REGISTERED NUMBER: 14314620 (England and Wales)

BLUE LOGISTICS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mr J L Martinez Urroz

Mr G G Pask

Mr N Pask

REGISTERED OFFICE:

Building 1063

Cornforth Drive

Kent Science Park

Sittingbourne

Kent

ME9 8PX

BUSINESS ADDRESS:

Otterpool Quarry

Ashford Road

Sellindge

Kent

TN25 6DA

REGISTERED NUMBER:

14314620 (England and Wales)

AUDITORS:

McCabe Ford Williams

Statutory Auditors and Chartered Accountants

Building 1063

Cornforth Drive

Kent Science Park

Sittingbourne

Kent

ME9 8PX

FIXED ASSETS

Tangible assets

5

39,555

29,301

CURRENT ASSETS

Debtors

6

123,281

135,292

Cash at bank

65,644

107,363

188,925

242,655

CREDITORS

Amounts falling due within one year

7

549,211

523,136

NET CURRENT LIABILITIES

(360,286

)

(280,481

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(320,731

)

(251,180

)

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

(320,732

)

(251,181

)

SHAREHOLDERS' FUNDS

(320,731

)

(251,180

)

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:

Mr N Pask - Director

1.	STATUTORY INFORMATION

Blue 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The previous accounting period was an extended period and accordingly the comparative figures are not necessarily comparable with the current year.

Related party exemption

The company has taken advantage of the 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 its parent company and other entities within the same group, due to the company being a wholly owned subsidiary within the overall group.

Significant judgements and estimates

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered 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 to which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the depreciation charges that are calculated with reference to the useful economic life of fixed assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Improvements to property

-

20% on cost

Plant and machinery

-

10% on cost

Fixtures and fittings

-

10% on cost and straight line over 3-10 years

Motor vehicles

-

33% on cost

Computer equipment

-

33% on cost

Financial instruments

The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

a) Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

b) Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

c) Impairment of financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

d) Trade and other creditors

Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Going concern

The company has negative reserves, consequently the company meets its day to day working capital requirements via financial support from the group since its incorporation to assist with initial setup costs and running costs. The support of the group company to whom funds are owed does not have a corresponding funding agreement but the group company is not intending to withdraw its support for the foreseeable future. The directors expect revenue levels to grow in the next financial year due to increasing its job capacity following the appointment of new staff and adding vehicles to the fleet. Accordingly the Directors expect the company to have adequate resources to continue its operational activities for the foreseeable future and meet its non-group liabilities as they fall due, accordingly, the financial statements are prepared on a going concern basis.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 16 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2024

-

11,925

8,238

Additions

4,600

13,125

394

At 31 December 2024

4,600

25,050

8,632

DEPRECIATION

At 1 January 2024

-

199

1,545

Charge for year

767

2,565

2,216

At 31 December 2024

767

2,764

3,761

NET BOOK VALUE

At 31 December 2024

3,833

22,286

4,871

At 31 December 2023

-

11,726

6,693

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

5,995

7,947

34,105

Additions

2,190

322

20,631

At 31 December 2024

8,185

8,269

54,736

DEPRECIATION

At 1 January 2024

666

2,394

4,804

Charge for year

2,120

2,709

10,377

At 31 December 2024

2,786

5,103

15,181

NET BOOK VALUE

At 31 December 2024

5,399

3,166

39,555

At 31 December 2023

5,329

5,553

29,301

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

as restated

£

£

Trade debtors

-

13,218

Other debtors

60,000

62,500

VAT

4,873

7,127

Prepayments and accrued income

58,408

52,447

123,281

135,292

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

as restated

£

£

Trade creditors

50,738

19,261

Amounts owed to group undertakings

465,177

477,677

Other creditors

1,145

1,612

Other taxes and PAYE

17,030

10,317

Accruals and deferred income

15,121

14,269

549,211

523,136

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

as restated

£

£

1

Ordinary

1

1

1

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

The Report of the Auditors was unqualified.

Ashley Phillips FCCA (Senior Statutory Auditor)

for and on behalf of McCabe Ford Williams

10.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statement, including assistance with the maintenance of the accounting records.

11.	ULTIMATE CONTROLLING PARTY

The company is a 100% subsidiary of Agrupacio Empresarial Trota, S.L.U., a company incorporated in Spain whose registered office is CIM Lleida, Vial E, Parcela 7, 25191, Lleida, Spain.