L.I.T. International Forwarding Limited - Accounts

L.I.T. International Forwarding Limited - Accounts

L.I.T. INTERNATIONAL FORWARDING LIMITED - Company Information

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Registered Number: 06142276
England and Wales

 

 

 

L.I.T. INTERNATIONAL FORWARDING LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 January 2021

End date: 31 December 2021

L.I.T. International Forwarding Limited
Contents Page
For the year ended 31 December 2021
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of L.I.T. International Forwarding Limited for the year ended 31 December 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of L.I.T. International Forwarding Limited for the year ended 31 December 2021 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of L.I.T. International Forwarding Limited , as a body, in accordance with the terms of our engagement letter dated 17 May 2022. Our work has been undertaken solely to prepare for your approval the accounts of L.I.T. International Forwarding Limited and state those matters that we have agreed to state to the Board of Directors of L.I.T. International Forwarding Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than L.I.T. International Forwarding Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that L.I.T. International Forwarding Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of L.I.T. International Forwarding Limited . You consider that L.I.T. International Forwarding Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of L.I.T. International Forwarding Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 December 2021



....................................................
Wood & Disney Limited
Lodge Park
Lodge Lane
Langham
Colchester
CO4 5NE
17 May 2022
1
 
 		 Notes
 		 2021
£		   2020
£
Fixed assets      
Tangible fixed assets 212    0 
212    0 
Current assets      
Debtors 150,031    28,572 
Cash at bank and in hand 26,622    71,780 
176,653    100,352 
Creditors: amount falling due within one year (39,578)   (29,517)
Net current assets 137,075    70,835 
 
Total assets less current liabilities 137,287    70,835 
Net assets 137,287    70,835 
 

Capital and reserves 		     
Called up share capital 25,000    25,000 
Profit and loss account 112,287    45,835 
Shareholder's funds 137,287    70,835 
 


For the year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 17 May 2022 and were signed by:


--------------------------------
S W Breuer
Director
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General Information
L.I.T. International Forwarding Limited is a private company, limited by shares, registered in England and Wales, registration number 06142276, registration address 2 Blue Barns, Old Ipswich Road, Ardleigh, Essex, Colchester, CO7 7FX

The presentation currency is £ sterling.
1.

Accounting policies

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
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 taxation
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer Equipment 20% Straight Line
Fixtures and Fittings 25% Straight Line
2.

Average number of employees


Average number of employees during the year was 4 (2020 : 4).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Fixtures and Fittings   Total
  £   £   £
At 01 January 2021 3,019    -    3,019 
Additions 123    121    244 
Disposals -    -    - 
At 31 December 2021 3,142    121    3,263 
Depreciation
At 01 January 2021 3,019    -    3,019 
Charge for year 14    18    32 
On disposals -    -    - 
At 31 December 2021 3,033    18    3,051 
Net book values
Closing balance as at 31 December 2021 109    103    212 
Opening balance as at 01 January 2021 -    -    - 


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