SJH Logistics Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06543807 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2017

for

SJH Logistics Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S J Hutchingson

Mrs J Hutchingson

SECRETARY:

Mrs J Hutchingson

REGISTERED OFFICE:

Eldo House

Kempson Way

Bury St Edmunds

Suffolk

IP32 7AR

BUSINESS ADDRESS:

Forge Corner

The Street

Troston

Bury St Edmunds

Suffolk

IP31 1EW

REGISTERED NUMBER:

06543807 (England and Wales)

ACCOUNTANTS:

Knights Lowe

Chartered Accountants

Eldo House, Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

258,575

211,939

258,575

211,939

CURRENT ASSETS

Debtors

6

305,200

306,174

Cash at bank

50,924

68,521

356,124

374,695

CREDITORS

Amounts falling due within one year

7

217,374

203,584

NET CURRENT ASSETS

138,750

171,111

TOTAL ASSETS LESS CURRENT LIABILITIES

397,325

383,050

CREDITORS

Amounts falling due after more than one year

8

(96,035

)

(90,473

)

PROVISIONS FOR LIABILITIES

11

(38,632

)

(31,359

)

NET ASSETS

262,658

261,218

CAPITAL AND RESERVES

Called up share capital

12

100

100

Retained earnings

262,558

261,118

SHAREHOLDERS' FUNDS

262,658

261,218

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 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 29 January 2018 and were signed on its behalf by:

S J Hutchingson - Director

Mrs J Hutchingson - Director

1.	STATUTORY INFORMATION

SJH 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.

These financial statements are the first financial statements that comply with FRS 102 Section 1A small entities.

The date of transition is 1 November 2015. The transition has resulted in an alignment of accounting policies to

those required in the adoption of FRS 102 and FRS 102 section 1A. Any impact is explained in the notes to

these financial statements.

Turnover

Turnover represents the net invoiced sales of services, excluding value added tax.

Turnover is recognised when the company obtains the right to receive consideration in return for its

performance under its contracts and excludes value added tax.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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.

Motor vehicles

-

25% on reducing balance

Computer equipment

-

3 years straight line

Financial instruments

Debt instruments, such as loans and other accounts receivable and payable, are initially measured at present

value of the future payments and subsequently at amortised cost using the effective interest method. Debt

instruments that are payable or receivable within one year, typically trade payables or receivables, are

measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected

to be paid or received. However if the arrangements of a short-term instrument constitute a financing

transaction, such as the payment of a trade debt deferred beyond normal business terms or financed at a rate

of interest that is not a market rate, or in case of an outright short-term loan not at market rate, the financial

asset or liability is measured, initially and subsequently, at the present value of the future payment discounted

at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost 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 the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an

asset's carrying amount and the present value of estimated cash flows discounted at the asset's original

effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any

impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference

between an asset's carrying amount and best estimate, which is an approximation of the amount that the

company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to

realise the asset and settle the liability simultaneously.

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.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, has been amortised

evenly over its useful life of five years.

Impairment

At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but

excluding investment properties, are assessed to determine whether there is an indication that the carrying

amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is

an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use

and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is

lower, the carrying amount of the asset is written down to its estimated recoverable amount and an

impairment loss is recognised in profit and loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2016 - 30 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2016

and 31 October 2017

5,000

AMORTISATION

At 1 November 2016

and 31 October 2017

5,000

NET BOOK VALUE

At 31 October 2017

-

At 31 October 2016

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2016

291,244

Additions

107,251

Disposals

(3,300

)

At 31 October 2017

395,195

DEPRECIATION

At 1 November 2016

79,305

Charge for year

57,971

Eliminated on disposal

(656

)

At 31 October 2017

136,620

NET BOOK VALUE

At 31 October 2017

258,575

At 31 October 2016

211,939

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

Plant and

machinery

etc

£

COST

At 1 November 2016

247,950

Additions

90,000

At 31 October 2017

337,950

DEPRECIATION

At 1 November 2016

66,282

Charge for year

48,193

At 31 October 2017

114,475

NET BOOK VALUE

At 31 October 2017

223,475

At 31 October 2016

181,668

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

229,438

251,556

Amounts recoverable on contract

66,560

45,509

Other debtors

9,202

9,109

305,200

306,174

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

34,913

-

Hire purchase contracts (see note 9)

64,488

46,948

Trade creditors

52,562

19,305

Taxation and social security

43,370

87,088

Other creditors

22,041

50,243

217,374

203,584

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts (see note 9)

96,035

90,473

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2017

2016

£

£

Net obligations repayable:

Within one year

64,488

46,948

Between one and five years

96,035

90,473

160,523

137,421

Non-cancellable

operating leases

2017

2016

£

£

Within one year

46,207

51,294

Between one and five years

61,804

55,861

108,011

107,155

10.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Hire purchase contracts

160,523

137,421

The hire purchase accounts are secured on the assets acquired.

11.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

Accelerated capital allowances

38,632

31,359

Deferred

tax

£

Balance at 1 November 2016

31,359

Increase in provision

7,273

Balance at 31 October 2017

38,632

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100