Company Registration No. 08864693 (England and Wales)
NORTH EAST PARCEL SERVICES LIMITED
Unaudited accounts
for the year ended 31 March 2022
NORTH EAST PARCEL SERVICES LIMITED
Unaudited accounts
Contents
NORTH EAST PARCEL SERVICES LIMITED
Company Information
for the year ended 31 March 2022
Company Number
08864693 (England and Wales)
Registered Office
8 Octavian Way
Team Valley Trading Estate
Gateshead
NE11 0HZ
Accountants
MALLON:TAX
PO Box 238
Houghton le Spring
Co Durham
DH4 9ES
NORTH EAST PARCEL SERVICES LIMITED
Statement of financial position
as at 31 March 2022
Tangible assets
632,811
416,817
Cash at bank and in hand
47,017
200,801
Creditors: amounts falling due within one year
(742,210)
(407,270)
Net current liabilities
(514,903)
(34,943)
Total assets less current liabilities
117,908
381,874
Creditors: amounts falling due after more than one year
(47,571)
(102,310)
Called up share capital
2
2
Profit and loss account
70,335
279,562
Shareholders' funds
70,337
279,564
For the year ending 31 March 2022 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 director acknowledges his 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 and authorised for issue on 6 November 2023 and were signed on its behalf by
DM Gray
Director
Company Registration No. 08864693
NORTH EAST PARCEL SERVICES LIMITED
Notes to the Accounts
for the year ended 31 March 2022
NORTH EAST PARCEL SERVICES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08864693. The registered office is 8 Octavian Way, Team Valley Trading Estate, Gateshead, NE11 0HZ.
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 have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 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.
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:
Plant & machinery
25% Straight line
Motor vehicles
20% reducing balance
Fixtures & fittings
25% Straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
NORTH EAST PARCEL SERVICES LIMITED
Notes to the Accounts
for the year ended 31 March 2022
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2021
22,448
658,273
5,056
685,777
Additions
25,771
313,470
45,977
385,218
Disposals
-
(34,990)
-
(34,990)
At 31 March 2022
48,219
936,753
51,033
1,036,005
At 1 April 2021
15,634
251,418
1,908
268,960
Charge for the year
5,170
139,871
1,264
146,305
On disposals
-
(12,071)
-
(12,071)
At 31 March 2022
20,804
379,218
3,172
403,194
At 31 March 2022
27,415
557,535
47,861
632,811
At 31 March 2021
6,814
406,855
3,148
416,817
Amounts falling due within one year
Trade debtors
61,195
96,206
Other debtors
119,095
75,320
6
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
10,000
-
Obligations under finance leases and hire purchase contracts
34,108
56,418
Trade creditors
452,779
291,155
Taxes and social security
8,620
5,795
Other creditors
252,334
35,828
7
Creditors: amounts falling due after more than one year
2022
2021
Obligations under finance leases and hire purchase contracts
15,904
52,310
The advance of £13,573 made during then year ended 31 March 2020 was fully repaid during the year
NORTH EAST PARCEL SERVICES LIMITED
Notes to the Accounts
for the year ended 31 March 2022
9
Average number of employees
During the year the average number of employees was 10 (2021: 10).