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REGISTERED NUMBER: 11473923 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 July 2023

for

Cole Couriers Ltd

Cole Couriers Ltd (Registered number: 11473923)

Contents of the Financial Statements
for the Year Ended 31 July 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Cole Couriers Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTORS: Mrs H C Cole
Mr A E Cole





REGISTERED OFFICE: 69 High Street
Bideford
Devon
EX39 2AT





REGISTERED NUMBER: 11473923 (England and Wales)





ACCOUNTANTS: R T Marke & Co Ltd
Chartered Accountants
69 High Street
Bideford
Devon
EX39 2AT

Cole Couriers Ltd (Registered number: 11473923)

Abridged Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 37,196 39,430

CURRENT ASSETS
Debtors 85,115 34,789
Cash at bank 1,456 16,044
86,571 50,833
CREDITORS
Amounts falling due within one year 82,973 36,253
NET CURRENT ASSETS 3,598 14,580
TOTAL ASSETS LESS CURRENT
LIABILITIES

40,794

54,010

CREDITORS
Amounts falling due after more than one
year

(29,603

)

(45,265

)

PROVISIONS FOR LIABILITIES (9,857 ) (7,492 )
NET ASSETS 1,334 1,253

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 1,332 1,251
SHAREHOLDERS' FUNDS 1,334 1,253

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Cole Couriers Ltd (Registered number: 11473923)

Abridged Balance Sheet - continued
31 July 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 February 2024 and were signed on its behalf by:




Mr A E Cole - Director



Mrs H C Cole - Director


Cole Couriers Ltd (Registered number: 11473923)

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


1. STATUTORY INFORMATION

Cole Couriers Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted in the preparation of the financial statements are set out below and remain unchanged from the previous period, and also have been consistently applied within the same accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 20% straight line
Computer equipment - 33% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Government grants
Government grants in respect of capital expenditure are treated as deferred income and are credited to the profit and loss account over the estimated useful life of the assets to which they relate.

Government grants in respect of revenue items are credited to the profit and loss account when they are receivable.

Financial instruments
Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs.


Cole Couriers Ltd (Registered number: 11473923)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
Having regard to the company's anticipated future revenues and costs including repayment of debt where appropriate, together with the expected availability of working capital, the directors consider that it is appropriate to prepare the financial statements on the going concern basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Cole Couriers Ltd (Registered number: 11473923)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023


5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2022 51,301
Additions 9,900
At 31 July 2023 61,201
DEPRECIATION
At 1 August 2022 11,871
Charge for year 12,134
At 31 July 2023 24,005
NET BOOK VALUE
At 31 July 2023 37,196
At 31 July 2022 39,430


6. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 4,099 4,099
Between one and five years 7,857 11,956
11,956 16,055

Non-cancellable operating leases
2023 2022
£    £   
Within one year 24,600 25,360
Between one and five years 98,400 98,400
In more than five years 4,100 28,700
127,100 152,460

Cole Couriers Ltd (Registered number: 11473923)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023


7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 11,956 16,055

The hire purchase contracts are secured over the assets to which they relate.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
£    £   
Mr A E Cole and Mrs H C Cole
Balance outstanding at start of year 5,925 23,232
Amounts advanced 61,688 1,408
Amounts repaid (32,979 ) (18,715 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 34,634 5,925

The maximum overdrawn balance during the year was £36,211.

Interest was charged on the loans at the official interest rate.