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Registered number: 02259561










Dynamic International Freight Services Limited










Financial statements

For the year ended 31 December 2024

 
Dynamic International Freight Services Limited
Registered number: 02259561

Balance sheet
As at 31 December 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
62,397
102,915

Investments
 6 
8,650
8,650

  
71,047
111,565

Current assets
  

Debtors: amounts falling due within one year
 7 
2,440,840
1,578,253

Cash at bank and in hand
  
630,149
1,395,068

  
3,070,989
2,973,321

Creditors: amounts falling due within one year
 8 
(2,500,886)
(1,632,517)

Net current assets
  
 
 
570,103
 
 
1,340,804

Total assets less current liabilities
  
641,150
1,452,369

Provisions for liabilities
  

Deferred tax
  
(13,277)
(23,100)

Other provisions
  
(141,153)
(141,153)

  
 
 
(154,430)
 
 
(164,253)

Net assets
  
486,720
1,288,116


Capital and reserves
  

Called up share capital 
  
24,310
24,310

Share premium account
  
95,358
95,358

Capital redemption reserve
  
40,000
40,000

Profit and loss account
  
327,052
1,128,448

  
486,720
1,288,116


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 by: 




S Arora
Director
Date: 10 July 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 1

 
Dynamic International Freight Services Limited
 

Statement of changes in equity
For the year ended 31 December 2024


Called up share capital
Share premium account
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£
£


At 1 January 2023
24,310
95,358
40,000
2,075,013
2,234,681


Comprehensive income for the year

Profit for the year
-
-
-
2,411,435
2,411,435


Contributions by and distributions to owners

Dividends
-
-
-
(3,358,000)
(3,358,000)



At 1 January 2024
24,310
95,358
40,000
1,128,448
1,288,116


Comprehensive income for the year

Profit for the year
-
-
-
296,687
296,687


Contributions by and distributions to owners

Dividends
-
-
-
(1,098,083)
(1,098,083)


At 31 December 2024
24,310
95,358
40,000
327,052
486,720


Page 2

 
Dynamic International Freight Services Limited
 

 
Notes to the financial statements
For the year ended 31 December 2024

1.


General information

Dynamic International Freight Services Limited is a private company, limited by shares, incorporated in England & Wales, company number 02259561. The registered office is 2nd Floor, 168 Shoreditch High street, London, E1 6RA and the principal place of business is Unit 1 Trident Industrial Estate, Blackthorne Road, Colnbrook, Slough, Berkshire, SL3 0AX.  The principal activity of the company is the provision of freight forwarding services.

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

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.4

Revenue

Revenue represents the amounts receivable from third parties for transporting filming equipment, including import, export, freight and carnet services. Revenue is recognised upon completion of the service.
Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

Page 3

 
Dynamic International Freight Services Limited
 

 
Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
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

Interest income

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

 
2.7

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.

 
2.8

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.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.10

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

 
Dynamic International Freight Services Limited
 

 
Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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 bases:

Short-term leasehold property
-
Over the life of the lease
Motor vehicles
-
20 - 25% straight line
Office equipment
-
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.

 
2.13

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.

 
2.14

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.

 
2.15

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

 
Dynamic International Freight Services Limited
 

 
Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
2.16

Provisions for liabilities

Provisions are recognised when 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 the related risks and uncertainties.
 
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.17

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.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

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 profit or loss. 

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 6

 
Dynamic International Freight Services Limited
 

 
Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)


2.17
Financial instruments (continued)


Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is 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 creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments 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 creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors 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.

 
2.18

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 38 (2023 - 37).

Page 7

 
Dynamic International Freight Services Limited
 

 
Notes to the financial statements
For the year ended 31 December 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 January 2024
8,000



At 31 December 2024

8,000



Amortisation


At 1 January 2024
8,000



At 31 December 2024

8,000



Net book value



At 31 December 2024
-



At 31 December 2023
-




5.


Tangible fixed assets





Short-term leasehold property
Motor vehicles
Office equipment
Total

£
£
£
£



Cost


At 1 January 2024
45,207
179,860
482,336
707,403


Additions
-
-
9,788
9,788



At 31 December 2024

45,207
179,860
492,124
717,191



Depreciation


At 1 January 2024
45,207
134,104
425,177
604,488


Charge for the year
-
26,738
23,568
50,306



At 31 December 2024

45,207
160,842
448,745
654,794



Net book value



At 31 December 2024
-
19,018
43,379
62,397



At 31 December 2023
-
45,756
57,159
102,915

Page 8

 
Dynamic International Freight Services Limited
 

 
Notes to the financial statements
For the year ended 31 December 2024

6.


Fixed asset investments





Other fixed asset investments

£



Cost


At 1 January 2024
8,650



At 31 December 2024
8,650





7.


Debtors

2024
2023
£
£


Trade debtors
1,278,531
1,297,853

Amounts owed by group undertakings
407,363
71,555

Other debtors
518,479
30,817

Prepayments and accrued income
236,467
178,028

2,440,840
1,578,253



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
892,213
768,446

Amounts owed to group undertakings
1,002,812
192,041

Corporation tax
-
191,955

Other taxation and social security
-
80,380

Other creditors
605,861
399,695

2,500,886
1,632,517



9.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases of £400,101 (2023: £677,191).


10.


Contingent liabilities

There is a charge over the assets of the company in favour of Barings Bank Plc to guarantee a loan with the group undertakings.  The balances at 31 December 2024 were $41,244,290 and £15,889,745.

Page 9

 
Dynamic International Freight Services Limited
 

 
Notes to the financial statements
For the year ended 31 December 2024

11.


Controlling party

The immediate parent company is RICH Forwarding Limited, a company registered in England and Wales, whose registered office is 2nd Floor, 168 Shoreditch High Street, London, E1 6RA.
The ultimate parent undertaking is ATL RIC LP, a company registered in the Cayman Islands, and in which no individual has a controlling interest.


12.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 11 July 2025 by Robert Sellers FCCA (Senior statutory auditor) on behalf of Kreston Reeves LLP.


Page 10