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Registered number: 02103631










URBAN LOGISTICS (UK) LIMITED










DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
URBAN LOGISTICS (UK) LIMITED
 
 
COMPANY INFORMATION


Director
Mr F Becker 




Company secretary
Mr M Ludwig



Registered number
02103631



Registered office
C/O Linde Material Handling (UK) Limited
Kingsclere Road

Basingstoke

Hampshire

RG21 6XJ




Independent auditors
Shaw Gibbs (Audit) Limited
Statutory Auditors

Wey Court West

Union Road

Farnham

Surrey

GU9 7PT




Bankers
J P Morgan
1 Knightsbridge

London

SW1X 7LX





 
URBAN LOGISTICS (UK) LIMITED
 

CONTENTS



Page
Director's report
 
2 - 3
Independent auditors' report
 
4 - 7
Statement of income and retained earnings
 
8
Statement of financial position
 
9
Notes to the financial statements
 
10 - 20


 
URBAN LOGISTICS (UK) LIMITED
 
 
 
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

The director presents his report and the financial statements for the year ended 31 December 2024.

Director's responsibilities statement

The director is responsible for preparing the Director's report 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he 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 for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK 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 to enable him to ensure that the financial statements comply with the Companies Act 2006He 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.

Principal activity

The principal activity of the company in the year under review was that of freight forwarders and haulage.

Results and dividends

The profit for the year, after taxation, amounted to £396,629 (2023 - £183,356).

No dividends were declared during the year (2023 - nil).

Director

The director who served during the year was:

Mr F Becker 

Page 2

 
URBAN LOGISTICS (UK) LIMITED
 
 
 
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024

Disclosure of information to auditors

The director at the time when this Director's report is approved has confirmed that:
 
so far as he is aware, there is no relevant audit information of which the Company's auditors are unaware, and

he has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

The auditorsShaw Gibbs (Audit) Limitedwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 







................................................
Mr F Becker
Director

Date: 11 June 2025

Page 3

 
URBAN LOGISTICS (UK) LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF URBAN LOGISTICS (UK) LIMITED
 

Opinion


We have audited the financial statements of Urban Logistics (UK) Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of income and retained earnings, the Statement of financial position and the related notes, including a summary of significant accounting policiesThe 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 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 United Kingdom, including the Financial Reporting Council'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.


Page 4

 
URBAN LOGISTICS (UK) LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF URBAN LOGISTICS (UK) LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The director is responsible for the other information contained within the Annual ReportOur 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. 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 course of 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.


Opinion 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 Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Director's report has been prepared in accordance with applicable legal requirements.


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 Director's report.


We have nothing to report in respect of the following matters in relation to which 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; or
the director was not entitled to take advantage of the small companies' exemption from the requirement to prepare a Strategic report.


Page 5

 
URBAN LOGISTICS (UK) LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF URBAN LOGISTICS (UK) LIMITED (CONTINUED)


Responsibilities of directors
 

As explained more fully in the Director's responsibilities statement set out on page 2, 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 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 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 have 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 an Auditors' 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.


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:
We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that 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 by, for example, forgery or intentional misrepresentations, or through collusion.
We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. 
Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.


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 Auditors' report.


Page 6

 
URBAN LOGISTICS (UK) LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF URBAN LOGISTICS (UK) LIMITED (CONTINUED)


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 2006Our 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 Auditors' 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.







Mark Dickinson FCA (Senior statutory auditor)
for and on behalf of
Shaw Gibbs (Audit) Limited
Statutory Auditors
Wey Court West
Union Road
Farnham
Surrey
GU9 7PT

18 July 2025
Page 7

 
URBAN LOGISTICS (UK) LIMITED
 
 
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023
Note
£
£

  

Turnover
 3 
9,010,811
8,877,682

Cost of sales
  
(7,047,514)
(7,369,554)

Gross profit
  
1,963,297
1,508,128

Administrative expenses
  
(1,542,995)
(1,341,320)

Other operating income
 4 
-
1,342

Operating profit
 5 
420,302
168,150

Interest receivable and similar income
 8 
99,958
74,907

Interest payable and similar expenses
 9 
-
(36)

Profit before tax
  
520,260
243,021

Tax on profit
 10 
(123,631)
(59,665)

Profit after tax
  
396,629
183,356

  

  

Retained earnings at the beginning of the year
  
715,840
532,484

Profit for the year
  
396,629
183,356

Retained earnings at the end of the year
  
1,112,469
715,840

There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of income and retained earnings.

The notes on pages 10 to 20 form part of these financial statements.

Page 8

 
URBAN LOGISTICS (UK) LIMITED
REGISTERED NUMBER: 02103631

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 11 
142,554
109,111

Current assets
  

Debtors: amounts falling due within one year
 12 
3,611,126
3,003,016

Creditors: amounts falling due within one year
 13 
(1,591,209)
(1,346,285)

Net current assets
  
 
 
2,019,917
 
 
1,656,731

Total assets less current liabilities
  
2,162,471
1,765,842

  

Net assets
  
2,162,471
1,765,842


Capital and reserves
  

Called up share capital 
 14 
1,050,002
1,050,002

Profit and loss account
 15 
1,112,469
715,840

  
2,162,471
1,765,842


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






................................................
Mr F Becker
Director

Date: 11 June 2025

The notes on pages 10 to 20 form part of these financial statements.

Page 9

 
URBAN LOGISTICS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Urban Logistics (UK) Limited (02103631) is a private company limited by shares and incorporated in England & Wales. Its registered office is Kingsclere Road, Basingstoke, Hampshire, RG21 6XJ.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The accounts are presented in Sterling and rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Kion Group AG as at 31 December 2024 and these financial statements may be obtained from Company Secretary, Linde Holdings Limited, Kingsclere Road, Basingstoke, RG21 6XJ.

Page 10

 
URBAN LOGISTICS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

Foreign currency translation

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.

 
2.4

Revenue

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. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 11

 
URBAN LOGISTICS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

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.

 
2.9

Taxation

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.


 
2.10

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.

The estimated useful lives range as follows:

Leasehold property improvements
-
5 to 10 years
Fixtures and fittings
-
5 to 10 years

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.

Page 12

 
URBAN LOGISTICS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

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.

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.

Page 13

 
URBAN LOGISTICS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.14
Financial instruments (continued)

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.


3.


Turnover

The whole of the turnover is attributable to the principal activity of the company.

Analysis of turnover by country of destination:

2024
2023
£
£

United Kingdom
8,886,319
8,735,595

Rest of Europe
124,492
142,087

9,010,811
8,877,682



4.


Other operating income

2024
2023
£
£

Insurance claims receivable
-
1,342



5.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Depreciation of tangible fixed assets
51,440
44,842

Exchange differences
(8,391)
11,115

Other operating lease rentals
89,417
48,573

Defined contribution pension cost
41,455
48,033

Page 14

 
URBAN LOGISTICS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors and their associates:


2024
2023
£
£

Fees payable to the Company's auditors and their associates for the audit of the Company's financial statements
20,500
22,225

Fees payable to the Company's auditors and their associates in respect of:

All non-audit services not included above
9,268
6,630


7.


Employees

Staff costs were as follows:


2024
2023
£
£

Wages and salaries
952,083
859,468

Social security costs
123,743
80,172

Cost of defined contribution scheme
41,455
48,033

1,117,281
987,673


The average monthly number of employees, including the director, during the year was as follows:


        2024
        2023
            No.
            No.







Administrative and managerial
20
18



Warehouse and technical
4
4

24
22

During the year and the preceding year, the director was remunerated for his services to the company by other group companies. It is not practicable to split his remuneration between the various companies within the group.
Key management remuneration
Remuneration to the key management team of the company totalled £282,736 (2023 - £282,377).

Page 15

 
URBAN LOGISTICS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Interest receivable

2024
2023
£
£


Interest receivable from group companies
99,958
74,907


9.


Interest payable and similar expenses

2024
2023
£
£


Loans from group undertakings
-
36
Page 16

 
URBAN LOGISTICS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
125,651
62,720

Adjustments in respect of previous periods
(2,020)
(3,055)


Total current tax
123,631
59,665

Factors affecting tax charge for the year

The tax assessed for the year is lower than (2023 - lower than) the standard rate of corporation tax in the UK of 25% (2023 - 25%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
520,260
243,021


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 25%)
130,065
60,755

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
4,048
86

Capital allowances for year in excess of depreciation
(11,893)
5,809

Adjustments to tax charge in respect of prior periods
(2,020)
(3,055)

Changes in provisions leading to an increase (decrease) in the tax charge
1,024
15

Changes in tax rates leading to an increase (decrease) in the tax charge
2,407
(3,945)

Total tax charge for the year
123,631
59,665


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 17

 
URBAN LOGISTICS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


Tangible fixed assets





Leasehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 January 2024
116,240
237,772
354,012


Additions
-
87,487
87,487



At 31 December 2024

116,240
325,259
441,499



Depreciation


At 1 January 2024 
83,958
160,943
244,901


Charge for the year on owned assets
10,762
43,282
54,044



At 31 December 2024

94,720
204,225
298,945



Net book value



At 31 December 2024
21,520
121,034
142,554



At 31 December 2023
32,282
76,829
109,111


12.


Debtors

2024
2023
£
£


Trade debtors
2,331,863
451,966

Amounts owed by group undertakings
1,164,469
2,548,769

Other debtors
103,277
6

Prepayments and accrued income
11,517
2,275

3,611,126
3,003,016


Page 18

 
URBAN LOGISTICS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

13.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
817,279
634,312

Corporation tax
205,251
81,620

Other taxation and social security
78,409
102,834

Other creditors
345,066
361,607

Accruals and deferred income
45,204
65,912

Share capital treated as debt
100,000
100,000

1,591,209
1,346,285



14.


Share capital

2024
2023
£
£
Shares classified as equity

Allotted, called up and fully paid



1,050,002 (2023 - 1,050,002) Ordinary shares of £1.00 each
1,050,002
1,050,002

2024
2023
£
£
Shares classified as debt

Allotted, called up and fully paid



100,000 (2023 - 100,000) Ordinary redeemable shares of £1.00 each
100,000
100,000


The redeemable ordinary shares noted above may be redeemed at par at the shareholders', or the company's request, upon 30 days notice or on 31 December 2050. The shares rank equally to the ordinary shares.


15.


Reserves

Profit and loss account

This reserve includes all current and prior period retained profits and losses.

Page 19

 
URBAN LOGISTICS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

16.


Pension commitments

The Company operates a defined contributions pension scheme for the benefit of employees. The assets of the scheme are administered by an independent pensions provider. Pension payments recognised as an expense during the year amounted to £41,455 (2023 - £48,033). Contributions totalling £8,061 (2023 - £7,006) were payable to the fund at the balance sheet date and are included within creditors.


17.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
216,817
45,392

Later than 1 year and not later than 5 years
637,432
124,439

854,249
169,831


18.


Related party transactions

The Company is consolidated within the publicly available accounts of KION Group AG. The Company has taken advantage of the exemption conferred by section 33 in Financial Reporting Standard 102 "Related party disclosures" not to disclose transactions with wholly owned members of the group. 
Copies of these consolidated financial statements can be obtained from the Company Secretary, Linde Holdings Limited, Kingsclere Road, Basingstoke, RG21 6XJ.


19.


Controlling party

The ultimate parent undertaking and controlling party is KION Group AG which is listed on the Frankfurt Stock Exchange.
The immediate parent undertaking is Urban-Transporte GmbH, a company incorporated in Germany.
The largest group for which consolidated financial statements are produced is KION Group AG, whose consolidated accounts are publicly available. Copies of these financial statements can be obtained from the Company Secretary, Linde Holdings Limited, Kingsclere Road, Basingstoke, RG21 6XJ .

 
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