Caseware UK (AP4) 2023.0.135 2023.0.135 2023-07-312023-07-31No description of principal activitytrue3truetruetrue2022-10-10false0false 14408138 2022-10-09 14408138 2022-10-10 2023-07-31 14408138 2022-01-01 2022-10-09 14408138 2023-07-31 14408138 c:Director4 2022-10-10 2023-07-31 14408138 d:CurrentFinancialInstruments 2023-07-31 14408138 d:Non-currentFinancialInstruments 2023-07-31 14408138 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 14408138 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 14408138 d:ShareCapital 2023-07-31 14408138 d:RetainedEarningsAccumulatedLosses 2023-07-31 14408138 c:FRS102 2022-10-10 2023-07-31 14408138 c:Audited 2022-10-10 2023-07-31 14408138 c:FullAccounts 2022-10-10 2023-07-31 14408138 c:PrivateLimitedCompanyLtd 2022-10-10 2023-07-31 14408138 c:SmallCompaniesRegimeForAccounts 2022-10-10 2023-07-31 14408138 6 2022-10-10 2023-07-31 iso4217:GBP xbrli:pure

Registered number: 14408138









WORLD FREIGHT HOLDINGS LTD









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 JULY 2023

 
WORLD FREIGHT HOLDINGS LTD
REGISTERED NUMBER: 14408138

BALANCE SHEET
AS AT 31 JULY 2023

2023
Note
£

Fixed assets
  

Investments
  
2,232,121

  
2,232,121

Current assets
  

Debtors: amounts falling due within one year
 5 
7,351

Cash at bank and in hand
 6 
921

  
8,272

Creditors: amounts falling due within one year
 7 
(1,730,427)

Net current (liabilities)/assets
  
 
 
(1,722,155)

Total assets less current liabilities
  
509,966

Creditors: amounts falling due after more than one year
  
(524,289)

  

Net (liabilities)/assets
  
(14,323)


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
(14,423)

  
(14,323)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 October 2024.




M Seabrook
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
WORLD FREIGHT HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2023

1.


General information

World Freight Holdings Ltd is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 14408138. The address of the registered office is Admiral House, 853 London Road, West Thurrock, Essex, RM20 3LG. The company is 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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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 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;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Seabrook Holdings Limited as at 31 July 2023 and these financial statements may be obtained from Companies House.

 
2.3

Going concern

The directors have assessed the going concern of the entity based on support being available from the group. They can deem the entity is a going concern for the 12 months following the sign off date.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 2

 
WORLD FREIGHT HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

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.

 
2.8

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.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

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.
Page 3

 
WORLD FREIGHT HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2023

2.Accounting policies (continued)


2.10
Financial instruments (continued)


Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument 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.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the period was 3.

Page 4

 
WORLD FREIGHT HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2023

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


Additions
2,232,121



At 31 July 2023
2,232,121





5.


Debtors

2023
£


Amounts owed by group undertakings
430

Other debtors
6,921

7,351



6.


Cash and cash equivalents

2023
£

Cash at bank and in hand
921

921



7.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
5,419

Amounts owed to group undertakings
1,334,100

Other creditors
390,908

1,730,427


Page 5

 
WORLD FREIGHT HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2023

8.


Creditors: Amounts falling due after more than one year

2023
£

Other creditors
524,289

524,289



9.


Related party transactions

At the period end the following amounts were due from/(to) related parties


2023
£

Entites with control
(1,258,100)
Entites under common control
(76,000)
Key management personnel
(282,697)
Other related parties
(5,945)
(1,622,742)


10.


Controlling party

The ultimate parent company is Seabrook Holdings Limited, a company registered in England and Wales. 
The ultimate controlling party is M Seabrook by virtue of his majority shareholding in the ultimate parent company. 


11.


Auditors' information

The auditors' report on the financial statements for the period ended 31 July 2023 was unqualified.

The audit report was signed on 9 October 2024 by Laura Ambrose (Senior statutory auditor) on behalf of Haslers.

 
Page 6