H S Logistics Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03046605 (England and Wales)

Financial Statements for the Year Ended 31 January 2018

for

H S Logistics Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs P E Hilton

REGISTERED OFFICE:

Hilton House

356b Drummond Road

Skegness

Lincolnshire

PE25 3BB

REGISTERED NUMBER:

03046605 (England and Wales)

FIXED ASSETS

Tangible assets

4

147,074

203,278

CURRENT ASSETS

Debtors

5

219,710

329,438

Cash at bank and in hand

23,389

56,420

243,099

385,858

CREDITORS

Amounts falling due within one year

6

323,028

348,988

NET CURRENT (LIABILITIES)/ASSETS

(79,929

)

36,870

TOTAL ASSETS LESS CURRENT LIABILITIES

67,145

240,148

CREDITORS

Amounts falling due after more than one year

7

(66,359

)

(133,389

)

PROVISIONS FOR LIABILITIES

(28,830

)

(24,598

)

NET (LIABILITIES)/ASSETS

(28,044

)

82,161

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

(28,244

)

81,961

SHAREHOLDERS' FUNDS

(28,044

)

82,161

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 29 September 2018 and were signed by:

Mrs P E Hilton - Director

1.	STATUTORY INFORMATION

H S Logistics Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2017 - 22 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2017

477,914

Additions

1,400

Disposals

(10,000

)

At 31 January 2018

469,314

DEPRECIATION

At 1 February 2017

274,636

Charge for year

48,854

Eliminated on disposal

(1,250

)

At 31 January 2018

322,240

NET BOOK VALUE

At 31 January 2018

147,074

At 31 January 2017

203,278

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 February 2017

and 31 January 2018

164,463

DEPRECIATION

At 1 February 2017

19,583

Charge for year

36,220

At 31 January 2018

55,803

NET BOOK VALUE

At 31 January 2018

108,660

At 31 January 2017

144,880

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.18

31.1.17

£

£

Trade debtors

186,977

268,106

Other debtors

32,733

61,332

219,710

329,438

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.18

31.1.17

£

£

Hire purchase contracts

40,907

43,978

Trade creditors

214,612

228,986

Taxation and social security

61,937

66,766

Other creditors

5,572

9,258

323,028

348,988

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.18

31.1.17

£

£

Hire purchase contracts

66,359

133,389

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.18

31.1.17

£

£

Hire purchase contracts

107,266

177,367

The bank overdraft is secured by a charge over the current and future assets of the company.

Hire purchase contracts are secured over the the assets to which they relate.

The factoring account is secured by a fixed and floating charge over the future and present assets of the

company.

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the director introduced funds to and withdrew funds from the company by way of a director's

current account. At the year end the company owed the director £891 and this is included in creditors (2016 :

£28,168 debtor)

10.	ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by the director, Mrs P E Hilton and close family, by virtue of their 100%

shareholding in the issued share capital of the company.