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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2024
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CUSTOMS CLEARANCE LIMITED
COMPANY INFORMATION
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CUSTOMS CLEARANCE LIMITED
CONTENTS
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CUSTOMS CLEARANCE LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The principal activity of the company in the year under review continues to be gateway logistics, customs clearance and consultation and international freight forwarding.
Business review CCL, like other worldwide logistics providers, faced challenges in 2023 caused by slow recovery in the global economy. In 2024, factors such as increases of air-linehaul and airline handling rates, operational and IT changes in UK customs systems, which required continuous communication with customs and focus on compliance, were part of additional challenges during the year. 2024 was the year for new opportunities, diversification of services and building up strategic partnerships, which resulted in maintaining reasonable revenue figures throughout the year. Besides the challenges in 2023, CCL faced additional key challenges due to advanced technologies, evolving market demands, and global disruptions in the past year. Some of the most significant challenges include technological adaptation, automation to match the client’s requirements, the integration of new technologies with legacy systems and cybersecurity concerns due to increased digitalization and data-driven logistics were necessary but required significant investment. Finally, another challenge to mention is the supply chain disruptions due to ongoing geopolitical conflicts, such as the Russia-Ukraine war and tensions in the South China Sea which continue to affect trade routes. In addition, climate change provokes disruptions such as extreme weather events and impacts transportation networks. Therefore, to stay competitive despite facing various challenges in 2024, Customs Clearance Limited has focused on technology adoption and developments, operational efficiency, and supply chain resilience while balancing costs and customer expectations. CCL has improved the internal process of compliance checks and continues working in this area. Overcoming challenges, CCL has strengthened its service offering, restored customer confidence and driven trade. CCL developed new partnerships to handle additional facilities and secured cost-effective pricing from reliable companies for newly developed projects. Import solutions for certain markets have been developed, turning challenges into opportunities. Future opportunities for diversifying supply chains to reduce dependency on single suppliers or regions are key. CCL is also focused on promoting volume growth in certain businesses supported by IT developments and integration with existing customers. CCL plans to continue driving efforts on cost control measures, employee development, service improvement to ensure continued success, and managing current accounts effectively. Future developments CCL continues to focus on geographical markets developments including those where we predict local GDP growth, e.g., EMEA, South America and southeast Asia (i.e. Vietnam) etc. We are investigating and evaluating possible niche markets such as EV cars from China into the UK market, flowers from EU and LATAM countries, ceramics from EU and the developing CBD market. CCL continues to focus on services where we have excellent relationships with suppliers and customers, including diversification of importing lines, fulfilment service, B2C and B2B projects and last mile. Pre-lodgment is still an excellent selling point, and we can complete the loop by offering reverse logistics and duty drawback services. Additionally, when the volume increases, we are planning to divert road and sea freight volume to third-party facilities while continuing to handle air freight volume at the CCL facility, which will impact positively on our sales revenue. We will continue building connections with shippers and business consignees in the UK for export services.
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CUSTOMS CLEARANCE LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Risks and uncertainties
Credit Risk The company trades only with recognised, creditworthy third parties. It is the company’s policy that all customers who wish to trade on credit terms are subject to credit vetting procedures. In addition, receivable balances are monitored on an ongoing basis. Currency Risk The amount of the company’s sales and purchases in foreign currencies is not significant. The directors monitor on an ongoing basis the currency risk arising for the company and ensures that risk remains at an acceptable level. Brexit On 31 January 2020, the United Kingdom formally withdrew from the EU and on 24 December 2020 the UK and EU announced they had entered a post-Brexit deal on certain aspects of trade and other strategic and political issues. This withdrawal has created political and economic uncertainty which may last for years. In 2022 our business was negatively affected by new trade agreements between the UK and EU countries and by regulatory barriers in the UK. However, we took measures to mitigate the impact of Brexit and implemented new import routes, such as Sea Freight and Road Freight. In 2023-2024, the company overcame negative effects of Brexit and demonstrated performance improvement. We will continue to monitor the uncertainties around Brexit and search for business opportunities. Conflict in Ukraine The invasion of Ukraine by the Russian Federation, which started on 24 February 2022 and was followed by sanctions imposed on Russia, is expected to have long-lasting effects on worldwide fuel prices as well as some imports from Russia and Ukraine, and, as a result, on the economy worldwide. CCL does not have clients and operations in Russia and Ukraine. The Lenton group stopped providing services with Russia and Ukraine from the week following 24 February 2022. GeoPost, the majority shareholder of Lenton group, which had operations in Russia (DPD Russia), closed its operations in Russia post 24 February 2022. UK economy and inflation The annual UK inflation rate significantly grew in previous years, up to 10.5% in 2022 due to fuel and commodity price increases leading to a cost-of-living crisis. After measures taken in 2023, the annual UK inflation rate decreased to 4% in 2023 and 2.5% in 2024, and then slightly rose to 3% in January 2025. The Bank of England expects inflation to rise to 3.7% by Q3 2025, before easing slowly back to 2.0% in Q4 2027. Although the UK economy demonstrated recovery after the sharp change in the fuel prices of 2022, businesses are challenged by increased payroll costs following increases in the National Insurance Contribution and minimum wage rates. CCL’s business opportunities continue to include cheaper product imports and purchases from abroad, flexible pricing policy and pairing with business partners, including transport companies. CCL concentrates on growing its client base while keeping commitment to high industry standards in services. The company predicts profitable developments for coming years. 2025 is expected to be close to 2024 performance-wise, and the company has sufficient own funds and overall international group support to overcome any temporary performance decline should it occur.
The directors monitor the performance of the company by reference to turnover, gross profit margin and overall net profit. Turnover for the year was £10,695,870 (2023 - £13,130,299), gross profit margin was 46.6% (2023 - 40.1%) and overall net profit before tax was £589,444 (2023 - £1,218,192). The reasons for the changes in these KPIs are provided in the above business review.
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CUSTOMS CLEARANCE LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
This report was approved by the board on 13 June 2025 and signed on its behalf.
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CUSTOMS CLEARANCE 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.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
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;
∙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 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.
The profit for the year, after taxation, amounted to £368,781 (2023 - £963,310).
The company declared dividends of £400,000 (2023 - £Nil) during the year of which £300,000 was used to settle a loan owed by Linehaul Express Limited to the Company, and was not settled in cash. Going concern The Company’s business activities, together with the factors likely to affect its future development and its financial position, are set out in the Strategic Report. The financial statements have been prepared on a going concern basis. The directors have considered the impact of Brexit, Ukraine and the cost-of-living increase may have on the Company and prepared cashflow forecasts for the period of 12 months from the date of signing the annual report. In the unlikely scenario that there is a prolonged decrease in demand for services and that the future contracts that the Company is targeting do not proceed, the Company still has adequate resources to continue operations and the directors conclude, therefore, that adopting the going concern basis of accounting in preparing the annual financial statements is appropriate.
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CUSTOMS CLEARANCE LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors who served during the year were:
The Company's policies regarding principal and financial risk management, along with future developments, are included in the Strategic report.
Directors' confirmations In the case of each director in office at the date the Directors' report is approved:
∙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.
The auditors, Barnes Roffe Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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CUSTOMS CLEARANCE LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CUSTOMS CLEARANCE LIMITED
We have audited the financial statements of Customs Clearance Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
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.
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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CUSTOMS CLEARANCE LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CUSTOMS CLEARANCE 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.
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 have 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 material misstatements in the Strategic report or the Directors' report.
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CUSTOMS CLEARANCE LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CUSTOMS CLEARANCE LIMITED (CONTINUED)
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. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with law and regulations, was as follows: - Companies Act 2006. - FRS102. - Employment legislation. - Tax legislation.
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CUSTOMS CLEARANCE LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CUSTOMS CLEARANCE LIMITED (CONTINUED)
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur by:
∙Making enquiries of management as to where they consider there was susceptibility to fraud and their knowledge of actual suspected and alleged fraud;
∙Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;
∙Reviewing the financial statements and testing the disclosures against supporting documentation;
∙Performing analytical procedures to identify any unusual or unexpected trends or anomalies;
∙Inspecting and testing journal entries to identify unusual or unexpected transactions;
∙Assessing whether judgement and assumptions made in determining significant accounting estimates were indicative of management bias; and
∙Investigating the rationale behind significant transactions, or transactions that are unusual or outside the company’s usual course of business.
The areas that we identified as being susceptible to misstatement through fraud were:
∙Management bias in the estimates and judgements made;
∙Management override of controls; and
∙Posting of unusual journals or transactions.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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.
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CUSTOMS CLEARANCE LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CUSTOMS CLEARANCE LIMITED (CONTINUED)
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.
for and on behalf of
Chartered accountants & Statutory Auditors
3 Brook Business Centre
Cowley Mill Road
Middlesex
UB8 2FX
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CUSTOMS CLEARANCE LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
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CUSTOMS CLEARANCE LIMITED
REGISTERED NUMBER: 03719890
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 14 to 27 form part of these financial statements.
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CUSTOMS CLEARANCE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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CUSTOMS CLEARANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Customs Clearance Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is Unit 4 Radius Park, Faggs Road, Feltham, Middlesex, TW14 0NG.
The company's principal activity is that of an import and export broker.
2.Accounting policies
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 (see note 3).
The following principal accounting policies have been applied:
The Company has taken exemption from producing a cashflow as it is included in the ultimate parent company's consolidated financial statements.
The Company’s business activities, together with the factors likely to affect its future development and its financial position are set out in the Strategic Report.
The financial statements have been prepared on a going concern basis. The directors have considered the impact of Brexit and the commodity price increase followed by the cost of living increase may have on the Company and prepared cashflow forecasts for the period of 12 months from the date of signing the annual report. In the unlikely scenario that there is a prolonged decrease in demand for services and that the future contracts that the Company is targeting do not proceed, the Company still has adequate resources to continue operations and the directors conclude, therefore, that adopting the going concern basis of accounting in preparing the annual financial statements is appropriate.
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CUSTOMS CLEARANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The Company has contracts where the period between the transfer of the promised goods or services to the customer and payment by the customer exceeds one year. As a consequence, the Company adjusts the transaction prices of these contracts for the time value of money. A receivable is recognised when the goods are delivered as this is the point in time that the consideration is unconditional because only the passage of time is required before the payment is due. For fixed-price contracts, revenue is recognised based on the actual service provided to the end of the reporting period as a proportion of the total services to be provided because the customer receives and uses the benefits simultaneously. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided at the point when the service has been completed, and all the following conditions are satisfied: 1. the amount of revenue can be measured reliably; 2. it is probable that the Company will receive the consideration due under the contract; 3. the costs incurred to complete the contract can be measured reliably. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Software and website development costs are capitalised as intangible fixed assets if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. The estimated useful lives range as follows: Software and website development costs - 3-5 years
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CUSTOMS CLEARANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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:
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 the Statement of comprehensive income.
Creditors are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method.
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CUSTOMS CLEARANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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 the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'other operating income'.
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CUSTOMS CLEARANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
1. Determine whether trade debtors are recoverable. Factors taken into consideration include credit insurance and expected recovery. 2. Cost of sales accruals are based on percentage of revenue or percentage of profit where appropriate as an estimate of the actual cost incurred.
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CUSTOMS CLEARANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Analysis of turnover by country of destination:
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CUSTOMS CLEARANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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CUSTOMS CLEARANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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CUSTOMS CLEARANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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CUSTOMS CLEARANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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CUSTOMS CLEARANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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CUSTOMS CLEARANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Profit and loss account
There is an ongoing claim by HMRC against the company and other import agents relating to the purported under-value declaration of goods by overseas sellers. As at 31 December 2024 the potential claim is for £1.34m (2023 - £900k).
The company is currently in discussions with, and taking part in an industry action with, HMRC regarding this matter as the valuation methods and basis used by HMRC are disputed. The timing of concluding this issue is uncertain. In previous years, deposits from overseas customers were held for various purposes, including mitigation of part of the costs, should the investigation be upheld by HMRC. Some of these deposits have been utilised by these customers in the usual course of business.
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CUSTOMS CLEARANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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 £44,281 (2023 - £41,321).
22.Related party transactions
During the year, the company made sales to related parties of £3,334,132 (2023 - £2,651,708), including £2,905,276 (2023 - £2,266,475) to Geopost Group companies and £428,856 (2023 - £385,233) to Lenton Group companies. During the year, the company made purchases from related parties of £863,854 (2023 - £2,003,403), including £686,059 (2023 - £1,577,624) from Geopost Group companies and £177,795 (2023 - £425,778) from Lenton Group companies. During the year, the company made purchases from a company owned by one of the company’s directors of £477 (2023 - £1,872).
At the year-end, the amount owed by related parties was £457,115 (2023 - £725,025), including trade-related debtors of £457,115 (2023 - £425,025) and a loan balance of £Nil (2023 - £300,000). The trade-related debtor includes £114,853 (2023 - £522,137) owed by Lenton Group companies and £342,262 (2023 - £203,437) by Geopost Group companies. The loan balance of £Nil (2023 - £300,000) was owed by a Lenton Group company. Further details of related party debtors are disclosed in Note 14. At the year-end, the amount owed to related parties was £333,684 (2023 - £513,213) including £317,828 (2023 - £434,427) to Lenton Group companies and £15,856 (2023 - £78,786) to Geopost Group companies. Further details of related party creditors are disclosed in Note 16.
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CUSTOMS CLEARANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The Company’s immediate parent undertaking is Linehaul Express Limited, incorporated in UK (England & Wales). The parent undertaking of the smallest group of undertakings for which group accounts are prepared and of which the Company is a member is Linehaul Express (HK) Ltd, a company incorporated in Hong Kong. Copies of the financial statements of Linehaul Express (HK) Ltd, can be obtained from Linehaul Express (HK) Ltd Financial Department Unit 907-910, 118 Connaught Road West, Hong Kong.
The immediate holding company is Lenton Group Ltd, incorporated in Hong Kong, which is a parent undertaking of Linehaul Express (HK) Ltd. It has a registered address of: Unit 907-910, 118 Connaught Road West, Sheung Wan, Hong Kong. The ultimate parent company is considered to be Le Groupe La Poste, incorporated in France, which is the highest company in the chain and which annual financial statements are publicly available on its website: https://www.groupelaposte .com the ultimate controlling party is the
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