LIFT - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05673182 (England and Wales)

LICHFIELD INTERNATIONAL FREIGHT

TERMINAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

Report of the Accountants

7

DIRECTORS:

M Jackson

R Webster

SECRETARY:

M Jackson

REGISTERED OFFICE:

Transport House, Units 1 2 & 3 Althea

Wellington Park

Wellington Road

Burton on Trent

Staffordshire

DE14 2TG

REGISTERED NUMBER:

05673182 (England and Wales)

ACCOUNTANTS:

Four Oaks Taxation & Accounting Services Limited

Suite D, Astor House

282 Lichfield Road

Four Oaks

Sutton Coldfield

West Midlands

B74 2UG

FIXED ASSETS

Tangible assets

4

55,405

113,164

CURRENT ASSETS

Debtors

5

127,973

69,824

Cash at bank

3,571

55,837

131,544

125,661

CREDITORS

Amounts falling due within one year

6

53,115

83,534

NET CURRENT ASSETS

78,429

42,127

TOTAL ASSETS LESS CURRENT LIABILITIES

133,834

155,291

PROVISIONS FOR LIABILITIES

9,846

21,704

NET ASSETS

123,988

133,587

CAPITAL AND RESERVES

Called up share capital

100,000

100,000

Retained earnings

23,988

33,587

SHAREHOLDERS' FUNDS

123,988

133,587

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

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

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.

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 Board of Directors on 31 October 2018 and were signed on its behalf by:

R Webster - Director

1.	STATUTORY INFORMATION

Lichfield International Freight Terminal 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.

Plant and machinery

-

33% on cost, 20% on cost and 15% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2017

and 31 March 2018

307,287

137,077

17,171

461,535

DEPRECIATION

At 1 April 2017

194,123

137,077

17,171

348,371

Charge for year

57,759

-

-

57,759

At 31 March 2018

251,882

137,077

17,171

406,130

NET BOOK VALUE

At 31 March 2018

55,405

-

-

55,405

At 31 March 2017

113,164

-

-

113,164

5.

DEBTORS

2018

2017

£

£

Amounts falling due within one year:

Trade debtors

-

578

Amounts owed by group undertakings

127,973

-

Other debtors

-

9,246

127,973

9,824

Amounts falling due after more than one year:

Amounts owed by group undertakings

-

60,000

Aggregate amounts

127,973

69,824

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Hire purchase contracts

2,409

36,864

Trade creditors

-

2,525

Taxation and social security

10,706

2,346

Other creditors

40,000

41,799

53,115

83,534

7.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Other loan

40,000

40,000

The other loan is secured by way of a debenture over the company's assets excluding the trade debtors.

The factoring agents and bank have secured their lending under the factoring agreement by way of a debenture

over all the assets of the company. This debenture ranks above that of the other loan.

8.	ULTIMATE CONTROLLING PARTY

The Company is fully owned by the parent company, H Young Logistics Limited.

H Young Logistics Limited is controlled by the directors, Messrs R Webster and M Jackson.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2018 set out on pages two to four and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Four Oaks Taxation & Accounting Services Limited

Suite D, Astor House

282 Lichfield Road

Four Oaks

Sutton Coldfield

West Midlands

B74 2UG

31 October 2018