REGISTERED NUMBER: |
Road Runners Despatch Limited |
Report of the Directors and |
Unaudited Financial Statements |
for the year ended |
31 May 2022 |
REGISTERED NUMBER: |
Road Runners Despatch Limited |
Report of the Directors and |
Unaudited Financial Statements |
for the year ended |
31 May 2022 |
Road Runners Despatch Limited (Registered number: 02459656) |
Contents of the Financial Statements |
for the year ended 31 May 2022 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Chartered Accountants' Report | 3 |
Income Statement | 4 |
Statement of Financial Position | 5 | to | 6 |
Notes to the Financial Statements | 7 | to | 9 |
Road Runners Despatch Limited |
Company Information |
for the year ended 31 May 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Yare House |
62-64 Thorpe Road |
Norwich |
Norfolk |
NR1 1RY |
Road Runners Despatch Limited (Registered number: 02459656) |
Report of the Directors |
for the year ended 31 May 2022 |
The directors present their report with the financial statements of the company for the year ended 31 May 2022. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 June 2021 to the date of this report. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
Director |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Road Runners Despatch Limited |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Road Runners Despatch Limited for the year ended 31 May 2022 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Road Runners Despatch Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Road Runners Despatch Limited and state those matters that we have agreed to state to the Board of Directors of Road Runners Despatch Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Road Runners Despatch Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Road Runners Despatch Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Road Runners Despatch Limited. You consider that Road Runners Despatch Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Road Runners Despatch Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
Yare House |
62-64 Thorpe Road |
Norwich |
Norfolk |
NR1 1RY |
Road Runners Despatch Limited (Registered number: 02459656) |
Income Statement |
for the year ended 31 May 2022 |
2022 | 2021 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
OPERATING PROFIT and |
PROFIT BEFORE TAXATION |
Tax on profit |
PROFIT FOR THE FINANCIAL YEAR |
Road Runners Despatch Limited (Registered number: 02459656) |
Statement of Financial Position |
31 May 2022 |
2022 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Road Runners Despatch Limited (Registered number: 02459656) |
Statement of Financial Position - continued |
31 May 2022 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Road Runners Despatch Limited (Registered number: 02459656) |
Notes to the Financial Statements |
for the year ended 31 May 2022 |
1. | STATUTORY INFORMATION |
Road Runners Despatch Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
These financial statements for the year ended 31 May 2022 are the first that are prepared in accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with FRS 105, the date of transition to FRS 102 Section 1A is 1 June 2020. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Property, plant and equipment |
Equipment | - |
Motor vehicles | - |
Financial instruments |
Short term debtors are measured at transaction price, less any impairment. |
Short term creditors are measured at the transaction price. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Taxation |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Road Runners Despatch Limited (Registered number: 02459656) |
Notes to the Financial Statements - continued |
for the year ended 31 May 2022 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Employee benefits |
Short-term employee benefits are recognised as an expense in the period in which they are incurred. |
Termination benefits are recognised only when the company is demonstrably committed to terminate the employment of an employee or a group of employees before their normal retirement date or to provide termination benefits as a result of an offer made in order to encourage voluntary redundancy. |
Provisions |
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, when it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. |
Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date. |
Government grants |
Grants are accounted for under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in other income within profit or loss. This includes the Government Coronavirus Job Retention Scheme ('Furlough'). |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | OPERATING PROFIT |
The operating profit is stated after charging: |
2022 | 2021 |
£ | £ |
Depreciation - owned assets |
Road Runners Despatch Limited (Registered number: 02459656) |
Notes to the Financial Statements - continued |
for the year ended 31 May 2022 |
5. | TANGIBLE FIXED ASSETS |
Motor |
Equipment | vehicles | Totals |
£ | £ | £ |
COST |
At 1 June 2021 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 May 2022 |
DEPRECIATION |
At 1 June 2021 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 May 2022 |
NET BOOK VALUE |
At 31 May 2022 |
At 31 May 2021 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | FIRST YEAR ADOPTION |
These financial statements for the year ended 31 May 2022 are the first that are prepared in accordance with FRS 102 section 1A. Previous financial statements were prepared in accordance with FRS 105. No transitional adjustments have been required to the comparative period. |