Inline Logistics Limited - Period Ending 2018-03-31

Registration number: 02670632

Inline Logistics Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2018

Inline Logistics Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 8

Inline Logistics Limited

Company Information

Directors	Miss Kelly Smith Mrs Kim Tracey Vickery Mr Graham Harold Smith

Company secretary

Mrs Kim Tracey Vickery

Registered office

Winghams House 9 Freeport Office Village Century Drive Braintree Essex CM77 8YG

Accountants

Anthony Russel Limited Winghams House 9 Freeport Office Village Century Drive Braintree Essex CM77 8YG

Page 1

Inline Logistics Limited

(Registration number: 02670632)
Balance Sheet as at 31 March 2018

	Note	2018  £	2017  £
Fixed assets
Tangible assets	4	9,839	904,439
Investment property	5	849,903	597,812
		859,742	1,502,251
Current assets
Debtors	7	720,243	326,161
Cash at bank and in hand		1,692,832	294,848
		2,413,075	621,009
Creditors: Amounts falling due within one year	8	(1,754,431)	(602,843)
Net current assets		658,644	18,166
Total assets less current liabilities		1,518,386	1,520,417
Creditors: Amounts falling due after more than one year	8	-	(485,515)
Provisions for liabilities		(1,870)	(1,681)
Net assets		1,516,516	1,033,221
Capital and reserves
Called up share capital		1,000	1,000
Revaluation reserve		-	181,083
Profit and loss account		1,515,516	851,138
Total equity		1,516,516	1,033,221

For the financial year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements 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.

The notes on pages 4 to 8 form an integral part of these financial statements.

Page 2

Inline Logistics Limited

(Registration number: 02670632)
Balance Sheet as at 31 March 2018

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 21 May 2018 and signed on its behalf by:
 

.........................................

Mr Graham Harold Smith
Director

The notes on pages 4 to 8 form an integral part of these financial statements.

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Inline Logistics Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Winghams House
9 Freeport Office Village
Century Drive
Braintree
Essex
CM77 8YG
England

The principal place of business is:
East Bank
High Street
Guilsborough
Northamptonshire
NN6 8PY
England

These financial statements were authorised for issue by the Board on 21 May 2018.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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Inline Logistics Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% reducing balance
Fixtures and fittings	15% on cost
Office equipment	25% on cost

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. Changes in fair value are recognised in profit or loss.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2017 - 7).

4	Tangible assets

	Land and buildings £	Furniture, fittings and office equipment  £	Other tangible assets £	Total £
Cost or valuation
At 1 April 2017	896,036	42,210	137	938,383
Additions	-	6,126	-	6,126
Disposals	(896,036)	-	-	(896,036)
At 31 March 2018	-	48,336	137	48,473
Depreciation
At 1 April 2017	-	33,835	109	33,944
Charge for the year	-	4,685	5	4,690
At 31 March 2018	-	38,520	114	38,634
Carrying amount
At 31 March 2018	-	9,816	23	9,839
At 31 March 2017	896,036	8,375	28	904,439

Included within the net book value of land and buildings above is £Nil (2017 - £896,036) in respect of freehold land and buildings.
 

Page 5

Inline Logistics Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

5	Investment properties

	2018 £
At 1 April	597,812
Additions	667,091
Disposals	(415,000)
At 31 March	849,903

6	Investments

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2018	2017

Subsidiary undertakings
Consult Inline Limited		Ordinary	100%	100%

The principal activity of Consult Inline Limited is dormant.

The profit for the financial period of Consult Inline Limited was £- and the aggregate amount of capital and reserves at the end of the period was £2.

7

Debtors

	2018  £	2017  £
Trade debtors	437,137	49,747
Other debtors	278,871	268,000
Prepayments	4,235	8,414
Total current trade and other debtors	720,243	326,161

Page 6

Inline Logistics Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

8

Creditors

Creditors: amounts falling due within one year

	Note	2018  £	2017  £
Due within one year
Bank loans and overdrafts		-	38,140
Trade creditors		678,676	3,957
Director current account	10	12,158	12,158
PAYE and NIC		205,034	84,112
VAT		178,406	24,349
Other creditors		504,462	400,002
Corporation tax		172,705	37,625
Accrued expenses		2,990	2,500
		1,754,431	602,843
Due after one year
Loans and borrowings		-	485,515

Creditors: amounts falling due after more than one year

	Note	2018 £	2017 £
Due after one year
Loans and borrowings		-	485,515

9	Share capital

Allotted, called up and fully paid shares

	2018		2017
	No.	£	No.	£
Ordinary Shares of £1 each	1,000	1,000	1,000	1,000

Page 7

Inline Logistics Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

10	Related party transactions

Transactions with directors The following advances and credits to a director subsisted during the years ended 31 March 2018 and 31 March 2017:

Transactions with directors

2018	At 1 April 2017 £	Advances to directors £	Repayments by director £	At 31 March 2018 £
	(12,158)	167,500	(167,500)	(12,158)

2017	At 1 April 2016 £	Advances to directors £	Repayments by director £	At 31 March 2017 £
	(14,082)	97,824	(95,900)	(12,158)

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