Sunbury Warehousing & Logistics Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09113027 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2021

FOR

SUNBURY WAREHOUSING & LOGISTICS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Glenie

J W White

M N De Brett

REGISTERED OFFICE:

25 Grosvenor Road

Wrexham

LL11 1BT

REGISTERED NUMBER:

09113027 (England and Wales)

ACCOUNTANTS:

M. D. Coxey and Co. Limited

Chartered Accountants

25 Grosvenor Road

Wrexham

LL11 1BT

BANKERS:

Lloyds Bank plc

65-67 Fore Street

Kingsbridge

Devon

TQ7 1PN

FIXED ASSETS

Tangible assets

4

45,742

54,411

CURRENT ASSETS

Stocks

5

135,815

77,286

Debtors

6

1,017,354

553,646

Cash at bank and in hand

453,411

478,040

1,606,580

1,108,972

CREDITORS

Amounts falling due within one year

7

813,736

423,164

NET CURRENT ASSETS

792,844

685,808

TOTAL ASSETS LESS CURRENT LIABILITIES

838,586

740,219

PROVISIONS FOR LIABILITIES

8

8,285

9,274

NET ASSETS

830,301

730,945

CAPITAL AND RESERVES

Called up share capital

9

200,000

200,000

Retained earnings

630,301

530,945

SHAREHOLDERS' FUNDS

830,301

730,945

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 25th May 2022 and were signed on its behalf by:

S Glenie - Director

1.	STATUTORY INFORMATION

Sunbury Warehousing & 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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. The company's functional and presentational currencies are pounds sterling.

Significant judgements and estimates

In the application of the Company’s accounting policies, management is required to make judgements, estimates and assumptions about carrying values of assets and liabilities that are not readily available from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The key judgements and sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:

Estimated useful lives and residual values of fixed assets

Depreciation of tangible and intangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives used by other companies operating in the sector and actual asset lives and residual values, as evidenced by disposals during current and prior accounting periods.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Sales of goods

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when the risks and rewards of ownership have passed to the customer. This typically happens when goods are delivered and legal title has passed.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

33% on cost

Plant and machinery

-

33% on cost

Fixtures and fittings

-

33% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors and trade creditors.

Trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2020 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1st January 2021

16,281

45,886

12,785

Additions

-

10,550

398

At 31st December 2021

16,281

56,436

13,183

DEPRECIATION

At 1st January 2021

10,679

43,522

9,364

Charge for year

3,465

2,994

1,785

At 31st December 2021

14,144

46,516

11,149

NET BOOK VALUE

At 31st December 2021

2,137

9,920

2,034

At 31st December 2020

5,602

2,364

3,421

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1st January 2021

28,000

33,500

136,452

Additions

-

2,339

13,287

At 31st December 2021

28,000

35,839

149,739

DEPRECIATION

At 1st January 2021

933

17,543

82,041

Charge for year

5,600

8,112

21,956

At 31st December 2021

6,533

25,655

103,997

NET BOOK VALUE

At 31st December 2021

21,467

10,184

45,742

At 31st December 2020

27,067

15,957

54,411

5.

STOCKS

31.12.21

31.12.20

£

£

Work-in-progress

135,815

77,286

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

836,051

434,926

Amounts owed by group undertakings

107,154

55,932

Other debtors

6,559

10,394

VAT

25,969

24,390

Prepayments

41,621

28,004

1,017,354

553,646

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade creditors

518,153

267,155

Trade creditor accruals

89,506

80,600

Amounts owed to group undertakings

52,463

473

Tax

68,858

25,495

Social security and other taxes

22,981

13,070

Other creditors

5,304

30,864

Directors' current accounts

46,000

-

Accrued expenses

10,471

5,507

813,736

423,164

8.	PROVISIONS FOR LIABILITIES

31.12.21

31.12.20

£

£

Deferred tax

Accelerated capital allowances

8,285

9,274

Deferred

tax

£

Balance at 1st January 2021

9,274

Movement in the year due to:

changes in tax allowances

(989

)

changes in tax rates

Balance at 31st December 2021

8,285

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.21

31.12.20

value:

£

£

51,000

A Ordinary £2

£2

102,000

102,000

49,000

B Ordinary £2

£2

98,000

98,000

200,000

200,000

10.	CAPITAL COMMITMENTS

31.12.21

31.12.20

£

£

Contracted but not provided for in the

financial statements

-

-

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £80,500 (2020 - £13,800) were paid to the directors .

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Alston Garrard & Co Limited.

The ultimate controlling party is S Glenie.