Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-04-01falseNo description of principal activity11truetrue 07224434 2023-04-01 2024-03-31 07224434 2022-04-01 2023-03-31 07224434 2024-03-31 07224434 2023-03-31 07224434 c:Director1 2023-04-01 2024-03-31 07224434 d:MotorVehicles 2023-04-01 2024-03-31 07224434 d:MotorVehicles 2024-03-31 07224434 d:MotorVehicles 2023-03-31 07224434 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07224434 d:FurnitureFittings 2023-04-01 2024-03-31 07224434 d:FurnitureFittings 2024-03-31 07224434 d:FurnitureFittings 2023-03-31 07224434 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07224434 d:OfficeEquipment 2023-04-01 2024-03-31 07224434 d:OfficeEquipment 2024-03-31 07224434 d:OfficeEquipment 2023-03-31 07224434 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07224434 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07224434 d:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 07224434 d:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 07224434 d:CurrentFinancialInstruments 2024-03-31 07224434 d:CurrentFinancialInstruments 2023-03-31 07224434 d:Non-currentFinancialInstruments 2024-03-31 07224434 d:Non-currentFinancialInstruments 2023-03-31 07224434 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 07224434 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07224434 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 07224434 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07224434 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 07224434 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 07224434 d:ShareCapital 2024-03-31 07224434 d:ShareCapital 2023-03-31 07224434 d:RetainedEarningsAccumulatedLosses 2024-03-31 07224434 d:RetainedEarningsAccumulatedLosses 2023-03-31 07224434 c:OrdinaryShareClass1 2023-04-01 2024-03-31 07224434 c:OrdinaryShareClass1 2024-03-31 07224434 c:OrdinaryShareClass1 2023-03-31 07224434 c:FRS102 2023-04-01 2024-03-31 07224434 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07224434 c:FullAccounts 2023-04-01 2024-03-31 07224434 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07224434 d:HirePurchaseContracts d:WithinOneYear 2024-03-31 07224434 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 07224434 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-03-31 07224434 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 07224434 d:HirePurchaseContracts d:MoreThanFiveYears 2024-03-31 07224434 d:HirePurchaseContracts d:MoreThanFiveYears 2023-03-31 07224434 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 07224434 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 07224434 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07224434









GLOBAL FREIGHT FORWARDERS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
GLOBAL FREIGHT FORWARDERS LIMITED
REGISTERED NUMBER: 07224434

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
48,417
65,395

  
48,417
65,395

Current assets
  

Debtors: amounts falling due within one year
 6 
126,950
215,572

Cash at bank and in hand
  
342,956
276,575

  
469,906
492,147

Creditors: amounts falling due within one year
 7 
(119,756)
(145,089)

Net current assets
  
 
 
350,150
 
 
347,058

Total assets less current liabilities
  
398,567
412,453

Creditors: amounts falling due after more than one year
 8 
(56,582)
(72,503)

Provisions for liabilities
  

Deferred tax
  
(12,104)
-

  
 
 
(12,104)
 
 
-

Net assets
  
329,881
339,950


Capital and reserves
  

Called up share capital 
 12 
3
3

Profit and loss account
  
329,878
339,947

  
329,881
339,950


Page 1

 
GLOBAL FREIGHT FORWARDERS LIMITED
REGISTERED NUMBER: 07224434
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 income and retained earnings 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 7 January 2025.




Misba Hiridjee
Director

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

Page 2

 
GLOBAL FREIGHT FORWARDERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 07224434.  The Company's registered office is Ingleby House, 11-14 Cannon St, Birmingham, B2 5EN.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are rounded to the nearest £1. 

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.

Cash flow
Under Financial Reporting Standard 102, the company is exempt from the requirement to prepare a cash flow statement on the grounds that it qualifies as a small company.

 
2.2

Going concern

The director has prepared the accounts on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 3

 
GLOBAL FREIGHT FORWARDERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

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.

 
2.6

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.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
GLOBAL FREIGHT FORWARDERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

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.

Page 5

 
GLOBAL FREIGHT FORWARDERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

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 method
Fixtures and fittings
-
25%
Straight-line method
Office equipment
-
25%
Straight-line method

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.

 
2.11

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

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.

Page 6

 
GLOBAL FREIGHT FORWARDERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Intangible assets




Patents

£



Cost


At 1 April 2023
24,530



At 31 March 2024

24,530



Amortisation


At 1 April 2023
24,530



At 31 March 2024

24,530



Net book value



At 31 March 2024
-



At 31 March 2023
-



Page 7

 
GLOBAL FREIGHT FORWARDERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
76,222
5,478
9,051
90,751


Additions
-
-
850
850



At 31 March 2024

76,222
5,478
9,901
91,601



Depreciation


At 1 April 2023
15,244
2,801
7,311
25,356


Charge for the year on owned assets
15,244
1,339
1,245
17,828



At 31 March 2024

30,488
4,140
8,556
43,184



Net book value



At 31 March 2024
45,734
1,338
1,345
48,417



At 31 March 2023
60,978
2,677
1,740
65,395


6.


Debtors

2024
2023
£
£


Trade debtors
126,818
215,472

Other debtors
132
100

126,950
215,572


Page 8

 
GLOBAL FREIGHT FORWARDERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
25,575
37,213

Corporation tax
6,806
11,588

Other taxation and social security
-
6,948

Obligations under finance lease and hire purchase contracts
5,922
5,632

Other creditors
70,263
72,518

Accruals and deferred income
1,190
1,190

119,756
145,089



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
12,500
22,500

Net obligations under finance leases and hire purchase contracts
44,082
50,003

56,582
72,503


Page 9

 
GLOBAL FREIGHT FORWARDERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000


Amounts falling due 2-5 years

Bank loans
12,500
22,500


12,500
22,500


22,500
32,500



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
5,922
5,632

Between 1-5 years
6,226
5,922

Over 5 years
37,856
44,082

50,004
55,636


11.


Deferred taxation




2024


£






Charged to profit or loss
(12,104)



At end of year
(12,104)

Page 10

 
GLOBAL FREIGHT FORWARDERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
 
11.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(12,104)
-

(12,104)
-


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



3 (2023 - 3) Ordinary shares shares of £1.00 each
3
3



13.


Related party transactions

As at the balance sheet date £66,572 (2023: £67,021) was due to the director. The loan is interest free and repayable on demand.

 
Page 11