other debtors

559

-

Due from Techjoint Ltd

2,870

124,047

Factoring account

226,805

245,549

Prepayments and accrued income

20,048

46,232

649,993

749,477

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

-

11,209

Hire purchase contracts

2,940

2,747

Trade creditors

3,337

78,336

Due to Technik Recruitment

8,000

107,500

Tax

19,238

6,890

Social security and other taxes

2,698

4,093

Pensions

685

277

VAT

35,996

18,722

Other creditors

10

393

Accrued expenses

44,345

38,873

117,249

269,040

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts

12,882

15,823

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

50

Ordinary

£1

100

100

50

Ordinary 'A'

£1

-

-

100

100

9.

RESERVES

Retained

earnings

£

At 1 November 2018

478,838

Profit for the year

74,450

Dividends

(21,000

)

At 31 October 2019

532,288

10.	RELATED PARTY DISCLOSURES

The director and controlling party of Techjoint Ltd holds a participating interest in Site Logistic Ltd.

During the year, Techjoint Ltd repaid £121,177 to Site Logistic Ltd. At the year end a balance of £2,870 (2018:£124,047) was owed to Site Logistic Ltd. The loan is interest free and payable on demand.