Registration number:
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CLdN RoRo Agencies Limited
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Brebners
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CLdN RoRo Agencies Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Statement of Income and Retained Earnings |
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Statement of Financial Position |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
CLdN RoRo Agencies Limited
Company Information
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Directors |
W Wigerinck G J Walker J M E Rubens F S Maes B D Dove-Seymour S M Hammond |
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Registered office |
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Auditor |
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CLdN RoRo Agencies Limited
Strategic Report for the Year Ended 31 December 2024
The directors present their strategic report for the year ended 31 December 2024.
Fair review of the business
The principal activity of the company is a transport, trailer and ferry agency for routes between the UK and Western Europe. The company began business as agent for the principal shipping lines owned by CLdN Links SA, to handle all third party cargo bookings and vessel husbandry. This evolved into today's situation whereby CLdN Ro-Ro Agencies Limited generates the body of its income from contracts for shipping, handling and storing of manufacturers' new cars and vans.
These vehicles are shipped on CLdN RoRo SA routes and, in the main, handled through CLdN Ports’ group terminals and facilities, for onwards distribution arranged by the manufacturers directly.
Development and performance of the company's business during the financial year
The directors report an increase in turnover from £55,983,977 in 2023 to £59,423,408 in 2024. Operating profit has increased from £131,249 in 2023 to £141,300 in 2024. An increase in cost of sales from £53,196,391 in 2023 to £56,035,002 in 2024 reflects higher turnover.
The company’s business depends on the import and export of new automotive units between the UK and EU. Demand remains suppressed compared to pre-COVID levels. The causes of this include structural changes to the UK and European car markets including expansion of particularly electrical vehicle imports from Asia, suppressed consumer demand as a result of cost of living pressures, and general economic conditions.
The Company is a member of a group of companies that provides transportation services through its network of ports and shipping lines and door-to-door operations. These links remain and the CLdN group has significant market share in EU-UK Trade. The Company’s affiliates in the UK and EU continue to invest in their terminal facilities, as well as in a modern and efficient shipping fleet.
Financial Key Performance Indicators
The company's key financial and other performance indicators during the year were as follows:
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Financial KPIs |
Unit |
2024 |
2023 |
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Turnover |
£ |
59,423,408 |
55,983,977 |
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Operating profit / (loss) |
£ |
141,300 |
131,249 |
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Gross profit margin |
% |
6 |
5 |
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Profit/(Loss) before tax |
£ |
46,312 |
102,821 |
The directors also measure the performance of the company on other factors including throughput/freight units handled.
CLdN RoRo Agencies Limited
Strategic Report for the Year Ended 31 December 2024
Future developments and prospects
The directors consider that the company’s operations will continue to be influenced by the impacts of global economic and geo-political factors, particularly relating to economic uncertainty. As the company operates in the sphere of EU-UK trade the impacts of potential trade barriers between the Europe and the US will be limited.
However, the UK-EU market may be impacted by the uncertainties that this issue creates, in addition the direct impact of Brexit on trade volumes alongside lower consumer confidence and depressed economic performance. The import/export of automotive units remains suppressed compared with pre-COVID levels.
Operating costs are expected to remain higher than previous years. Additional costs for labour will result from increases in national insurance contributions by the company.
The directors consider that the outlook for improvement in automotive freight transport volumes during 2025 remains challenging.
UK ferry reports remain the key route for the import and export of new vehicles. The company is part of a group which is one of the principal operators in the transport of new vehicles between the UK and the EU. The directors consider that the company is well-placed to secure its position in this market, including as green engine technology develops. The company is able to secure facilities for these manufacturers for the storage of vehicles pending onward transport, and benefits from the provision of PDI services from affiliated companies in the group. The directors continue to work alongside colleagues to maintain and secure business with established customers and to retain the facilities necessary to do so.
Risk Management
The board of directors assess that the key risks to the company are related to its operations, as follows:
Customers: The company’s revenue is generated by agency functions for its shipping line customers in a very competitive market. The company is therefore exposed to the potential loss of freight customers, or low trading volumes. The company is also exposed to risks that automotive volumes remain lower long-term. The company is part of a wider shipping and ports group that (together with the directors of the company) seeks to mitigate these risks by actively monitoring trading volumes and engaging new freight customers.
Labour: increasing costs and restricted availability of labour are operational risks. The directors take steps to respond to the employment market, although labour availability is constrained in the UK.
EU-UK trade: trade volumes have been impacted by Brexit. It remains to be seen whether discussions between the UK government and EU ease current barriers to trade.
Economic conditions: the directors expect the outlook for 2025 to remain uncertain given continuing depressed economic activity in the UK and wider economic conditions, including as a result of geopolitical events.
CLdN RoRo Agencies Limited
Strategic Report for the Year Ended 31 December 2024
Going concern
The company made a profit after tax for the year ended 31 December 2024 of £26,063 compared to £78,042 for 2023.
The company finances its operations on a group basis from a combined treasury function.
The directors consider that although challenges to trading volumes and revenue persist from global, EU-UK, and other geopolitical factors, this should not result in issues for the company as a going concern.
Having made sufficient enquiries, and based upon the above, the directors have a reasonable expectation that the company has adequate resources to continue operating in the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
Approved by the
.........................................
Director
CLdN RoRo Agencies Limited
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.
Directors of the company
The directors who held office during the year were as follows:
Dividends
No interim dividends were paid during the year (2023: £Nil) and no final dividend is proposed.
Disclosure of information in the Strategic Report
The company has chosen in accordance with s.414C(11) Companies Act 2006 to set out in the company's strategic report information required by Schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 to be contained in the directors' report. It has done so in respect of future developments and financial instruments.
Disclosure of information to the auditor
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Director's liabilities
As permitted by the Articles of Association, the Directors have the benefit of an indemnity which is a qualifying third party indemnity provision as defined by Section 234 of the Companies Act 2006. The indemnity was in force throughout the last financial year and is currently in force.
Approved by the director on
.........................................
G J Walker
Director
CLdN RoRo Agencies Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards 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:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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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.
CLdN RoRo Agencies Limited
Independent Auditor's Report to the Members of CLdN RoRo Agencies Limited
for the Year Ended 31 December 2024
Opinion
We have audited the financial statements of CLdN RoRo Agencies Limited (the 'company') for the year ended 31 December 2024, which comprise the Statement of Income and Retained Earnings, Statement of Financial Position, 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 31 December 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 Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were 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 included in the annual report, other than the financial statements and our auditor’s report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
CLdN RoRo Agencies Limited
Independent Auditor's Report to the Members of CLdN RoRo Agencies Limited
for the Year Ended 31 December 2024
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our 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 and the Directors' Report.
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 6), the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
CLdN RoRo Agencies Limited
Independent Auditor's Report to the Members of CLdN RoRo Agencies Limited
for the Year Ended 31 December 2024
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:
Based on our understanding of the company and the industry in which it operates, we determined that the principal risks of non-compliance with laws and regulations related to the reporting framework (FRS 102 and the Companies Act 2006) and UK corporate taxation laws. These risks were communicated to our audit team and we remained alert to any indications of non-compliance throughout our audit.
We understood how the company is complying with relevant legislation by making enquiries of management. We also considered the results of our audit procedures and to what extent these corroborate this understanding and assessed the susceptibility of the company’s financial statements to material misstatement. This included consideration of how fraud might occur and evaluation of management’s incentives and opportunities for fraudulent manipulation of the financial statements.
We designed our audit procedures to identify any non-compliance with laws and regulations. Such procedures included, but were not limited to, inspection of any regulatory or legal correspondence; challenging assumptions and judgements made by management; identifying and testing journal entries with a focus on large or unusual transactions as determined based on our understanding of the business; and identifying and assessing the effectiveness of controls in place to prevent and detect fraud.
Owing to the inherent limitations of an audit, there remains a risk that a material misstatement may not have been detected, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance with laws and regulations and cannot be expected to detect all instances of non-compliance.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
The primary responsibility for the detection and prevention of fraud rests with those responsible for governance and management. The further removed non-compliance with laws and regulations is from the events reflected in the financial statements, the less likely the auditor will become aware of it.
The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment, collusion, omission, misrepresentation or forgery.
CLdN RoRo Agencies Limited
Independent Auditor's Report to the Members of CLdN RoRo Agencies Limited
for the Year Ended 31 December 2024
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 an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
......................................
For and on behalf of
130 Shaftesbury Avenue
W1D 5AR
CLdN RoRo Agencies Limited
Statement of Income and Retained Earnings for the Year Ended 31 December 2024
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Note |
2024 |
2023 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating profit |
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Interest payable and similar charges |
( |
( |
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Interest receivable and similar income |
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(94,988) |
(28,428) |
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Profit before tax |
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Taxation |
( |
( |
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Profit for the financial year |
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Retained earnings brought forward |
3,338,562 |
3,260,520 |
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Retained earnings carried forward |
3,364,625 |
3,338,562 |
CLdN RoRo Agencies Limited
Statement of Financial Position as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
|||
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
- |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
3,000,000 |
1,000,000 |
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Profit and loss account |
3,364,625 |
3,338,562 |
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Shareholders' funds |
6,364,625 |
4,338,562 |
Approved and authorised by the
......................................................................
G J Walker
Director
Company registration number: 01651777
CLdN RoRo Agencies Limited
Statement of Changes in Equity for the Year Ended 31 December 2024
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Share capital |
Retained earnings |
Total |
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At 1 January 2024 |
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Profit for the year |
- |
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New share capital subscribed |
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- |
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At 31 December 2024 |
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Share capital |
Retained earnings |
Total |
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At 1 January 2023 |
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Profit for the year |
- |
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At 31 December 2023 |
1,000,000 |
3,338,562 |
4,338,562 |
CLdN RoRo Agencies Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is that of transport, trailer and ferry agents for North Sea routes between the UK and Western Europe.
The principal place of business is:
Long Reach House
London Road
Purfleet
Essex
RM19 1PD
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Accounting policies |
Statement of compliance
These financial statements were 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.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Summary of disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of CLdN Links SA. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:
a) No cash flow statement has been presented for the company.
b) Disclosures in respect of financial instruments have not been presented.
c) No disclosure has been given for the aggregate remuneration of key management personnel. .
Going concern
The company had net assets at 31 December 2024 amounting to £6,364,625.
The company's cashflow forecasts show that the company has sufficient working capital for a period of at least 12 months from the date of approval of these financial statements.
Having made sufficient enquiries, and based upon the above, the directors have a reasonable expectation that the company has adequate resources to continue operating in the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
CLdN RoRo Agencies Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: |
The company exercises judgement to determine useful lives and residual values of tangible assets. The assets are depreciated to their estimated residual values over their estimated useful lives. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of agency services, in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises turnover from agency fees in the period to which they relate.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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 taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
CLdN RoRo Agencies Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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Asset class |
Depreciation method and rate |
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Motor vehicles |
17% - 25% straight line |
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Furniture, fittings and equipment |
15% - 33% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Turnover |
The analysis of the company's turnover for the year from continuing operations is as follows:
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2024 |
2023 |
|
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Rendering of services |
|
|
The analysis of the company's turnover for the year by market is as follows:
|
2024 |
2023 |
|
|
UK |
|
|
|
Europe |
|
|
|
|
|
CLdN RoRo Agencies Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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Other gains and losses |
The analysis of the company's other gains and losses for the year is as follows:
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2024 |
2023 |
|
|
Gain/loss on disposal of property, plant and equipment |
|
|
|
Operating profit |
Arrived at after charging/(crediting)
|
2024 |
2023 |
|
|
Depreciation expense |
|
|
|
Bad debts |
(57,738) |
73,247 |
|
Foreign exchange losses/(gains) |
|
( |
|
Profit on disposal of property, plant and equipment |
( |
( |
CLdN RoRo Agencies Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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Staff costs |
The aggregate payroll costs were as follows:
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2024 |
2023 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
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Other employee expense |
|
|
|
|
|
The average number of persons employed by the company during the year, analysed by category was as follows:
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2024 |
2023 |
|
|
Administration and support |
38 |
33 |
|
Management |
2 |
2 |
|
|
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2024 |
2023 |
|
|
Remuneration |
|
|
|
Pension contributions |
|
|
|
159,268 |
157,616 |
During the year the number of directors who were receiving benefits and share incentives was as follows:
|
2024 |
2023 |
|
|
Accruing benefits under money purchase pension scheme |
|
|
|
Auditor's remuneration |
|
2024 |
2023 |
|
|
Audit of the financial statements |
|
|
CLdN RoRo Agencies Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Non audit fees payable to the company's auditor
|
2024 |
2023 |
|
|
Other assurance services |
|
|
|
Tax compliance services |
|
|
|
3,518 |
3,232 |
|
Taxation |
Tax charged/(credited) in the income statement
|
2024 |
2023 |
|
|
Current taxation |
||
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UK corporation tax |
|
|
|
UK corporation tax adjustment to prior periods |
|
- |
|
42,025 |
9,046 |
|
|
Deferred taxation |
||
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Arising from origination and reversal of timing differences |
( |
|
|
Tax expense in the income statement |
|
|
The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2023 - higher than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2024 |
2023 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Effect of income exempt from taxation |
( |
( |
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
|
Increase in UK and foreign current tax from adjustment for prior periods |
|
- |
|
Tax increase/(decrease) from effect of capital allowances and depreciation |
|
( |
|
Tax (decrease)/increase from other short-term timing differences |
( |
|
|
Total tax charge |
|
|
Deferred tax
Deferred tax assets and liabilities
|
2024 |
Asset |
|
Accelerated capital allowances |
|
|
Other timing differences |
|
|
|
CLdN RoRo Agencies Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
2023 |
Liability |
|
Accelerated capital allowances |
|
|
Other timing differences |
( |
|
|
Pillar Two legislation
The company is within the scope of PILLAR Two legislation. The PILLAR Two legislation has been enacted in the UK. Since the profit before tax for the company is liable to corporation tax at the prevailing rate of 25%, the directors do not expect that the legislation will have any material impact on the company.
|
Tangible assets |
|
Furniture, fittings and equipment |
Motor vehicles |
Total |
|
|
Cost or valuation |
|||
|
At 1 January 2024 |
|
|
|
|
Additions |
|
|
|
|
Disposals |
( |
( |
( |
|
At 31 December 2024 |
|
|
|
|
Depreciation |
|||
|
At 1 January 2024 |
|
|
|
|
Charge for the year |
|
|
|
|
Eliminated on disposal |
( |
( |
( |
|
At 31 December 2024 |
|
|
|
|
Carrying amount |
|||
|
At 31 December 2024 |
|
|
|
|
At 31 December 2023 |
|
|
|
CLdN RoRo Agencies Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Debtors |
|
2024 |
2023 |
|
|
Trade debtors |
|
|
|
Amounts owed by group undertakings |
|
- |
|
Other debtors |
|
|
|
Prepayments and accrued income |
|
|
|
Deferred tax assets |
|
- |
|
Total current trade and other debtors |
|
|
|
Cash and cash equivalents |
|
2024 |
2023 |
|
|
Cash at bank |
|
|
|
Creditors |
|
2024 |
2023 |
|
|
Due within one year |
||
|
Trade creditors |
|
|
|
Amounts due to group undertakings |
|
|
|
Social security and other taxes |
|
|
|
Other payables |
|
|
|
Accruals and deferred income |
|
|
|
|
|
|
Provisions for liabilities |
|
Deferred tax |
Total |
|
|
At 1 January 2024 |
|
|
|
Increase (decrease) in existing provisions |
( |
( |
|
At 31 December 2024 |
- |
- |
|
|
||
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
CLdN RoRo Agencies Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Share capital |
Allotted, called up and fully paid shares
|
2024 |
2023 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
3,000,000 |
|
1,000,000 |
There are no restrictions on the repayment of capital or the distribution of dividends.
During the year 2,000,000 ordinary shares of £1 each were allotted and issued at par, ranking pari-passu with the existing shares.
|
Related party transactions |
In accordance with FRS 102 paragraph 33.1A, exemption is taken not to disclose transactions in the year or amounts falling due between undertakings where 100% of the voting rights are controlled within the group.
|
Parent and ultimate parent undertaking |
The company's immediate parent undertaking is
The ultimate parent is
The parent of the smallest and largest group preparing group accounts incorporating the results of the company is CLdN Links SA whose financial statements are available online from the Luxembourg Business Registers. The registered address of CLdN Links SA is 3-7 rue-Schiller, L-2519, Luxembourg.