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REGISTERED NUMBER: 12123857 (England and Wales)












Financial Statements

for the Year Ended 31 December 2023

for

Deliverect Ltd

Deliverect Ltd (Registered number: 12123857)






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


Deliverect Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: J P Laredo
Z Y Xu





SECRETARY: MYUKOFFICE LTD





REGISTERED OFFICE: 8 Northumberland Avenue
London
WC2N 5BY





REGISTERED NUMBER: 12123857 (England and Wales)





AUDITORS: Try Lunn & Co
Chartered Accountants
and Statutory Auditors
Roland House
Princes Dock Street
HULL HU1 2LD

Deliverect Ltd (Registered number: 12123857)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 56,695 76,768

CURRENT ASSETS
Debtors 5 411,793 378,851
Cash at bank 290,962 180,327
702,755 559,178
CREDITORS
Amounts falling due within one year 6 378,036 470,669
NET CURRENT ASSETS 324,719 88,509
TOTAL ASSETS LESS CURRENT
LIABILITIES

381,414

165,277

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 381,314 165,177
SHAREHOLDERS' FUNDS 381,414 165,277

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 3 September 2024 and were signed on its behalf by:





Z Y Xu - Director


Deliverect Ltd (Registered number: 12123857)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Deliverect 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.

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.

The company is dependent on the continued financial support of Deliverect NV. The directors of Deliverect NV have agreed to provide continued financial support to ensure the company will be able to trade as a going concern for the foreseeable future.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 25%

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.

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.

Deliverect Ltd (Registered number: 12123857)

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 39 (2022 - 38 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 109,396
Additions 7,726
At 31 December 2023 117,122
DEPRECIATION
At 1 January 2023 32,628
Charge for year 27,799
At 31 December 2023 60,427
NET BOOK VALUE
At 31 December 2023 56,695
At 31 December 2022 76,768

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 411,793 378,851

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 15,863 1,436
Amounts owed to group undertakings 33,459 277,297
Taxation and social security 16,961 27,035
Other creditors 311,753 164,901
378,036 470,669

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year - 173,904

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

Deliverect Ltd (Registered number: 12123857)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. RESERVES
Retained
earnings
£   

At 1 January 2023 165,177
Profit for the year 216,137
At 31 December 2023 381,314

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Ewart FCA FCCA (Senior Statutory Auditor)
for and on behalf of Try Lunn & Co

11. RELATED PARTY DISCLOSURES

During the period the company charged management fees under normal commercial terms totalling £4,802,393 (2022: 4,236,468) to Deliverect NV, the parent company of Deliverect Limited.

During the year Deliverect NV paid for expenditure totalling £4,618,413 (2022: £7,211,282) on behalf of Deliverect Limited.

At the balance sheet date an amount of £33,459 (2022: £277,297) was owed to Deliverect NV.

12. ULTIMATE CONTROLLING PARTY

The immediate controlling party is Deliverect NV. There is no ultimate controlling party.