Company registration number 15045313 (England and Wales)
D.G. FREIGHT TRUSTEE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
D.G. FREIGHT TRUSTEE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
D.G. FREIGHT TRUSTEE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
Notes
£
£
Fixed assets
Investments
3
2,512,500
Current assets
-
Creditors: amounts falling due within one year
4
(181,071)
Net current liabilities
(181,071)
Total assets less current liabilities
2,331,429
Creditors: amounts falling due after more than one year
5
(1,011,429)
Net assets
1,320,000
Reserves
Income and expenditure account
1,320,000
Members' funds
1,320,000

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

For the financial period ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 27 June 2024 and are signed on its behalf by:
D Griffiths
Director
Company registration number 15045313 (England and Wales)
D.G. FREIGHT TRUSTEE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

D.G. Freight Trustee Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Reed House, 26 Marsh Street, Rothwell, Leeds, West Yorkshire, LS26 0BB.

1.1
Reporting period

After being incorporated on 2 August 2023 management changed the default year-end to 31 March 2024 to align with the company's subsidiary. It is noted that the current period therefore is not a year for the purpose of future comparatives.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Income

Income received by the company is recorded at the proceeds received, net of transaction costs and represents distributions received as gifts from D.G. Freight Ltd.

1.4
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in surplus or deficit.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
Financial instruments
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and directors loan accounts, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

D.G. FREIGHT TRUSTEE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
Number
Total
4
3
Fixed asset investments
2024
£
Unlisted investments
2,512,500
Movements in fixed asset investments
Investments
£
Cost or valuation
At 2 August 2023
-
Additions
2,512,500
At 31 March 2024
2,512,500
Carrying amount
At 31 March 2024
2,512,500
4
Creditors: amounts falling due within one year
2024
£
Other creditors
181,071
5
Creditors: amounts falling due after more than one year
2024
£
Other creditors
1,011,429
6
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

D.G. FREIGHT TRUSTEE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
(Continued)
- 4 -
7
Related parties

The company is the sole trustee of the D.G. Freight Employee Ownership Trust.

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