Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31truefalsetruetruetruetrue2023-01-01No description of principal activity22false 01527679 2023-01-01 2023-12-31 01527679 2022-01-01 2022-12-31 01527679 2023-12-31 01527679 2022-12-31 01527679 2022-01-01 01527679 c:Director1 2023-01-01 2023-12-31 01527679 c:Director2 2023-01-01 2023-12-31 01527679 c:RegisteredOffice 2023-01-01 2023-12-31 01527679 d:CurrentFinancialInstruments 2023-12-31 01527679 d:CurrentFinancialInstruments 2022-12-31 01527679 d:ShareCapital 2023-01-01 2023-12-31 01527679 d:ShareCapital 2023-12-31 01527679 d:ShareCapital 2022-01-01 2022-12-31 01527679 d:ShareCapital 2022-12-31 01527679 d:ShareCapital 2022-01-01 01527679 d:CapitalRedemptionReserve 2023-01-01 2023-12-31 01527679 d:CapitalRedemptionReserve 2023-12-31 01527679 d:CapitalRedemptionReserve 2022-01-01 2022-12-31 01527679 d:CapitalRedemptionReserve 2022-12-31 01527679 d:CapitalRedemptionReserve 2022-01-01 01527679 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 01527679 d:RetainedEarningsAccumulatedLosses 2023-12-31 01527679 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 01527679 d:RetainedEarningsAccumulatedLosses 2022-12-31 01527679 d:RetainedEarningsAccumulatedLosses 2022-01-01 01527679 c:OrdinaryShareClass1 2023-01-01 2023-12-31 01527679 c:OrdinaryShareClass1 2023-12-31 01527679 c:OrdinaryShareClass1 2022-12-31 01527679 c:OrdinaryShareClass2 2023-01-01 2023-12-31 01527679 c:OrdinaryShareClass2 2023-12-31 01527679 c:OrdinaryShareClass2 2022-12-31 01527679 c:FRS102 2023-01-01 2023-12-31 01527679 c:Audited 2023-01-01 2023-12-31 01527679 c:FullAccounts 2023-01-01 2023-12-31 01527679 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01527679 d:Subsidiary1 2023-01-01 2023-12-31 01527679 d:Subsidiary1 1 2023-01-01 2023-12-31 01527679 d:Subsidiary2 2023-01-01 2023-12-31 01527679 d:Subsidiary2 1 2023-01-01 2023-12-31 01527679 d:Subsidiary3 2023-01-01 2023-12-31 01527679 d:Subsidiary3 1 2023-01-01 2023-12-31 01527679 6 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01527679









ZEUSBOND LIMITED









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ZEUSBOND LIMITED
 
 
COMPANY INFORMATION


Directors
N Dursley 
C McMullen 




Registered number
01527679



Registered office
3 City Place
Beehive Ring Road

Gatwick

West Sussex

RH6 0PA




Trading Address
3 City Place
Beehive Ring Road

Gatwick

West Sussex

RH6 0PA






Independent auditors
Haslers
Chartered Accountants & Statutory Auditor

Old Station Road

Loughton

Essex

IG10 4PL





 
ZEUSBOND LIMITED
 

CONTENTS



Page
Strategic Report
 
 
1
Directors' Report
 
 
2
Directors' Responsibilities Statement
 
 
3
Independent Auditors' Report
 
 
4 - 7
Statement of Comprehensive Income
 
 
8
Balance Sheet
 
 
9
Statement of Changes in Equity
 
 
10
Notes to the Financial Statements
 
 
11 - 15


 
ZEUSBOND LIMITED
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

Introduction
 
The directors present their Strategic Report for the year ended 31 December 2023.

Business review
 
The company received a dividend from its subsidiary of £2,410,000 compared to £1,600,000 in the year ended 31 December 2022.  
During the year, the company incorporated a new subsidiary, Intradco Global DMCC.

Principal risks and uncertainties
 
The principal risks and uncertainties of the company relate to the underlying performance of the subsidiary and the impact this has on the holding coampny.

Financial key performance indicators
 
The key performance indicator of the company is dividends received from its subsidiary.


This report was approved by the board on 18 March 2024 and signed on its behalf.



C McMullen
Director

Page 1

 
ZEUSBOND LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

The directors present their report and the financial statements for the year ended 31 December 2023.

Results and dividends

The profit for the year, after taxation, amounted to £2,409,740 (2022 - £1,599,882).

The company paid an interim dividend of £2,410,000 (2021: £1,600,000) in the year. 

Directors

The directors who served during the year were:

N Dursley 
C McMullen 

Future developments

The directors consider that there are no significant future developments which require disclosure. 

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Auditors

The auditorsHaslerswill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 18 March 2024 and signed on its behalf.
 





C McMullen
Director

Page 2

 
ZEUSBOND LIMITED
 
 
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:

select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;


prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 3

 
ZEUSBOND LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ZEUSBOND LIMITED
 

Opinion


We have audited the financial statements of Zeusbond Limited (the 'Company') for the year ended 31 December 2023, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 December 2023 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 4

 
ZEUSBOND LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ZEUSBOND LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 5

 
ZEUSBOND LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ZEUSBOND LIMITED (CONTINUED)


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks applicable to the company and the sector in which it operates. We determined that the following laws and regulations were most significant: the Companies Act 2006 and UK corporate taxation laws.
We obtained an understanding of how the company are complying with those legal and regulatory frameworks by making inquiries to the management. We corroborated our inquiries through our review of documentation generated by the legal department. 
                  We discussed among the audit engagement team regarding the opportunities and incentives, including management override of controls, that may exist within the organisation for fraud and how and where fraud might occur the the financial statements.                               As a result of the above we identified management override as the key audit risk. In order to address this risk, we discussed with management the dormancy status of the company other than for receiving and paying dividends, and reviewed journals to corroborate this.  


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.


Page 6

 
ZEUSBOND LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ZEUSBOND LIMITED (CONTINUED)


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Christina Georgiou (Senior Statutory Auditor)
  
for and on behalf of
Haslers
 
Chartered Accountants
Statutory Auditor
  
Old Station Road
Loughton
Essex
IG10 4PL

18 March 2024
Page 7

 
ZEUSBOND LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023

2023
2022
£
£

  

Administrative expenses
  
(260)
(118)

Operating loss
  
(260)
(118)

Income from shares in group undertakings
  
2,410,000
1,600,000

Profit before tax
  
2,409,740
1,599,882

Profit for the financial year
  
2,409,740
1,599,882

There were no recognised gains and losses for 2023 or 2022 other than those included in the statement of comprehensive income.

There was no other comprehensive income for 2023 (2022:£NIL).

The notes on pages 11 to 15 form part of these financial statements.

Page 8

 
ZEUSBOND LIMITED
REGISTERED NUMBER: 01527679

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Investments
 6 
12,769
1,000

  
12,769
1,000

Current assets
  

Debtors: amounts falling due within one year
 7 
36,201
47,970

Cash at bank and in hand
 8 
652
912

  
36,853
48,882

Total assets less current liabilities
  
 
 
49,622
 
 
49,882

  

Net assets
  
49,622
49,882


Capital and reserves
  

Called up share capital 
 9 
15,000
15,000

Capital redemption reserve
 10 
35,000
35,000

Profit and loss account
 10 
(378)
(118)

  
49,622
49,882


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 March 2024.




C McMullen
Director

The notes on pages 11 to 15 form part of these financial statements.

Page 9

 
ZEUSBOND LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 January 2023
15,000
35,000
(118)
49,882


Comprehensive income for the year

Profit for the year
-
-
2,409,740
2,409,740
Total comprehensive income for the year
-
-
2,409,740
2,409,740


Contributions by and distributions to owners

 
Dividends: Equity capital
-
-
(2,410,000)
(2,410,000)


Total transactions with owners
-
-
(2,410,000)
(2,410,000)


At 31 December 2023
15,000
35,000
(378)
49,622



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 January 2022
15,000
35,000
-
50,000


Comprehensive income for the year

Profit for the year
-
-
1,599,882
1,599,882
Total comprehensive income for the year
-
-
1,599,882
1,599,882


Contributions by and distributions to owners

 
Dividends: Equity capital
-
-
(1,600,000)
(1,600,000)


Total transactions with owners
-
-
(1,600,000)
(1,600,000)


At 31 December 2022
15,000
35,000
(118)
49,882


The notes on pages 11 to 15 form part of these financial statements.

Page 10

 
ZEUSBOND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Zeusbond Limited is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number of 01527679. The address of the registered office is 3 City Place, Beehive Ring Road, Gatwick, West Sussex, RH6 OPA. The principal activity of the company is that of a Holding company. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The company's functional and presentational currency is GBP.                                                          

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A.

This information is included in the consolidated financial statements of Chapman Freeborn Holdings Limited as at 31 December 2023 and these financial statements may be obtained from the company's registered office.

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 11

 
ZEUSBOND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Page 12

 
ZEUSBOND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

In applying the company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on the historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ. 
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period which the estimate is revised, if the revision affects only that period, or in the period of revision and future periods, if the revision affects both current and future periods. 
Management considers that there are no judgments that have been made in the process of applying the entity's accounting policies that have a significant effect on the financial statements. Furthermore, management considers that there are no areas of estimation uncertainty at the balance sheet date that have significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year. 


4.


Employees




The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Directors
2
2


5.


Dividends

2023
2022
£
£


Interim dividend paid in respect of the year ended 2022
1,610,000
1,600,000


Interim dividend paid in respect of the year ended 2023
800,000
-

2,410,000
1,600,000

Page 13

 
ZEUSBOND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
1,000


Additions
11,769



At 31 December 2023
12,769





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Intradco Cargo Services Limited
England and Wales
Ordinary
100%
Chapman Freeborn Airchartering Limited T/A Intradco Global
Canada
Ordinary
100%
Intradco Global DMCC
UAE
Ordinary
100%


7.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
36,201
47,970

36,201
47,970


Page 14

 
ZEUSBOND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
652
912

652
912



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



9,000 (2022 - 9,000) Ordinary A shares of £1.00 each
9,000
9,000
6,000 (2022 - 6,000) Ordinary B shares of £1.00 each
6,000
6,000

15,000

15,000



10.


Reserves

Profit and loss account

The profit and loss account represents cumulative profits and losses net of dividends and other adjustments. 


11.


Related party transactions

The company has received dividends from a subsidiary company, Intradco Cargo Services Limited of £2,410,000 (2022: £1,600,000). Additionally, dividends of £2,410,000 (2022: £1,600,000) were paid to shareholders.


12.


Controlling Party

The immediate UK parent company is Chapman Freeborn International Limited, a company incorporated in England and Wales.
The ultimate controlling party is Mr G Ziemelis by virtue of his control over the company which has majority control of Chapman Freeborn International Limited. 
The smallest group to consolidate these financial statements is Chapman Freeborn Holdings Limited. Copies of the consolidated financial statements of Chapman Freeborn Holdings Limited can be obtained from Companies House website.

 
Page 15