Company registration number 14789998 (England and Wales)
EXPRESS REMOTE SENSING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
EXPRESS REMOTE SENSING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
EXPRESS REMOTE SENSING LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
Notes
£
£
Fixed assets
Tangible assets
3
4,690
Current assets
Debtors
4
9,215
Cash at bank and in hand
13,291
22,506
Creditors: amounts falling due within one year
5
(13,759)
Net current assets
8,747
Net assets
13,437
Capital and reserves
Called up share capital
200
Profit and loss reserves
13,237
Total equity
13,437

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 15 February 2024 and are signed on its behalf by:
Mr J R Leahy
Director
Company registration number 14789998 (England and Wales)
EXPRESS REMOTE SENSING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

eXPress Remote Sensing Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2-4 Packhorse Road, Gerrards Cross, Buckinghamshire, SL9 7QE.

1.1
Reporting period

The accounts have been prepared for a 9 month period from the incorporation date up to 31 December 2023.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% reducing balance
Computers
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

EXPRESS REMOTE SENSING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
Number
Total
3
3
Tangible fixed assets
Plant and equipment
Computers
Total
£
£
£
Cost
At 10 April 2023
-
0
-
0
-
0
Additions
422
5,832
6,254
At 31 December 2023
422
5,832
6,254
Depreciation and impairment
At 10 April 2023
-
0
-
0
-
0
Depreciation charged in the period
106
1,458
1,564
At 31 December 2023
106
1,458
1,564
Carrying amount
At 31 December 2023
316
4,374
4,690
EXPRESS REMOTE SENSING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 4 -
4
Debtors
2023
Amounts falling due within one year:
£
Other debtors
9,215
5
Creditors: amounts falling due within one year
2023
£
Trade creditors
7,464
Corporation tax
3,389
Other creditors
2,906
13,759
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