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REGISTERED NUMBER: 03948823 (England and Wales)


















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: I R Liddell
T D J Clear



SECRETARY: N K Brooks



REGISTERED OFFICE: Upminster Court
133 Hall Lane
Upminster
Essex
RM14 1AL



REGISTERED NUMBER: 03948823 (England and Wales)



SENIOR STATUTORY AUDITOR: Andrew Green LLB FCA



AUDITORS: THP Limited
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 2,160,063 2,179,861
Cash at bank 3,862,036 2,253,016
6,022,099 4,432,877
CREDITORS
Amounts falling due within one year 7 4,202,762 2,867,484
NET CURRENT ASSETS 1,819,337 1,565,393
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,819,337

1,565,393

CAPITAL AND RESERVES
Called up share capital 200 200
Share premium 49,950 49,950
Retained earnings 1,769,187 1,515,243
1,819,337 1,565,393

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 Board of Directors and authorised for issue on 10 September 2024 and were signed on its behalf by:





I R Liddell - Director


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 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% 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.

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 49 (2022 - 50 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2023
and 31 December 2023 86,894
DEPRECIATION
At 1 January 2023
and 31 December 2023 86,894
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 211,132 228,602
Amounts owed by group undertakings 1,913,591 1,926,809
Other debtors 2,757 5,138
VAT 7,845 4,620
Prepayments and accrued income 24,738 14,692
2,160,063 2,179,861

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 294,878 141,466
Amounts owed to group undertakings 3,328,103 2,162,778
Corporation tax 184,749 99,753
Social security and other taxes 40,624 43,060
Other creditors 7,949 8,418
Accrued expenses 346,459 412,009
4,202,762 2,867,484

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 50,284 50,088
Between one and five years 75,722 25,044
126,006 75,132

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.

Andrew Green LLB FCA (Senior Statutory Auditor)
for and on behalf of THP Limited

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.