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Registered number: 12253035
SOS Event Logistics Limited
Financial statements
For the year ended 31 December 2024
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SOS Event Logistics Limited
Registered number: 12253035
Balance sheet
As at 31 December 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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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 on 30 June 2025.
The notes on pages 2 to 8 form part of these financial statements.
Page 1
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SOS Event Logistics Limited
Notes to the financial statements
For the year ended 31 December 2024
SOS Event Logistics Limited is a private company limited by shares and is incorporated in England & Wales. The address od the registered office is 168 Shoreditch High Street, London, England, E1 6RA. The principal activity is the provision of transportation support activities.
2.Accounting policies
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Basis of preparation of financial statements
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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:
The financial statements have been prepared on a going concern basis. The Directors are of the opinion that with the restructuring of trade during 2023 and into 2024 and under the new ownership of the Global Critical Limited group, the company has the financial support to continue for the foreseeable future.
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each 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.
Page 2
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SOS Event Logistics Limited
Notes to the financial statements
For the year ended 31 December 2024
2.Accounting policies (continued)
Turnover comprises the fair value of the consideration received and receivable for the provision of the transport services in the ordinary course of the Company's activities. Turnover is shown net of Value Added Tax, other sales taxes, and customer discounts.
The Company recgonises turnover from contracts with customers when the following criteria have been met:
∙Provision of transport services are recognised proportionally over the duration of the services or hire period.
Turnover recognised in profit and loss but not yet invoiced is held on the Balance Sheet within accrued income. Turnover invoiced but not yet recognised in profit and loss is held on the Balance Sheet within deferred income.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
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 balance sheet 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 balance sheet 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.
Page 3
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SOS Event Logistics Limited
Notes to the financial statements
For the year ended 31 December 2024
2.Accounting policies (continued)
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 balance sheet date.
Short-term debtors are measured at transaction price, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short-term creditors are measured at the transaction price.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Page 4
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SOS Event Logistics Limited
Notes to the financial statements
For the year ended 31 December 2024
2.Accounting policies (continued)
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Financial instruments (continued)
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Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
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 the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Page 5
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SOS Event Logistics Limited
Notes to the financial statements
For the year ended 31 December 2024
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Judgments in applying accounting policies and key sources of estimation uncertainty
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Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believe to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. There were no estimates that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year but the directors have had to make the following judgment:
∙Determine whether ther are indicators of impairment of the Company's amounts owed from group undertakings. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the group undertakings and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.
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The average monthly number of employees, including directors, during the year was 11 (2023 - 11).
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The company owns 49% of the share capital of S O S Cargo Services L.L.C, a company incorporated in the United Arab Emirates, registered office address Bur Dubai, Trade Centre 2, Dubai, United Arab Emirates.
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Amounts owed by group undertakings
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Prepayments and accrued income
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Amounts owed by group undertakings are unsecured, repayable on demand and interest free.
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Page 6
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SOS Event Logistics Limited
Notes to the financial statements
For the year ended 31 December 2024
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Accruals and deferred income
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There is a charge over the assets of the company in favour of Barings Bank Plc to guarantee a loan with the group undertakings. The balances at 31 December 2024 were $41,244,290 and £15,889,745.
The company has taken advantage of the exemption from disclosing transactions with other wholly-owned members of the group headed by Global Critical Logistics Limited, qualifying as related parties in accordance with section 33 of FRS 102.
The consolidated financial statements of Global Critical Logistics Limited, the parent company of the smallest group to consolidate these financial statements in the United Kingdom, may be obtained from Companies House.
Up until the 31 January 2024, the ultimate parent and controlling party was NEP Group Holdings, LP., an entity incorporated in Delaware, USA. NEP Group Holdings, Inc., an intermediate parent company was the parent undertaking of the largest group to consolidate these financial statements and these financial statements are not publicly available. The registered office of NEP Group Holdings, Inc. is 2 Beta Drive, Pittsburgh, PA 15238, USA.
From the 31 January 2024, the company's immediate parent company became RICH Forwarding Limited, a company registered in England and Wales, whose registered office is 2nd Floor, 168 Shoreditch High Street, London, United Kingdom, E1 6RA.
The ultimate parent undertaking became ATL RIC LP, a company registered in the Cayman Islands, and in which no individual has a controlling interest.
Page 7
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SOS Event Logistics Limited
Notes to the financial statements
For the year ended 31 December 2024
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.
The audit report was signed on 4 July 2025 by Robert Sellers FCCA (Senior statutory auditor) on behalf of Kreston Reeves LLP.
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