REGISTERED NUMBER: |
EXOTEC LOGISTICS UK LTD |
Financial Statements for the Year Ended 31 December 2023 |
REGISTERED NUMBER: |
EXOTEC LOGISTICS UK LTD |
Financial Statements for the Year Ended 31 December 2023 |
EXOTEC LOGISTICS UK LTD (Registered number: 14163587) |
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 | to | 7 |
EXOTEC LOGISTICS UK LTD |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
INDEPENDENT AUDITORS: |
Statutory Auditor |
15 Westferry Circus |
Canary Wharf |
London |
E14 4HD |
EXOTEC LOGISTICS UK LTD (Registered number: 14163587) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Share capital | 6 |
Profit and loss account | 7 | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
In accordance with Section 444 of the Companies Act 2006, the Statement of comprehensive Income has not been delivered. |
The financial statements were approved by the board of the director and authorised for issue on |
EXOTEC LOGISTICS UK LTD (Registered number: 14163587) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | GENERAL INFORMATION |
Exotec Logistics Uk Ltd is a private company, limited by shares, registered in England and |
Wales. The company's registered number can be found on the Company Information page. The registered office address is 8t floor south, 11 old Jewry, London, EC2R 8DU |
2. | ACCOUNTING POLICIES |
2.1 Basis of preparing the financial statements |
All amounts are rounded to the nearest £. |
The following principal accounting policies have been applied: |
This information is included in the consolidated financial statements of Exotec SAS as at |
31 December 2023 and these financial statements may be obtained from 251 Rue Jean Monnet, Croix, France, 59170. |
2.2 Consolidated financial statements |
The Company is a wholly owned subsidiary of Exotec SAS. It is a parent entity itself with a |
subsidiary detailed in note 11. |
This entity and its subsidiaries are included in the consolidated financial statements of Exotec SAS. |
2.3 Going concern |
The director has a reasonable expectation that the Company has adequate resources |
to continue in operational existence for the foreseeable future and as such, consider it appropriate to prepare financial statements on the going concern basis. |
2.4 Financial reporting standard 102 - reduced disclosure exemptions |
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": |
EXOTEC LOGISTICS UK LTD (Registered number: 14163587) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
2.5 Turnover |
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all the following conditions are met: |
• the amount of revenue can be measured reliably; |
• It is probable the the Company will receive the consideration due under the contract; |
• the stage of completion of contract at the end of the reporting period can be measured reliably; and |
• the costs incurred and the costs to complete the contract can be measured reliably. |
Revenue for the sale of goods is recognised upon delivery. |
2.6 Financial instruments |
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ |
and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial |
instruments. Financial instruments are recognised in the company's balance sheet when |
the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial |
statements, when there is a legally enforceable right to set off the recognised amounts and |
there is an intention to settle on a net basis or to realise the asset and settle the liability |
simultaneously. |
2.7 Creditors |
Trade creditors are obligations to pay for goods or services that have been acquired in the |
ordinary course of business from suppliers. Amounts payable are classified as current |
liabilities if payment is due within one year or less. If not, they are presented as non-current |
liabilities. Trade creditors are recognised initially at transaction price and subsequently |
measured at amortised cost using the effective interest method. |
2.8 Cash and cash equivalent |
Cash and cash equivalents are basic financial instruments and include cash in hand,and deposit held at all in bank |
2.9 Debtors |
Trade debtors are receivable at various dates over the coming months in accordance with the customary credit terms. |
2.10 Finance cost |
This relates to the interest payable by the company during the year end. |
2.11 Finance income |
This relates to the interest receivable by the company on amounts lent to group undertakings. |
2.12 Pension costs |
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. |
EXOTEC LOGISTICS UK LTD (Registered number: 14163587) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
2.13 Foreign currencies translation |
• Functional and presentational currency. |
The Company's functional and presentational currency is GBP. |
• Transactions and balances |
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. |
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. |
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents |
are presented in the Statement of Comprehensive Income within 'finance income or costs'. |
All other foreign exchange gains and losses are presented in the Statement of Comprehensive Income within 'administrative expenses'. |
2.14 Taxation |
Taxation for the period 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
VAT |
Accrued income and prepayments |
The net amounts being the amounts owed by group undertakings pertains to intercompany loan with Exotec SAS subject to 1-month Euribor rate plus 2% per annum. |
EXOTEC LOGISTICS UK LTD (Registered number: 14163587) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
Other creditors |
Accruals |
Accruals and deferred income |
The net amounts being the amounts owed by group undertakings pertains to intercompany loan with Exotec SAS subject to 1-month Euribor rate plus 2% per annum. |
6. | SHARE CAPITAL |
Allotted, and fully paid: |
Number: Class: Nominal 31.12.23 31.12.22 |
value: £ £ |
25,000 Ordinary £1 25,000 25,000 |
There is a simple class of ordinary share. There are no restrictions on the distribution of dividends and the repayment of capital. |
7. | RESERVES |
Capital Contribution |
The contribution from parent comprises capital contributions made by the parent to the Company. |
Profit and loss account |
The profit and loss account comprises of profit and losses that have accumulated year-on-year since the Company began trading. |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Auditors' Report was unqualified. |
for and on behalf of |
9. | 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. |
EXOTEC LOGISTICS UK LTD (Registered number: 14163587) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
10. | ULTIMATE CONTROLLING PARTY |
The immediate parent company is EXOTEC SAS, a company registered in France whose registered address is 251 Rue Jean Monnet, Croix, France, 59170. |