REGISTERED NUMBER: |
FREIGHT MINDS HOLDINGS LIMITED |
Unaudited Financial Statements |
for the period |
18 November 2022 to 31 January 2024 |
REGISTERED NUMBER: |
FREIGHT MINDS HOLDINGS LIMITED |
Unaudited Financial Statements |
for the period |
18 November 2022 to 31 January 2024 |
FREIGHT MINDS HOLDINGS LIMITED (REGISTERED NUMBER: 14492936) |
Contents of the Financial Statements |
for the period 18 November 2022 to 31 January 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
FREIGHT MINDS HOLDINGS LIMITED |
Company Information |
for the period 18 November 2022 to 31 January 2024 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
FREIGHT MINDS HOLDINGS LIMITED (REGISTERED NUMBER: 14492936) |
Balance Sheet |
31 January 2024 |
Notes | £ |
Fixed assets |
Investments | 4 |
Current assets |
Debtors | 5 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 6 | ( |
) |
Net current liabilities | ( |
) |
Total assets less current liabilities | ( |
) |
Capital and reserves |
Called up share capital |
Retained earnings | ( |
) |
Shareholders' funds | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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 |
FREIGHT MINDS HOLDINGS LIMITED (REGISTERED NUMBER: 14492936) |
Notes to the Financial Statements |
for the period 18 November 2022 to 31 January 2024 |
1. | Statutory information |
Freight Minds Holdings Limited is a |
Reporting period |
The reporting period is from the date of incorporation to 31 January 2024. |
2. | Accounting policies |
Basis of preparing the financial statements |
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 pound. |
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. |
Investments in subsidiaries and associates |
Investments in subsidiary and associate undertakings are recognised at cost. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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 period 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. |
Cash at bank and in hand |
Cash at bank and in hand are basic financial assets and include cash in hand, and deposits held at call with banks. |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with 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. |
FREIGHT MINDS HOLDINGS LIMITED (REGISTERED NUMBER: 14492936) |
Notes to the Financial Statements - continued |
for the period 18 November 2022 to 31 January 2024 |
2. | Accounting policies - continued |
Basic financial assets |
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised. |
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 are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. |
3. | Employees and directors |
The average number of employees during the period was |
4. | Fixed asset investments |
Shares in |
group | Interest in |
undertakings | associate | Totals |
£ | £ | £ |
Cost |
Additions | 142 |
At 31 January 2024 | 142 |
Net book value |
At 31 January 2024 | 142 |
5. | Debtors: amounts falling due within one year |
£ |
Amounts owed by participating interests | 19,960 |
6. | Creditors: amounts falling due within one year |
£ |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
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. |