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Registration number: 11580604

Del-X Express Delivery Limited

Unaudited Financial Statements

for the Year Ended 31 July 2023

 

Del-X Express Delivery Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Del-X Express Delivery Limited

Company Information

Directors

D Smith

M Smith

Registered office

Unit 2 Hunters Lodge
Mowsley Road
Theddingworth
Leics
LE17 6PY

 

Del-X Express Delivery Limited

(Registration number: 11580604)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

23,915

29,700

Current assets

 

Debtors

5

78,603

48,955

Cash at bank and in hand

 

7,429

1,595

 

86,032

50,550

Creditors: Amounts falling due within one year

6

(74,890)

(39,017)

Net current assets

 

11,142

11,533

Total assets less current liabilities

 

35,057

41,233

Creditors: Amounts falling due after more than one year

6

(30,084)

(34,750)

Provisions for liabilities

(4,544)

(5,643)

Net assets

 

429

840

Capital and reserves

 

Called up share capital

100

100

Retained earnings

329

740

Shareholders' funds

 

429

840

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 October 2023 and signed on its behalf by:
 

 

Del-X Express Delivery Limited

(Registration number: 11580604)
Balance Sheet as at 31 July 2023

.........................................
D Smith
Director

 

Del-X Express Delivery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 2 Hunters Lodge
Mowsley Road
Theddingworth
Leics
LE17 6PY

These financial statements were authorised for issue by the Board on 17 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Del-X Express Delivery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

 

Del-X Express Delivery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 3).

 

Del-X Express Delivery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2022

-

40,187

40,187

Additions

166

-

166

At 31 July 2023

166

40,187

40,353

Depreciation

At 1 August 2022

-

10,487

10,487

Charge for the year

11

5,940

5,951

At 31 July 2023

11

16,427

16,438

Carrying amount

At 31 July 2023

155

23,760

23,915

At 31 July 2022

-

29,700

29,700

5

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

16,627

15,057

Amounts owed by related parties

9

14,938

-

Prepayments

 

84

-

Other debtors

 

46,954

33,898

   

78,603

48,955

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

11

4,667

4,667

Trade creditors

 

14,390

8,640

Taxation and social security

 

45,622

24,393

Accruals and deferred income

 

1,285

1,285

Other creditors

 

8,926

32

 

74,890

39,017

 

Del-X Express Delivery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

included within creditors is a loan which was acquired under the Bounce Back Loan Scheme (BBLS) which is managed by the British Business Bank on behalf of, and with the financial back of, the secretary of State for Business, Energy and Industrial Strategy.

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

11

30,084

34,750

included within creditors is a loan which was acquired under the Bounce Back Loan Scheme (BBLS) which is managed by the British Business Bank on behalf of, and with the financial back of, the secretary of State for Business, Energy and Industrial Strategy.

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

8

Dividends

   

2023

 

2022

   

£

 

£

         

9

Related party transactions

At the balance sheet date the company owed £8,747 to Mr D Smith, the director of the company. This loan is provided interest free and is repayable on demand.

10

Parent and ultimate parent undertaking

The ultimate controlling party is D Smith by virtue of his sole shareholding.

11

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

30,084

34,750

 

Del-X Express Delivery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

2023
£

2022
£

Current loans and borrowings

Bank borrowings

4,667

4,667