Acclaim Parcel Express (Southampton) Limited 02879253 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is parcel deliveries Digita Accounts Production Advanced 6.30.9574.0 true false true 02879253 2022-04-01 2023-03-31 02879253 2023-03-31 02879253 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2023-03-31 02879253 core:CurrentFinancialInstruments 2023-03-31 02879253 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 02879253 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 02879253 core:Goodwill 2023-03-31 02879253 core:FurnitureFittingsToolsEquipment 2023-03-31 02879253 core:MotorVehicles 2023-03-31 02879253 core:OtherPropertyPlantEquipment 2023-03-31 02879253 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-03-31 02879253 bus:SmallEntities 2022-04-01 2023-03-31 02879253 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 02879253 bus:FullAccounts 2022-04-01 2023-03-31 02879253 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 02879253 bus:RegisteredOffice 2022-04-01 2023-03-31 02879253 bus:Chairman 2022-04-01 2023-03-31 02879253 bus:Director5 2022-04-01 2023-03-31 02879253 bus:Director6 2022-04-01 2023-03-31 02879253 bus:Director7 2022-04-01 2023-03-31 02879253 bus:Director8 2022-04-01 2023-03-31 02879253 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 02879253 core:Goodwill 2022-04-01 2023-03-31 02879253 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 02879253 core:MotorVehicles 2022-04-01 2023-03-31 02879253 core:OfficeEquipment 2022-04-01 2023-03-31 02879253 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 02879253 core:PlantMachinery 2022-04-01 2023-03-31 02879253 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-04-01 2023-03-31 02879253 core:ParentEntities 2022-04-01 2023-03-31 02879253 1 2022-04-01 2023-03-31 02879253 countries:EnglandWales 2022-04-01 2023-03-31 02879253 2022-03-31 02879253 core:Goodwill 2022-03-31 02879253 core:FurnitureFittingsToolsEquipment 2022-03-31 02879253 core:MotorVehicles 2022-03-31 02879253 core:OtherPropertyPlantEquipment 2022-03-31 02879253 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-03-31 02879253 2021-04-01 2022-03-31 02879253 2022-03-31 02879253 core:CurrentFinancialInstruments 2022-03-31 02879253 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 02879253 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 02879253 core:FurnitureFittingsToolsEquipment 2022-03-31 02879253 core:MotorVehicles 2022-03-31 02879253 core:OtherPropertyPlantEquipment 2022-03-31 02879253 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-03-31 02879253 core:ParentEntities 2022-03-31 02879253 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2021-04-01 2022-03-31 02879253 core:ParentEntities 2021-04-01 2022-03-31 02879253 2021-03-31 02879253 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2021-03-31 02879253 core:ParentEntities 2021-03-31 iso4217:GBP xbrli:pure

Registration number: 02879253

Acclaim Parcel Express (Southampton) Limited

Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Acclaim Parcel Express (Southampton) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

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

Units A-C Griffin Industrial Park
Totton
Southampton
Hampshire
SO40 3SH

Accountants

R A Jones & Co
Chartered Accountants
38 Rumbridge Street
Totton
Southampton
Hampshire
SO40 9DS

 

Acclaim Parcel Express (Southampton) Limited

(Registration number: 02879253)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

23,223

91,595

Other financial assets

6

1,501

1,501

 

24,724

93,096

Current assets

 

Debtors

7

726,704

756,558

Cash at bank and in hand

 

109,983

84,695

 

836,687

841,253

Creditors: Amounts falling due within one year

8

(460,091)

(524,090)

Net current assets

 

376,596

317,163

Total assets less current liabilities

 

401,320

410,259

Creditors: Amounts falling due after more than one year

8

(11,356)

(55,279)

Provisions for liabilities

(5,770)

(20,398)

Net assets

 

384,194

334,582

Capital and reserves

 

Called up share capital

51

51

Capital redemption reserve

49

49

Retained earnings

384,094

334,482

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:

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 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 Board on 27 October 2023 and signed on its behalf by:
 

Mr Thomas Christopher Flood

Chairman

 

Acclaim Parcel Express (Southampton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
Units A-C Griffin Industrial Park
Totton
Southampton
Hampshire
SO40 3SH

These financial statements were authorised for issue by the Board on 27 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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2022 - 11).

 

Acclaim Parcel Express (Southampton) Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2022

15,000

15,000

At 31 March 2023

15,000

15,000

Amortisation

At 1 April 2022

15,000

15,000

At 31 March 2023

15,000

15,000

Carrying amount

At 31 March 2023

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

26,276

237,728

280

264,284

Additions

2,583

-

-

2,583

Disposals

-

(209,226)

-

(209,226)

At 31 March 2023

28,859

28,502

280

57,641

Depreciation

At 1 April 2022

21,627

151,027

35

172,689

Charge for the year

2,004

13,721

60

15,785

Eliminated on disposal

-

(154,056)

-

(154,056)

At 31 March 2023

23,631

10,692

95

34,418

Carrying amount

At 31 March 2023

5,228

17,810

185

23,223

At 31 March 2022

4,649

86,701

245

91,595

 

Acclaim Parcel Express (Southampton) Limited

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

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2022

1,501

1,501

At 31 March 2023

1,501

1,501

Carrying amount

At 31 March 2023

1,501

1,501

7

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

2,694

10,194

Amounts owed by related parties

10

600,720

597,559

Prepayments

 

12,578

9,131

Other debtors

 

110,712

139,674

   

726,704

756,558

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

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Net obligations under finance leases and hire purchase

 

11,698

26,944

Trade creditors

 

32,423

10,622

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

367,869

451,692

Taxation and social security

 

35,724

13,664

Accruals and deferred income

 

12,377

16,436

Other creditors

 

-

4,732

 

460,091

524,090

The finance leases and hire purchase contracts are secured on the assets concerned.

Creditors: amounts falling due after more than one year

2023
£

2022
£

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.

9

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 - £718). The foregoing amounts, which include the amounts below undertaken on behalf of other group companies, relate to the contract hire of plant and vehicles over the remaining period of the contracts and capital commitments entered into in respect of the purchase of vehicles.

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

10

Related party transactions

Loans to related parties

2023

Entities with joint control or significant influence
£

Total
£

At start of period

597,559

597,559

Advanced

3,161

3,161

At end of period

600,720

600,720

2022

Entities with joint control or significant influence
£

Total
£

Advanced

597,559

597,559

At end of period

597,559

597,559

Terms of loans to related parties

The inter-company account with Acclaim Group Holdings Limited, the ultimate holding company, was unsecured, interest free and repayable upon demand.
 

 

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

451,692

451,692

Advanced

1,191,515

1,191,515

Repaid

(1,275,338)

(1,275,338)

At end of period

367,869

367,869

2022

Parent
£

Entities with joint control or significant influence
£

Total
£

At start of period

5,788

199,999

205,787

Advanced

-

2,113,428

2,113,428

Repaid

(5,788)

(1,861,735)

(1,867,523)

At end of period

-

451,692

451,692

Terms of loans from related parties

The inter-company account with the parent company was unsecured, interest free and repayable upon demand.
 The inter-company account with Acclaim Logistics Limited, a fellow subsidiary, was unsecured, interest free and repayable upon demand.
 

11

Parent and ultimate parent undertaking

The company's immediate parent is Acclaim Holdings Limited, incorporated in England and Wales.

 The ultimate parent is Acclaim Group Holdings Limited, incorporated in England and Wales.