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REGISTERED NUMBER: 10841072 (England and Wales)















Strategic Report, Report of the Director and

Financial Statements for the Year Ended 30 November 2024

for

B L Shipping (Holdings) Limited

B L Shipping (Holdings) Limited (Registered number: 10841072)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Strategic Report 2

Report of the Director 5

Report of the Independent Auditors 7

Income Statement 10

Other Comprehensive Income 11

Balance Sheet 12

Statement of Changes in Equity 13

Notes to the Financial Statements 14


B L Shipping (Holdings) Limited

Company Information
for the Year Ended 30 November 2024







DIRECTOR: Mrs D Banks





REGISTERED OFFICE: 2nd Floor
Riverside Court
Bollin Walk
Wilmslow
Cheshire
SK9 1DL





REGISTERED NUMBER: 10841072 (England and Wales)





AUDITORS: Langricks (Holmfirth) Limited, Statutory Auditors
4 Greenfield Road
Holmfirth
West Yorkshire
HD9 2JT

B L Shipping (Holdings) Limited (Registered number: 10841072)

Strategic Report
for the Year Ended 30 November 2024

The director presents her strategic report for the year ended 30 November 2024.

REVIEW OF BUSINESS
Other than share capital, the Company's main sources of finance came from monies from its subsidiary.

The following is an extract from the Strategic Report of the subsidiary's accounts for the year ended 30 November 2024 (hereafter, the subsidiary Banks and Lloyd (Shipping) Limited is referred to as "the company").

The company performed well and inline with our expectations in the year to the 30 November 2024 with consideration to the challenges brought by ongoing geopolitical and economic instability.

We are pleased to report on the growth in turnover by 10% due to restructuring in our sales division and further emphasis on building longstanding relationships with our clients.

We continued further extensive investment into IT and staff upskilling in an effort to ensure we are even better placed to provide diversified services to our core markets as well as expand further into new ones.

Our commitment to our core markets continues with the company placing greater emphasis on the quality of customer service. We believe that this strategy will allow us to continue to fortify a solid foundation for many years to come.

During the financial year ending 30 November 2024, we encountered several challenges, including a significant bad debt amounting to £213,610 . Despite these obstacles, we successfully mitigated the impact and are now implementing enhanced strategies and internal coordination to safeguard our business interests.
Additionally, we have introduced insurance measures to protect our financial interests in cases where bad debt is unavoidable.

Due to our strength in the European markets, we closely monitor developments in the changing rules and regulations surrounding imports and exports procedures to and from the EU. This has allowed us to offer and maintain reliable logistics solutions to our customers, despite disruptions caused by continued various conflicts in the world.

The business remains very ambitious with scouting opportunities of new markets throughout the year continuing to take place. We continue to do all our customs clearance work in house with no need to sub-contract. This allows us to control the reliability, efficiency and pace of our customs activities. Our customs and deferment facilities allow us to provide a robust brokerage product which is further boosted by the increased experience within our Valencia operation in Spain.

Looking ahead our existing solid foundations combined with our proactive approach means that we see a continued bright future for the company. We remain optimistic on the year 2025 and expect it to continue the momentum of growth. The company continues to focus on being a leading provider of worldwide freight forwarding and brokerage services.


B L Shipping (Holdings) Limited (Registered number: 10841072)

Strategic Report
for the Year Ended 30 November 2024

PRINCIPAL RISKS AND UNCERTAINTIES
Financial risk management objectives and policies
The company uses various financial instruments including cash, trade debtors and trade creditors that arise from its operations.

The existence of these financial instruments exposes the company to market risk, currency risk, interest rate risk, pricing risk, liquidity risk and credit risk. These risks are described below along with the company's policies for managing these risks.

Market risk
Market risk encompasses currency risk, interest rate risk and price risk.

Currency risk
The company is exposed to foreign exchange risk on some of its purchases. The company seeks to manage its foreign exchange volatility through the prudent management of its purchasing patterns and the trends in foreign exchange rates through supply chain efficiencies and pricing policies.

Interest rate risk
The company is exposed to interest rate fluctuations on some transactions. Whilst this risk is not considered material at the current time, changes in market rates of interest could have an impact on the company's results.

Vendor price risk
The company regularly monitors purchase prices and takes available market actions to mitigate this risk.

Liquidity risk
The company seeks to manage this risk by ensuring sufficient liquidity is available to meet foreseeable needs.

Credit risk
The company's principal financial assets are cash and trade debtors. The principal credit risk arises from the trade debtors.

In order to manage credit risk, the company sets limits for customers based on a combination of payment history and third party credit references. Credit limits are reviewed by the finance team on a regular basis in conjunction with debt ageing and collection history. Provisions against bad debts are made where appropriate.

SECTION 172(1) STATEMENT
The directors believe in building long term, strong and sustainable relationships with our suppliers. The approach has enabled us to create a reliable and robust supply chain which works well to meet business needs.

The business actively plays a part within the local community as it aims to employ local people and utilise the services of local companies where possible. The directors are committed to employees health, wellbeing and training, engaging with specialists for external training and providing in-house sessions for employes during work-time.


B L Shipping (Holdings) Limited (Registered number: 10841072)

Strategic Report
for the Year Ended 30 November 2024

RISK OF BUSINESS INTERRUPTION
Whilst the world continues to suffer from turmoil (conflict in Eastern Europe, and the impact of tariffs) we monitor the potential effects of these issues on our trade adapting where necessary, and we continue to have a positive outlook.

ON BEHALF OF THE BOARD:




Mrs D Banks - Director


20 May 2025

B L Shipping (Holdings) Limited (Registered number: 10841072)

Report of the Director
for the Year Ended 30 November 2024

The director presents her report with the financial statements of the company for the year ended 30 November 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of a holding company of Banks and Lloyd (Shipping) Limited.

DIVIDENDS
The total distribution of dividends for the year ended 30 November 2024 was £411,000.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTOR
Mrs D Banks held office during the whole of the period from 1 December 2023 to the date of this report.

DISCLOSURE IN THE STRATEGIC REPORT
The company has chosen in accordance with the Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of business review, financial risk management objectives and policies.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless she is 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 director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-state whether applicable 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 director is 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 her to ensure that the financial statements comply with the Companies Act 2006. She is 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 director is 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 she has taken all the steps that she ought to have taken as a director in order to make herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

B L Shipping (Holdings) Limited (Registered number: 10841072)

Report of the Director
for the Year Ended 30 November 2024


AUDITORS
The auditors, Langricks (Holmfirth) Limited, Statutory Auditors, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mrs D Banks - Director


20 May 2025

Report of the Independent Auditors to the Members of
B L Shipping (Holdings) Limited

Opinion
We have audited the financial statements of B L Shipping (Holdings) Limited (the 'company') for the year ended 30 November 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Director 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 Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
B L Shipping (Holdings) Limited


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 Director.

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 director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page five, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

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:

The risk of detecting a material misstatement resulting from fraud is higher than for one resulting from error as fraud may involve collusion, forgery, intentional omissions, misrepresentation, or override of internal controls.

Our procedures included:

- Enquiry of management, those charged with governance around actual and potential litigation and claims.
- Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations.
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
- Auditing the risk of management override of controls, including testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

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
B L Shipping (Holdings) Limited


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.




Christopher Langrick (Senior Statutory Auditor)
for and on behalf of Langricks (Holmfirth) Limited, Statutory Auditors
4 Greenfield Road
Holmfirth
West Yorkshire
HD9 2JT

20 May 2025

B L Shipping (Holdings) Limited (Registered number: 10841072)

Income Statement
for the Year Ended 30 November 2024

30.11.24 30.11.23
Notes £    £   

TURNOVER - -

Administrative expenses 300 -
OPERATING LOSS (300 ) -

Income from shares in group
undertakings

411,000

2,503,489
PROFIT BEFORE TAXATION 410,700 2,503,489

Tax on profit 4 - -
PROFIT FOR THE FINANCIAL YEAR 410,700 2,503,489

B L Shipping (Holdings) Limited (Registered number: 10841072)

Other Comprehensive Income
for the Year Ended 30 November 2024

30.11.24 30.11.23
Notes £    £   

PROFIT FOR THE YEAR 410,700 2,503,489


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

410,700

2,503,489

B L Shipping (Holdings) Limited (Registered number: 10841072)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £   
FIXED ASSETS
Investments 6 10,254,570 10,254,570

CURRENT ASSETS
Debtors 7 80 80
Cash at bank 900 900
980 980
CREDITORS
Amounts falling due within one year 8 4,492,837 4,492,537
NET CURRENT LIABILITIES (4,491,857 ) (4,491,557 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,762,713

5,763,013

CAPITAL AND RESERVES
Called up share capital 9 100 100
Other reserves 10 940,000 940,000
Retained earnings 10 4,822,613 4,822,913
SHAREHOLDERS' FUNDS 5,762,713 5,763,013

The financial statements were approved by the director and authorised for issue on 20 May 2025 and were signed by:





Mrs D Banks - Director


B L Shipping (Holdings) Limited (Registered number: 10841072)

Statement of Changes in Equity
for the Year Ended 30 November 2024

Called up
share Retained Other Total
capital earnings reserves equity
£    £    £    £   
Balance at 1 December 2022 100 4,822,913 940,000 5,763,013

Changes in equity
Dividends - (2,503,489 ) - (2,503,489 )
Total comprehensive income - 2,503,489 - 2,503,489
Balance at 30 November 2023 100 4,822,913 940,000 5,763,013

Changes in equity
Dividends - (411,000 ) - (411,000 )
Total comprehensive income - 410,700 - 410,700
Balance at 30 November 2024 100 4,822,613 940,000 5,762,713

B L Shipping (Holdings) Limited (Registered number: 10841072)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

B L Shipping (Holdings) Limited is a private company, limited by shares , registered in England and Wales. 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.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company is a qualifying entity for the purposes of FRS 102, being a member of a group
where the parent of that group prepares publicly available consolidated financial statements,
including this company,

Which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

- Section 7 'Statement of Cash Flows': Presentation of a statement of cash flow and
related notes and disclosures;
- Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues:
The disclosure requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii),
11.48(a)(iv), 11.48(b), 11.48(c), 12.26, 12.27, 12.29(a), 12.29(b), and 12.29A;

Preparation of consolidated financial statements
The financial statements contain information about B L Shipping (Holdings) Limited as an individual company and do not contain consolidated financial information. The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


B L Shipping (Holdings) Limited (Registered number: 10841072)

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 balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the 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.

3. EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 30 November 2024 nor for the year ended 30 November 2023.

The average number of employees during the year was NIL (2023 - NIL).

30.11.24 30.11.23
£    £   
Directors' remuneration - -

4. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 30 November 2024 or for the year ended
30 November 2023.

5. DIVIDENDS
30.11.24 30.11.23
£    £   
Ordinary shares of 1 each
Interim 411,000 2,503,489

6. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 December 2023
and 30 November 2024 10,254,570
NET BOOK VALUE
At 30 November 2024 10,254,570
At 30 November 2023 10,254,570

B L Shipping (Holdings) Limited (Registered number: 10841072)

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

6. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Banks & Lloyd (Shipping) limited
Registered office: 2nd Floor, Riverside Court, Bollin Walk, Wilmslow, Cheshire, SK9 1DL
Nature of business: Worldwide freight forwarders
%
Class of shares: holding
Ordinary 100.00

BL International Logistics and Shipping SL
Registered office: Calle DR J.J Domine, Number 9, Door 18, Valencia 46011
Nature of business: Worldwide freight forwarders
%
Class of shares: holding
Ordinary 100.00

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Other debtors 80 80

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Amounts owed to group undertakings 4,492,837 4,492,537

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.24 30.11.23
value: £    £   
100 Ordinary 1 100 100

10. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 December 2023 4,822,913 940,000 5,762,913
Profit for the year 410,700 410,700
Dividends (411,000 ) (411,000 )
At 30 November 2024 4,822,613 940,000 5,762,613

Retained earnings - Accumulated profits and losses achieved.

Other reserves - Reserves arising on mergers.

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

B L Shipping (Holdings) Limited (Registered number: 10841072)

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

12. POST BALANCE SHEET EVENTS

On 6 December 2024 the group was restructured, and BLB Freight Limited became the ultimate parent undertaking.

13. ULTIMATE CONTROLLING PARTY

Throughout the year ultimate controlling party is the Directors and shareholders of BLRV Limited, and no individual controls the Company.

BLRV Limited is the smallest and largest group of undertakings to consolidate these financial statements at the 30 November 2024. Copies of the consolidated financial statements can be obtained from Companies House.