REGISTERED NUMBER: 07332292 (England and Wales)

Seaway Logistics Limited

Financial Statements for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R M A Clarke

J I Doyle

S J Rix

T J Rix

D J Lambert

B Godby

N J Allen

R E Wilde

H J Rix

M Fry

REGISTERED OFFICE:

2 Humber Quays

Wellington Street West

Hull

East Yorkshire

HU1 2BN

REGISTERED NUMBER:

07332292 (England and Wales)

AUDITORS:

Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

CURRENT ASSETS

Stocks

1,591

-

Debtors

5

196,133

220,914

Cash at bank

213,569

197,589

411,293

418,503

CREDITORS

Amounts falling due within one year

6

274,821

281,191

NET CURRENT ASSETS

136,472

137,312

TOTAL ASSETS LESS CURRENT LIABILITIES

136,472

137,312

CAPITAL AND RESERVES

Called up share capital

7

49

49

Capital redemption reserve

51

51

Retained earnings

136,372

137,212

SHAREHOLDERS' FUNDS

136,472

137,312

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2025 and were signed on its behalf by:

T J Rix - Director

R E Wilde - Director

1.	STATUTORY INFORMATION

Seaway Logistics Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The accounts have been prepared on the going concern basis because of the continuing support of the parent company.

Turnover

Turnover represents the amounts derived from the provision of services which fall within the company's continuing ordinary activity, stated net of value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Motor Vehicle - Straight line over 2 years

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises of current tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

12,750

DEPRECIATION

At 1 January 2024

and 31 December 2024

12,750

NET BOOK VALUE

At 31 December 2024

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

158,701

187,268

Other debtors

37,432

33,646

196,133

220,914

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

60,005

18,357

Amounts owed to group undertakings

150,183

212,689

Corporation tax

17,000

19,000

Accruals and deferred income

47,633

31,145

274,821

281,191

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

49

Ordinary

1

49

49

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Stocks FCA (Senior Statutory Auditor)

for and on behalf of Smailes Goldie

9.	CONTINGENT LIABILITIES

The company is party to an unlimited debenture, omnibus guarantee and set-off agreement in favour of Lloyds Banking Group in respect of borrowings. The potential liability under this agreement amounted to £45,895,166 (2023: £47,449,197).

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11.	ULTIMATE CONTROLLING PARTY

The parent company of the group of undertakings for which group financial statements are drawn up

and of which the company is a member is J. R. Rix & Sons Limited, registered in England and Wales.

J. R. Rix & Sons Limited is also the company's ultimate parent undertaking and its registered office is 2

Humber Quays, Wellington Street West, Hull, HU1 2BN. The only group in which the results of the

company are consolidated is J. R. Rix & Sons Limited, and these can be obtained from Companies

House.

J. R, Rix & Sons Limited has no ultimate controlling party.