PRODUCT_LOGISTICS_LIMITED - Accounts

PRODUCT LOGISTICS LTD - Company Information

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Company Registration No. 07171919 (England and Wales)

PRODUCT LOGISTICS LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2013

PRODUCT LOGISTICS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

PRODUCT LOGISTICS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2013

- 1 -

2013

2012

Notes

Fixed assets

Tangible assets

335

1,139

Current assets

Debtors

112,531

78,293

Cash at bank and in hand

20,286

20,761

132,817

99,054

Creditors: amounts falling due within one year

(152,667)

(101,175)

Net current liabilities

(19,850)

(2,121)

Total assets less current liabilities

(19,515)

(982)

(19,515)

(982)

Capital and reserves

Called up share capital

Profit and loss account

(19,516)

(983)

Shareholders' funds

(19,515)

(982)

For the financial year ended 31 December 2013 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 26 September 2014

J Snelling

Director

Company Registration No. 07171919

PRODUCT LOGISTICS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2013

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The company meets its day to day working capital requirements through the support of the director. This support has been confirmed for a period of at least 12 months from the date of approval of the financial statements. On this basis, the director consider it appropriate to prepare the financial statements on the going concern basis.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for freight forwarding and handling services net of VAT. Revenue is recognised when the service has been provided and the right to consideration has been earned.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

33% straight line

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

PRODUCT LOGISTICS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2013

- 3 -

Fixed assets

Tangible assets

Cost

At 1 January 2013

4,831

Additions

168

At 31 December 2013

4,999

Depreciation

At 1 January 2013

3,692

Charge for the year

972

At 31 December 2013

4,664

Net book value

At 31 December 2013

335

At 31 December 2012

1,139

Share capital

2013

2012

Allotted, called up and fully paid

1 ordinary share of £1 each