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REGISTERED NUMBER: 07604823 (England and Wales)










Harlequin Global Logistics Limited

Financial Statements

for the Year Ended 31 December 2022






Harlequin Global Logistics Limited (Registered number: 07604823)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Harlequin Global Logistics Limited

Company Information
for the Year Ended 31 December 2022







DIRECTOR: D J Wallis





REGISTERED OFFICE: Unit 2
Eastman Way
Pin Green Industrial Area
Stevenage
Hertfordshire
SG1 4SZ





REGISTERED NUMBER: 07604823 (England and Wales)





AUDITORS: SKS Audit LLP
3 Sheen Road
Richmond Upon Thames
TW9 1AD

Harlequin Global Logistics Limited (Registered number: 07604823)

Balance Sheet
31 December 2022

2022 2021
Notes £    £   
FIXED ASSETS
Tangible assets 3 37,802 74,211

CURRENT ASSETS
Stocks 42,857 12,554
Debtors 4 1,109,631 791,810
Cash at bank 12,487 3,034
1,164,975 807,398
CREDITORS
Amounts falling due within one year 5 (899,272 ) (576,031 )
NET CURRENT ASSETS 265,703 231,367
TOTAL ASSETS LESS CURRENT
LIABILITIES

303,505

305,578

DEFERRED TAXATION 6 - (3,618 )
NET ASSETS 303,505 301,960

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 303,405 301,860
SHAREHOLDERS' FUNDS 303,505 301,960

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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 February 2024 and were signed by:





D J Wallis - Director


Harlequin Global Logistics Limited (Registered number: 07604823)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. ACCOUNTING POLICIES

COMPANY INFORMATION
Harlequin Global Logistics Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2, Eastman Way, Pin Green Industrial Area, Stevenage, Hertfordshire, SG1 4SZ.

ACCOUNTING CONVENTION
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements of the company are consolidated in the financial statements of Harlequin Design (London) LImited. These consolidated financial statements may be obtained from Companies House, Crown Way, Cardiff.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

GOING CONCERN
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

The company also has the support of the wider group, which consists of the principal creditor of the company.

TURNOVER
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably.

TANGIBLE FIXED ASSETS
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery 25% Reducing Balance
Computer equipment 33% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

IMPAIRMENT OF FIXED ASSETS
At each reporting period end date, the company reviews the carrying amounts of its tangible assets and any impairment loss is recognised immediately in profit or loss.

Harlequin Global Logistics Limited (Registered number: 07604823)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

1. ACCOUNTING POLICIES - continued

STOCKS
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

FINANCIAL INSTRUMENTS
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements, when there is a legally 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.

TRADE AND OTHER DEBTORS
Trade and other debtors are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

TRADE AND OTHER CREDITORS
Trade and other creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

TAXATION
The tax expense represents the sum of the tax currently payable and deferred tax.

CURRENT TAX
The tax currently payable is based on taxable profit for the year. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

DEFERRED TAX
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

EMPLOYEE BENEFITS
The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.


Harlequin Global Logistics Limited (Registered number: 07604823)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

1. ACCOUNTING POLICIES - continued
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

RETIREMENT BENEFITS
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

LEASES
Assets acquired under hire purchase contracts are depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

GOVERNMENT GRANTS
Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

FOREIGN EXCHANGE
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2021 - 8 ) .

3. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 January 2022 704,444 2,880 707,324
Disposals (225,000 ) - (225,000 )
At 31 December 2022 479,444 2,880 482,324
DEPRECIATION
At 1 January 2022 630,511 2,602 633,113
Charge for year 18,483 93 18,576
Eliminated on disposal (207,167 ) - (207,167 )
At 31 December 2022 441,827 2,695 444,522
NET BOOK VALUE
At 31 December 2022 37,617 185 37,802
At 31 December 2021 73,933 278 74,211

Harlequin Global Logistics Limited (Registered number: 07604823)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Amounts owed by group undertakings 1,107,635 754,051
Deferred tax asset 1,996 -
Prepayments - 37,759
1,109,631 791,810

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 144,690 272,716
Amounts owed to group undertakings 709,298 123,788
Taxation and social security 25,379 153,357
Other creditors 19,905 26,170
899,272 576,031

6. DEFERRED TAXATION
2021
£   
Deferred tax 3,618

Deferred
tax
£   
Balance at 1 January 2022 3,618
Credit to profit or loss (5,614 )
Balance at 31 December 2022 (1,996 )

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary share of £1 each 1 100 100

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Craggs (Senior Statutory Auditor)
for and on behalf of SKS Audit LLP

Harlequin Global Logistics Limited (Registered number: 07604823)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

9. OPERATING LEASE COMMITMENTS

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2022 2021
£ £
- 1,259

10. RELATED PARTY TRANSACTIONS

The company has taken advantage of the exemption available under FRS 102 chapter 33 not to disclose transactions or balances with its parent company and wholly owned fellow subsidiaries.

11. CONTROLLING PARTY

The immediate and ultimate parent company and controlling party is Harlequin Design (London) Limited, a company registered in England and Wales with its registered office at Unit 2, Eastman Way, Pin Green Industrial Area, Stevenage, Hertfordshire, England, SG1 4SZ