Registered number:
FOR THE YEAR ENDED 30 SEPTEMBER 2023
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LIQUIDITY SERVICES UK LIMITED
COMPANY INFORMATION
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LIQUIDITY SERVICES UK LIMITED
CONTENTS
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LIQUIDITY SERVICES UK LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
The Directors present their Strategic Report in respect of the year ended 30 September 2023.
The Company’s principal activity is the provision of services as industrial auctioneers, valuers and consultants. The Company has continued sales of assets through auction and private sale of principally owned assets.
Revenue has decreased to £10.9m from £11.3m. There was a reduction in principal asset sales of £1.0m offset by an increase of consignment sales in the same period of £0.6m. The increase in consignment activity was largely due to having secured a large medium-term project for the disposal of assets in a single project across multi-national sites, all conducted on a consignment basis. There was a slight reduction in opportunities related to not being able to acquire inventory, but the Company continued to share the risk through partnering with competitors across Europe. However, due to uncertainties with market pricing there were sales that did not achieve the anticipated sales prices that were considered at the investment appraisal stage and so revenue and profit was lower in respect of these. Overall gross profit has increased from £4.6m to £6.0m, representing a 32% increase. This growth profile represents a higher proportion of sales activity having bene generated with the Company acting without the participation of commercial partners in the consignment sale sector. Administration expenses increased by £0.6m, driven by performance related bonus payments being made in the year. There continues to be investment in the sector and development of the business with expected future growth enabling the Company to generate profits.
The Company will continue to invest in its subsidiaries and look for future investments that will provide benefits for the Company's shareholders.
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LIQUIDITY SERVICES UK LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
The Directors continually review and evaluate the risks that the Company is facing. The principal risks and uncertainties the Company is facing are:
Product supply risks
Liquidity Services UK Limited relies on the supply of saleable assets from third parties to be able to generate an income from the sales or commissions earned on the sale of those assets. While the Company has several forward flow agreements with several large multinational companies, there is no guarantee for the supply of assets for sale within those agreements. Competitive risk There are several competitors within the market and the Company puts a strong emphasis on being part of a wider global group of companies with a presence in each continent. The Company is further developing online tools to enable wider coverage of each sale to a greater number of registered buyers in the wider Liquidity Services buyer population and looks to utlise this as a competitive differentiator. The Company also needs to maintain a competitive level of pricing when negotiating commission rates. Financial risks The Company is a wholly owned subsidiary of Liquidity Services Limited, which is in turn a wholly owned subsidiary of Liquidity Services, Inc., a company incorporated in the United States of America. The Company’s operating structure and activities expose it to a limited range of financial risks; principally interest rate and foreign currency risk. As a member of the Liquidity Services, Inc. Group, the Company has access to a range of resources in managing these risks. The Company has established a risk and financial management framework with the primary objective of protecting the Company from events that hinder the achievement of the Company’s performance objectives, which fits within the framework of the ultimate parent undertaking. Liquidity and cashflow risks Cash flow risk is the risk of exposure to variability in cash flows that is attributable to a particular risk associated with a recognised asset or liability. The Company manages this risk by the use of Group funding facilities.
Management (including the Directors) regularly prepares and reviews financial forecasts to manage the business and make investment decisions. Management has used these practices to continue to take proactive actions to conserve resources and maximise opportunities for revenue generation.
To the extent necessary, the Company continues to have the financial support of its ultimate parent company, Liquidity Services, Inc. The ultimate parent company has the available financial resources to provide any necessary support and has provided a support letter expressing its intent to continue to provide any financial support required through 12 months from the issuance of the financial statements.
Based upon these considerations, the Directors continue to adopt the going concern basis in preparing the Annual report and Financial statements.
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LIQUIDITY SERVICES UK LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
This report was approved by the board on 14 August 2024 and signed on its behalf.
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LIQUIDITY SERVICES UK LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
The Directors present their report and the financial statements for the year ended 30 September 2023.
The Directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the Directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The loss for the year, after taxation, amounted to £226 thousand (2022 - loss £1,016 thousand).
The directors do not recommend the payment of a dividend (2022 - £Nil).
The Directors who served during the year and their interests in the Company's issued share capital were:
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LIQUIDITY SERVICES UK LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
The Company will continue to invest in its subsidiaries and look for future investments that will provide benefits for the Company's shareholders.
There have been no significant events affecting the Company since the year end.
The auditors, Clifford Fry and Co LLP (Statutory auditors), will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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LIQUIDITY SERVICES UK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LIQUIDITY SERVICES UK LIMITED
We have audited the financial statements of Liquidity Services UK Limited (the 'Company') for the year ended 30 September 2023, which comprise the Profit and loss account, the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.
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LIQUIDITY SERVICES UK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LIQUIDITY SERVICES UK LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The Directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
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LIQUIDITY SERVICES UK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LIQUIDITY SERVICES UK LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We gained an understanding of the legal and regulatory framework applicable to the Company, including obtaining details on how they identify and comply with laws and regulations and whether they were aware of any non-compliance, how they detect and respond to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud, and finally the controls they have in order to mitigate risks of fraud or non-compliance with laws and regulations. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, intentional misrepresentations. As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas: revenue and profit recognition. We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud, and enquiries with management. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
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LIQUIDITY SERVICES UK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LIQUIDITY SERVICES UK LIMITED (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
St Mary's House
Netherhampton
Wiltshire
SP2 8PU
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LIQUIDITY SERVICES UK LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
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LIQUIDITY SERVICES UK LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2023
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LIQUIDITY SERVICES UK LIMITED
REGISTERED NUMBER: 04092016
BALANCE SHEET
AS AT 30 SEPTEMBER 2023
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 15 to 37 form part of these financial statements.
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LIQUIDITY SERVICES UK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2023
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LIQUIDITY SERVICES UK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2022
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LIQUIDITY SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Liquidity Services (UK) Limited is a private company limited by share capital, registered and incorporated and in England and Wales. The registered office is C/O Corporation Service Company (UK) Limited, 5 Churchill Place, 10th Floor, London, E14 5HU. The Company's principal place of business is 1 King William Street, London, EC4N 7AR. The principal activity of the Company throughout the year was that of industrial auctioneers, valuers and consultants.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Liquidity Services, Inc. as at 30 September 2021 and these financial statements may be obtained from 6931 Arlington Road Suite 200, Bethesda, Maryland, 20814, United States of America.
The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of a state other than the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 401 of the Companies Act 2006.
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LIQUIDITY SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
2.Accounting policies (continued)
To the extent necessary, the Company continues to have the financial support of its parent company, Liquidity Services, Inc. The parent company has the available financial resources to provide any necessary support and has provided a support letter expressing its intent to continue to provide any financial support required through 12 months from the issuance of the financial statements.
Based upon these considerations, the Directors continue to adopt the going concern basis in preparing the Annual report and Financial statements.
Functional and presentation currency
Transactions and balances
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LIQUIDITY SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
2.Accounting policies (continued)
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LIQUIDITY SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
2.Accounting policies (continued)
The Company operates two pension schemes:
Defined benefit pension plan The amount charged to the profit and loss account in respect of pension costs and other post-retirement benefits is the estimated regular cost of providing the benefits accrued, adjusted to reflect variations from that cost. The interest and expected return on assets are included within interest payable net. The scheme is funded with the assets held separately from the Company in separate trustee administered funds. A liability is recognised in the balance sheet in respect of the defined benefit scheme which represents the present value of the defined benefit obligation at the balance sheet date less the fair value of plan assets. A full valuation of the liability is calculated by an independent actuary every three years and updated on an annual basis using the projected unit method. The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows using interest rates of high quality corporate bonds that are denominated in the currency in which the benefits will be paid and that have the terms to maturity approximating to the terms of the related pension liability. Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are recognised in reserves in the year in which they arise. Past service costs are recognised immediately in income, unless the changes to the pension scheme are conditional on the employees remaining in service for a specified period of time (the vesting period). In this case the past service costs are amortised on a straight-line basis over the vesting period. A pension scheme asset is recognised on the balance sheet only to the extent that the surplus may be recovered by reduced future contributions or to the extent that the trustees have agreed a refund from the scheme at the balance sheet date. A pension liability is recognised to the extent that the Company has a legal or constructive obligation to settle the liability.
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LIQUIDITY SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
2.Accounting policies (continued)
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
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LIQUIDITY SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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LIQUIDITY SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
2.Accounting policies (continued)
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LIQUIDITY SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
2.Accounting policies (continued)
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
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LIQUIDITY SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
The calculation of the defined benefit pension scheme asset/liability requires significant judgement in the adoption of various assumptions. Any movement in the assumptions could have a material impact on the financial statements. Investment impairment The Company considers whether investments in subsidiary undertakings are impaired. Where an indication of impairment is identified the estimation of recoverable value requires an assessment of the recoverable value of cash generating units (CGUs), which in turn requires assumptions to be made about future cash flows from the CGUs and the appropriate discount rates in order to calculate the net present value of those cash flows. This represented a critical judgement, but all investments have now been fully impaired.
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LIQUIDITY SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
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LIQUIDITY SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
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LIQUIDITY SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
At Budget 2023, the government announced that the Corporation Tax main rate (for all profits except ring fence profits) for the years starting 1 April 2023 would increase to 25%.
No deferred tax asset has been recognised in respect of trading losses as the directors cannot forsee with sufficient certainty the period over which these differences are expected to be utilised.
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LIQUIDITY SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
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LIQUIDITY SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
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LIQUIDITY SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
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LIQUIDITY SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
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LIQUIDITY SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Capital contribution reserve
Profit and loss account
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LIQUIDITY SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £134,215 (2022 - £87,093). Contributions totalling £Nil (2022 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.
In addition to a defined contribution scheme the Company also maintains a defined benefit scheme, the Henry Butcher Pension and Life Assurance Scheme. This scheme is closed to new members and with effect from 31 December 2004, active members ceased to accrue benefits on a defined benefit basis and salary linkage was broken to their accrued rights. A new money purchase section was opened with effect from 1 January 2005 in which existing defined benefit members and new entrants were invited to join.
The scheme is fully funded. In April 2022 there was a change made to the Schedule of Contributions in order to facilitate the pension fund servicing its own administration costs. Liquidity Services UK Limited has made monthly contributions into the scheme totalling £240,000 (2022 - £120,000). Contributions totalling £120,000 (2022 - £120,000) were payable to the fund at the balance sheet date and are included in creditors. The valuations have been based upon the most recent full valuation performed on 31 December 2018 as updated by the actuaries to reflect the projected scheme liabilities at 30 September 2023. Scheme assets have been presented at their market value at 30 September 2023.
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LIQUIDITY SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
22.Pension commitments (continued)
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LIQUIDITY SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
22.Pension commitments (continued)
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LIQUIDITY SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
22.Pension commitments (continued)
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LIQUIDITY SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
22.Pension commitments (continued)
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LIQUIDITY SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
The Company is a wholly owned subsidiary of Liquidity Services Limited, a company incorporated and registered in the United Kingdom. The registered office of Liquidity Services Limited is C/O Corporation Service Company (UK) Limited, 5 Churchill Place, 10th Floor, London, E14 5HU.
The ultimate parent undertaking is Liquidity Services Inc., a company registered in the United States of America. The address of the largest and smallest group in which the results of the Company are available from is 6931 Arlington Road Suite 200, Bethesda, Maryland, 20814, United States of America. The controlling party is W P Angrick III.
The Company is exempt from the requirement to prepare group financial statements by virtue of section 401 of the Companies Act 2006.
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