IRIS Accounts Production v25.1.0.734 SC259302 Board of Directors 1.12.23 30.11.24 30.11.24 Medium entities . true false true true false false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Fair value model Ordinary share capital 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2593022023-11-30SC2593022024-11-30SC2593022023-12-012024-11-30SC2593022022-11-30SC2593022022-12-012023-11-30SC2593022023-11-30SC259302ns15:Scotland2023-12-012024-11-30SC259302ns14:PoundSterling2023-12-012024-11-30SC259302ns10:Director12023-12-012024-11-30SC259302ns10:PrivateLimitedCompanyLtd2023-12-012024-11-30SC259302ns10:MediumEntities2023-12-012024-11-30SC259302ns10:Audited2023-12-012024-11-30SC259302ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-12-012024-11-30SC259302ns10:Medium-sizedCompaniesRegimeForAccounts2023-12-012024-11-30SC259302ns10:FullAccounts2023-12-012024-11-30SC25930212023-12-012024-11-30SC259302ns10:OrdinaryShareClass12023-12-012024-11-30SC259302ns10:Director22023-12-012024-11-30SC259302ns10:CompanySecretary12023-12-012024-11-30SC259302ns10:RegisteredOffice2023-12-012024-11-30SC259302ns5:CurrentFinancialInstruments2024-11-30SC259302ns5:CurrentFinancialInstruments2023-11-30SC259302ns5:ShareCapital2024-11-30SC259302ns5:ShareCapital2023-11-30SC259302ns5:RetainedEarningsAccumulatedLosses2024-11-30SC259302ns5:RetainedEarningsAccumulatedLosses2023-11-30SC259302ns5:ShareCapital2022-11-30SC259302ns5:RetainedEarningsAccumulatedLosses2022-11-30SC259302ns5:RetainedEarningsAccumulatedLosses2022-12-012023-11-30SC259302ns5:RetainedEarningsAccumulatedLosses2023-12-012024-11-30SC259302ns5:IntangibleAssetsOtherThanGoodwill2023-12-012024-11-30SC259302ns5:PlantMachinery2023-12-012024-11-30SC259302ns5:FurnitureFittings2023-12-012024-11-30SC259302ns5:ComputerEquipment2023-12-012024-11-30SC259302ns5:ReportableOperatingSegment12023-12-012024-11-30SC259302ns5:ReportableOperatingSegment12022-12-012023-11-30SC259302ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount2023-12-012024-11-30SC259302ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount2022-12-012023-11-30SC25930212023-12-012024-11-30SC25930212022-12-012023-11-30SC259302ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2023-12-012024-11-30SC259302ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2022-12-012023-11-30SC259302ns5:OwnedAssets2023-12-012024-11-30SC259302ns5:OwnedAssets2022-12-012023-11-30SC259302ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-12-012024-11-30SC259302ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-12-012023-11-30SC259302112023-12-012024-11-30SC259302112022-12-012023-11-30SC259302ns10:OrdinaryShareClass12022-12-012023-11-30SC259302ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-11-30SC259302ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2024-11-30SC259302ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-11-30SC259302ns5:PlantMachinery2023-11-30SC259302ns5:FurnitureFittings2023-11-30SC259302ns5:ComputerEquipment2023-11-30SC259302ns5:PlantMachinery2024-11-30SC259302ns5:FurnitureFittings2024-11-30SC259302ns5:ComputerEquipment2024-11-30SC259302ns5:PlantMachinery2023-11-30SC259302ns5:FurnitureFittings2023-11-30SC259302ns5:ComputerEquipment2023-11-30SC259302ns5:WithinOneYearns5:CurrentFinancialInstruments2024-11-30SC259302ns5:WithinOneYearns5:CurrentFinancialInstruments2023-11-30SC259302ns5:WithinOneYear2024-11-30SC259302ns5:WithinOneYear2023-11-30SC259302ns5:BetweenOneFiveYears2024-11-30SC259302ns5:BetweenOneFiveYears2023-11-30SC259302ns5:AllPeriods2024-11-30SC259302ns5:AllPeriods2023-11-30SC259302ns5:DeferredTaxation2023-11-30SC259302ns5:DeferredTaxation2023-12-012024-11-30SC259302ns5:DeferredTaxation2024-11-30SC259302ns10:OrdinaryShareClass12024-11-30SC259302ns5:RetainedEarningsAccumulatedLosses2023-11-30
REGISTERED NUMBER: SC259302 (Scotland)















Strategic Report, Report of the Directors and

Financial Statements For The Year Ended 30 November 2024

for

Global Logistics Staff Ltd.

Global Logistics Staff Ltd. (Registered number: SC259302)






Contents of the Financial Statements
For The Year Ended 30 November 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Statement of Comprehensive Income 8

Statement of Financial Position 9

Statement of Changes in Equity 10

Statement of Cash Flows 11

Notes to the Statement of Cash Flows 12

Notes to the Financial Statements 13


Global Logistics Staff Ltd.

Company Information
For The Year Ended 30 November 2024







DIRECTORS: Mrs L Murphy
Mr G Murphy





SECRETARY: Mrs L Murphy





REGISTERED OFFICE: C/O Robb Ferguson
3rd Floor
70 West Regent Street
Glasgow
G2 2QZ





REGISTERED NUMBER: SC259302 (Scotland)





INDEPENDENT AUDITORS: Robb Ferguson
Chartered Accountants & Statutory Auditors
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

Global Logistics Staff Ltd. (Registered number: SC259302)

Strategic Report
For The Year Ended 30 November 2024

The directors present their strategic report for the year ended 30 November 2024.

REVIEW OF THE BUSINESS
For the year to 30 November 2024, the directors are pleased to report turnover of £10,173,191 (2023: £13,361,675) and an operating profit of £369.721 (2023: £959,256). Net assets of the company are £1,616,473 compared to £1,474,672 at 30 November 2023.

PRINCIPLE RISKS AND UNCERTAINTIES
The principal risk affecting the continuing growth of the company is the availability of the required workforce,

KEY PERFORMANCE INDICATORS
Our Key Performance Indicators in 2024 will be sales and gross profit margin.

OTHER INFORMATION AND EXPLANATIONS
The directors' assessment of risk leads them to continue to concentrate on gaining more business which meet the company's required risk profile whilst ensuring that margins are not eroded.

ON BEHALF OF THE BOARD:





Mr G Murphy - Director


7 May 2025

Global Logistics Staff Ltd. (Registered number: SC259302)

Report of the Directors
For The Year Ended 30 November 2024

The directors present their report with the financial statements of the company for the year ended 30 November 2024.

DIVIDENDS
Interim dividends per share were paid as follows:
£65,000 - 6 April 2024
£15,000 - 30 November 2024
£80,000

The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 30 November 2024 will be £ 160,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 December 2023 to the date of this report.

Mrs L Murphy
Mr G Murphy

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 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 these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





Mr G Murphy - Director


7 May 2025

Report of the Independent Auditors to the Members of
Global Logistics Staff Ltd.

Opinion
We have audited the financial statements of Global Logistics Staff Ltd. (the 'company') for the year ended 30 November 2024 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, 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).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 November 2024 and of its profit 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 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 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 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.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

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 the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Global Logistics Staff Ltd.


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 Report of the Directors.

We have nothing to report in respect of the following matters where 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 and 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 Statement of Directors' Responsibilities set out on page three, 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 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.

Report of the Independent Auditors to the Members of
Global Logistics Staff Ltd.


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 a Report of the Auditors 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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws 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 discussions with directors and other management, and from our wider knowledge and experience;
- We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006 and FRS 102.
- We assessed the extent of compliance with the laws and regulations identified above through making enquiries of
management and inspecting legal correspondence; and
- Identified laws and regulations were communicated within the audit team regularly and the 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 considered there was susceptibility to fraud, their knowledge of
actual, suspected and alleged fraud; and
- Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations

Audit response to risks identified
To address the risk of fraud through management bias and override of controls, we:
- Performed analytical procedures to identify any unusual or unexpected relationships;
- Tested journal entries to identify unusual transactions;
- Assessed whether judgements and assumptions made in determining the accounting estimates set out were indicative of potential bias; and
- Investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- Agreeing financial statement disclosures to underlying supporting documentation;
- Enquiring of management as to actual and potential litigation and claims; and
- Requesting correspondence with HMRC, Companies House and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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 Report of the Auditors.

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 Report of the Auditors.

Report of the Independent Auditors to the Members of
Global Logistics Staff Ltd.


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 we are required to state to them in a Report of the Auditors 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.




Janice Alexander (Senior Statutory Auditor)
for and on behalf of Robb Ferguson
Chartered Accountants & Statutory Auditors
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

7 May 2025

Global Logistics Staff Ltd. (Registered number: SC259302)

Statement of Comprehensive
Income
For The Year Ended 30 November 2024

2024 2023
Notes £    £   

TURNOVER 3 10,173,191 13,361,675

Cost of sales 9,228,160 11,802,668
GROSS PROFIT 945,031 1,559,007

Administrative expenses 677,815 769,434
267,216 789,573

Other operating income 4 102,505 85,178
Gain/loss on revaluation of investment
property

-

84,505
OPERATING PROFIT and
PROFIT BEFORE TAXATION 369,721 959,256

Tax on profit 7 67,920 240,714
PROFIT FOR THE FINANCIAL YEAR 301,801 718,542

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

301,801

718,542

Global Logistics Staff Ltd. (Registered number: SC259302)

Statement of Financial Position
30 November 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 9 15,363 32,376
Tangible assets 10 5,284 7,019
Investment property 11 - 470,000
20,647 509,395

CURRENT ASSETS
Debtors 12 1,723,104 1,653,291
Cash at bank 1,574,764 1,256,591
3,297,868 2,909,882
CREDITORS
Amounts falling due within one year 13 1,700,721 1,909,975
NET CURRENT ASSETS 1,597,147 999,907
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,617,794

1,509,302

PROVISIONS FOR LIABILITIES 16 1,321 34,630
NET ASSETS 1,616,473 1,474,672

CAPITAL AND RESERVES
Called up share capital 17 2 2
Retained earnings 18 1,616,471 1,474,670
SHAREHOLDERS' FUNDS 1,616,473 1,474,672

The financial statements were approved by the Board of Directors and authorised for issue on 7 May 2025 and were signed on its behalf by:





Mr G Murphy - Director


Global Logistics Staff Ltd. (Registered number: SC259302)

Statement of Changes in Equity
For The Year Ended 30 November 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 December 2022 2 991,128 991,130

Changes in equity
Dividends - (235,000 ) (235,000 )
Total comprehensive income - 718,542 718,542
Balance at 30 November 2023 2 1,474,670 1,474,672

Changes in equity
Dividends - (160,000 ) (160,000 )
Total comprehensive income - 301,801 301,801
Balance at 30 November 2024 2 1,616,471 1,616,473

Global Logistics Staff Ltd. (Registered number: SC259302)

Statement of Cash Flows
For The Year Ended 30 November 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 213,809 575,217
Tax paid (207,636 ) (64,216 )
Net cash from operating activities 6,173 511,001

Cash flows from investing activities
Purchase of tangible fixed assets - (2,515 )
Purchase of investment property - (108,931 )
Sale of investment property 472,000 -
Net cash from investing activities 472,000 (111,446 )

Cash flows from financing activities
Equity dividends paid (160,000 ) (235,000 )
Net cash from financing activities (160,000 ) (235,000 )

Increase in cash and cash equivalents 318,173 164,555
Cash and cash equivalents at beginning of
year

2

1,256,591

1,092,036

Cash and cash equivalents at end of year 2 1,574,764 1,256,591

Global Logistics Staff Ltd. (Registered number: SC259302)

Notes to the Statement of Cash Flows
For The Year Ended 30 November 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 369,721 959,256
Depreciation charges 18,748 18,718
Profit on disposal of fixed assets (2,000 ) -
Gain on revaluation of fixed assets - (84,505 )
386,469 893,469
(Increase)/decrease in trade and other debtors (69,813 ) 1,003,147
Decrease in trade and other creditors (102,847 ) (1,321,399 )
Cash generated from operations 213,809 575,217

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 30 November 2024
30.11.24 1.12.23
£    £   
Cash and cash equivalents 1,574,764 1,256,591
Year ended 30 November 2023
30.11.23 1.12.22
£    £   
Cash and cash equivalents 1,256,591 1,092,036


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.12.23 Cash flow At 30.11.24
£    £    £   
Net cash
Cash at bank 1,256,591 318,173 1,574,764
1,256,591 318,173 1,574,764
Total 1,256,591 318,173 1,574,764

Global Logistics Staff Ltd. (Registered number: SC259302)

Notes to the Financial Statements
For The Year Ended 30 November 2024

1. STATUTORY INFORMATION

Global Logistics Staff Ltd. 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Judgements and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company's accounting policies.

The directors are satisfied that accounting policies are appropriate and applied consistently. Key sources of accounting estimation have been applied to depreciation rates. Each estimate has been considered by the directors, and the basis for the estimate has been deemed to be reasonable.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover represents invoiced haulage/recruitment services net of value added tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Software is being amortised evenly over their estimated useful life of five years

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixed plant and equipment - 25% on cost
Fixtures and fittings - 20% on reducing balance
Computers - 33% straight line

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Global Logistics Staff Ltd. (Registered number: SC259302)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued

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.

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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

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.

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.



Global Logistics Staff Ltd. (Registered number: SC259302)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued
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.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in the finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Equity Instruments

Equity instruments issued by the company are recorded at the proceeds recieved, not of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.


Global Logistics Staff Ltd. (Registered number: SC259302)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing the value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asst is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Global Logistics Staff Ltd. (Registered number: SC259302)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are recieved.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
Sales 10,173,191 13,361,675
10,173,191 13,361,675

4. OTHER OPERATING INCOME
2024 2023
£    £   
Management fees 102,505 85,178

5. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,519,068 2,614,732
Social security costs 243,975 254,746
Other pension costs 32,970 39,481
2,796,013 2,908,959

The average number of employees during the year was as follows:
2024 2023

Employees 77 88

2024 2023
£    £   
Directors' remuneration 51,151 50,562

Global Logistics Staff Ltd. (Registered number: SC259302)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2024

6. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Hire of plant and machinery 7,339 7,674
Depreciation - owned assets 1,735 1,705
Profit on disposal of fixed assets (2,000 ) -
Software amortisation 17,013 17,013
Auditors remuneration 12,985 15,000

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 101,229 207,636

Deferred tax (33,309 ) 33,078
Tax on profit 67,920 240,714

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 369,721 959,256
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 23.011%)

92,430

220,734

Effects of:
Expenses not deductible for tax purposes 9,450 4,307
Income not taxable for tax purposes (651 ) (17,405 )
Deferred tax (33,309 ) 33,078
Total tax charge 67,920 240,714

8. DIVIDENDS
2024 2023
£    £   
Ordinary share capital shares of £1 each
Interim 160,000 235,000

Global Logistics Staff Ltd. (Registered number: SC259302)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2024

9. INTANGIBLE FIXED ASSETS
Software
£   
COST
At 1 December 2023
and 30 November 2024 85,066
AMORTISATION
At 1 December 2023 52,690
Amortisation for year 17,013
At 30 November 2024 69,703
NET BOOK VALUE
At 30 November 2024 15,363
At 30 November 2023 32,376

10. TANGIBLE FIXED ASSETS
Fixed Fixtures
plant and and
equipment fittings Computers Totals
£    £    £    £   
COST
At 1 December 2023
and 30 November 2024 1,670 21,274 5,889 28,833
DEPRECIATION
At 1 December 2023 592 16,723 4,499 21,814
Charge for year 287 910 538 1,735
At 30 November 2024 879 17,633 5,037 23,549
NET BOOK VALUE
At 30 November 2024 791 3,641 852 5,284
At 30 November 2023 1,078 4,551 1,390 7,019

11. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023 470,000
Disposals (470,000 )
At 30 November 2024 -
NET BOOK VALUE
At 30 November 2024 -
At 30 November 2023 470,000

Global Logistics Staff Ltd. (Registered number: SC259302)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2024

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,585,838 1,597,639
Other debtors 4,544 16,792
Prepayments and accrued income 132,722 38,860
1,723,104 1,653,291

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 73,425 36,919
Tax 101,229 207,636
Social security and other taxes 69,365 48,867
Barclays PLC factoring account 1,062,336 1,355,085
VAT 188,518 163,480
Other creditors 48,569 -
Accruals and deferred income 157,279 97,988
1,700,721 1,909,975

14. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 19,983 9,792
Between one and five years 18,481 14,690
38,464 24,482

15. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Barclays PLC factoring account 1,062,336 1,355,085

Barclays Bank PLC holds a fixed security and floating charge over all assets of the company for funds due or becoming due to the bank

16. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,321 34,630

Global Logistics Staff Ltd. (Registered number: SC259302)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2024

16. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 December 2023 34,630
Credit to Statement of Comprehensive Income during year (33,309 )
Balance at 30 November 2024 1,321

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary share capital £1 2 2

18. RESERVES
Retained
earnings
£   

At 1 December 2023 1,474,670
Profit for the year 301,801
Dividends (160,000 )
At 30 November 2024 1,616,471

19. PENSION COMMITMENTS

20242023
Defined contribution schemes £ £
Charge to profit and loss in respect of defined contribution schemes32,97039,481

The company operated a defined contribution pension scheme for all qualifying employees. 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 funds, There was £3,136 (2023-£1,409) of unpaid contributions outstanding at 30 November 2024.

Global Logistics Staff Ltd. (Registered number: SC259302)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2024

20. RELATED PARTY DISCLOSURES

Transactions with related parties
During the year the company entered into the following transactions with related parties:
Purchases Purchases
2024 2023
£    £   
Other related parties payable 1,322,818 1,154,462

Management Charges
Payable/(Receivable)
2024 2023
£    £   
Other related parties payable 56,427 79,588
Other related parties receivable (102,505 ) (85,178 )

2024 2023
Amounts due to related parties £    £   
Other related parties 24,874 -

2024 2023
Amounts due from related parties £    £   
Other related parties - 12,392