REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
CUSTOMS INSIGHTS CONSULTANCY LIMITED |
REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
CUSTOMS INSIGHTS CONSULTANCY LIMITED |
CUSTOMS INSIGHTS CONSULTANCY LIMITED (REGISTERED NUMBER: 03948823) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
CUSTOMS INSIGHTS CONSULTANCY LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Chartered Accountants |
and Statutory Auditors |
34-40 High Street |
Wanstead |
London |
E11 2RJ |
CUSTOMS INSIGHTS CONSULTANCY LIMITED (REGISTERED NUMBER: 03948823) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
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 |
CUSTOMS INSIGHTS CONSULTANCY LIMITED (REGISTERED NUMBER: 03948823) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Customs Insights Consultancy Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Revenue |
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for services rendered, net of refunds, discounts and value added taxes. |
Revenue is recognised at the point of customs clearance when the company has fulfilled its obligation. |
Revenue includes recharges made to customers in relation to Import Duty and VAT. The related costs are included in cost of sales. |
Tangible fixed assets |
Fixtures and fittings | - |
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. |
The GB Europe Holdings Limited group offsets its corporation tax profits against the losses of other entities within the group via group relief as permitted by the UK tax legislation. Where such relief is claimed no payment is made between group entities. |
The company is party to group transactions where transfer pricing regulations apply. A formal transfer pricing review is in progress which may impact the tax treatment of group transactions. Should adjustment for transfer pricing result, then any group entity with additional tax liability will be compensated by the group entity with reduced tax liability. |
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. |
CUSTOMS INSIGHTS CONSULTANCY LIMITED (REGISTERED NUMBER: 03948823) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
3. | ACCOUNTING POLICIES - continued |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
VAT |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Corporation tax |
Social security and other taxes |
Other creditors |
Accrued expenses |
CUSTOMS INSIGHTS CONSULTANCY LIMITED (REGISTERED NUMBER: 03948823) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
The above operating leases relate to rent for office premises. |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | CONTINGENT LIABILITIES |
The Company is party to a cross guarantee in the form of a charge over its assets, to the favour of the Company's principal bankers. |
11. | ULTIMATE CONTROLLING PARTY |
The immediate UK parent company is Uniserve Holdings Limited, a company incorporated in England and Wales. |
The ultimate parent company is GB Global Holdco. Pte. Ltd., a company incorporated in Singapore. |
The UK parent undertaking for which consolidated accounts are prepared in GB Europe Holdings Limited. These consolidated accounts may be obtained from the Companies House website. |
The ultimate controlling party is I R Liddell. |