Registered number
03745890
Parcelworld (UK) Ltd
Filleted Accounts
30 April 2023
Parcelworld (UK) Ltd
Registered number: 03745890
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 58,603 35,080
Current assets
Stocks 20,000 20,000
Debtors 4 1,670 1,266
Cash at bank and in hand 18,547 14,477
40,217 35,743
Creditors: amounts falling due within one year 5 (157,280) (142,350)
Net current liabilities (117,063) (106,607)
Net liabilities (58,460) (71,527)
Capital and reserves
Called up share capital 100 100
Profit and loss account (58,560) (71,627)
Shareholder's funds (58,460) (71,527)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T Williams
Director
Approved by the board on 2 April 2024
Parcelworld (UK) Ltd
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings N/A
Motor vehicle 25% reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 2
3 Tangible fixed assets
Land and buildings Motor vehicles Total
£ £ £
Cost
At 1 May 2022 34,732 15,850 50,582
Additions - 31,480 31,480
At 30 April 2023 34,732 47,330 82,062
Depreciation
At 1 May 2022 - 15,502 15,502
Charge for the year - 7,957 7,957
At 30 April 2023 - 23,459 23,459
Net book value
At 30 April 2023 34,732 23,871 58,603
At 30 April 2022 34,732 348 35,080
4 Debtors 2023 2022
£ £
Other debtors 1,670 1,266
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 2,679 2,222
Director's loan account 152,945 138,472
Other creditors 1,656 1,656
157,280 142,350
6 Other information
Parcelworld (UK) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
233 Royal College Street
London
NW1 9LT
Parcelworld (UK) Ltd 03745890 false 2022-05-01 2023-04-30 2023-04-30 VT Final Accounts October 2023 release 2 T Williams No description of principal activity 03745890 2021-05-01 2022-04-30 03745890 core:WithinOneYear 2022-04-30 03745890 core:ShareCapital 2022-04-30 03745890 core:RetainedEarningsAccumulatedLosses 2022-04-30 03745890 2022-05-01 2023-04-30 03745890 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 03745890 bus:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 03745890 bus:Director40 2022-05-01 2023-04-30 03745890 1 2022-05-01 2023-04-30 03745890 2 2022-05-01 2023-04-30 03745890 core:LandBuildings 2022-05-01 2023-04-30 03745890 core:Vehicles 2022-05-01 2023-04-30 03745890 countries:England 2022-05-01 2023-04-30 03745890 bus:FRS102 2022-05-01 2023-04-30 03745890 bus:FullAccounts 2022-05-01 2023-04-30 03745890 2023-04-30 03745890 core:WithinOneYear 2023-04-30 03745890 core:ShareCapital 2023-04-30 03745890 core:RetainedEarningsAccumulatedLosses 2023-04-30 03745890 core:LandBuildings 2023-04-30 03745890 core:Vehicles 2023-04-30 03745890 2022-04-30 03745890 core:LandBuildings 2022-04-30 03745890 core:Vehicles 2022-04-30 iso4217:GBP xbrli:pure