Company registration number 06529954 (England and Wales)
PACK AND SEND UK LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
PACK AND SEND UK LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 10
PACK AND SEND UK LTD
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PACK AND SEND UK LTD FOR THE YEAR ENDED 31 MARCH 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pack and Send UK Ltd for the year ended 31 March 2023 from the company's accounting records and from information and explanations you have given us.

We have not been instructed to carry out an audit or a review of the financial statements of Pack and Send UK Ltd. 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.

Goringe Accountants Ltd
7 September 2023
Accountants
Waterside
1650 Arlington Business Park
Theale
Reading
RG7 4SA
PACK AND SEND UK LTD
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
4
15,414
30,831
Tangible assets
5
14,959
20,527
Investments
6
1
1
30,374
51,359
Current assets
Debtors
7
95,011
143,245
Cash at bank and in hand
319,736
110,782
414,747
254,027
Creditors: amounts falling due within one year
8
(123,827)
(103,961)
Net current assets
290,920
150,066
Total assets less current liabilities
321,294
201,425
Creditors: amounts falling due after more than one year
9
-
0
(39,814)
Provisions for liabilities
(2,842)
-
0
Net assets
318,452
161,611
Capital and reserves
Called up share capital
11
1,000
1,000
Share premium account
349,000
349,000
Profit and loss reserves
(31,548)
(188,389)
Total equity
318,452
161,611

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

PACK AND SEND UK LTD
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023
31 March 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 7 September 2023 and are signed on its behalf by:
S Spaccia
Director
Company Registration No. 06529954
PACK AND SEND UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
1
Accounting policies
Company information

Pack and Send UK Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 3a Tournament Court, Tournament Fields, Warwick, Warwickshire, CV34 6LG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Intangible fixed assets and amortisation
15 years straight line
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
20% per annum straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

PACK AND SEND UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 5 -
1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of 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 deducting all of its liabilities.

PACK AND SEND UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 6 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

 

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

PACK AND SEND UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 7 -
1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.15

Preparation of consolidated financial statements

The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. Accordingly these financial statements contain the results and position of the company only, and not as the parent of a group.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
8
8
PACK AND SEND UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 8 -
4
Intangible fixed assets
Other
£
Cost
At 1 April 2022 and 31 March 2023
231,254
Amortisation and impairment
At 1 April 2022
200,423
Amortisation charged for the year
15,417
At 31 March 2023
215,840
Carrying amount
At 31 March 2023
15,414
At 31 March 2022
30,831
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 and 31 March 2023
34,587
Depreciation and impairment
At 1 April 2022
14,060
Depreciation charged in the year
5,568
At 31 March 2023
19,628
Carrying amount
At 31 March 2023
14,959
At 31 March 2022
20,527
6
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
1
1
Fixed asset investments not carried at market value

Fixed asset investments are measured at cost as no market values can easily be determined.

PACK AND SEND UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 9 -
7
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
48,345
71,835
Amounts owed by group undertakings
23,873
26,354
Other debtors
22,793
8,923
95,011
107,112
2023
2022
Amounts falling due after more than one year:
£
£
Deferred tax asset
-
0
36,133
Total debtors
95,011
143,245
8
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
-
0
17,863
Trade creditors
43,295
32,651
Taxation and social security
64,617
48,036
Other creditors
15,915
5,411
123,827
103,961
9
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
-
0
39,814
10
Share-based payment transactions
Number of share options
Weighted average exercise price
2023
2022
2023
2022
Number
Number
£
£
Outstanding at 1 April 2022 and 31 March 2023
210
210
81.99
81.99
Exercisable at 31 March 2023
-
0
-
0
-
0
-
0
PACK AND SEND UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
10
Share-based payment transactions
(Continued)
- 10 -

70 share options were granted to Graeme Paul Rhodes on 7th March 2019. This gave him the option to purchase the company's shares capital at nominal value. No options were exercised and the full 70 options are exercisable when deemed probable, in case of exit event. There was no maximum term for these options.

 

70 share options were granted to Anthony Eric Fowles on 8th March 2019. This gave him the option to purchase the company's shares capital at nominal value. No options were exercised and the full 70 options are exercisable when deemed probable, in case of exit event. There was no maximum term for these options.

 

70 share options were granted to Richard Webb on 9th May 2019. This gave him the option to purchase the company's shares capital at nominal value. No options were exercised and the full 70 options are exercisable when deemed probable, in case of exit event. There was no maximum term for these options.

11
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
1,000 Ordinary shares of £1 each
1,000
1,000
12
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
204,750
231,750
13
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Royalties and advertising contributions
2023
2022
£
£
Entities with control, joint control or significant influence over the company
80,362
70,849

The following amounts were outstanding at the reporting end date:

2023
2022
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the company
24,366
26,354
2023-03-312022-04-01false07 September 2023CCH SoftwareCCH Accounts Production 2023.100No description of principal activityMs B J RyanMr M GrealeyMr M P RyanS M ButlerP CominoneJ A EdwardsG RudiS Spaccia065299542022-04-012023-03-31065299542023-03-31065299542022-03-3106529954core:IntangibleAssetsOtherThanGoodwill2023-03-3106529954core:IntangibleAssetsOtherThanGoodwill2022-03-3106529954core:OtherPropertyPlantEquipment2023-03-3106529954core:OtherPropertyPlantEquipment2022-03-3106529954core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3106529954core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3106529954core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3106529954core:Non-currentFinancialInstrumentscore:AfterOneYear2022-03-3106529954core:CurrentFinancialInstruments2023-03-3106529954core:CurrentFinancialInstruments2022-03-3106529954core:ShareCapital2023-03-3106529954core:ShareCapital2022-03-3106529954core:SharePremium2023-03-3106529954core:SharePremium2022-03-3106529954core:RetainedEarningsAccumulatedLosses2023-03-3106529954core:RetainedEarningsAccumulatedLosses2022-03-3106529954bus:Director82022-04-012023-03-3106529954core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3106529954core:PatentsTrademarksLicencesConcessionsSimilar2022-04-012023-03-3106529954core:FurnitureFittings2022-04-012023-03-31065299542021-04-012022-03-3106529954core:IntangibleAssetsOtherThanGoodwill2022-03-3106529954core:OtherPropertyPlantEquipment2022-03-3106529954core:OtherPropertyPlantEquipment2022-04-012023-03-3106529954core:WithinOneYear2023-03-3106529954core:WithinOneYear2022-03-3106529954core:AfterOneYear2023-03-3106529954core:AfterOneYear2022-03-3106529954core:Non-currentFinancialInstruments2023-03-3106529954core:Non-currentFinancialInstruments2022-03-31065299542022-03-31065299542021-03-3106529954bus:PrivateLimitedCompanyLtd2022-04-012023-03-3106529954bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3106529954bus:FRS1022022-04-012023-03-3106529954bus:AuditExemptWithAccountantsReport2022-04-012023-03-3106529954bus:Director12022-04-012023-03-3106529954bus:Director22022-04-012023-03-3106529954bus:Director32022-04-012023-03-3106529954bus:Director42022-04-012023-03-3106529954bus:Director52022-04-012023-03-3106529954bus:Director62022-04-012023-03-3106529954bus:Director72022-04-012023-03-3106529954bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP