GKS Logistics Limited

	Page
Abridged Balance Sheet	1
Notes to the Abridged Financial Statements	2—3

Registered number: 10793467

		2025		2024
	Notes	£	£	£	£
CURRENT ASSETS
Debtors		25,714		-
Cash at bank and in hand		5,068		40,328

		30,782		40,328
Creditors: Amounts Falling Due Within One Year		-		(7,783 )

NET CURRENT ASSETS (LIABILITIES)			30,782		32,545

TOTAL ASSETS LESS CURRENT LIABILITIES			30,782		32,545

NET ASSETS			30,782		32,545

CAPITAL AND RESERVES
Called up share capital	4		1		1
Profit and Loss Account			30,781		32,544

SHAREHOLDERS' FUNDS			30,782		32,545

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

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 May 2025 in accordance with section 444(2A) of the Companies Act 2006.

On behalf of the board

Ms Petra Ballantyne

Director

14/07/2026

The notes on pages 2 to 3 form part of these financial statements.

1. General Information

GKS Logistics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10793467 . The registered office is 27 Old Gloucester Street, London, WC1N 3AX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.3. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2024: NIL)

4. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1	1

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GKS Logistics Limited

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 May 2025

5. Off-Balance Sheet Arrangements

n June 2020, to the company was assigned receivables in the sum of EUR 1,461,869 and EUR 1,372,260. Payment of these amounts are dependent on further litigation.

In the January 2021, company has been partially successful in international commercial arbitration regarding above specified sums and damages against its in-direct subsidiary Morsevo Group (GKS Logistics held control over subsidiary in form of debt instruments, including lien on enterprise of the subsidiary) while majority of the damages sought has been rejected by arbitrator citing that third persons (state owned entities and authorities) were liable for lion share of damages which occured to the GKS Logistics. (though these liable parties have not been parties of the commercial arbitration).

In the February 2021 Memorandum of understanding regarding settlement, implementing moratory on debt enforcement until binding final judgement related lawsuit between Morsevo Group and Public Ports JSC (Slovakian fully state owned JSC) is not issued.

In the November 2021 GKS Logistics exited Morsevo Group, with privative novation (amendment) of debt instruments against former subsidiary, which are now specified as EUR 1,917,000. Maturity and payment of this pledged debt is dependent on ongoing lawsuit and administrative proceedings between TAM Group Komarno (frmr Morsevo Group) and state owned companies and public authorities in Slovakia, while sum of debt will be off-set against some costs which incurred or incurring to the TAM Group.

GKS Logistics is preparing for investment arbitration with regard to losses incurred by unlawful actions and indirect expropriaton of its assets in Slovakia, especially long-term lease of part of port in Komarno. Up to this date, in the national jurisdiction the Morsevo/TAM Group lawsuit against Public Ports JSC is pending. GKS Logistics will update balance sheet and books after any material change in situation, e.g. (i) cooling-off period of out-of-court settlement will lapse, (ii) damages are calculated by expert wittness, (iii) out-of-court settlement is reached, (iv) final judgement in Morsevo/TAM case against PublicPorts JSC is issued.

GKS Logistics will consult on effects of any above mentioned changes with regard to existence, enforceability, quantity and maturity of any and all claims in Slovakia, with its Coordinator of legal services in Slovakia, and legal counsels.

In 2022 GKS Logistics bought receivable against: DEVÍN BANKA a.s. v konkurze /DEVIN BANK, JSC, under insolvency administration in the sum:1,835,450 USD and whereas that principal sum of claim is claim against bankrupt estate substance, GKS Logistics had to enforce that claim against that bank represented by administrator, at the District court Banska Bystrica.

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