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Registered number: 14664354
ID LOGISTICS & TRANSPORT LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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ID LOGISTICS & TRANSPORT LIMITED
COMPANY INFORMATION
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Stuart William Evans (appointed 24 October 2024)
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Christophe Laurent Emile Patrice Satin
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Hill Dickinson LLP, 7th Floor, The Broadgate Tower
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Chartered Accountants and Statutory Auditor
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ID LOGISTICS & TRANSPORT LIMITED
CONTENTS
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Independent Auditors' Report
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Statement of Comprehensive Income
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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
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ID LOGISTICS & TRANSPORT LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
About ID Logistics and Transport Limited
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ID Logistics and Transport Limited was founded in February 2023 and has started its activities in June 2023. ID Logistics and Transport Limited is providing high standard logistics services to its customers. ID Logistics and Transport Limited is 100% owned by ID Logistics Group.
ID Logistics Group, headed by Eric Hémar, is an international contract logistics group with revenues of €3.3 billion in 2024. ID Logistics manages nearly 400 sites in 18 countries, representing more than 8 million sqm. operated in Europe, America, Asia and Africa, with 38,000 employees. With a customer portfolio balanced between retail, e-commerce and consumer goods, ID Logistics is characterized by offers involving a high level of technology. Since its creation in 2001, the Group has developed a social and environmental approach through a number of original projects and is now firmly committed to an ambitious CSR policy. ID Logistics shares are listed on the Euronext regulated market in Paris and are included in the SBF 120 index (ISIN code: FR0010929125, Mnemo: IDL).
Following the opening in 2023 of it’s first site in Northampton; ID Logistics successfully tendered and won an extension and expansion of the contract with its foundation client in 2024. This expansion involved taking on and re-locating operations to a new 65,000 sqm facility, also in Northampton. This expansion also involved incorporation of new colleagues into the business via a TUPE process and increasing the number of full time colleagues as a result. ID Logistics now has over 1000 colleagues working on site during peak, a significant uplift from 2023.
In the meantime, ID Logistics has continued to recruit and is now expanding on the core management team with depth to support future growth.
ID Logistics and Transport Ltd plans to use its agility as a light structure combined with the support of a major player like ID Logistics Group to win additional business. An energized UK sales team is in place to lead our growth strategy, coupled with commercial synergies with the rest of the ID Logistics Group.
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ID LOGISTICS & TRANSPORT LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Principal Risks and Uncertainties
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ID Logistics & Transport Ltd operates in the contract logistics sector, providing tailored supply chain solutions. While we strive for operational excellence, various risks, both internal and external, can impact our performance. The principal risks and uncertainties currently facing the Company include:
• Market and Economic Risks: Fluctuations in global trade, economic downturns, or changes in consumer demand may affect revenue streams.
• Regulatory and Compliance Risks: Shifts in transportation laws, labour regulations, or environmental policies could necessitate operational adjustments.
• Operational Risks: Supplier delays, inventory mismanagement, or disruptions in transportation networks may impact service delivery.
• Technological Risks: Cybersecurity threats or system failures could compromise data integrity and operational efficiency.
• Competitive Risks: Industry consolidation and emerging competitors may pose challenges to market positioning.
Risk Mitigation:
We actively monitor industry trends, diversify our supplier base, invest in digital security, and maintain contingency plans to ensure business continuity.
Conclusion
2024 has seen ID Logistics and Transport Ltd successfully continue its growth and development. We will continue our strategy to develop new contacts and build a strong reputation in the UK market, using our foundation operation as a platform. The Directors remain confident that our business model will enable us to continue to lead strong and stable operations in the UK and to further expand our activities.
This report was approved by the board on 23 September 2025 and signed on its behalf.
Stuart William Evans
Director
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ID LOGISTICS & TRANSPORT 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' responsibilities statement
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The directors are responsible for preparing the Strategic Report, the Directors' 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 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 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:
∙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;
∙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 to 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.
After assessing the company’s trading performance, future prospects and ongoing support from the Group, the directors believe the company will continue as a going concern.
The profit for the year, after taxation, amounted to £213,036 (10.5 months 2023 - £36,550).
There is no dividend to be paid in the period.
The directors who served during the year were:
Stuart William Evans (appointed 24 October 2024)
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Christophe Laurent Emile Patrice Satin
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ID LOGISTICS & TRANSPORT LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Disclosure of information to auditors
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Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and
∙the director 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.
Post balance sheet events
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The company has entered a lease agreement on the premises at Sandy Way, Grange Park, Northampton NN4 5EJ from the beginning of FY 2025.
The auditors, Constantin, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on 23 September 2025 and signed on its behalf.
Stuart William Evans
Director
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ID LOGISTICS & TRANSPORT LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ID LOGISTICS & TRANSPORT LIMITED
Report on the audit of the financial statements
Opinion
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In our opinion the financial statements of ID LOGISTICS & TRANSPORT LIMITED (the ‘company’):
∙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, including Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” ; and
∙have been prepared in accordance with the requirements of the Companies Act 2006.
We have audited the financial statements which comprise:
∙the statement of comprehensive income;
∙the statement of financial position;
∙the statement of changes in equity;
∙the related notes 1 to 21.
The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).
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 Financial Reporting Council’s (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
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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 financial statements are 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.
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ID LOGISTICS & TRANSPORT LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ID LOGISTICS & TRANSPORT LIMITED (CONTINUED)
The other information comprises the information included in the annual report other than the financial statements and our auditors' report thereon. The directors are responsible for the other information contained within the annual report. 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.
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.
Responsibilities of directors
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As explained more fully in the directors’ responsibilities statement, 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
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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.
A further description of our responsibilities for the audit of the financial statements is located on the FRC’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
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ID LOGISTICS & TRANSPORT LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ID LOGISTICS & TRANSPORT LIMITED (CONTINUED)
Extent to which the audit was considered capable of detecting irregularities, including fraud
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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 considered the nature of the company’s industry and its control environment, and reviewed the company’s documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management and the directors about their own identification and assessment of the risks of irregularities, including those that are specific to the company’s business sector.
We obtained an understanding of the legal and regulatory framework that the company operates in, and identified the key laws and regulations that:
∙had a direct effect on the determination of material amounts and disclosures in the financial statements. These included UK Companies Act, tax legislation; and
∙do not have a direct effect on the financial statements but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty.
We discussed among the audit engagement regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.
In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.
In addition to the above, our procedures to respond to the risks identified included the following:
∙reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
∙performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
∙enquiring of management and external legal counsel concerning actual and potential litigation and claims, and instances of non-compliance with laws and regulations; and
∙reading minutes of meetings of those charged with governance.
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ID LOGISTICS & TRANSPORT LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ID LOGISTICS & TRANSPORT LIMITED (CONTINUED)
Report on other legal and regulatory requirements
Opinions on other matters prescribed by the Companies Act 2006
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∙In our opinion, based on the work undertaken in the course of the audit:
the information given in the strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the strategic report and the directors’ report has been prepared in accordance with applicable legal requirements.
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 any material misstatements in the strategic report or the directors’ report.
Matters on which we are required to report by exception
Under the Companies Act 2006 we are required to report in respect of the following matters 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.
We have nothing to report in respect of these matters.
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 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 Bathgate FCA (Senior Statutory Auditor)
For and behalf of
Constantin
25 Hosier Lane
London
EC1A 9LQ
23 September 2025
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ID LOGISTICS & TRANSPORT LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR/PERIOD ENDED 31 DECEMBER 2024
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Interest receivable and similar income
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Profit for the financial year
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Other comprehensive income for the year
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Total comprehensive income for the year
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The notes on pages 12 to 24 form part of these financial statements.
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ID LOGISTICS & TRANSPORT LIMITED
REGISTERED NUMBER: 14664354
STATEMENT OF FINANCIAL POSITION
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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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 September 2025.
The notes on pages 12 to 24 form part of these financial statements.
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ID LOGISTICS & TRANSPORT LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2024
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Comprehensive income for the period 2023
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Other comprehensive income for the period
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Total comprehensive income for the period
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Contributions by and distributions to owners
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Shares issued during the period
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Total transactions with owners
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Comprehensive income for the year
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Other comprehensive income for the year
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Total comprehensive income for the year
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Total transactions with owners
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The notes on pages 12 to 24 form part of these financial statements.
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ID LOGISTICS & TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ID Logistics & Transport Limited is a private company, limited by shares, registered in England and
Wales. The company's registered office address is Hill Dickinson LLP, 7th Floor, The Broadgate Tower, 20 Primrose Street, London, England, EC2A 2EW. These financial statements are presented in pounds sterling which is the currency of the primary economic environment in which the Company operates and are rounded to the nearest £.
The prior period covers the 10.5 months from 15th February 2023 to 31 December 2023, therefore the information is not entirely comparable.
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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
We have continued to prepare the accounts on a going concern basis and deem this to be
appropriate. In making this assessment we have considered the likely trading conditions for a period
of twelve months from the date of our approval of these accounts.
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ID LOGISTICS & TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
∙the Company has transferred the significant risks and rewards of ownership to the buyer;
∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the transaction; and
∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
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.
Interest income is recognised in profit or loss using the effective interest method.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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.
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ID LOGISTICS & TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Current and deferred taxation
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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.
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.
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ID LOGISTICS & TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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The company has entered into a multi-year agreement with a customer, which necessitates the purchase of specific assets to deliver the required services under this contract. These assets are integral to fulfilling the terms of the contract and are expected to have minimal residual value upon completion of the agreement (Note 9).
Given the nature and intended use of these assets, the company has elected to depreciate them on a straight-line basis over the life of the customer contract.
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:
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over the remaining life of the customer contract, ending July 2027
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over the remaining life of the customer contract, ending July 2027
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over the remaining life of the customer contract, ending July 2027
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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.
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.
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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. 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.
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.
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ID LOGISTICS & TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experence and other factors that are not considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The directors consider there to be no key judgements or estimates in the preparation of the financial statements.
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ID LOGISTICS & TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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An analysis of turnover by class of business is as follows:
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Foreign exchange difference (loss)/gain
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ID LOGISTICS & TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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During the year, the Company obtained the following services from the Company's auditors:
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Fees payable to the Company's auditors for the audit of the Company's financial statements
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Staff costs were as follows:
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Cost of defined contribution scheme
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The average monthly number of employees, including the directors, during the year was as follows:
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ID LOGISTICS & TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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During the year retirement benefits were accruing to 1 director (2023 - NIL) in respect of defined contribution pension schemes.
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The highest paid director received remuneration of £23,333 (2023 - £NIL).
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The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £2,516 (2023 - £NIL).
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The total accrued pension provision of the highest paid director at 31 December 2024 amounted to £2,000 (2023 - £NIL).
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Other interest receivable
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ID LOGISTICS & TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Charge for the year on owned assets
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The balance of £918,044 is made up of computer equipment (£31,124) purchased in 2023 and a new conveyor system (£886,920) purchased in Q4 2024. The computer equipment will be recharged to the customer when in use as per the contract. The management of the Company have reviewed the assets at the balance sheet date and confirm that there is no damage or obsolescence of these assets. The conveyor system, which forms part of a large plant, will be recharged to the customer as per the contract.
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Prepayments and accrued income
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ID LOGISTICS & TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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Amounts owed to group undertakings
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ID LOGISTICS & TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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UK corporation tax on profits for the current period
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Adjustments in respect of prior periods
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Origination and reversal of timing differences
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Adjustment in respect of prior periods
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Taxation on profit on ordinary activities
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Factors affecting tax charge for the year
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The tax assessed for the year is the same as (2023: higher than) the standard rate of corporation tax in the UK of 25% (2023: 23.52%). The differences are explained below:
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Reconciliation of tax charge
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Profit on ordinary activities before tax
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Tax on profit on ordinary activities at standard CT rate of 25% (2023: 23.52%)
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Adjustments to tax charge in respect of previous periods - deferred tax
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Fixed asset timing differences
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Short term timing differences
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Total deferred tax (asset)/liability
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Charged / (credited) to the P&L
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(Asset) / liability at 31 December
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ID LOGISTICS & TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
15.Tax (continued)
Factors That May Affect Future Tax Charges
Finance Act 2021, which was substantively enacted on 24 May 2021, has enacted an increase in the UK corporation tax main rate to 25% from 1 April 2023.
As this rate change had been substantively enacted before the balance sheet date, the closing deferred tax assets and liabilities have been calculated at 25%, on the basis that this is the rate at which those assets and liabilities are expected to unwind.
Pillar Two of the Organisation for Economic Co-Operation and Development's (“OECD's”) Two Pillar Solution provides for the taxation of income of large groups at a minimum effective rate of 15% on a jurisdictional basis.
The Company is a wholly-owned subsidiary of ID Logistics SA, which is incorporated in France and is the ultimate parent undertaking for the Group. The Group is within scope of the OECD Pillar Two model rules.
Pillar Two legislation received Royal Assent on 11 July 2023 in the United Kingdom and applies to accounting periods beginning on or after 31 December 2023. Pillar Two will apply to the Group from the accounting period ended 31 December 2024. The Group’s assessment has considered the rules established by the Organization for Economic Cooperation and Development (OECD) released guidance. The preliminary view of the group is that many of the jurisdictions, where it operates, should benefit from the transitional Country by Country Reporting Safe Harbor and no material operations have been identified to have current domestic corporate tax rates below 15 percent.
The Company has applied the exception to recognising and disclosing information about deferred tax assets and liabilities related to Pillar Two income taxes, as provided in the amendments to Section 29 issued in July 2023.
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Allotted, called up and fully paid
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1 (2023 - 1) Ordinary Shares share of £1.00
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The Company operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the Company in an independently administered fund. The pension cost charge
represents contributions payable by the Company to the fund and amounted to £202,654 (2023 - £9,668). Contributions totalling £72,118 (2023 - £6,375) were payable to the fund at the reporting date and are included in other creditors.
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ID LOGISTICS & TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Related party transactions
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As at 31st December 2024 the intercompany loan balance repayable to ID Logistics S.A.S was £10,762,000 (2023 - £2,522,000). This is repayable in more than 1 year. ID Logistics & Transport Limited owed to other group companies £ 246,523 (2023 - £104,313) relating to intercompany transactions. This is repayable within 1 year. Intercompany accruals at the year-end totalled nil (2023 - £368,581). The 2023 accrual relates to management fees with ID Logistics S.A.S.
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Post balance sheet events
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The company has entered a lease agreement on the premises at Sandy Way, Grange Park, Northampton NN4 5EJ from the beginning of FY 2025.
The immediate parent is ID Logistics SAS registered in France. The ultimate parent is ID Logistics Group SA, also registered in France.
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Reclassification of prior year Packing cost
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The balance of FY23 Cost of Sales and Administrative expenses has changed due to reclassification of
Packing related purchase cost of £186,866 (Cost off Sales: Before: £7,659,856; After: £7,846,722; Admin
Expense: Before:£2,179,684; After:£1,992,818).
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