REGISTERED NUMBER: 04119799 (England and Wales)

SAL Commercials Limited

Financial Statements for the Year Ended 31st December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr T Hughes

Mrs S Ireland

REGISTERED OFFICE:

Birchin Way

Grimsby

NE Lincolnshire

DN31 2SG

REGISTERED NUMBER:

04119799 (England and Wales)

AUDITORS:

Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

BANKERS:

Natwest Bank

66 Victoria Street

Grimsby

N E Lincs

DN31 1BL

CURRENT ASSETS

Debtors

4

11,412,050

11,414,815

CREDITORS

Amounts falling due within one year

5

79,650

79,650

NET CURRENT ASSETS

11,332,400

11,335,165

TOTAL ASSETS LESS CURRENT LIABILITIES

11,332,400

11,335,165

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

11,331,400

11,334,165

SHAREHOLDERS' FUNDS

11,332,400

11,335,165

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 23rd December 2025 and were signed on its behalf by:

Mr T Hughes - Director

1.	STATUTORY INFORMATION

SAL Commercials 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.

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.

Going Concern

The company transferred its trade and assets to its immediate parent company during 2022. Consequently, the company has ceased trading and has become effectively a dormant company. The company has limited liabilities which will be settled using funds from the parent company which are due to the company. Therefore, the Directors have obtained a letter of parental support ensure this funding will be in place when it is required. The Directors have considered the parent company's ability to provide this support and concluded that it has substantial resources from which to provide this should it be required. On this basis, the Directors continue to adopt the going concern basis of preparation in these financial statements.

Taxation

Taxation for the year comprises current and deferred tax. The current liability is based on taxable profit for the current or past reporting periods. The entity's taxable profit differed from the profit reported in profit or loss for the year because of items of income in expense which are taxable or deductible in different periods together with items which are beyond the scope fo tax and hence are never taxable or deductible. The entity's liability for current tax is calculated using tax rates which have been enacted or substantively enacted, by the balance sheet date.

Amounts of the current and deferred tax are generally recognised in the profit or loss, except when they relate to items which are recognised in other comprehensive income or equity as the case may be.

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.

Pension costs and other post-retirement benefits

Short-term employee benefits are recognised as an expense in the period in which they are incurred. The company operates a defined contribution pension scheme and the obligations for contributions are recognised as an expense in the period they are incurred. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Trade and other debtors

Trade and other debtors are initially recognised at the transaction price and subsequently measured using the amortised cost method which uses the effective interest method. At each balance sheet date, the directors asses trade and other debtors for evidence of indicators of impairment and where the directors conclude that amounts in respect of trade and other debtors are not recoverable, a specific bad debt provision is recognised. Trade debtors are not interest-bearing. Where the effects of discounting trade and other debtors is judged to be immaterial, such debtors are stated at cost less impairment losses in respect of bad debts.

Trade and other creditors

Trade and other creditors are initially recognised in the financial statements at transaction price. Trade and other creditors are then subsequently measured at amortised cost using the effective interest method, unless the effects of discounting would be considered immaterial. If the effects of discounting are judged to be immaterial, trade and other creditors are stated at cost. Trade creditors are not interest-bearing.

3.	EMPLOYEES AND DIRECTORS

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

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

11,412,050

11,412,050

Other debtors

-

2,765

11,412,050

11,414,815

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

79,650

79,650

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

The Report of the Auditors was unqualified.

Matthew Fox FCCA (Senior Statutory Auditor)

for and on behalf of Smailes Goldie

7.	RELATED PARTY DISCLOSURES

The company has taken advantage of 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 wholly owned subsidiaries within the group.

8.	ULTIMATE CONTROLLING PARTY

In the Directors' opinion the Company's ultimate parent undertaking is EQT Infrastructure VI Investments S.a.r.l. ('EQT'), a company incorporated in Luxembourg. Prior to the acquisition on 31 October 2024, the group was controlled by Constellation Cold Logistics S.a.r.l. a company registered in Luxembourg.

The company's immediate parent company is Constellation Cold Logistics UK Limited. The smallest group of companies for which consolidated financial statements are publicly available and include the company are those of Constellation Cold Logistics UK Midco Limited, a company registered in the United Kingdom.