Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-31 2024-12-31 2025-05-23 2025-05-23 No description of principal activity false false true true 2024-05-31 3 15751722 2024-05-30 15751722 2024-05-31 2024-12-31 15751722 2023-05-31 2024-05-30 15751722 2024-12-31 15751722 c:Director2 2024-05-31 2024-12-31 15751722 d:CurrentFinancialInstruments 2024-12-31 15751722 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 15751722 d:ShareCapital 2024-05-31 2024-12-31 15751722 d:ShareCapital 2024-12-31 15751722 d:RetainedEarningsAccumulatedLosses 2024-05-31 2024-12-31 15751722 d:RetainedEarningsAccumulatedLosses 2024-12-31 15751722 c:FRS102 2024-05-31 2024-12-31 15751722 c:Audited 2024-05-31 2024-12-31 15751722 c:FullAccounts 2024-05-31 2024-12-31 15751722 c:PrivateLimitedCompanyLtd 2024-05-31 2024-12-31 15751722 d:Subsidiary1 2024-05-31 2024-12-31 15751722 d:Subsidiary1 1 2024-05-31 2024-12-31 15751722 c:SmallCompaniesRegimeForAccounts 2024-05-31 2024-12-31 15751722 6 2024-05-31 2024-12-31 15751722 e:USDollar 2024-05-31 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 15751722 FIS PHYSICAL LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE PERIOD ENDED 31 DECEMBER 2024
FIS PHYSICAL LIMITED CONTENTS
| Page
Balance Sheet | 1
Statement of Changes in Equity | 2
Notes to the Financial Statements | 3 - 7
FIS PHYSICAL LIMITED REGISTERED NUMBER: 15751722 BALANCE SHEET AS AT 31 DECEMBER 2024
|  | 2024
Note |  | $
Fixed assets |  |  |
Investments | 4 |  | 4,198,137
Current assets |  |  |
Debtors: amounts falling due within one year | 5 | 175,781 |
Bank and cash balances |  | 50,869 |
|  | 226,650 |
Creditors: amounts falling due within one year | 6 | (21,365) |
Net current assets |  |  | 205,285
Net assets |  |  | 4,403,422
Capital and reserves |  |  |
Called up share capital |  |  | 12,645
Profit and loss account |  |  | 4,390,777
|  |  | 4,403,422
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 23 May 2025.
D Banaszkiewicz
Director
The notes on pages 3 to 7 form part of these financial statements. Page 1
FIS PHYSICAL LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 31 DECEMBER 2024
| Called up share capital | Profit and loss account | Total equity
| $ | $ | $
Comprehensive income for the period |  |  |
Profit for the period | - | 1,631,221 | 1,631,221
Contributions by and distributions to owners |  |  |
Shares issued during the period | 12,645 | - | 12,645
Capital contribution | - | 7,396,240 | 7,396,240
Dividends: Equity capital | - | (4,636,684) | (4,636,684)
At 31 December 2024 | 12,645 | 4,390,777 | 4,403,422
| The notes on pages 3 to 7 form part of these financial statements.
Page 2
FIS PHYSICAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
1. | General information
The company is a private company limited by shares, and is incorporated in England and Wales. The registered office is 80 Cannon Street, London, EC4N 6HL. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. The following principal accounting policies have been applied:
| 2.2 | Exemption from preparing consolidated financial statements
The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.
| 2.3 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is USD. 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
FIS PHYSICAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.3 | Foreign currency translation (continued)
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. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
| 2.4 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.5 | 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.
| 2.6 | 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.
| 2.7 | 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.
| 2.8 | 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. Page 4
FIS PHYSICAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.8 | Financial instruments (continued)
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. Basic 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.
| 2.9 | 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. | Employees
| The average monthly number of employees, including directors, during the period was 3.
Page 5
FIS PHYSICAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
4. | Fixed asset investments
|  | Investments in subsidiary companies
|  | $
| Cost |
| Additions | 4,198,137
| At 31 December 2024 | 4,198,137
| Subsidiary undertaking
| The following was a subsidiary undertaking of the Company:
| Name | Registered office | Principal activity | Class of shares | Holding
| FIS Hellas S.A. (formerly GR8 Chartering Hellas S.A.) | 80 Broad Street, Monrovia, Liberia | Physical shipping broker | Ordinary | 100%
5. | Debtors
|  |  |  |  | 2024
|  |  |  |  | $
| Amounts owed by group undertakings | 25,781
| Prepayments and accrued income | 150,000
|  | 175,781
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024
|  |  |  |  | $
| Amounts owed to group undertakings | 15,724
| Accruals and deferred income | 5,641
|  | 21,365
Page 6
FIS PHYSICAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
7. | Controlling party
The smallest group for which consolidated financial statements are prepared which include the results of this company is that headed by Freight Investor (Holdings) Limited which are available to the public and may be obtained from 80 Cannon Street, London, EC4N 6HL.
8. | Auditors' information
The auditors' report on the financial statements for the period ended 31 December 2024 was unqualified. The audit report was signed on 23 May 2025 by David Pumfrey FCA (Senior Statutory Auditor) on behalf of Sumer Auditco Limited.
Page 7