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REGISTERED NUMBER: 09769460 (England and Wales)











Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 December 2023

for

Tuscor Lloyds Holdings Limited

Tuscor Lloyds Holdings Limited (Registered number: 09769460)






Contents of the Consolidated Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Statement of Income and Retained Earnings 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Cash Flow Statement 12

Notes to the Consolidated Cash Flow Statement 13

Notes to the Consolidated Financial Statements 14


Tuscor Lloyds Holdings Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Ms G Morgan
Mrs A M C Manrai





SECRETARY: Ms G Morgan





REGISTERED OFFICE: 16 Blackmore Road
Trafford Park
Stretford
Greater Manchester
M32 0QY





REGISTERED NUMBER: 09769460 (England and Wales)





AUDITORS: Crowther Jordan Limited
Chartered Accountants
Statutory Auditors
39 High Street
Wednesfield
Wolverhampton
West Midlands
WV11 1ST

Tuscor Lloyds Holdings Limited (Registered number: 09769460)

Group Strategic Report
for the Year Ended 31 December 2023

The directors present their strategic report of the company and the group for the year ended 31 December 2023.

REVIEW OF BUSINESS
The results for the financial year and the financial position of the group and company are shown in the annexed financial statements.

Tuscor Lloyds Holdings Limited operated throughout the year as a holding company and received rental income from property. The majority of operating income is derived from a subsidiary company, Tuscor Lloyds (UK) Limited, for use of the property.

PRINCIPAL RISKS AND UNCERTAINTIES
The key business risks and uncertainties affecting the group relate mainly to the subsidiary company, Tuscor Lloyds (UK) Limited, a specialist in the worldwide movement of freight.

This business is exposed to fluctuation in world freight indices and fluctuations in foreign exchange rates. Throughout 2023, freight levels remained largely stable but still above pre-pandemic levels. This was mainly due to a lack of new vessel tonnage not due to enter the trade until late 2024 and as a consequence of RoRo vessels remaining full of contracted cargo which pushed spot cargo onto container lines driving up demand for special equipment.

The company collects revenues mainly in GBP, USD and EUR currencies and is subject to the risk of fluctuation in exchange rates.

The success of the business is related to the movement of cargo, essential for the world trade in goods. Any slowdown in the world economy has the potential to impact on the demand for goods to be shipped.

DEVELOPMENT AND FUTURE OUTLOOK
The business has improved its ability to analyse customer support and to track performance to help the management team target any areas that require development or support. Areas related to marketing are under review to help the business communicate to its existing and potential customer bases in a digital world.
The company receives most of its work through repeat business and existing customers and a new target will be to attract new customers through our digital marketing.

CONCLUSION
The directors believe that the shipping industry will present further challenges in 2024 and that the company is well placed to meet these challenges with a strong market presence and profile enabling it to secure new business, continue the diversification of its existing customer base, and achieve improvements in debt collection. The directors are confident that the strategy they have adopted will produce steady growth in turnover and profitability in future years.

ON BEHALF OF THE BOARD:





Ms G Morgan - Director


13 September 2024

Tuscor Lloyds Holdings Limited (Registered number: 09769460)

Report of the Directors
for the Year Ended 31 December 2023

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2023.

DIVIDENDS
Interim dividends per share were paid as follows:
2500 - 6 February 2023
3750 - 3 March 2023
2500 - 12 April 2023
8750

The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2023 will be £ 35,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

Ms G Morgan
Mrs A M C Manrai

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors 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 group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that she ought to have taken as a director in order to make herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

Tuscor Lloyds Holdings Limited (Registered number: 09769460)

Report of the Directors
for the Year Ended 31 December 2023


AUDITORS
The auditors, Crowther Jordan Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Ms G Morgan - Director


13 September 2024

Report of the Independent Auditors to the Members of
Tuscor Lloyds Holdings Limited

Opinion
We have audited the financial statements of Tuscor Lloyds Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2023 which comprise the Consolidated Statement of Income and Retained Earnings, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Tuscor Lloyds Holdings Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Tuscor Lloyds Holdings Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identified areas of laws and regulation that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the directors, and other management, and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations. We communicated identified laws, and regulations through our team and remained alert to any indications of non-compliance throughout the audit. The potential effect of these laws and regulations on the financial statements varies considerably.

The Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation), pensions legislation, and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Whilst the the procedures undertaken to detect irregularities vary from audit to audit, based on the specific audit risks identified and assessed as material, the procedures may include the following:

* Enquiry of management and key staff

* Reviewing minutes of meetings

* Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

* Performing audit work over the risk of management override including testing of journals and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

In addition, the Company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on the amounts or disclosures in the financial statements, for instance through the imposition of fines. We identified the following areas as those most likely to have such an effect: health and safety, General Data Protection Regulation (GDP), fraud, bribery and corruption and employment law. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. The identified actual or suspected non-compliance was not sufficiently significant to our audit to result in our response being identified as a key audit matter.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Tuscor Lloyds Holdings Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Stephen Gray, BSc, FCA (Senior Statutory Auditor)
for and on behalf of Crowther Jordan Limited
Chartered Accountants
Statutory Auditors
39 High Street
Wednesfield
Wolverhampton
West Midlands
WV11 1ST

13 September 2024

Tuscor Lloyds Holdings Limited (Registered number: 09769460)

Consolidated Statement of Income and Retained Earnings
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   

TURNOVER 27,340,597 28,829,247

Cost of sales (21,710,164 ) (23,992,891 )
GROSS PROFIT 5,630,433 4,836,356

Administrative expenses (3,961,067 ) (2,904,534 )
1,669,366 1,931,822

Other operating income - 149,211
OPERATING PROFIT 4 1,669,366 2,081,033

Interest receivable and similar income 26,447 2,450
1,695,813 2,083,483

Interest payable and similar expenses 5 (265 ) -
PROFIT BEFORE TAXATION 1,695,548 2,083,483

Tax on profit 6 (421,274 ) (404,540 )
PROFIT FOR THE FINANCIAL YEAR 1,274,274 1,678,943

Retained earnings at beginning of year 5,410,041 3,783,098

Dividends 8 (35,000 ) (52,000 )

RETAINED EARNINGS FOR THE GROUP AT
END OF YEAR

6,649,315

5,410,041

Profit attributable to:
Owners of the parent 1,274,274 1,678,943

Tuscor Lloyds Holdings Limited (Registered number: 09769460)

Consolidated Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 9 1,214,518 1,132,261
Investments 10 - -
1,214,518 1,132,261

CURRENT ASSETS
Debtors 11 3,287,826 3,644,568
Cash at bank and in hand 5,781,362 4,199,986
9,069,188 7,844,554
CREDITORS
Amounts falling due within one year 12 (3,593,619 ) (3,535,675 )
NET CURRENT ASSETS 5,475,569 4,308,879
TOTAL ASSETS LESS CURRENT LIABILITIES 6,690,087 5,441,140

PROVISIONS FOR LIABILITIES 13 (40,767 ) (31,094 )
NET ASSETS 6,649,320 5,410,046

CAPITAL AND RESERVES
Called up share capital 14 4 4
Capital redemption reserve 15 1 1
Retained earnings 15 6,649,315 5,410,041
SHAREHOLDERS' FUNDS 6,649,320 5,410,046

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by:





Ms G Morgan - Director


Tuscor Lloyds Holdings Limited (Registered number: 09769460)

Company Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 9 796,767 807,344
Investments 10 4 4
796,771 807,348

CURRENT ASSETS
Debtors 11 27,339 19,729
Cash at bank 2,599,062 2,630,314
2,626,401 2,650,043
CREDITORS
Amounts falling due within one year 12 (14,829 ) (40,904 )
NET CURRENT ASSETS 2,611,572 2,609,139
TOTAL ASSETS LESS CURRENT LIABILITIES 3,408,343 3,416,487

CAPITAL AND RESERVES
Called up share capital 14 4 4
Retained earnings 15 3,408,339 3,416,483
SHAREHOLDERS' FUNDS 3,408,343 3,416,487

Company's profit for the financial year 26,856 784,046

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by:





Ms G Morgan - Director


Tuscor Lloyds Holdings Limited (Registered number: 09769460)

Consolidated Cash Flow Statement
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,240,362 1,211,485
Interest paid (265 ) -
Tax paid (463,565 ) (240,321 )
Net cash from operating activities 1,776,532 971,164

Cash flows from investing activities
Purchase of tangible fixed assets (326,158 ) (151,707 )
Sale of tangible fixed assets 116,110 51,771
Interest received 26,447 2,450
Net cash from investing activities (183,601 ) (97,486 )

Cash flows from financing activities
Increase in related party balances 13,715 11,560
Amount introduced by directors 17,340 9,608
Amount withdrawn by directors (7,610 ) (9,730 )
Equity dividends paid (35,000 ) (52,000 )
Net cash from financing activities (11,555 ) (40,562 )

Increase in cash and cash equivalents 1,581,376 833,116
Cash and cash equivalents at beginning of
year

2

4,199,986

3,366,870

Cash and cash equivalents at end of year 2 5,781,362 4,199,986

Tuscor Lloyds Holdings Limited (Registered number: 09769460)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 December 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
31.12.23 31.12.22
£    £   
Profit before taxation 1,695,548 2,083,483
Depreciation charges 152,631 121,995
Profit on disposal of fixed assets (24,840 ) (16,303 )
Finance costs 265 -
Finance income (26,447 ) (2,450 )
1,797,157 2,186,725
Decrease/(increase) in trade and other debtors 347,012 (1,039,270 )
Increase in trade and other creditors 96,193 64,030
Cash generated from operations 2,240,362 1,211,485

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 5,781,362 4,199,986
Year ended 31 December 2022
31.12.22 1.1.22
£    £   
Cash and cash equivalents 4,199,986 3,366,870


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.23 Cash flow At 31.12.23
£    £    £   
Net cash
Cash at bank and in hand 4,199,986 1,581,376 5,781,362
4,199,986 1,581,376 5,781,362
Total 4,199,986 1,581,376 5,781,362

Tuscor Lloyds Holdings Limited (Registered number: 09769460)

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

1. STATUTORY INFORMATION

Tuscor Lloyds Holdings 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation
The accompanying financial statements and related notes present the consolidated financial position as of 31 December 2022 and the consolidated results of the operations and cash flows. All significant intercompany transactions have been eliminated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - in accordance with the property
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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.

Tuscor Lloyds Holdings Limited (Registered number: 09769460)

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

2. ACCOUNTING POLICIES - continued

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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS
31.12.23 31.12.22
£    £   
Wages and salaries 2,484,307 1,852,393
Social security costs 322,817 245,523
Other pension costs 102,887 89,787
2,910,011 2,187,703

The average number of employees during the year was as follows:
31.12.23 31.12.22

Management 4 4
Administration 12 12
Sales 12 12
28 28

The average number of employees by undertakings that were proportionately consolidated during the year was 28 (2022 - 28 ) .

31.12.23 31.12.22
£    £   
Directors' remuneration 239,296 507,053
Directors' pension contributions to money purchase schemes 12,955 13,840

Information regarding the highest paid director is as follows:
31.12.23 31.12.22
£    £   
Emoluments etc 129,546 424,350
Pension contributions to money purchase schemes 12,955 4,800

Tuscor Lloyds Holdings Limited (Registered number: 09769460)

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

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.12.23 31.12.22
£    £   
Hire of plant and machinery 1,326 1,712
Depreciation - owned assets 152,631 121,995
Profit on disposal of fixed assets (24,840 ) (16,303 )
Auditors' remuneration 12,500 11,000
Foreign exchange differences - (149,211 )

5. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.23 31.12.22
£    £   
HMRC - interest & penalties 265 -

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.12.23 31.12.22
£    £   
Current tax:
UK corporation tax 411,601 413,606

Deferred tax 9,673 (9,066 )
Tax on profit 421,274 404,540

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.23 31.12.22
£    £   
Profit before tax 1,695,548 2,083,483
Profit multiplied by the standard rate of corporation tax in the UK of
23.521 % (2022 - 19 %)

398,810

395,862

Effects of:
Expenses not deductible for tax purposes 16,800 11,467
Capital allowances in excess of depreciation (4,009 ) -
Depreciation in excess of capital allowances - 6,277
Deferred Tax 9,673 (9,066 )
Total tax charge 421,274 404,540

Tuscor Lloyds Holdings Limited (Registered number: 09769460)

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

7. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.


8. DIVIDENDS
31.12.23 31.12.22
£    £   
Ordinary shares of £1 each
Interim 35,000 52,000

9. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 881,383 231,658 504,187 256,969 1,874,197
Additions - 15,824 303,780 6,554 326,158
Disposals - - (200,597 ) - (200,597 )
At 31 December 2023 881,383 247,482 607,370 263,523 1,999,758
DEPRECIATION
At 1 January 2023 74,039 207,866 221,713 238,318 741,936
Charge for year 10,577 9,903 123,749 8,402 152,631
Eliminated on disposal - - (109,327 ) - (109,327 )
At 31 December 2023 84,616 217,769 236,135 246,720 785,240
NET BOOK VALUE
At 31 December 2023 796,767 29,713 371,235 16,803 1,214,518
At 31 December 2022 807,344 23,792 282,474 18,651 1,132,261

Tuscor Lloyds Holdings Limited (Registered number: 09769460)

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

9. TANGIBLE FIXED ASSETS - continued

Company
Freehold
property
£   
COST
At 1 January 2023
and 31 December 2023 881,383
DEPRECIATION
At 1 January 2023 74,039
Charge for year 10,577
At 31 December 2023 84,616
NET BOOK VALUE
At 31 December 2023 796,767
At 31 December 2022 807,344

10. FIXED ASSET INVESTMENTS

Company
Unlisted
investments
£   
COST
At 1 January 2023
and 31 December 2023 4
NET BOOK VALUE
At 31 December 2023 4
At 31 December 2022 4

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Tuscor Lloyds (UK) Limited
Registered office: 16 Blackmore Road, Stretford, Manchester. M32 0QY
Nature of business: Freight
%
Class of shares: holding
Ordinary 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 3,240,979 1,993,560
Profit for the year 1,247,419 1,564,897

Tuscor Lloyds Holdings Limited (Registered number: 09769460)

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

10. FIXED ASSET INVESTMENTS - continued

Tuscor Lloyds Limited
Registered office: 16 Blackmore Road, Stretford, Manchester. M32 0QY
Nature of business: Non Trading
%
Class of shares: holding
Ordinary 100.00


11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.23 31.12.22 31.12.23 31.12.22
£    £    £    £   
Trade debtors 3,141,601 3,523,158 - -
Amounts owed by group undertakings - - 27,339 9,999
Amounts owed by participating interests 3,160 3,160 - -
Other debtors 19,582 18,355 - -
Directors' loan accounts - 9,730 - 9,730
VAT 118,933 84,615 - -
Prepayments 4,550 5,550 - -
3,287,826 3,644,568 27,339 19,729

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.23 31.12.22 31.12.23 31.12.22
£    £    £    £   
Trade creditors 3,082,760 3,115,064 - -
Amounts owed to participating interests 15,638 1,923 - -
Tax 211,558 263,522 11,329 29,193
VAT - - - 8,211
Other creditors 37,813 6,046 - -
Accrued expenses 245,850 149,120 3,500 3,500
3,593,619 3,535,675 14,829 40,904

13. PROVISIONS FOR LIABILITIES

Group
31.12.23 31.12.22
£    £   
Deferred tax
Accelerated capital allowances 40,767 31,094

Tuscor Lloyds Holdings Limited (Registered number: 09769460)

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

13. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1 January 2023 31,094
Charge to Statement of Comprehensive Income during year 9,673
Balance at 31 December 2023 40,767

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
4 Ordinary £1 4 4

15. RESERVES

Group
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 January 2023 5,410,041 1 5,410,042
Profit for the year 1,274,274 1,274,274
Dividends (35,000 ) (35,000 )
At 31 December 2023 6,649,315 1 6,649,316

Company
Retained
earnings
£   

At 1 January 2023 3,416,483
Profit for the year 26,856
Dividends (35,000 )
At 31 December 2023 3,408,339


Tuscor Lloyds Holdings Limited (Registered number: 09769460)

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

16. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
Mrs A M C Manrai
Balance outstanding at start of year 9,730 9,608
Amounts advanced - 9,730
Amounts repaid (9,730 ) (9,608 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 9,730

17. RELATED PARTY DISCLOSURES

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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.