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REGISTERED NUMBER: 06770063 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

DENIZ LOGISTICS LIMITED

DENIZ LOGISTICS LIMITED (REGISTERED NUMBER: 06770063)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


DENIZ LOGISTICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: C Taskan
H Kucuktuzun





SECRETARY: H Kucuktuzun





REGISTERED OFFICE: 266-268 High Street
Waltham Cross
Hertfordshire
EN8 7EA





REGISTERED NUMBER: 06770063 (England and Wales)





ACCOUNTANTS: UCS Accountants
266-268 High Street
Waltham Cross
Hertfordshire
EN8 7EA

DENIZ LOGISTICS LIMITED (REGISTERED NUMBER: 06770063)

BALANCE SHEET
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 320,661 224,802

CURRENT ASSETS
Debtors 5 474,863 272,828
Cash at bank and in hand 766,016 801,417
1,240,879 1,074,245
CREDITORS
Amounts falling due within one year 6 565,648 576,651
NET CURRENT ASSETS 675,231 497,594
TOTAL ASSETS LESS CURRENT
LIABILITIES

995,892

722,396

CREDITORS
Amounts falling due after more than one
year

7

101,082

176,270
NET ASSETS 894,810 546,126

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 9 894,808 546,124
SHAREHOLDERS' FUNDS 894,810 546,126

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

DENIZ LOGISTICS LIMITED (REGISTERED NUMBER: 06770063)

BALANCE SHEET - continued
28 FEBRUARY 2023


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 and authorised for issue on 10 November 2023 and were signed on its behalf by:





H Kucuktuzun - Director


DENIZ LOGISTICS LIMITED (REGISTERED NUMBER: 06770063)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Deniz 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 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 financial statements have been prepared on the historical cost basis except for the modification to a fair value basis for certain financial instruments as specified in the accounting policies below.

The financial statements are presented in pounds sterling, which is the functional currency of the company.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgement and estimates have been made include:

a - Critical judgements in applying accounting policies
There are no critical judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

b - Key accounting estimates and assumptions
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. There are no key estimates and assumptions that have significant potential impact upon the carrying values of assets and liabilities.

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.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

DENIZ LOGISTICS LIMITED (REGISTERED NUMBER: 06770063)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other debtors and creditors, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade creditors or debtors, are measured, initially and subsequently, at the undiscounted amount of the cash and other consideration, expected to be paid or received.

However if the arrangements of a short-term instrument constitute a financing transaction, like 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 out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised 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 Profit and Loss Account.

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
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 27 (2022 - 18 ) .

DENIZ LOGISTICS LIMITED (REGISTERED NUMBER: 06770063)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2022 5,490 297,714 19,738 322,942
Additions 754 178,358 5,049 184,161
Disposals - (19,876 ) - (19,876 )
At 28 February 2023 6,244 456,196 24,787 487,227
DEPRECIATION
At 1 March 2022 3,883 83,657 10,600 98,140
Charge for year 472 76,851 2,837 80,160
Eliminated on disposal - (11,734 ) - (11,734 )
At 28 February 2023 4,355 148,774 13,437 166,566
NET BOOK VALUE
At 28 February 2023 1,889 307,422 11,350 320,661
At 28 February 2022 1,607 214,057 9,138 224,802

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Other debtors 1,000 -
Accrued income 473,863 272,828
474,863 272,828

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 9,904 9,863
Hire purchase contracts 61,569 66,339
Trade creditors 27,767 20,064
Tax 109,755 109,687
Social security and other taxes 4,735 6,693
VAT 333,860 363,852
Wages 13,003 -
Pension 55 153
Directors' loan accounts 5,000 -
565,648 576,651

DENIZ LOGISTICS LIMITED (REGISTERED NUMBER: 06770063)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans - 1-2 years 9,874 19,747
Bank loans - 2-5 years 13,555 13,723
Hire purchase contracts 77,653 142,800
101,082 176,270

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
2 Ordinary £1 2 2

9. RESERVES
Retained
earnings
£   

At 1 March 2022 546,124
Profit for the year 462,684
Dividends (114,000 )
At 28 February 2023 894,808

10. ULTIMATE CONTROLLING PARTY

Ultimate control of the company was exercised by Mr C Taskan and Mr H Kucuktuzun by virtue of their equal shareholding.