Company No: 03274787 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	137,385		129,378
Tangible assets	4	13,309		23,474
		150,694		152,852
Current assets
Debtors
- due within one year	5	1,714,962		1,820,622
- due after more than one year	5	260		0
Cash at bank and in hand		14,191		( 51,035)
		1,729,413		1,769,587
Creditors: amounts falling due within one year	6	( 1,751,685)		( 1,755,235)
Net current (liabilities)/assets		(22,272)		14,352
Total assets less current liabilities		128,422		167,204
Provision for liabilities	7	( 6,375)		( 10,032)
Net assets		122,047		157,172
Capital and reserves
Called-up share capital	8	50,000		50,000
Profit and loss account		72,047		107,172
Total shareholder's funds		122,047		157,172

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of Chain Supply Management and Logistics Limited (registered number: 03274787) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

M Ogden Director

08 October 2025

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Chain Supply Management and Logistics Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Statement of Comprehensive Income in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software

4 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	4 years straight line
Plant and machinery	4 years straight line
Vehicles	4 years straight line
Fixtures and fittings	4 years straight line
Computer equipment	4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Comprehensive Income over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from other third parties, loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally 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.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	43		48

3. Intangible assets

	Computer software		Total
	£		£
Cost
At 01 February 2024	906,233		906,233
Additions	92,127		92,127
At 31 January 2025	998,360		998,360
Accumulated amortisation
At 01 February 2024	776,855		776,855
Charge for the financial year	84,120		84,120
At 31 January 2025	860,975		860,975
Net book value
At 31 January 2025	137,385		137,385
At 31 January 2024	129,378		129,378

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£		£		£
Cost
At 01 February 2024	87,774		12,225		4,250		41,491		59,829		205,569
Additions	2,073		0		0		0		0		2,073
Disposals	( 6,220)		0		0		0		0		( 6,220)
At 31 January 2025	83,627		12,225		4,250		41,491		59,829		201,422
Accumulated depreciation
At 01 February 2024	70,454		12,225		4,250		40,169		54,997		182,095
Charge for the financial year	5,699		0		0		529		3,853		10,081
Disposals	( 4,063)		0		0		0		0		( 4,063)
At 31 January 2025	72,090		12,225		4,250		40,698		58,850		188,113
Net book value
At 31 January 2025	11,537		0		0		793		979		13,309
At 31 January 2024	17,320		0		0		1,322		4,832		23,474

5. Debtors

	2025		2024
	£		£
Debtors: amounts falling due within one year
Trade debtors	1,125,385		1,205,641
Prepayments and accrued income	41,033		41,257
VAT recoverable	49,025		59,965
Other debtors	499,519		513,759
	1,714,962		1,820,622
Debtors: amounts falling due after more than one year
Other debtors	260		0

Trade debtors have been pledged as security against amounts due in respect of financed receivables.

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank overdrafts	665,048		734,374
Trade creditors	551,452		560,269
Amounts owed to group undertakings	338		338
Accruals	251,219		229,790
Taxation and social security	100,204		119,184
Other creditors	183,424		111,280
	1,751,685		1,755,235

The invoice discounting facility of £665,048 (2024: £734,374) is secured by way of a fixed and floating charge over the assets of the company, including trade debtors.

7. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 10,032)		( 17,016)
Credited to the Profit and Loss Account	3,657		6,984
At the end of financial year	( 6,375)		( 10,032)

The deferred taxation balance is made up as follows:

	2025		2024
	£		£
Accelerated capital allowances	( 6,448)		( 10,032)
Other timing differences	73		0
	( 6,375)		( 10,032)

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
50,000 Ordinary shares of £ 1.00 each	50,000		50,000

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2025		2024
	£		£
within one year	144,103		145,234
between one and five years	330,795		19,997
after five years	52,213		0
	527,111		165,231

Other financial commitments

On 13 May 2015 the company, together with Sandrair International Limited, M O Holdings Limited and Abingdon Freight Forwarding Agency Limited (each "a Chargor"), entered into a debenture in favour of Barclays Bank Plc ("the Bank") to secure all present and future liabilities and obligations of each Chargor to the Bank, whether actual or contingent and whether owed jointly or severally or in any other capacity. The assets of the Chargor in respect of which they granted to the Bank a fixed and floating charge to secure their respective liabilities and obligations.

Pensions

The company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

	2025		2024
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	3,448		4,894

10. Related party transactions

Other related party transactions

	2025		2024
	£		£
Included within creditors are amounts owed to the group undertakings, due from the parent company. This balance is unsecured and interest free and repayable on demand with no fixed repayment terms.	338		338
Included within other creditors is a balance due to companies with a common director. This balance is unsecured and interest free and repayable on demand with no fixed repayment terms.	179,980		106,387
Included within other debtors is a balance due from companies with a common director. This balance is unsecured and interest free and repayable on demand with no fixed repayment terms.	467,849		482,649