Company Registration No. NI629373 (Northern Ireland)
PB Couriers Limited
Unaudited accounts
for the year ended 28 February 2023
PB Couriers Limited
Unaudited accounts
Contents
PB Couriers Limited
Company Information
for the year ended 28 February 2023
Directors
Paul Boyd
Sinead Boyd
Company Number
NI629373 (Northern Ireland)
Registered Office
6a Old Station Road
Holywood
BT18 0BX
Accountants
Gray + Press Accountants Limited
Unit 4A Channel Wharf
21 Old Channel Road
Belfast
BT3 9DE
PB Couriers Limited
Statement of financial position
as at 28 February 2023
Tangible assets
167,498
84,928
Cash at bank and in hand
39
39
Creditors: amounts falling due within one year
(414,986)
(420,909)
Net current (liabilities)/assets
(18,353)
8,415
Total assets less current liabilities
149,145
93,343
Creditors: amounts falling due after more than one year
(88,948)
(77,606)
Called up share capital
100
100
Profit and loss account
60,097
15,637
Shareholders' funds
60,197
15,737
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2023 and were signed on its behalf by
Paul Boyd
Director
Company Registration No. NI629373
PB Couriers Limited
Notes to the Accounts
for the year ended 28 February 2023
PB Couriers Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI629373. The registered office is 6a Old Station Road, Holywood, BT18 0BX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Reducing Balance
Fixtures & fittings
25% Reducing Balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
PB Couriers Limited
Notes to the Accounts
for the year ended 28 February 2023
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 March 2022
177,366
6,845
184,211
Additions
110,000
1,579
111,579
At 28 February 2023
287,366
8,424
295,790
At 1 March 2022
94,491
4,792
99,283
Charge for the year
28,479
530
29,009
At 28 February 2023
122,970
5,322
128,292
At 28 February 2023
164,396
3,102
167,498
At 28 February 2022
82,875
2,053
84,928
Amounts falling due within one year
Other debtors
396,594
429,285
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
31,743
43,472
Obligations under finance leases and hire purchase contracts
36,772
9,660
Trade creditors
18,216
22,125
Taxes and social security
56,914
75,130
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
63,758
38,640
8
Average number of employees
During the year the average number of employees was 23 (2022: 24).