Registration number:
Acclaim Parcel Express (Southampton) Limited
for the Year Ended 31 March 2023
Acclaim Parcel Express (Southampton) Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Acclaim Parcel Express (Southampton) Limited
Company Information
Chairman |
Mr Thomas Christopher Flood |
Directors |
Mrs Sarah Louise Hooper Mr Christopher Richard Aldridge Mr Christopher Mark Hall Miss Elizabeth Helen Collyer |
Registered office |
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Accountants |
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Acclaim Parcel Express (Southampton) Limited
(Registration number: 02879253)
Balance Sheet as at 31 March 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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|
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Other financial assets |
1,501 |
1,501 |
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|
|
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Current assets |
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Debtors |
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Cash at bank and in hand |
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|
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
51 |
51 |
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Capital redemption reserve |
49 |
49 |
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Retained earnings |
384,094 |
334,482 |
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Shareholders' funds |
384,194 |
334,582 |
For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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 Directors' Report and Profit and Loss Account.
Acclaim Parcel Express (Southampton) Limited
(Registration number: 02879253)
Balance Sheet as at 31 March 2023
Approved and authorised by the
Mr Thomas Christopher Flood
Chairman
Acclaim Parcel Express (Southampton) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover represents amounts chargeable, net of value added tax, in respect of the services supplied to customers.
Revenue is recognised to the extent that the company obtains the right to consideration for its' performance.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss.
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.
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.
Acclaim Parcel Express (Southampton) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
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 over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
15.00-20.00% straight line basis |
Motor vehicles |
25.00% reducing balance basis |
Office equipment |
15.00-33.33% reducing balance basis |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Goodwill has been fully amortised.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
Fully amortised |
Investments
Investment in unquoted shares is stated at par.
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price but where there is a contra agreement in place the totals shown in the accounts have been adjusted for the effective offset due at the end of the financial period.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Trade creditors are recognised initially at the transaction price but where there is a contra agreement in place the totals shown in the accounts have been adjusted for the effective offset due at the end of the financial period.
Acclaim Parcel Express (Southampton) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the lease term.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. Assets held under finance leases are capitalised in the balance sheet as tangible fixed assets and are depreciated over their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease.
Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over their useful lives. The capital element of future finance payments is included within creditors and finance charges are allocated to accounting periods over the length of the contract.
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Acclaim Parcel Express (Southampton) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 April 2022 |
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At 31 March 2023 |
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Amortisation |
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At 1 April 2022 |
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At 31 March 2023 |
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Carrying amount |
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At 31 March 2023 |
- |
- |
Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 April 2022 |
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Additions |
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- |
- |
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Disposals |
- |
( |
- |
( |
At 31 March 2023 |
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Depreciation |
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At 1 April 2022 |
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Charge for the year |
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Eliminated on disposal |
- |
( |
- |
( |
At 31 March 2023 |
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Carrying amount |
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At 31 March 2023 |
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At 31 March 2022 |
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Acclaim Parcel Express (Southampton) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Other financial assets (current and non-current) |
Financial assets at cost less impairment |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 April 2022 |
1,501 |
1,501 |
At 31 March 2023 |
1,501 |
1,501 |
Carrying amount |
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At 31 March 2023 |
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1,501 |
Debtors |
Current |
Note |
2023 |
2022 |
Trade debtors |
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Amounts owed by related parties |
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Prepayments |
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Other debtors |
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Other debtors include an amount of £109,927 (2022 - £110,185) due from the exchange operated by Bartercard (UK) Limited (Bartercard). Bartercard states in its' own accounts that it has no obligation to the trade exchange and the recoverability of the debt is therefore dependant on the ability of the company to receive at least an equivalent value from the exchange for goods or services purchased through the exchange.
Acclaim Parcel Express (Southampton) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Net obligations under finance leases and hire purchase |
11,698 |
26,944 |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
- |
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The finance leases and hire purchase contracts are secured on the assets concerned.
Creditors: amounts falling due after more than one year
2023 |
2022 |
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Net obligations under finance leases and hire purchase |
11,356 |
55,279 |
The finance leases and hire purchase contracts are secured on the assets concerned.
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £Nil (2022 - £
The total amount of guarantees not included in the balance sheet is £1,718,455 (2022 - £1,961,597). The aforesaid amounts relate to the amounts payable by a fellow subsidiary in respect of leasehold property over the remaining life of the leases in respect of which the company is a guarantor.
The company has also entered into an unlimited guarantee in favour of a third party in respect of debts due to that party from a fellow subsidiary.
The total amount of financial commitments not included in the balance sheet undertaken on behalf of any parent undertaking or any fellow subsidiary undertaking is £Nil (2022 - £718).
Acclaim Parcel Express (Southampton) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Related party transactions |
Loans to related parties
2023 |
Entities with joint control or significant influence |
Total |
At start of period |
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Advanced |
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At end of period |
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2022 |
Entities with joint control or significant influence |
Total |
Advanced |
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At end of period |
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Terms of loans to related parties
Acclaim Parcel Express (Southampton) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Loans from related parties
2023 |
Entities with joint control or significant influence |
Total |
At start of period |
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Advanced |
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Repaid |
( |
( |
At end of period |
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2022 |
Parent |
Entities with joint control or significant influence |
Total |
At start of period |
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Advanced |
- |
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Repaid |
( |
( |
( |
At end of period |
- |
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Terms of loans from related parties
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is