Barsan Global Logistics Limited - Accounts to registrar (filleted) - small 18.2
Barsan Global Logistics Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements |
| for the year ended |
| 31 December 2020 |
| for |
| Barsan Global Logistics Limited |
| Barsan Global Logistics Limited (Registered number: 04164624) |
| Contents of the Financial Statements |
| for the year ended 31 December 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Barsan Global Logistics Limited |
| Company Information |
| for the year ended 31 December 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants and Statutory Auditor |
| Strelley Hall |
| Main Street |
| Strelley |
| Nottingham |
| NG8 6PE |
| ACCOUNTANTS: |
| Chartered Accountants |
| 25 Station Road |
| Desford |
| Leicestershire |
| LE9 9FN |
| Barsan Global Logistics Limited (Registered number: 04164624) |
| Balance Sheet |
| 31 December 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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 and authorised for issue on |
| Barsan Global Logistics Limited (Registered number: 04164624) |
| Notes to the Financial Statements |
| for the year ended 31 December 2020 |
| 1. | STATUTORY INFORMATION |
| Barsan Global Logistics Limited is a |
| 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" (effective September 2015) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
| Going Concern |
| The accounts have been prepared on the going concern basis due to the fact that the company has the continued support of the group which has adequate resources to continue in operational existence for the foreseeable future. The directors have been given assurance that this support will continue for the foreseeable future. |
| Turnover |
| Turnover represents the value of goods and services provided to customers during the year, exclusive of VAT. |
| Revenue receivable in respect of storage income is recognised in the period to which the storage relates. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Freehold property | - | 2% on cost |
| Fixtures and fittings | - | 10% - 33% on cost |
| Tangible fixed assets are initially measured at cost at the date of purchase. |
| 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. |
| 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. |
| Barsan Global Logistics Limited (Registered number: 04164624) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 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 or the lease term, whichever is the shorter. The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. |
| 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. |
| Supply chain financing |
| The company has a supply chain financing agreement with one of its customers. The payments made against the trade debts through this agreement are not subject to recourse from the bank concerned and so the corresponding trade debtor is fully derecognised upon payment by the bank. The amounts due in respect of any unpaid amounts are included within trade debtors at the relevant discounted amount and the discount element debited to the income statement. The management and collection of other trade debtors remains with the company. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and |
| Land and | fittings |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2020 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 December 2020 |
| DEPRECIATION |
| At 1 January 2020 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 December 2020 |
| NET BOOK VALUE |
| At 31 December 2020 |
| At 31 December 2019 |
| Included within land and buildings is capitalised interest of £nil (2019: £25,468). |
| Also included within land and buildings is £nil (2019: £838,020) of land which is not depreciated. |
| Barsan Global Logistics Limited (Registered number: 04164624) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2020 |
| 5. | DEBTORS |
| 2020 | 2019 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Amounts owed by group undertakings |
| VAT |
| Prepayments and accrued income |
| Amounts falling due after more than one year: |
| Trade debtors |
| Aggregate amounts |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 8) |
| Trade creditors |
| Amounts owed to group undertakings |
| Tax |
| Social security and other taxes |
| Accruals and deferred income |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans - 1-5 years |
| Hire purchase contracts (see note 8) |
| During 2020 the company repaid the bank loan with the proceeds from the sale of the Freehold property. |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2020 | 2019 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Barsan Global Logistics Limited (Registered number: 04164624) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2020 |
| 8. | LEASING AGREEMENTS - continued |
| Non-cancellable operating | leases |
| 2020 | 2019 |
| £ | £ |
| Within one year |
| Between one and five years |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| Hire purchase contracts | 99,904 | 125,892 |
| The bank loans are secured by a legal charge over the company's freehold property and by a debenture over all assets of the company. |
| Hire purchase liabilities are secured by a legal charge over the assets financed. |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2019 |
| value: | £ | £ |
| Ordinary share capital | £1 | 2,660,000 | 2,660,000 |
| 11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 12. | CONSOLIDATION |
| The parent company of the smallest group that draws up consolidated financial statements which include the results for Barsan Global Logistics Limited is Barsan Global Lojistik A.S; its registered office address is: |
| Hastane Mah. Org. Nurettin Baransel Cad |
| No 48 Hadimkoy |
| Arnavutkoy |
| Istanbul |