Scrivin Logistics Limited


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Registered number: 07647990
Scrivin Logistics Limited
Financial Statements
For The Year Ended 31 March 2024
William Price & Co
Chartered Accountants
Westbury Court Church Road
Westbury On Trym
Bristol
BS9 3EF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07647990
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 848,578 473,229
848,578 473,229
CURRENT ASSETS
Debtors 5 183,952 149,115
Cash at bank and in hand 20,793 56,508
204,745 205,623
Creditors: Amounts Falling Due Within One Year 6 (303,315 ) (219,494 )
NET CURRENT ASSETS (LIABILITIES) (98,570 ) (13,871 )
TOTAL ASSETS LESS CURRENT LIABILITIES 750,008 459,358
Creditors: Amounts Falling Due After More Than One Year 7 (579,387 ) (292,363 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (94,957 ) (82,753 )
NET ASSETS 75,664 84,242
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 75,564 84,142
SHAREHOLDERS' FUNDS 75,664 84,242
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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
Mr S P Scrivin
Director
30 May 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Scrivin Logistics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07647990 . The registered office is 94 Clayfield, Yate, Bristol, BS37 7HU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Leasehold 4 years straight line
Motor Vehicles 3-7 years straight line
Computer Equipment 5yrs straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under 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.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 10)
10 10
4. Tangible Assets
Land & Property
Leasehold Motor Vehicles Computer Equipment Total
£ £ £ £
Cost or Valuation
As at 1 April 2023 9,500 695,420 18,784 723,704
Additions - 656,607 2,230 658,837
Disposals - (275,750 ) - (275,750 )
Revaluation (9,500) - - (9,500 )
As at 31 March 2024 - 1,076,277 21,014 1,097,291
Depreciation
As at 1 April 2023 4,750 228,547 17,178 250,475
...CONTINUED
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Provided during the period - 140,211 1,095 141,306
Disposals - (138,318 ) - (138,318 )
On revaluations (4,750 ) - - (4,750 )
As at 31 March 2024 - 230,440 18,273 248,713
Net Book Value
As at 31 March 2024 - 845,837 2,741 848,578
As at 1 April 2023 4,750 466,873 1,606 473,229
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 163,973 141,309
Prepayments and accrued income 2,569 3,906
Other debtors - 800
VAT 17,410 3,100
183,952 149,115
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 190,422 124,404
Trade creditors 81,244 54,264
Bank loans and overdrafts 10,173 10,173
Corporation tax 14 14
Other taxes and social security 4,673 5,404
Other creditors 1,492 3,669
Accruals and deferred income 13,461 17,294
Directors' loan accounts 1,836 4,272
303,315 219,494
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 565,295 268,369
Bank loans 14,092 23,994
579,387 292,363
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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