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Company registration number: 06322188
Bulk Logistic Solutions (Food) Limited
Filleted financial statements
31 December 2023
Bulk Logistic Solutions (Food) Limited
Contents
Directors and other information
Directors' report
Balance sheet
Notes to the financial statements
Bulk Logistic Solutions (Food) Limited
Directors and other information
Directors Mr Gary Cope
Mr Jan Koolen
Mr Gerard De Groot
Mr Eric Staal
Secretary Mr Jan Koolen
Company number 06322188
Registered office 6-7 Waterside House
Maritime Business Park
Livingston Road
Hessle
HU13 0EG
Auditor Jones Peters
Chartered Accountants
Hughes House
6/7 Church Street
Banbridge
BT32 4AA
Bankers Natwest Bank Plc
100 Old Hall Street
Liverpool
L3 9QJ
Rabobank Nederland
Croeselaan 18
3521 CB Utrecht
Netherlands
Bulk Logistic Solutions (Food) Limited
Directors' report
Year ended 31 December 2023
The directors present their report and the financial statements of the company for the year ended 31 December 2023.
Directors
The directors who served the company during the year were as follows:
Mr Gary Cope
Mr Jan Koolen
Mr Gerard De Groot
Mr Eric Staal
Directors responsibilities statement
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent; and
- 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 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.
Auditor
Each of the persons who is a director at the date of approval of this report confirms that:
- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 25 June 2024 and signed on behalf of the board by:
Mr Jan Koolen Mr Gerard De Groot
Director Director
Bulk Logistic Solutions (Food) Limited
Balance sheet
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 14,135 14,163
_______ _______
14,135 14,163
Current assets
Debtors 6 1,021,502 1,434,496
Cash at bank and in hand 174,884 213,614
_______ _______
1,196,386 1,648,110
Creditors: amounts falling due
within one year 7 ( 1,075,201) ( 1,351,599)
_______ _______
Net current assets 121,185 296,511
_______ _______
Total assets less current liabilities 135,320 310,674
Provisions for liabilities ( 843) ( 843)
_______ _______
Net assets 134,477 309,831
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 134,377 309,731
_______ _______
Shareholders funds 134,477 309,831
_______ _______
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss account and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 25 June 2024 , and are signed on behalf of the board by:
Mr Jan Koolen Mr Gerard De Groot
Director Director
Company registration number: 06322188
Bulk Logistic Solutions (Food) Limited
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Bulk Logistic Solutions (UK) Limited, 6-7 Waterside House, Maritime Business Park, Livingston Road, Hessle, HU13 0EG.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The company has taken advantage of the exemption in Section 1A of FRS 102 from the requirement to produce a cashflow statement because it is a small company.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
No significant judgements have had to be made by management in preparing these financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 20 % straight line
Fittings fixtures and equipment - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance Sheet and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2022: 9 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 January 2023 3,616 29,505 33,121
Additions - 5,522 5,522
_______ _______ _______
At 31 December 2023 3,616 35,027 38,643
_______ _______ _______
Depreciation
At 1 January 2023 1,363 17,595 18,958
Charge for the year 566 4,984 5,550
_______ _______ _______
At 31 December 2023 1,929 22,579 24,508
_______ _______ _______
Carrying amount
At 31 December 2023 1,687 12,448 14,135
_______ _______ _______
At 31 December 2022 2,253 11,910 14,163
_______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 752,776 1,178,222
Prepayments and accrued income 11,152 70,527
Other debtors 257,574 185,747
_______ _______
1,021,502 1,434,496
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 769,963 1,075,735
Accruals and deferred income 193,063 197,589
Corporation tax 51,771 36,374
Social security and other taxes 10,875 14,242
Other creditors 49,529 27,659
_______ _______
1,075,201 1,351,599
_______ _______
8. Summary audit opinion
The auditor's report for the year dated 25 June 2024 was unqualified.
The senior statutory auditor was Paul Cummings for and on behalf of Jones Peters
10. Controlling party
Bulk Logistic Solutions (Food) Limited is a 100% subsidiary of Bulk Logistic Solutions International Limited, a company incorporated in the Republic of Ireland. Bulk Logistic Solutions International Limited is a 100% subsidiary of BLS Beheer B.V., a company incorporated in the Netherlands. The ultimate controlling party of BLS Beheer B.V. is Johannes Baptistus Koolen, a Dutch national who has the majority shareholding in this company.