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REGISTERED NUMBER: 07145152 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

HOLLYPORT LOGISTICS LIMITED

HOLLYPORT LOGISTICS LIMITED (REGISTERED NUMBER: 07145152)






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


HOLLYPORT LOGISTICS LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: Mr G M Gillo
Mr M Wallis LLB FCILT





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: 07145152 (England and Wales)





AUDITORS: Raffingers LLP, Statutory Auditor
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

HOLLYPORT LOGISTICS LIMITED (REGISTERED NUMBER: 07145152)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,566 450

CURRENT ASSETS
Debtors 5 754,935 270,001
Cash at bank 284,703 569,577
1,039,638 839,578
CREDITORS
Amounts falling due within one year 6 152,677 229,817
NET CURRENT ASSETS 886,961 609,761
TOTAL ASSETS LESS CURRENT
LIABILITIES

891,527

610,211

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 881,527 600,211
SHAREHOLDERS' FUNDS 891,527 610,211

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 13 August 2024 and were signed on its behalf by:





Mr M Wallis LLB FCILT - Director


HOLLYPORT LOGISTICS LIMITED (REGISTERED NUMBER: 07145152)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Hollyport 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.

Critical accounting judgements and key sources of estimation uncertainty
Estimates and judgments 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. The items in the financial statements where these judgements and estimates have been made include:

-assessing the useful economic lives attributed to tangible fixed assets used to determine the annual depreciation charge, and

- the provision required for any bad or doubtful debts.

Turnover
Turnover represents the invoiced value of services supplied to external customers, excluding value added tax. Turnover is recognised and a debtor recorded as accrued income once all obligations under the sales order have been performed.

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 - 33% on cost
Fixtures and fittings - 33% on cost
Computer equipment - 33% on cost

Depreciation methods, useful lives and residual values are reviewed if there is an indication of a significant change since last annual reporting date in the pattern by which the company expects to consume an asset's future economic benefits.

Financial instruments
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow Group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.


HOLLYPORT LOGISTICS LIMITED (REGISTERED NUMBER: 07145152)

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.

Pension costs and other post-retirement benefits
The entity operates a defined contribution pension scheme. A defined contribution plan is a post-employment benefit plan under which the company pays fixed contributions into a separate entity and will have no legal or constructive obligation to pay further amounts. Obligations for contributions to defined contribution pension plans are recognised as an expense in the profit and loss account in the periods during which services are rendered by employees.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

HOLLYPORT LOGISTICS LIMITED (REGISTERED NUMBER: 07145152)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 628 1,175 20,997 22,800
Additions - - 4,403 4,403
At 31 December 2023 628 1,175 25,400 27,203
DEPRECIATION
At 1 January 2023 628 997 20,725 22,350
Charge for year - 74 213 287
At 31 December 2023 628 1,071 20,938 22,637
NET BOOK VALUE
At 31 December 2023 - 104 4,462 4,566
At 31 December 2022 - 178 272 450

The company has opted for a policy of not revaluing its tangible fixed assets. Additions in subsequent years are stated at cost initially and subsequently measured at cost, net of depreciation and any impairment losses.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 163,833 259,481
Amounts owed by group undertakings 575,145 -
Other debtors 15,957 10,520
754,935 270,001

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 13
Trade creditors 27,173 83,008
Taxation and social security 20,359 51,003
Other creditors 105,145 95,793
152,677 229,817

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

The Report of the Auditors was unqualified.

Paul Dell (Senior Statutory Auditor)
for and on behalf of Raffingers LLP, Statutory Auditor

8. 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.

HOLLYPORT LOGISTICS LIMITED (REGISTERED NUMBER: 07145152)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

9. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

10. AUDITOR LIABILITY LIMITATION AGREEMENT

The company has entered into a liability limitation agreement with Raffingers, the statutory auditor, in respect of the statutory audit for the year ended 31 December 2023. The proportionate liability agreement follows the standard terms in Appendix B to the Financial Reporting Council's June 2008 Guidance on Auditor Liability Agreements, and was approved by the members on 21 January 2024.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J A Harvey.