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REGISTERED NUMBER: 01295372 (England and Wales)















Report of the Directors and

Financial Statements for the Year Ended 31 December 2023

for

Selvic Shipping Services Limited

Selvic Shipping Services Limited (Registered number: 01295372)

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










Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 4

Income Statement 8

Balance Sheet 9

Notes to the Financial Statements 10


Selvic Shipping Services Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr A Maximchuk
Mr P J Woodhouse



SECRETARY: Miss S D Clifton



REGISTERED OFFICE: Mariner House Trondheim Way
Stallingborough
Grimsby
North Lincolnshire
DN41 8FD



REGISTERED NUMBER: 01295372 (England and Wales)



SENIOR STATUTORY AUDITOR: Laura J Drew



AUDITORS: Harris Lacey and Swain
Chartered Accountants and Statutory Auditors
Suite 1
The Riverside Building
Hessle
East Yorkshire
HU13 0DZ

Selvic Shipping Services Limited (Registered number: 01295372)

Report of the Directors
for the Year Ended 31 December 2023


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

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of UK freight forwarding.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

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

Mr A Maximchuk
Mr P J Woodhouse

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing 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 of the profit or loss of the company 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 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 company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Harris Lacey and Swain, will be proposed for re-appointment at the forthcoming Annual General Meeting.


Selvic Shipping Services Limited (Registered number: 01295372)

Report of the Directors
for the Year Ended 31 December 2023

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:



Mr A Maximchuk - Director


17 September 2024

Report of the Independent Auditors to the Members of
Selvic Shipping Services Limited


Opinion
We have audited the financial statements of Selvic Shipping Services Limited (the 'company') for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet and 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 company's affairs as at 31 December 2023 and of its loss 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 company 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 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 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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.
The prior period financial statements were not audited and therefore the corresponding figures in the financial statements are unaudited. This is due to the group exceeding the audit threshold for the first time.

Report of the Independent Auditors to the Members of
Selvic Shipping Services Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in 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, or returns adequate for our audit have not been received from branches not visited by us; or
- the 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; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, 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 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 company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Selvic Shipping Services 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 identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

Audit response to risks identified
- the nature of the industry and sector, control environment and business performance including key drivers for directors' remuneration, bonus levels and performance targets
- results of our enquiries of management and their own identification and assessment of the risks of irregularities;
- any matters we identified having obtained and reviewed the companies' documentation of their policies and procedures relating to:
- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;
- the matters discussed among the audit engagement team including regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in relation to revenue deferrals. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, UK Corporate Governance Code and local tax legislation.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty.

Audit response to risks identified

Our procedures to respond to risks identified included the following:
- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
- enquiring of management concerning actual and potential litigation and claims;
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- reading minutes of meetings of those charged with governance
- obtained an understanding of provisions and held discussions with management to understand the basis of recognition or non-recognition of tax provisions; and

Report of the Independent Auditors to the Members of
Selvic Shipping Services Limited

- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit.

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.

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.




Laura J Drew (Senior Statutory Auditor)
for and on behalf of Harris Lacey and Swain
Chartered Accountants and Statutory Auditors
Suite 1
The Riverside Building
Hessle
East Yorkshire
HU13 0DZ

19 September 2024

Selvic Shipping Services Limited (Registered number: 01295372)

Income Statement
for the Year Ended 31 December 2023

Period
1.4.22
Year Ended to
31.12.23 31.12.22
Notes £    £   

TURNOVER 3,916,203 4,048,144

Cost of sales (3,604,755 ) (3,405,906 )
GROSS PROFIT 311,448 642,238

Administrative expenses (388,757 ) (190,989 )
(77,309 ) 451,249

Other operating income 75,537 1,500
OPERATING (LOSS)/PROFIT 4 (1,772 ) 452,749

Interest receivable and similar income 33 3
(LOSS)/PROFIT BEFORE TAXATION (1,739 ) 452,752

Tax on (loss)/profit (2,281 ) (80,317 )
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(4,020

)

372,435

Selvic Shipping Services Limited (Registered number: 01295372)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 82,799 76,183

CURRENT ASSETS
Debtors 6 1,633,960 1,738,756
Cash at bank and in hand 347,274 423,056
1,981,234 2,161,812
CREDITORS
Amounts falling due within one year 7 652,376 587,503
NET CURRENT ASSETS 1,328,858 1,574,309
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,411,657

1,650,492

PROVISIONS FOR LIABILITIES 8 7,799 7,614
NET ASSETS 1,403,858 1,642,878

CAPITAL AND RESERVES
Called up share capital 9 10,400 10,400
Retained earnings 1,393,458 1,632,478
SHAREHOLDERS' FUNDS 1,403,858 1,642,878

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:





Mr A Maximchuk - Director


Selvic Shipping Services Limited (Registered number: 01295372)

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


1. STATUTORY INFORMATION

Selvic Shipping Services 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.

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.

During the 2022 financial year end the company changed its year end therefore shortening the period to 9 months, compared to a full 12-month period for the 2023 financial year. Therefore, the accounts information presented will not be truly comparable between the two financial years due to the difference in periods.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on the Directors' best knowledge of the amount, events or actions, actual results ultimately differ from these estimates. The Directors do not consider there to be any material estimates and judgements.

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

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

The company recognises revenue when the significant risks and rewards of ownership have been transferred to the buyer; the amount of revenue can be measured reliably; it is probable that future economic benefits will flow to the entity and when the specific criteria relating to each of the company's sales channels have been met, as described below.

The company provides freight, transport, warehousing and logistic services, these services are provided on a time and material basis or as a fixed price contract.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 4% on cost
Plant and machinery etc - 33% on cost and 25% on reducing balance

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measured at their settlement value.


Selvic Shipping Services Limited (Registered number: 01295372)

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


2. ACCOUNTING POLICIES - continued
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.

Employer financed retirement benefit scheme
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.

The Company operates an employer financed retirement benefit scheme for the benefit of its officers, employees and their wider families, The Selvic Shipping Services Limited Employer Financed Retirement Benefit Scheme ("The Scheme").

In accordance with UITF abstract 32 "Employment Benefit Trusts and other intermediate payment arrangements the company does not include the assets and liabilities of The Scheme on its balance sheet to the extent that it considers that it will not retain any economic benefit from the assets of The Scheme and will not have control of the rights or other access to those present economic benefits.

3. EMPLOYEES AND DIRECTORS
Period
1.4.22
Year Ended to
31.12.23 31.12.22
£    £   
Wages and salaries 432,008 321,524
Social security costs 42,018 35,051
Other pension costs 25,326 18,941
499,352 375,516

Selvic Shipping Services Limited (Registered number: 01295372)

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


3. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
Period
1.4.22
Year Ended to
31.12.23 31.12.22

Management 1 2
Operations 10 10
Administration 3 3
14 15

4. OPERATING (LOSS)/PROFIT

The operating loss (2022 - operating profit) is stated after charging:

Period
1.4.22
Year Ended to
31.12.23 31.12.22
£    £   
Depreciation - owned assets 16,654 13,209

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 76,604 148,902 225,506
Additions 18,000 5,270 23,270
At 31 December 2023 94,604 154,172 248,776
DEPRECIATION
At 1 January 2023 44,750 104,573 149,323
Charge for year 2,250 14,404 16,654
At 31 December 2023 47,000 118,977 165,977
NET BOOK VALUE
At 31 December 2023 47,604 35,195 82,799
At 31 December 2022 31,854 44,329 76,183

Selvic Shipping Services Limited (Registered number: 01295372)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 671,284 830,911
Other debtors 962,676 907,845
1,633,960 1,738,756

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 624,347 492,699
Taxation and social security 15,386 90,501
Other creditors 12,643 4,303
652,376 587,503

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 7,799 7,614

Deferred
tax
£   
Balance at 1 January 2023 7,614
Provided during year 185
Balance at 31 December 2023 7,799

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
10,000 Ordinary 1 10,000 10,000
100 Ordinary A 1 100 100
100 Ordinary B 1 100 100
100 Ordinary C 1 100 100
100 Ordinary D 1 100 100
10,400 10,400

Selvic Shipping Services Limited (Registered number: 01295372)

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


10. RELATED PARTY DISCLOSURES

Selvic Handling & Warehousing Limited
A company in which M9 Logistics Limited owns the entire issued share capital. During the year the company made sales amounting to £nil (2022: £nil). The company also made purchases of £333,333 (2022: £250,000). There were also intercompany transactions totalling £93,620 (2022: £49,649). At 31st December 2023 there was an aggregate of £695,953 (2022: £754,000) due from Selvic Handling & Warehousing Limited. The intercompany balance totalling £862,620 (2022: £769,000) is included within other debtors.

During the year the company made sales to A & D Freight Limited, a fellow subsidiary undertaking amounting to £885 (2022: £2,374). The company also made purchases from A & D Freight Limited of £27,014 (2022: £3,808). At 31st December 2023 there was an aggregate of £6,030 (2022: £1,034) due to A & D Freight Limited.

During the year the company made sales to M9 Logistics BV, a fellow subsidiary undertaking amounting to £6,937 (2022: £569). The company also made purchases from M9 Logistics BV of £nil (2022: £18,462). At 31st December 2023 there was an aggregate of £375 (2022: -£1,050) due from M9 Logistics BV.

During the year the company made sales to M9 Logistics AHMEDABAD PVT LTD, a fellow subsidiary undertaking amounting to £230 (2022: £nil). The company also made purchases from M9 Logistics AHMEDABAD PVT LTD of £nil (2022: £nil). At 31st December 2023 there was an aggregate of £230 (2022: £nil) due from M9 Logistics AHMEDABAD PVT LTD.

During the year the company made sales to M9 Logistics Limited, an entity with a majority shareholding in Selvic Shipping Services Limited, amounting to £nil (2022: £nil). The company also made purchases from M9 Logistics Limited of £107,357 (2022: £nil). At 31st December 2023 there was an aggregate of £15,200 (2022: £nil) due to M9 Logistics Limited.

During the year the company made sales to M9 Logistics GBMH, a fellow subsidiary undertaking amounting to £8,909 (2022: £9,136). The company also made purchases from M9 Logistics GBMH of £5,986 (2022: £nil). At 31st December 2023 there was an aggregate of £nil (2022: £6,704) due from M9 Logistics GBMH.

During the year the company made sales to Shenzen M9 Logistics, a fellow subsidiary undertaking amounting to £723 (2022: £12,000). The company also made purchases from Shenzen M9 Logistics of £nil (2022: £nil). At 31st December 2023 there was an aggregate of £nil (2022: £8,400) due from Shenzen M9 Logistics.

During the year the company made sales to M9 Logistics NY INC, a fellow subsidiary undertaking amounting to £165 (2022: £nil). The company also made purchases from M9 Logistics NY INC of £nil (2022: £nil). At 31st December 2023 there was an aggregate of £nil (2022: £nil) due from M9 Logistics NY INC.

During the year the company made sales to M9 Logistics CZ S.R.O., a fellow subsidiary undertaking amounting to £3,656 (2022: £nil). The company also made purchases from M9 Logistics CZ S.R.O. of £nil (2022: £nil). At 31st December 2023 there was an aggregate of £nil (2022: £nil) due from M9 Logistics CZ S.R.O..

During the year the company made sales to Mnine Logistics FZCO, a fellow subsidiary undertaking amounting to £862 (2022: £nil). The company also made purchases from Mnine Logistics FZCO of £nil (2022: £nil). At 31st December 2023 there was an aggregate of £nil (2022: £nil) due from Mnine Logistics FZCO.

During the year the company made sales to M9 Logistics TIC Ltd STI, a fellow subsidiary undertaking amounting to £398 (2022: £nil). The company also made purchases from M9 Logistics TIC Ltd STI of £608 (2022: £nil). At 31st December 2023 there was an aggregate of £nil (2022: £nil) due from M9 Logistics TIC Ltd STI.

During the year the company made sales to M9 Logistics SP. Z.O.O., a fellow subsidiary undertaking amounting to £nil (2022: £nil). The company also made purchases from M9 Logistics SP. Z.O.O. of £1,672 (2022: £513). At 31st December 2023 there was an aggregate of £nil (2022: £nil) due from M9 Logistics SP. Z.O.O.

Selvic Shipping Services Limited (Registered number: 01295372)

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


11. POST BALANCE SHEET EVENTS

After the balance sheet date, a dividend of £100,000 was declared in respect of profits earned.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M9 Logistics Limited.