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CAPITAL LOGISTICS LIMITED
REGISTERED NUMBER: 05792398
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ABBREVIATED BALANCE SHEET
AS AT 31 AUGUST 2016
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CREDITORS: amounts falling due within one year
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TOTAL ASSETS LESS CURRENT LIABILITIES
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CREDITORS: amounts falling due after more than one year
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PROVISIONS FOR LIABILITIES
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Page 1
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CAPITAL LOGISTICS LIMITED
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ABBREVIATED BALANCE SHEET (continued)
AS AT 31 AUGUST 2016
The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 August 2016 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 9 May 2017.
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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CAPITAL LOGISTICS LIMITED
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NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2016
1.ACCOUNTING POLICIES
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Basis of preparation of financial statements
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
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Tangible fixed assets and depreciation
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Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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Leasing and hire purchase
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Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase 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 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.
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Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
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A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.
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Page 3
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CAPITAL LOGISTICS LIMITED
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NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2016
1.ACCOUNTING POLICIES (CONTINUED)
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Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Profit and loss account.
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2.TANGIBLE FIXED ASSETS
3.SHARE CAPITAL
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Allotted, called up and fully paid
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300 Ordinary shares of £1 each
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Page 4
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CAPITAL LOGISTICS LIMITED
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NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2016
4.DIRECTORS' BENEFITS: ADVANCES, CREDIT AND GUARANTEES
Included in other debtors due within one year is a loan to the director, Mr L A Power amounting to £3,674 (2015 - £NIL). Included in other creditors due within one year is a loan from the directors, Mr P E England amounting to £NIL [2015 - £(398)], Mr D J Smyth amounting to £NIL [2015 - £(398)].
During the year advances of £NIL (2015 - £3,602) were made to Mr P J England, £NIL (2015 - £3,602) to Mr D J Smyth and £3,674 to Mr L A Power (2015 - £NIL). Credits amounting to £NIL (2015 - £4,000) were received from Mr P J England and £NIL (2015 - £4,000) from Mr D J Smyth.
5.RELATED PARTY TRANSACTIONS
The directors, Mr P J England and Mr D J Smyth are also directors and shareholders in Diamond Couriers Limited, a UK registered company.
During the year Capital Logistics Limited made net loans to Diamond Couriers Limited amounting to £140,102. At the year end an amount of £128,343 (2015 - £69,478) included in other debtors was due from Diamond Couriers Limited.
During the year Capital Logistics Limited also made sales to Diamond Couriers Limited amounting to £22,607, purchases from Diamond Couriers Limited of £103,844 and paid Diamond Couriers a management fee of £NIL.
 
The directors, Mr P J England and Mr D J Smyth are also directors and shareholders in Medical Moves Limited, a UK registered company.
During the year Capital Logistics Limited received a loan from Medical Moves Limited amounting to £NIL (2015 - £54,053). At the year end an amount of £NIL [(2015 - £(56,393)] included in other creditor was due to Medical Moves Limited. During the year Medical Moves Limited paid Capital Logistics Limited a management fee of £30,000.
Page 5
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