Westmid Logistics Limited - Accounts to registrar (filleted) - small 18.2

Westmid Logistics Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 08118598(England and Wales)















WESTMID LOGISTICS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 24 DECEMBER 2019






WESTMID LOGISTICS LIMITED (REGISTERED NUMBER: 08118598)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 24 DECEMBER 2019










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


WESTMID LOGISTICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 24 DECEMBER 2019







DIRECTORS: Mr. P.J. Clarke
Mr A Clarke





REGISTERED OFFICE: 15-17 Church Street
Stourbridge
West Midlands
DY8 1LU





REGISTERED NUMBER: 08118598(England and Wales)





ACCOUNTANTS: Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
WESTMID LOGISTICS LIMITED


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 Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and
certain other primary statements and the Report of the Directors are not required to be filed with the Registrar
of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements of Westmid Logistics Limited for the year ended 24 December 2019 which comprise the Income
Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's
accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Westmid Logistics Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Westmid Logistics Limited and state those matters that we have agreed to state to the Board of Directors of Westmid Logistics Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Westmid Logistics Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Westmid Logistics Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Westmid Logistics Limited. You consider that Westmid Logistics Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Westmid Logistics Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU


5 March 2020

WESTMID LOGISTICS LIMITED (REGISTERED NUMBER: 08118598)

STATEMENT OF FINANCIAL POSITION
24 DECEMBER 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 85,695 82,881

CURRENT ASSETS
Stocks 22,000 16,000
Debtors 5 115,059 142,192
Cash at bank 40,555 20,419
177,614 178,611
CREDITORS
Amounts falling due within one year 6 203,332 211,814
NET CURRENT LIABILITIES (25,718 ) (33,203 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

59,977

49,678

CREDITORS
Amounts falling due after more than one
year

7

(20,173

)

(12,580

)

PROVISIONS FOR LIABILITIES (10,729 ) (9,172 )
NET ASSETS 29,075 27,926

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 28,975 27,826
SHAREHOLDERS' FUNDS 29,075 27,926

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 24 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 24 December 2019 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.

WESTMID LOGISTICS LIMITED (REGISTERED NUMBER: 08118598)

STATEMENT OF FINANCIAL POSITION - continued
24 DECEMBER 2019


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 5 March 2020and were signed on its behalf by:





Mr. P.J. Clarke- Director


WESTMID LOGISTICS LIMITED (REGISTERED NUMBER: 08118598)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 24 DECEMBER 2019


1. STATUTORY INFORMATION

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

Turnover
Turnover represents net sales of goods/services, excluding value added tax

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 - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position 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.

WESTMID LOGISTICS LIMITED (REGISTERED NUMBER: 08118598)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 24 DECEMBER 2019


2. ACCOUNTING POLICIES - continued

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12(2018 - 11) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 25 December 2018 15,730 100 157,124 172,954
Additions - 225 23,995 24,220
At 24 December 2019 15,730 325 181,119 197,174
DEPRECIATION
At 25 December 2018 8,067 48 81,958 90,073
Charge for year 1,532 42 19,832 21,406
At 24 December 2019 9,599 90 101,790 111,479
NET BOOK VALUE
At 24 December 2019 6,131 235 79,329 85,695
At 24 December 2018 7,663 52 75,166 82,881

WESTMID LOGISTICS LIMITED (REGISTERED NUMBER: 08118598)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 24 DECEMBER 2019


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 25 December 2018 20,950
Additions 23,995
At 24 December 2019 44,945
DEPRECIATION
At 25 December 2018 4,190
Charge for year 8,151
At 24 December 2019 12,341
NET BOOK VALUE
At 24 December 2019 32,604
At 24 December 2018 16,760

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade debtors 115,059 142,192

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Hire purchase contracts 11,282 12,958
Trade creditors 19,941 34,964
Taxation and social security 45,790 27,358
Other creditors 126,319 136,534
203,332 211,814

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2019 2018
£    £   
Hire purchase contracts 20,173 12,580

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mr. P.J. Clarke.