Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2024
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SCAN GLOBAL LOGISTICS (UK) LTD
COMPANY INFORMATION
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SCAN GLOBAL LOGISTICS (UK) LTD
CONTENTS
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SCAN GLOBAL LOGISTICS (UK) LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their Strategic report for the year ended 31 December 2024.
The company's turnover increased by 24.23% to £57,679,397 (2023 - £46,429,051) whilst the company generated profit after tax for the year of £3,980,160, an increase of 11.09% (2023 - £3,582,619) through effective resource and cost management controls.
The company aim was to maintain business and market share in an incredibly aggressive market and gain new customers through effective sales and the benefits of the global network. The ocean activities were particularly impacted by the significant change in market conditions, although airfreight was also affected financially. The economic and market outlook in the UK remains positive, and we therefore expect to grow the business in the coming years through excellent service to customers, competitive pricing and capitalising on the growing global infrastructure to create a strong competitive advantage. Principal risks and uncertainties The company operates a lowly geared model, and its main financial instrument is cash. The company has various other financial instruments such as trade debtors and trade creditors which arise directly from its operations. The company monitors its use of financial instruments and the risks that may arise on an ongoing basis. The main risks for financial instruments are detailed below. The company reviews and agrees policies for managing the risks detailed below to minimise exposure. Foreign exchange risk The company is subject to foreign exchange risk on some of its transactions. This is managed in accordance with its business activity. Credit risk The company only trades with recognised, creditworthy third parties. In addition to receivable balances are monitored on an ongoing basis with the result that the company's exposure to bad debts is not significant. Cash flow risk The Board continually monitors the cash requirements of the company to ensure that the company has ready access to the funds that the board deem necessary at any time during the year. The monitoring and review of future projections by the board ensures that there are adequate facilities readily available from the company's finance providers to support the company's cash flow requirements. The above factors represent the primary challenges the company must overcome to improve its financial performance.
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SCAN GLOBAL LOGISTICS (UK) LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
As the Board of Scan Global Logistics (UK) Ltd, we have a legal responsibility under section 172 of the Companies Act 2006 to act in the way we consider, in good faith, would be most likely to promote the group's success for the benefit of its members as a whole, and to have regard to the long-term effect of our decisions on the company and its stakeholders, and in doing so have regard (amongst other matters) to:
The directors have considered the reputation of the company with customers, employees and suppliers in their everyday decision making. The directors have taken into account the financial returns of future business and the best inetersts of the company when making strategic decisions. The directors carefully consider the consequences of all projects, ensuring they are fully planned and costed, taking account of the potential financial returns as well as the wider impacts on the business and the environment. In addition, the company's operations continually strive for the minimum environmental impact.
The directors consider the key performance indicators of the company to be turnover and gross profit.
The company's turnover for the financial year was £57,679,397 (2023 - £46,429,051). The company's gross profit for the financial year was £10,234,240 (2023 - £9,501,979).
This report was approved by the board on 26 February 2025 and signed on its behalf.
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SCAN GLOBAL LOGISTICS (UK) LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards 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 to 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.
Going concern
The financial statements have been prepared on a going concern basis. The directors have considered the factors that impact the company’s future development, performance, cash flows and financial position in forming their opinion on the going concern basis. The directors believe that the company has adequate resources to continue to operate and meet its obligations as they fall due for the foreseeable future and therefore the use of the going concern assumption remains appropriate.
The profit for the year, after taxation, amounted to £3,980,160 (2023 - £3,582,619).
During the year, the company paid £16,500,000 in dividends (2023 - £Nil).
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SCAN GLOBAL LOGISTICS (UK) LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors who served during the year were:
Matters covered in the Strategic report The company has chosen in accordance with section 414C of the Companies Act 2006, to set out the following information, otherwise be required to be in the Directors' report, within the Strategic report; financial risk management, and future developments in the business. Statement of carbon emissions in compliance with Streamlined Energy and Carbon Reporting (“SECR”) Here follows the SECR covering energy use and associated greenhouse gas emissions relating to gas, electricity and transport, intensity ratios and information relating to energy efficiency actions. Current reporting year Total electricity use 275,876 kWh Total gas use 0 kWh Total transport fuel 140,273 kWh Total energy from other sources 51,748 kWh Total energy use (all sources) 467,897 kWh Total carbon emissions (electricity) 57 tCO2e Total carbon emissions (gas) 0 tCO2e Total carbon emissions (transport fuel) 37 tCO2e Total carbon emissions (WTT) 24 tCO2e Total carbon emissions (T&D) 5 tCO2e Total carbon emissions (other sources) 11 tCO2e Total carbon emissions 134 tCO2e Total estate 98,229 sqft Carbon intensity ratio 1.36 kgCO2e per sqft
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SCAN GLOBAL LOGISTICS (UK) LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Total electricity use 298,418 kWh
Total gas use 3,989 kWh Total transport fuel 202,638 kWh Total energy from other sources 46,327 kWh Total energy use (all sources) 551,372 kWh Total carbon emissions (electricity) 62 tCO2e Total carbon emissions (gas) 1 tCO2e Total carbon emissions (transport fuel) 48 tCO2e Total carbon emissions (WTT) 28 tCO2e Total carbon emissions (T&D) 5 tCO2e Total carbon emissions (other sources) 10 tCO2e Total carbon emissions 154 tCO2e Total estate 114,956 sqft Carbon intensity ratio 1.34 kgCO2e per sqft Carbon and energy efficiency actions We are committed to responsible carbon management and will practise energy efficiency throughout our organisation, wherever it's cost effective. We recognise that climate change is one of the most serious environmental challenges currently threatening the global community and we understand we have a role to play in reducing greenhouse gas emissions. We have implemented the policies below for the purpose of increasing the business energy efficiency in the relevant financial year. o Implemented hybrid working. o Encouraged online meetings. o Reduced travel. Methodology used in the calculation of disclosures ESOS methodology (as specified in Complying with the Energy Savings Opportunity Scheme version 6, published by the Environment agency, 21.01.21) used in conjunction with Government GHG reporting conversion factors. For carbon only related matters, the SECR methodology as specified in "Environmental reporting guidelines: including Streamlined Energy and Carbon Reporting and greenhouse gas reporting" was used in conjunction with Government GHG reporting conversion factors. https://assets.publishing .service.gov.uk /government/uploads /system/uploads/attachment_data /file/850130 /Env-reporting -guidance_inc_SECR_31March .pdf
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SCAN GLOBAL LOGISTICS (UK) LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
There are no subsequent events that require disclosure or adjustments to the financial statements.
The auditors, Barnes Roffe LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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SCAN GLOBAL LOGISTICS (UK) LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SCAN GLOBAL LOGISTICS (UK) LTD
We have audited the financial statements of Scan Global Logistics (UK) Ltd (the 'Company') for the year ended 31 December 2024, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity 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, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
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 United Kingdom, including the Financial Reporting Council'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.
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.
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SCAN GLOBAL LOGISTICS (UK) LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SCAN GLOBAL LOGISTICS (UK) LTD (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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. 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 course of 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
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.
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SCAN GLOBAL LOGISTICS (UK) LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SCAN GLOBAL LOGISTICS (UK) LTD (CONTINUED)
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 an Auditors' 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. 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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with law and regulations, was as follows:
∙The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
∙We identified the laws and regulations applicable to the company through discussion with directors and other management, and from our commercial knowledge and experience of the relevant sector;
∙The specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, are as follows:
o Companies Act 2006. o FRS102. o Employment legislation. o Tax legislation.
∙We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and reviewing board minutes; and
∙Laws and regulations were communicated within the audit team at the planning meeting, and during the audit as any further laws and regulation were identified. The audit team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur by:
∙Making enquiries of management as to where they consider there was susceptibility to fraud and their knowledge of actual suspected and alleged fraud;
∙Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;
∙Reviewing the financial statements and testing the disclosures against supporting documentation;
∙Performing analytical procedures to identify any unusual or unexpected trends or anomalies;
∙Inspecting and testing journal entries to identify unusual or unexpected transactions;
∙Assessing whether judgement and assumptions made in determining significant accounting estimates were indicative of management bias; and
∙Investigating the rationale behind significant transactions, or transactions that are unusual or outside the company’s usual course of business.
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SCAN GLOBAL LOGISTICS (UK) LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SCAN GLOBAL LOGISTICS (UK) LTD (CONTINUED)
The areas that we identified as being susceptible to misstatement through fraud were:
∙Management bias in the estimates and judgements made;
∙Management override of controls; and
∙Posting of unusual journals or transactions.
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 the 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 at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' 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 an Auditors' 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.
for and on behalf of
Chartered Accountants & Statutory Auditors
3 Brook Business Centre
Cowley Mill Road
Middlesex
UB8 2FX
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SCAN GLOBAL LOGISTICS (UK) LTD
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
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SCAN GLOBAL LOGISTICS (UK) LTD
REGISTERED NUMBER: 02602566
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 14 to 27 form part of these financial statements.
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SCAN GLOBAL LOGISTICS (UK) LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
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SCAN GLOBAL LOGISTICS (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Scan Global Logistics (UK) Ltd is a company limited by shares, incorporated in England and Wales. The address of the registered office is Unit A2 Skyway 14, Calder Way, Colnbrook, Slough, SL3 0BQ.
The company specialises as a freight forwarding agent.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The financial statements have been prepared on a going concern basis. The directors have considered the factors that impact the company’s future development, performance, cash flows and financial position in forming their opinion on the going concern basis. The directors believe that the company has adequate resources to continue to operate and meet its obligations as they fall due for the foreseeable future and therefore the use of the going concern assumption remains appropriate.
The company has taken exemption from producing a cashflow statement as it is included in the parent's consolidated financial statements. The consolidated financial statements can be obtained from the registered office of the ultimate parent undertaking, Skill Luxembourg Holdings S.a.r.l., office 20, Avenue Monterey, L-2163, Luxembourg.
Revenue from a contract to provide services is recognised in the year in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
• the amount of revenue can be measured reliably; • it is probable that the Company will receive the consideration due under the contract; • the stage of completion of the contract at the reporting date can be measured reliably; and • the costs incurred and the costs to complete the contract can be measured reliably. Revenue is recognised when services are provided to customers.
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SCAN GLOBAL LOGISTICS (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.
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SCAN GLOBAL LOGISTICS (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Functional and presentation 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 year end foreign currency monetary items are translated using the closing rate. Non-monetary 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 year end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income 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 'other operating income'.
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SCAN GLOBAL LOGISTICS (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of financial position.
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SCAN GLOBAL LOGISTICS (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
In preparing these financial statements, the directors have had to make the following judgments in applying the above accounting policies that have had the most significant effect on the amounts recognised in the financial statements. 1. Determine whether trade debtors are recoverable. Factors taken into consideration include credit insurance and expected recovery. 2. Making annual assessments over provisions held in the financial statements, based on known obligations that can be reliably estimated.
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SCAN GLOBAL LOGISTICS (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The whole of the turnover is attributable to the principle activity of the company.
Analysis of turnover by country of destination:
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SCAN GLOBAL LOGISTICS (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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SCAN GLOBAL LOGISTICS (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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SCAN GLOBAL LOGISTICS (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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SCAN GLOBAL LOGISTICS (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
12.Taxation (continued)
There are no significant factors that may affect future tax charges.
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SCAN GLOBAL LOGISTICS (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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SCAN GLOBAL LOGISTICS (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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SCAN GLOBAL LOGISTICS (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Capital redemption reserve
Profit and loss account
A cross guarantee has been given to British Airways plc to a maximum of $500,000 (USD) (2023 - $500,000 (USD)) to cover services provided to Horizon International Cargo Inc.
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £248,723 (2023 - £155,146). Contributions totalling £35,213 (2023 - £41,366) were payable to the fund at the reporting date and are included in creditors.
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SCAN GLOBAL LOGISTICS (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
There are no subsequent events that require disclosure or adjustments to the financial statements.
The immediate parent undertaking is Horizon International Holdings Limited, a company incorporated in England and Wales, with registered office Unit A2 Calder Way, Colnbrook, Slough, England, SL3 0BQ.
The ultimate parent undertaking is Skill Luxembourg Holdings S.a.r.l., a company incorporated in the Luxembourg with a registered office 20, Avenue Monterey, L-2163, Luxembourg. The smallest group in which these accounts are consolidated is SGL Group ApS. The largest group in which these accounts are consolidated is Skill Luxembourg Holdings S.a.r.l. The consolidated financial statements can be obtained from its registered office 20, Avenue Monterey, L-2163, Luxembourg.
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