REGISTERED NUMBER: 12123857 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Deliverect Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J P Laredo

Z Y Xu

SECRETARY:

MYUKOFFICE LTD

REGISTERED OFFICE:

8 Northumberland Avenue

London

WC2N 5BY

REGISTERED NUMBER:

12123857 (England and Wales)

AUDITORS:

Try Lunn & Co

Chartered Accountants

and Statutory Auditors

Roland House

Princes Dock Street

HULL HU1 2LD

FIXED ASSETS

Tangible assets

4

35,825

56,695

CURRENT ASSETS

Debtors

5

640,573

411,793

Cash at bank

412,489

290,962

1,053,062

702,755

CREDITORS

Amounts falling due within one year

6

410,493

378,036

NET CURRENT ASSETS

642,569

324,719

TOTAL ASSETS LESS CURRENT LIABILITIES

678,394

381,414

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

678,294

381,314

SHAREHOLDERS' FUNDS

678,394

381,414

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 30 September 2025 and were signed on its behalf by:

Z Y Xu - Director

1.	STATUTORY INFORMATION

Deliverect Ltd 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.

The company is dependent on the continued financial support of Deliverect NV. The directors of Deliverect NV have agreed to provide continued financial support to ensure the company will be able to trade as a going concern for the foreseeable future.

Tangible fixed assets

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

Computer equipment - 25%

Taxation

Taxation for the year comprises current and deferred 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.

Hire purchase and leasing commitments

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

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 37 (2023 - 39 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

117,122

Additions

7,723

At 31 December 2024

124,845

DEPRECIATION

At 1 January 2024

60,427

Charge for year

28,593

At 31 December 2024

89,020

NET BOOK VALUE

At 31 December 2024

35,825

At 31 December 2023

56,695

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

296,327

-

Other debtors

344,246

411,793

640,573

411,793

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

52,568

15,863

Amounts owed to group undertakings

-

33,459

Taxation and social security

36,123

16,961

Other creditors

321,802

311,753

410,493

378,036

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

1

100

100

8.

RESERVES

Retained

earnings

£

At 1 January 2024

381,314

Profit for the year

296,980

At 31 December 2024

678,294

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

The Report of the Auditors was unqualified.

Andrew Ewart FCA FCCA (Senior Statutory Auditor)

for and on behalf of Try Lunn & Co

10.	RELATED PARTY DISCLOSURES

During the year the company charged management fees under normal commercial terms totalling £4,895,605 (2023: £4,618,413) to Deliverect NV, the parent company of Deliverect Limited.

During the year Deliverect NV paid for expenditure totalling £Nil (2023: £1,218,413) on behalf of Deliverect Limited.

During the year Deliverect NV loaned the company £4,587,886 (2023: £3,400,000) for working capital.

At the balance sheet date an amount of £296,327 was owed to the company by Deliverect NV (2023: £33,459 owed to Deliverect NV).

Deliverect NV charged interest of £26,112 (2023: £40,999) to Deliverect Limited during the year. This amount is unpaid and was included in the above year end balances.

11.	ULTIMATE CONTROLLING PARTY

The immediate controlling party is Deliverect NV. There is no ultimate controlling party.