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Registered number: 02781100









CALIBRE ROUTEX GROUP LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
CALIBRE ROUTEX GROUP LIMITED
REGISTERED NUMBER: 02781100

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
362,277
471,016

Fixed assets investments
 6 
-
-

  
362,277
471,016

Current assets
  

Debtors: amounts falling due within one year
 7 
753,797
1,065,960

Cash at bank and in hand
 8 
1,468,127
1,450,145

  
2,221,924
2,516,105

Creditors: amounts falling due within one year
 9 
(970,031)
(1,239,344)

Net current assets
  
 
 
1,251,893
 
 
1,276,761

Total assets less current liabilities
  
1,614,170
1,747,777

Provisions for liabilities
  

Deferred tax
 10 
(44,326)
(68,560)

Other provisions
 11 
(15,000)
(15,000)

  
 
 
(59,326)
 
 
(83,560)

Net assets
  
1,554,844
1,664,217


Capital and reserves
  

Called up share capital 
 12 
340
340

Capital redemption reserve
  
750
750

Profit and loss account
  
1,553,754
1,663,127

  
1,554,844
1,664,217


Page 1

 
CALIBRE ROUTEX GROUP LIMITED
REGISTERED NUMBER: 02781100
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

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 




K J Matthews
Director

Date: 22 October 2024

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

Page 2

 
CALIBRE ROUTEX GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Calibre Routex Group Limited is a private company limited by shares and incorporated in England and Wales. The registered office address of the company is Questor House, 191 Hawley Road, Dartford, Kent, DA1 1PU.
The principal activity of the company is that of shipping and freight forwarding agents.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 3

 
CALIBRE ROUTEX GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.3

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.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year 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 4

 
CALIBRE ROUTEX GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

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, on the following basis.


Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
25%
reducing balance
Office equipment
-
25%
reducing balance

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

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

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.

 
2.10

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.

 
2.11

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.

Page 5

 
CALIBRE ROUTEX GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

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.

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.

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 6

 
CALIBRE ROUTEX GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.14

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.


Judgments in applying accounting policies and key sources of estimation uncertainty

a) Critical judgements in applying the company's accounting policies:
There were no significant judgments exercised by management in the preparation of the financial statements.
b) Key accounting estimates and assumptions:
The company made key assumptions regarding:
- the useful economic life of tangible fixed assets and this is further described in note 2.7 of accounting policies.
- the directors have made estimates and assumptions regarding a dilapidation provision. These estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant and reviewed on an ongoing basis. The amounts have been recognised in the year are listed below:
Dilapidation provision (property) - £15,000 
(2023- £15,000)


4.


Employees

The average monthly number of employees, including directors, during the year was 28 (2023 - 26).

Page 7

 
CALIBRE ROUTEX GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 February 2023
873,244
43,627
199,625
1,116,496



At 31 January 2024

873,244
43,627
199,625
1,116,496



Depreciation


At 1 February 2023
450,643
38,979
155,858
645,480


Charge for the year on owned assets
107,701
168
870
108,739



At 31 January 2024

558,344
39,147
156,728
754,219



Net book value



At 31 January 2024
314,900
4,480
42,897
362,277



At 31 January 2023
422,601
4,648
43,767
471,016

Page 8

 
CALIBRE ROUTEX GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 February 2023
534,916



At 31 January 2024

534,916



Impairment


At 1 February 2023
534,916



At 31 January 2024

534,916



Net book value



At 31 January 2024
-



At 31 January 2023
-


7.


Debtors

2024
2023
£
£


Trade debtors
632,783
942,721

Other debtors
48,956
50,951

Prepayments and accrued income
72,058
72,288

753,797
1,065,960



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,468,127
1,450,145


Page 9

 
CALIBRE ROUTEX GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
561,593
734,030

Amounts owed to group undertakings
5,000
5,000

Corporation tax
64,182
64,976

Other taxation and social security
25,950
35,888

Other creditors
149,244
74,457

Accruals and deferred income
164,062
324,993

970,031
1,239,344



10.


Deferred taxation




2024
2023


£

£






At beginning of year
(68,560)
(65,721)


Credited to profit or loss
24,234
(2,839)



At end of year
(44,326)
(68,560)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(44,326)
(68,560)

(44,326)
(68,560)

Page 10

 
CALIBRE ROUTEX GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

11.


Provisions




Dilapidation provision

£





At 1 February 2023
15,000



At 31 January 2024
15,000

The company's policy is to provide dilapidation costs in respect of the foreseeable costs of reinstatement of the leased property at the expiry of the existing lease.


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



50 (2023 - 50) Ordinary A shares of £1.00 each
50
50
250 (2023 - 250) Ordinary D shares of £1.00 each
250
250
30 (2023 - 30) Ordinary E shares of £1.00 each
30
30
10 (2023 - 10) Ordinary F shares of £1.00 each
10
10

340

340



13.


Pension commitments

The company operates defined contribution pension schemes. The assets of the schemes are held separately from those of the company in independently administered funds. The pension cost charge represents contributions payable by the company to the funds and amounted to £118,371 (2023: £122,541). The outstanding contributions at the year end amounted to £Nil (2023: £Nil).


14.


Related party transactions

The directors have an interest in dividends paid during the year of £227,000 (2023: £197,000).
Included within other creditors due within one year is an amount owed to the directors of £34,560 
(2023: £32,480).


15.


Auditors' information

The auditors' report on the financial statements for the year ended 31 January 2024 was unqualified.

The audit report was signed on 22 October 2024 by Gary Sargeant (Senior statutory auditor) on behalf of Sargeant Partnership LLP.

Page 11