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Registration number: 03895907

MLS (Overseas) Limited
Annual Report and Unaudited Financial Statements
for the Period from 1 July 2023 to 28 June 2024

MLS (Overseas) Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 6

MLS (Overseas) Limited

Company Information

Directors | Mrs J Farhadian Mr G Sassower Mr J Mills Mr M Khanna

Registered office | Unit 210 The Courtyard Skyline Business Park, Avenue West, Great Notley Braintree, Essex CM77 7AA

Accountants | Rotherham Taylor Limited Chartered Accountants 21 Navigation Business Village Navigation Way Ashton-on-Ribble Preston PR2 2YP

MLS (Overseas) Limited

(Registration number: 03895907)
Balance Sheet as at 28 June 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Investments | 4 | 57 | 57
Current assets |  |  |
Debtors | 5 | 28,220,510 | 26,594,803
Cash at bank and in hand |  | 3,790,896 | 3,842,188
|  | 32,011,406 | 30,436,991
Creditors: Amounts falling due within one year | 6 | (18,134,536) | (17,714,127)
Net current assets |  | 13,876,870 | 12,722,864
Net assets |  | 13,876,927 | 12,722,921
Capital and reserves |  |  |
Called up share capital |  | 1,000,000 | 1,000,000
Retained earnings |  | 12,876,927 | 11,722,921
Shareholders' funds |  | 13,876,927 | 12,722,921

For the financial period ending 28 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 October 2025 and signed on its behalf by:

......................................... Mr G Sassower Director |  |

MLS (Overseas) Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 28 June 2024

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 210 The Courtyard
Skyline Business Park,
Avenue West, Great Notley
Braintree, Essex
CM77 7AA

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. Exemption has been taken under the provisions of the Companies Act 2006 from preparing consolidated financial statements. These financial statements therefore contain information about MLS (Overseas) Limited as an individual company and do not contain consolidated financial information as the parent of a group.

The presentational currency of the financial statements is UK £, rounded to the nearest £1, being the functional currency of the primary economic environment in which the company operates.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Profit and loss account transactions in foreign currencies are translated into sterling at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the closing rates at the balance sheet date and the exchange differences are included in the profit and loss account.

MLS (Overseas) Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 28 June 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investments

Investments in subsidiary undertakings are shown at cost less provision for impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

MLS (Overseas) Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 28 June 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
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. Financial assets and liabilities are offset and the net amount reported in the balance sheet 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.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the period, was 6 (2023 - 6).

4 | Investments

| 2024 £ | 2023 £
Investments in subsidiaries | 57 | 57

Subsidiaries | £
Cost or valuation
At 1 July 2023 | 57
Provision
Carrying amount
At 28 June 2024 | 57
At 30 June 2023 | 57

MLS (Overseas) Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 28 June 2024

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking |  |  | Proportion of voting rights and shares held
|  |  | 2024 | 2023
Multinational Logistic Services Inc. |  |  | 100% | 100%

5 | Debtors

|  | 2024 £ | 2023 £
Trade debtors |  | 15,712,301 | 15,309,231
Amounts owed by group undertakings |  | 1,169,876 | -
Other debtors |  | 11,338,333 | 11,285,572
|  | 28,220,510 | 26,594,803

Included within other debtors is an amount of £1,725,500 (2023: £1,725,500) faliing due after more than one year.

6 | Creditors

Creditors: amounts falling due within one year

| 2024 £ | 2023 £
Due within one year |  |
Taxation and social security | 346,932 | 46,522
Other creditors | 17,787,604 | 17,667,605
| 18,134,536 | 17,714,127