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REGISTERED NUMBER: 07344684 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Forrest Logistics Limited

Forrest Logistics Limited (Registered number: 07344684)






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


Forrest Logistics Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: A P de Bruijne





REGISTERED OFFICE: 14a Waterside Business Park
Livingstone Road
Hessle
East Yorkshire
HU13 0EG





REGISTERED NUMBER: 07344684 (England and Wales)





AUDITORS: Haines Watts, Chartered Accountants
117 - 119 Cleethorpe Road
Grimsby
North East Lincs
DN31 3ET

Forrest Logistics Limited (Registered number: 07344684)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,294 6,382

CURRENT ASSETS
Stocks 13,096 -
Debtors 5 1,115,716 1,147,235
Cash at bank 73,343 97,871
1,202,155 1,245,106
CREDITORS
Amounts falling due within one year 6 860,158 998,046
NET CURRENT ASSETS 341,997 247,060
TOTAL ASSETS LESS CURRENT
LIABILITIES

347,291

253,442

PROVISIONS FOR LIABILITIES 1,119 1,212
NET ASSETS 346,172 252,230

CAPITAL AND RESERVES
Called up share capital 101 101
Share premium 124,999 124,999
Retained earnings 221,072 127,130
SHAREHOLDERS' FUNDS 346,172 252,230

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 July 2024 and were signed by:





A P de Bruijne - Director


Forrest Logistics Limited (Registered number: 07344684)

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

1. STATUTORY INFORMATION

Forrest Logistics 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. 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents the amount receivable for services rendered, net of discounts and rebates allowed by the Company and value added taxes.

Turnover is recognised on delivery of the customer's goods.

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 20% straight line.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

It is company policy not to capitalise expenditure under £1,000.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Forrest Logistics Limited (Registered number: 07344684)

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

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 21 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2023 7,505
Additions 495
At 31 December 2023 8,000
DEPRECIATION
At 1 January 2023 1,123
Charge for year 1,583
At 31 December 2023 2,706
NET BOOK VALUE
At 31 December 2023 5,294
At 31 December 2022 6,382

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,007,263 996,539
Amounts recoverable on contract - 16,117
Other debtors 108,453 134,579
1,115,716 1,147,235

Forrest Logistics Limited (Registered number: 07344684)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 788,691 935,632
Taxation and social security 49,380 38,413
Other creditors 22,087 24,001
860,158 998,046

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

The Report of the Auditors was unqualified.

Mark Stothard BA(Hons) FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts, Chartered Accountants

8. PENSION COMMITMENTS

During the year the company made pension contributions totalling £17,844 (2022: £17,245). At the year end the company owed £1,905 (2022: £3,043) to the pension fund.

9. ULTIMATE PARENT COMPANY

Peha Houdstermaatschappij B.V. (incorporated in Holland) is regarded by the director as being the company's ultimate parent company.

The registered office of the parent companu is Molendijk 108, Oudenhoorn, 3227CD. The group accounts can be found at this address.