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Company registration number: 11104099







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024


LOGENIX INTERNATIONAL LTD






































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LOGENIX INTERNATIONAL LTD
 


 
COMPANY INFORMATION


Directors
R. Cruse 
D. A. Hedges 




Company secretary
R. Cruse



Registered number
11104099



Registered office
Ashcombe House
5 The Crescent

Leatherhead

Surrey

KT22 8DY




Independent auditor
Menzies LLP
Chartered Accountants & Statutory Auditor

Ashcombe House

5 The Crescent

Leatherhead

Surrey

KT22 8DY





 


LOGENIX INTERNATIONAL LTD
 



CONTENTS



Page
Statement of Financial Position
1
Notes to the Financial Statements
2 - 6


 


LOGENIX INTERNATIONAL LTD
REGISTERED NUMBER:11104099



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

As restated
2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
85,239
136,847

Cash at bank and in hand
  
9,262
43,424

  
94,501
180,271

Creditors: amounts falling due within one year
 6 
(45,936)
(130,072)

Net current assets
  
 
 
48,565
 
 
50,199

Total assets less current liabilities
  
48,565
50,199

  

Net assets
  
48,565
50,199


Capital and reserves
  

Allotted, called up and fully paid share capital
  
100
100

Profit and loss account
  
48,465
50,099

  
48,565
50,199


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




R. Cruse
Director

Date: 10 June 2025

The notes on pages 2 to 6 form part of these financial statements.
Page 1

 


LOGENIX INTERNATIONAL LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Logenix International Ltd is a private company limited by shares and incorporated in England and Wales. The address of the registered office is given on the company information page of these financial statements. The Company's trading address is Parkshot House, 5 Kew Road, Richmond, Surrey.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company has made a profit before tax of £7,434 (2023: loss before tax of £85,750) and has net assets of £48,565 (2023: net assets of £50,199). The Directors have gained comfort from the group and associate undertakings that the Company has and will continue to receive operational and financial support from them to ensure that it can settle its liabilities as they fall due. Based on this agreement the Directors believe that it remains appropriate to prepare the financial statements on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP and rounded to the nearest £.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. 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 period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Revenue

Revenue is in respect of the provision of logistical services worldwide. Revenue is recognised to the extent   that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Page 2

 


LOGENIX INTERNATIONAL LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

Pensions

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 profit or loss 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.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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.


Page 3

 


LOGENIX INTERNATIONAL LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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:

Computer equipment
-
33%

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 profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 4).


4.


Tangible Fixed Assets





Computer equipment

£



Cost


At 1 January 2024
7,614



At 31 December 2024

7,614



Depreciation


At 1 January 2024
7,614



At 31 December 2024

7,614



Net book value



At 31 December 2024
-



At 31 December 2023
-

Page 4

 


LOGENIX INTERNATIONAL LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
24,355
7,086

Amounts owed by group undertakings
55,948
111,959

Other debtors
1,465
5,122

Prepayments and accrued income
3,471
3,612

Deferred taxation
-
9,068

85,239
136,847



6.


Creditors: Amounts falling due within one year

As restated
2024
2023
£
£

Trade creditors
4,246
1,679

Amounts owed to group undertakings
-
2,111

Amounts owed to associates
-
85,591

Corporation tax
24,152
24,152

Other creditors
313
294

Accruals and deferred income
17,225
16,245

45,936
130,072



7.


Prior year adjustment

During the preparation of the current year's financial statements it was identified that there was an error in the calculation of other creditors of £5,109. The impact of this error has resulted in an decrease in creditors falling due within one year of £5,109 together with an increase in retained earnings of £5,109.
During the preparation of the current year's financial statements it was identified that there was an error with the calculation of amounts owed by group undertakings. The impact of this error has resulted in an increase in debtors  of £103,458 together with an increase in retained earnings of £103,458.
As a result of the the above prior year adjustments increasing the profit for the year ended 31 December 2023, there has been an adjustment to the corporation tax for the prior year. The impact of this adjustment has introduced a corporation tax creditor of £24,152 together with a reduction in retained earnings of £24,152.


8.


Related party transactions

Included in other creditors less than one year is an amount of £nil (2023: £85,591) owed to Logenix Intermodal Associates DMCC, a variable interest and common controlled entity. The loan is interest free and repayable on demand.

Page 5

 


LOGENIX INTERNATIONAL LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Controlling party

The ultimate and immediate parent undertaking of the Company is The Ronald Cruse Trust, a trust  which is registered in the United States of America. The group in which the results of the company are consolidated is headed by RSC Holdings Corporation. The principal place of business of RSC Holdings Corporation is 3060 Williams Drive, Suite 400, Fairfax, Virginia 22031-4648.


10.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 10 June 2025 by Andrew Hookway FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 6