Caseware UK (AP4) 2023.0.135 2023.0.135 2023-07-312023-07-31truetruetrue2023-01-01falseNo description of principal activity21falsetrue 06873890 2023-01-01 2023-07-31 06873890 2022-01-01 2022-12-31 06873890 2023-07-31 06873890 2022-12-31 06873890 c:Director3 2023-01-01 2023-07-31 06873890 d:MotorVehicles 2023-01-01 2023-07-31 06873890 d:MotorVehicles 2023-07-31 06873890 d:MotorVehicles 2022-12-31 06873890 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-07-31 06873890 d:CurrentFinancialInstruments 2023-07-31 06873890 d:CurrentFinancialInstruments 2022-12-31 06873890 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 06873890 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 06873890 d:ShareCapital 2023-07-31 06873890 d:ShareCapital 2022-12-31 06873890 d:RetainedEarningsAccumulatedLosses 2023-07-31 06873890 d:RetainedEarningsAccumulatedLosses 2022-12-31 06873890 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 06873890 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 06873890 c:OrdinaryShareClass1 2023-01-01 2023-07-31 06873890 c:OrdinaryShareClass1 2023-07-31 06873890 c:OrdinaryShareClass1 2022-12-31 06873890 c:FRS102 2023-01-01 2023-07-31 06873890 c:Audited 2023-01-01 2023-07-31 06873890 c:FullAccounts 2023-01-01 2023-07-31 06873890 c:PrivateLimitedCompanyLtd 2023-01-01 2023-07-31 06873890 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 06873890









WORLD FREIGHT LOADING LTD









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 JULY 2023

 
WORLD FREIGHT LOADING LTD
REGISTERED NUMBER: 06873890

BALANCE SHEET
AS AT 31 JULY 2023

31 July
As restated
31 December
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
8,608
9,050

  
8,608
9,050

Current assets
  

Debtors: amounts falling due within one year
 5 
7,779
17,231

Cash at bank and in hand
  
10,111
28,087

  
17,890
45,318

Creditors: amounts falling due within one year
 7 
(44,414)
(45,948)

Net current liabilities
  
 
 
(26,524)
 
 
(630)

Total assets less current liabilities
  
(17,916)
8,420

Provisions for liabilities
  

Deferred tax
  
(185)
(185)

  
 
 
(185)
 
 
(185)

Net (liabilities)/assets
  
(18,101)
8,235


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(18,201)
8,135

  
(18,101)
8,235


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.

Page 1

 
WORLD FREIGHT LOADING LTD
REGISTERED NUMBER: 06873890
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023




M Seabrook
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

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

1.


General information

World Freight Loading Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06873890. The registered office is Admiral House, 853 London Road, Grays, Essex, RM20 3LG. The princpial activity of the company is that of a loading 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.

Page 3

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

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 4

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

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

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

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
20%
Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

Page 6

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

2.Accounting policies (continued)

 
2.12

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.

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.
 
Page 7

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

2.Accounting policies (continued)


2.12
Financial instruments (continued)


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 2 (2022 - 1).

Page 8

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

4.


Tangible fixed assets







Motor vehicles

£



Cost or valuation


At 1 January 2023
10,800


Additions
1,404


Disposals
(191)



At 31 July 2023

12,013



Depreciation


At 1 January 2023
1,750


Charge for the period on owned assets
1,655



At 31 July 2023

3,405



Net book value



At 31 July 2023
8,608



At 31 December 2022
9,050


5.


Debtors

31 July
As restated
31 December
2023
2022
£
£


Trade debtors
402
6,024

Other debtors
7,210
9,874

Prepayments and accrued income
167
1,333

7,779
17,231


Page 9

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

6.


Cash and cash equivalents

31 July
31 December
2023
2022
£
£

Cash at bank and in hand
10,111
28,087

10,111
28,087



7.


Creditors: Amounts falling due within one year

31 July
As restated
31 December
2023
2022
£
£

Trade creditors
3,566
6,217

Amounts owed to group undertakings
34,245
25,360

Other creditors
2,753
10,771

Accruals and deferred income
3,850
3,600

44,414
45,948



8.


Deferred taxation






2023


£






At beginning of year
(185)



At end of year
(185)

Page 10

 
WORLD FREIGHT LOADING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2023
 
8.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

31 July
31 December
2023
2022
£
£


Accelerated capital allowances
(185)
(185)

(185)
(185)


9.


Share capital

31 July
31 December
2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



10.


Prior year adjustment

Balances owed to related parties have been reclassed in the prior year comparatives so they are disclosed as such.


11.


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.


12.


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 11