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Registered number: 08506037
LOTTE GLOBAL LOGISTICS (UK) HOLDINGS CO., LTD.
Strategic Report, Directors' Report and
Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Strategic Report 1
Directors' Report 2—3
Independent Auditor's Report 4—7
Statement of Income and Retained Earnings 8
Statement of Financial Position 9
Statement of Cash Flows 10
Notes to the Statement of Cash Flows 11
Notes to the Financial Statements 12—18
Page 1
Strategic Report
The directors present their strategic report for the year ended 31 December 2024.
Review of the Business
The amounts included in the income statement relate to the company's activity as a holding company. The directors do not anticipate any material change in either the type or level of activity and financial position of the company. 
Principal Risks and Uncertainties
The main risk facing the company is a deterioration in the recoverable amount of its investment in subsidiary undertakings, which reflects their underlying performance and future prospects. The directors assess the recoverable amounts of investments annually or when indicators of impairment exist, by performing an impairment test annually, comparing for each investment the recoverable amount with its carrying value as reported by the financial statements of each subsidiary. Where there is an impairment loss, the carrying value is reduced to the recoverable amount.
Market risk
The company has some exposure to currency risk. The movement in the applicable exchange rate will lead to an exchange gain or loss but is not considered to be significant.
Credit risk
The company does not have any significant concentration of credit risk. The company's principal assets are investments and bank balances and therefore the directors consider credit risk to be insignificant.
Liquidity risk
Th exposure to liquidity risk is low as the company has no significant credit risks and the directors keep close control over liquid funds.
Cash flow interest rate risk
The exposure to cash flow interest rate risk is low as the company does not have any external loans and any interest income is not significant.
Key performance indicators          
The directors believe that analysis using key performance indicators for this investment company is not necessary or appropriate for an understanding of the development, performance or financial position of the company's business.       
On behalf of the board
Ms Yujin Hwang
Director
27/01/2025
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 31 December 2024.
Principal Activity
The company's principal activity continues to be that of an investment holding company. The company has not traded during the year or prior years and the only amounts in the income statement relate to the company's activity as a holding company. 
Directors
The directors who held office during the year were as follows:
Mr Myungho Choi Resigned 23/10/2024
Ms Yujin Hwang
Mr Gong Su Kim
Mr Jaebeom Kwon Appointed 01/11/2024
Post Balance Sheet Events
There are no events after the balance sheet date which requires disclosure. 
Going concern
The directors have tested the going concern assumption in preparing the financial statements and ensured that the company has adequate resources to continue its operations for the foreseeable future and meet all financial obligations as they fall due.
Statement of Directors' Responsibilities
The directors are responsible for preparing the Strategic Report, the Directors' Report 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, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', 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 the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
  • 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.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Page 2
Page 3
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Directors' Report is approved: 
  • so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
  • they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
Independent Auditors
The auditors, Pitts & Seeus, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.
On behalf of the board
Ms Yujin Hwang
Director
27/01/2025
Page 3
Page 4
Independent Auditor's Report
Opinion
We have audited the financial statements of LOTTE GLOBAL LOGISTICS (UK) HOLDINGS CO., LTD. for the year ended 31 December 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position, Statement of Cash Flows and the related notes, 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:
  • give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit/(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 Auditor's 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 entity's ability to continue as a going concern for a period of at least 12 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 other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 
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.
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Page 5
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 Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
  • the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.
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 Strategic Report or the Directors' Report.
We have nothing to report in respect of the following matters in relation to which 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 or 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 Directors' Responsibilities Statement set out on page 2—3, 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 is 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.
Page 5
Page 6
Auditor's 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 an auditor's report 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: 
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. 
We considered the nature of the company’s industry and its control environment and the company’s documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks of irregularities. 
We obtained an understanding of the legal and regulatory frameworks that the company operates in, and identified the key laws and regulations that:
• had a direct effect on the determination of material amounts and disclosures in the financial statements. These included the UK companies Act and tax legislation; and
• 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.
We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.
In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journals and other adjustments; we assessed whether the judgements used in making accounting estimates are indicative of a potential bias; and we evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.
In addition to the above, our procedures to respond to the risks identified included reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; enquiring of management concerning actual and potential litigations and claims, and instances of non-compliance with laws and regulations; and reading minutes of meetings of those charged with governance.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non- compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. 
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Page 6
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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 that we are required to state to them in an auditor's report 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.
Anil Seechurn (FCCA,ACA,CTA) (Senior Statutory Auditor)
for and on behalf of Pitts & Seeus , Statutory Auditor
28/01/2025
Pitts & Seeus
Chartered Certified Accountants
Studio 6, 6 Hornsey Street
London
N7 8GR
Page 7
Page 8
Statement of Income and Retained Earnings
2024 2023
Notes £ £
Administrative expenses (12,748 ) (9,578 )
OPERATING LOSS 3 (12,748 ) (9,578 )
Loss on revaluation of investments (332,456 ) -
Income from Shares in group undertakings 421,812 800,000
Other interest receivable and similar income 6 - 2,247
PROFIT FOR THE FINANCIAL YEAR 76,608 792,669
RETAINED EARNINGS
As at 1 January 2024 (791,968 ) (1,584,637 )
As at 31 December 2024 (715,360 ) (791,968 )
The notes on pages 11 to 18 form part of these financial statements.
Page 8
Page 9
Statement of Financial Position
Registered number: 08506037
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 8 541 -
Investments 9 1,573,114 1,905,570
1,573,655 1,905,570
CURRENT ASSETS
Cash at bank and in hand 512,261 100,738
512,261 100,738
Creditors: Amounts Falling Due Within One Year 10 (8,000 ) (5,000 )
NET CURRENT ASSETS (LIABILITIES) 504,261 95,738
TOTAL ASSETS LESS CURRENT LIABILITIES 2,077,916 2,001,308
NET ASSETS 2,077,916 2,001,308
CAPITAL AND RESERVES
Called up share capital 11 1,574,001 1,574,001
Other reserves 1,219,275 1,219,275
Income Statement (715,360 ) (791,968 )
SHAREHOLDERS' FUNDS 2,077,916 2,001,308
On behalf of the board
Ms Yujin Hwang
Director
27/01/2025
The notes on pages 11 to 18 form part of these financial statements.
Page 9
Page 10
Statement of Cash Flows
2024 2023
Notes £ £
Cash flows from operating activities
Net cash (used in)/generated from operations 1 (9,699 ) 15,842
Net cash (used in)/generated from operating activities (9,699 ) 15,842
Cash flows from investing activities
Purchase of tangible assets (590 ) -
Purchase of investment in subsidiary undertaking - (756,464 )
Interest received - 2,247
Dividends received 421,812 800,000
Net cash generated from investing activities 421,222 45,783
Increase in cash and cash equivalents 411,523 61,625
Cash and cash equivalents at beginning of year 2 100,738 39,113
Cash and cash equivalents at end of year 2 512,261 100,738
Page 10
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Notes to the Statement of Cash Flows
1. Reconciliation of profit for the financial year to cash (used in)/generated from operations
2024 2023
£ £
Profit for the financial year 76,608 792,669
Adjustments for:
Interest income - (2,247 )
Income from shares in group undertakings (421,812) (800,000)
Depreciation of tangible assets 49 -
Loss on revaluation of fixed assets 332,456 -
Movements in working capital:
Decrease in trade and other debtors - 59,328
Increase/(decrease) in trade and other creditors 3,000 (33,908 )
Net cash (used in)/generated from operations (9,699 ) 15,842
2. Cash and cash equivalents
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:
2024 2023
£ £
Cash at bank and in hand 512,261 100,738
3. Analysis of changes in net funds
As at 1 January 2024 Cash flows As at 31 December 2024
£ £ £
Cash at bank and in hand 100,738 411,523 512,261
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Notes to the Financial Statements
1. General Information
LOTTE GLOBAL LOGISTICS (UK) HOLDINGS CO., LTD. is a private company, limited by shares, incorporated in England & Wales, registered number 08506037 . The registered office is Studio 6a, 6 Hornsey Street, London, N7 8GR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and 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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
2.2. Exemption From Preparing Consolidated Financial Statements
The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.
2.3. Going Concern Disclosure
The directors have tested the going concern assumption in preparing the financial statements and ensured that the company can continue to pay its liability as they fall due. 
The going concern assessment included reviewing the company's cashflow forecast over the next 3 years, the net current asset position, the business activity, the regulatory environment and any principal risks and uncertainties affecting the company's business model. The company does not envisage any third party debts in the foreseeable future. 
Based on the above and having closely reviewed the assumptions and current performances and forecasts, the directors remain statisfied that the company has adequate resources to continue its operations for the foreseeable future. 
2.4. Significant judgements and estimations
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
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2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 50% per annum /Straight line basis
2.6. Investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
2.7. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.8. Financial Instruments
Financial instruments are recognised in the company's statement of financial position 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
...CONTINUED
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2.8. Financial Instruments - continued
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
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.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
2.9. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.10. Taxation
Income tax expense is the sum of the current year tax and deferred tax.
Current tax charge is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
2.11. Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2.12. Revenue recognition
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. It is measured at the fair value of the consideration received or receivable. It represents income receivable from dividends on investments in group undertakings and bank interests.
3. Operating Loss
The operating loss is stated after charging:
2024 2023
£ £
Depreciation of tangible fixed assets 49 -
4. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
2024 2023
£ £
Audit Services
Audit of the company's financial statements 6,086 3,500
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5. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2024 2023
Office and administration 3 3
3 3
6. Interest Receivable and Similar Income
2024 2023
£ £
Bank interest receivable - 2,247
Dividends from shares in subsidiaries 421,812 800,000
421,812 802,247
Total interest income on financial assets not measured at fair value through profit or loss: - 2,247
7. Tax on Profit
The tax (credit)/charge on the profit for the year was as follows:
Tax Rate 2024 2023
2024 2023 £ £
Current tax
UK Corporation Tax 25.0% 19.0% - -
The actual (credit)/charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
2024 2023
£ £
Profit before tax 76,608 792,669
Tax on profit at 25% (UK standard rate) 19,152 150,607
Goodwill/depreciation not allowed for tax 12 -
Expenses not deductible for tax purposes 83,114 -
Tax losses unutilised carried forward 3,175 1,393
Dividends from companies (105,453 ) (152,000 )
Total tax charge for the period - -
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8. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2024 -
Additions 590
As at 31 December 2024 590
Depreciation
As at 1 January 2024 -
Provided during the period 49
As at 31 December 2024 49
Net Book Value
As at 31 December 2024 541
As at 1 January 2024 -
9. Investments
Subsidiaries
£
Cost
As at 1 January 2024 1,905,570
Revaluations (332,456 )
As at 31 December 2024 1,573,114
Provision
As at 1 January 2024 -
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 1,573,114
As at 1 January 2024 1,905,570
Subsidiaries
Details of the company's subsidiaries as at 31 December 2024 are as follows:
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Name of undertaking Registered Office Class of shares held Direct holding Indirect holding
Lotte Global Logistics (UK) Co., Ltd. England Ordinary 100.00% -
Lotte Global Logistics (Germany) GMBH Germany Ordinary 100.00% -
Lotte Global Logistics Hungary Kft Hungary Ordinary 100.00% -
The aggregate capital and reserves and the result for the year of the subsidiaries listed above was as follows:
Capital and Reserves Profit/(loss)
£ £
Lotte Global Logistics (UK) Co., Ltd. 250,000 (90,841 )
Lotte Global Logistics (Germany) GMBH 1,066,372 (169,801 )
Lotte Global Logistics Hungary Kft 1,306,730 317,158
Lotte Global Logistics (UK) Co., Ltd is in the process of being dissolved. 
10. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 8,000 5,000
11. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1,574,001 Ordinary Shares of £ 1.00 each 1,574,001 1,574,001
12. Post Balance Sheet Events
There were no events after the balance sheet date that require disclosure.
13. Related Party Disclosures
The company has taken advantage of exemption, under 33.1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose transactions with wholly owned subsidiaries within the group.
14. Controlling Parties
The immediate and ultimate parent undertaking of the company is Lotte Global Logistics Co., Ltd. a company incorporated in the Republic of Korea. 
Copies of the group accounts may be obtained from the parent undertaking's registered office at 10, Tongil-ro, Jung-gu, Seoul, South Korea.
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