Silverfin false false 31/01/2024 01/02/2023 31/01/2024 C Ogden 01/10/2021 M Ogden 14/11/1994 10 October 2024 The principal activity of the Company during the financial year was that of a holding company. The company did not trade during the year. 02989972 2024-01-31 02989972 bus:Director1 2024-01-31 02989972 bus:Director2 2024-01-31 02989972 2023-01-31 02989972 core:CurrentFinancialInstruments 2024-01-31 02989972 core:CurrentFinancialInstruments 2023-01-31 02989972 core:ShareCapital 2024-01-31 02989972 core:ShareCapital 2023-01-31 02989972 core:SharePremium 2024-01-31 02989972 core:SharePremium 2023-01-31 02989972 core:RetainedEarningsAccumulatedLosses 2024-01-31 02989972 core:RetainedEarningsAccumulatedLosses 2023-01-31 02989972 core:CostValuation 2023-01-31 02989972 core:CostValuation 2024-01-31 02989972 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2024-01-31 02989972 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2023-01-31 02989972 bus:OrdinaryShareClass1 2024-01-31 02989972 bus:OrdinaryShareClass2 2024-01-31 02989972 2023-02-01 2024-01-31 02989972 bus:FilletedAccounts 2023-02-01 2024-01-31 02989972 bus:SmallEntities 2023-02-01 2024-01-31 02989972 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 02989972 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 02989972 bus:Director1 2023-02-01 2024-01-31 02989972 bus:Director2 2023-02-01 2024-01-31 02989972 2022-02-01 2023-01-31 02989972 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 02989972 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 02989972 bus:OrdinaryShareClass2 2023-02-01 2024-01-31 02989972 bus:OrdinaryShareClass2 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 02989972 (England and Wales)

ABINGDON FREIGHT HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

ABINGDON FREIGHT HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

ABINGDON FREIGHT HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 January 2024
ABINGDON FREIGHT HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 528,648 528,648
528,648 528,648
Creditors: amounts falling due within one year 4 ( 503,682) ( 503,682)
Net current liabilities (503,682) (503,682)
Total assets less current liabilities 24,966 24,966
Net assets 24,966 24,966
Capital and reserves
Called-up share capital 5 5,500 5,500
Share premium account 19,500 19,500
Profit and loss account ( 34 ) ( 34 )
Total shareholders' funds 24,966 24,966

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Abingdon Freight Holdings Limited (registered number: 02989972) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

M Ogden
Director

10 October 2024

ABINGDON FREIGHT HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
ABINGDON FREIGHT HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Abingdon Freight Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £1.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

At the balance sheet date, the company has net current liabilities of £503,682 (2023: £503,682). The company relies upon borrowings of £498,227 due to its subsidiary and will continue to rely on their ongoing support which the directors have confirmed, thus ensuring liabilities are met as they fall due.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like other debtors and creditors, loans from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.

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

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 2 2

3. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 February 2023 528,648
At 31 January 2024 528,648
Carrying value at 31 January 2024 528,648
Carrying value at 31 January 2023 528,648

4. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to own subsidiaries 503,682 498,227
Accruals 0 5,000
Other creditors 0 455
503,682 503,682

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
5,000 Ordinary A shares of £ 1.00 each 5,000 5,000
500 Ordinary B shares of £ 1.00 each 500 500
5,500 5,500

6. Related party transactions

Other related party transactions

2024 2023
£ £
Included in creditors is a balance owed to the subsidiary. This balance is unsecured and interest free, with no fixed repayment terms. 503,682 498,227