Proserve Logistics Limited - Abbreviated accounts 16.3
Proserve Logistics Limited - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 31 July 2016 |
| for |
| Proserve Logistics Limited |
| Proserve Logistics Limited (Registered number: 08176587) |
| Contents of the Abbreviated Accounts |
| for the year ended 31 July 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| Proserve Logistics Limited |
| Company Information |
| for the year ended 31 July 2016 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Proserve Logistics Limited (Registered number: 08176587) |
| Abbreviated Balance Sheet |
| 31 July 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 4 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
4 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| Proserve Logistics Limited (Registered number: 08176587) |
| Abbreviated Balance Sheet - continued |
| 31 July 2016 |
| The financial statements were approved by the Board of Directors on |
| Proserve Logistics Limited (Registered number: 08176587) |
| Notes to the Abbreviated Accounts |
| for the year ended 31 July 2016 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in accordance with the |
| Financial Reporting Standard for Smaller Entities (effective January 2015). |
| Exemption from preparing a cash flow statement |
| Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a |
| small company. |
| Turnover |
| Turnover represents net invoiced sales of goods and services, excluding value added tax. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of a business has now been fully amortised. |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| 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 the profit and loss account over the relevant period. The |
| capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to the profit and loss account 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 the profit and loss account in the period to which they relate. |
| Invoice discounting |
| Amounts due in respect of invoice discounting are separately disclosed as current liabilities. The company can |
| use these facilities to draw down a percentage of the value of certain sales invoices. The management and |
| collection of trade receivables remains with the company. |
| Proserve Logistics Limited (Registered number: 08176587) |
| Notes to the Abbreviated Accounts - continued |
| for the year ended 31 July 2016 |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 August 2015 |
| and 31 July 2016 |
| AMORTISATION |
| At 1 August 2015 |
| and 31 July 2016 |
| NET BOOK VALUE |
| At 31 July 2016 |
| At 31 July 2015 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 August 2015 |
| Additions |
| Disposals | ( |
) |
| At 31 July 2016 |
| DEPRECIATION |
| At 1 August 2015 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 July 2016 |
| NET BOOK VALUE |
| At 31 July 2016 |
| At 31 July 2015 |
| 4. | CREDITORS |
| Creditors include an amount of £ |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary 'A' Shares | £1 |
| Ordinary 'B' Shares | £1 |
| 200 | 200 |
| Proserve Logistics Limited (Registered number: 08176587) |
| Notes to the Abbreviated Accounts - continued |
| for the year ended 31 July 2016 |
| 6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 July 2016 and 31 July 2015: |
| 2016 | 2015 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Balance outstanding at end of year | ( |
) |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Balance outstanding at end of year | ( |
) |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Balance outstanding at end of year | ( |
) |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Balance outstanding at end of year | ( |
) |
| The loans are repayable on demand. Interest is charged at 3.75% p.a. on outstanding overdrawn balances. All |
| loan accounts were in credit at the year end. |
| 7. | RELATED PARTY DISCLOSURES |
| Proserve Logistics Limited (Registered number: 08176587) |
| Notes to the Abbreviated Accounts - continued |
| for the year ended 31 July 2016 |
| 7. | RELATED PARTY DISCLOSURES - continued |
| During the year the company purchased goods and services from Proserve Industrial Limited, a company |
| controlled by the directors, to the value of £33,600 (2015:£nil). At the Balance Sheet date the amount owed to |
| Proserve Industrial Limited amounted to £25,001 (2015:£22,895 due from Proserve Industrial Limited). A rent |
| recharge of £20,000 was made during the year between the companies. |
| Also during the year a further amount of £172,000 (2015:£50,000) was loaned to Ash and Abbey Limited. The |
| loan is interest free and repayable on demand. The directors in Ash and Abbey Limited are also the directors in |
| Proserve Logistics Limited. An amount of £125,777 was owed to the company at the year end. |
| At the Balance Sheet date there was an amount owed to BNT Supplies Ltd totalling £22,941 (2015 £29,819). Mr |
| J Kelsall who is a shareholder in Proserve Logistics Limited controls this company . The company purchased |
| goods and services from BNT Supplies Ltd during the year to the value of £17,600. |
| At the Balance Sheet date there was an amount owed to the company from Proserve BRC Limited totalling |
| £302,000 (2015:£nil). The shareholders controlling this company are also the shareholders of Proserve Logistics |
| Limited. The loan is interest free and repayable on demand. |
| The company currently operates from two premises, one of the premises is owned by Ash and Abbey Limited |
| and during the year rent of £87,338 was charged to the company. The other is owned by J and M Properties, a |
| partnership involving J Green and M Huxley, and during the year rent of £36,500 was charged. At the Balance |
| Sheet date there was an amount owed to the company by J and M Properties totalling £55,000 (2015 £nil). |
| 8. | ULTIMATE CONTROLLING PARTY |