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REGISTERED NUMBER: SC182968 (Scotland)















Financial Statements For The Year Ended 31 December 2023

for

Gerritsen Logistics UK Limited

Gerritsen Logistics UK Limited (Registered number: SC182968)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gerritsen Logistics UK Limited

Company Information
For The Year Ended 31 December 2023







DIRECTORS: W J Gerritsen
S F Gage
G J Fittes





REGISTERED OFFICE: Broomhouse Industrial Park
Dryfe Road
Lockerbie
Dumfries & Galloway
DG11 2RF





REGISTERED NUMBER: SC182968 (Scotland)





ACCOUNTANTS: Howell Dunn & Co Limited
13 Stourdale Road
Cradley Heath
West Midlands
B64 7BG

Gerritsen Logistics UK Limited (Registered number: SC182968)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 349,040 543,689

CURRENT ASSETS
Debtors 5 361,975 1,650,496
Cash at bank 61,234 228,956
423,209 1,879,452
CREDITORS
Amounts falling due within one year 6 231,123 2,015,516
NET CURRENT ASSETS/(LIABILITIES) 192,086 (136,064 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

541,126

407,625

CREDITORS
Amounts falling due after more than one
year

7

(176,990

)

(211,634

)

PROVISIONS FOR LIABILITIES (47,460 ) (3,197 )
NET ASSETS 316,676 192,794

CAPITAL AND RESERVES
Called up share capital 900 900
Capital redemption reserve 100 100
Retained earnings 315,676 191,794
SHAREHOLDERS' FUNDS 316,676 192,794

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Gerritsen Logistics UK Limited (Registered number: SC182968)

Balance Sheet - continued
31 December 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:





W J Gerritsen - Director


Gerritsen Logistics UK Limited (Registered number: SC182968)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Gerritsen Logistics UK Limited is a private company, limited by shares , registered in Scotland. 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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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 from contracts for the provision of industrial dismantling and engineering services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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


Gerritsen Logistics UK Limited (Registered number: SC182968)

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 7 ) .

Gerritsen Logistics UK Limited (Registered number: SC182968)

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

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2023 352,194 473,249 825,443
Additions 51,793 28,716 80,509
Disposals (228,355 ) (37,770 ) (266,125 )
At 31 December 2023 175,632 464,195 639,827
DEPRECIATION
At 1 January 2023 133,554 148,200 281,754
Charge for year 30,636 85,713 116,349
Eliminated on disposal (80,463 ) (26,853 ) (107,316 )
At 31 December 2023 83,727 207,060 290,787
NET BOOK VALUE
At 31 December 2023 91,905 257,135 349,040
At 31 December 2022 218,640 325,049 543,689

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 308,700
Additions 28,716
At 31 December 2023 337,416
DEPRECIATION
At 1 January 2023 77,175
Charge for year 65,060
At 31 December 2023 142,235
NET BOOK VALUE
At 31 December 2023 195,181
At 31 December 2022 231,525

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 294,748 1,609,693
Other debtors 67,227 40,803
361,975 1,650,496

Gerritsen Logistics UK Limited (Registered number: SC182968)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 59,907 49,224
Trade creditors 160,739 1,653,383
Taxation and social security - 259,889
Other creditors 10,477 53,020
231,123 2,015,516

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 176,990 211,634

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 236,897 260,858

Hire purchase liabilities are secured on the asset to which the contract relates.

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 "The Financial Reporting Standard applicable to the UK and Republic of Ireland," not to disclose related party transactions with the ultimate parent company.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Gerritsen Group UK Ltd.

The ultimate controlling party is Gerritsen Group UK Ltd.