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REGISTERED NUMBER: 10298135 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

MULTIPORT SERVICES LTD

MULTIPORT SERVICES LTD (REGISTERED NUMBER: 10298135)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MULTIPORT SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: F L Engelchor





REGISTERED OFFICE: Clarence Street Chambers
32 Clarence Street
Southend-on-Sea
Essex
SS1 1BD





BUSINESS ADDRESS: 41 Berth London Container Terminal
Port of Tilbury
Tilbury
Essex
RM18 7HX





REGISTERED NUMBER: 10298135 (England and Wales)





ACCOUNTANTS: A.R. Lee & Co.
Chartered Certified Accountants
Clarence Street Chambers
32 Clarence Street
Southend-on-Sea
Essex
SS1 1BD

MULTIPORT SERVICES LTD (REGISTERED NUMBER: 10298135)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10,125 14,625
Tangible assets 5 202,249 250,438
212,374 265,063

CURRENT ASSETS
Debtors 6 91,376 140,882
Cash at bank and in hand 1,145 45,122
92,521 186,004
CREDITORS
Amounts falling due within one year 7 770,576 448,271
NET CURRENT LIABILITIES (678,055 ) (262,267 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(465,681

)

2,796

CREDITORS
Amounts falling due after more than one year 8 - (28,199 )

PROVISIONS FOR LIABILITIES - (7,945 )
NET LIABILITIES (465,681 ) (33,348 )

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings (465,682 ) (33,349 )
SHAREHOLDERS' FUNDS (465,681 ) (33,348 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MULTIPORT SERVICES LTD (REGISTERED NUMBER: 10298135)

BALANCE SHEET - continued
31 DECEMBER 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 director and authorised for issue on 21 August 2024 and were signed by:





F L Engelchor - Director


MULTIPORT SERVICES LTD (REGISTERED NUMBER: 10298135)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Multiport Services Ltd 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 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

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.

Going concern
Notwithstanding the deficiency of net current assets at the year end as shown in the balance sheet, the director is confident the company can continue as a going concern on the basis of the holding company's (SCS Multiport B.V) continued financial support to the company.

MULTIPORT SERVICES LTD (REGISTERED NUMBER: 10298135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 22,500
AMORTISATION
At 1 January 2023 7,875
Charge for year 4,500
At 31 December 2023 12,375
NET BOOK VALUE
At 31 December 2023 10,125
At 31 December 2022 14,625

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
Portacabin machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 312,938 107,786 8,133 5,614 434,471
Additions - 7,950 - - 7,950
Disposals - (61,979 ) - - (61,979 )
At 31 December 2023 312,938 53,757 8,133 5,614 380,442
DEPRECIATION
At 1 January 2023 104,317 67,986 6,397 5,333 184,033
Charge for year 20,863 12,346 1,628 138 34,975
Eliminated on disposal - (40,815 ) - - (40,815 )
At 31 December 2023 125,180 39,517 8,025 5,471 178,193
NET BOOK VALUE
At 31 December 2023 187,758 14,240 108 143 202,249
At 31 December 2022 208,621 39,800 1,736 281 250,438

MULTIPORT SERVICES LTD (REGISTERED NUMBER: 10298135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors - 121,147
Corporation tax repayable 4,333 -
VAT 1,746 15,557
Deferred tax asset 84,181 -
Prepayments 1,116 4,178
91,376 140,882

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 159,827 387,860
Corporation tax - 4,333
Social security and other taxes 4,269 5,320
Other creditors 34,626 8,278
SCS Multiport Loan Account 571,854 42,480
770,576 448,271

Multiport Services Ltd owes £571,854 (2023 - £70,679) to SCS Multiport B.V in respect of working capital loans. The loan is repaid with receipt of a written demand from SCS Multiport B.V together with all interest accrued on the principal amount of the Debt as at the date of repayment.
Interest shall accrue on the principal amount of the Debt at a rate of [4%] per annum.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
SCS Multiport loan - 28,199

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1 Ordinary £1 1 1