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Company Registration No. 10049343 (England and Wales)
Quickline Couriers Limited Unaudited accounts for the year ended 31 March 2024
Quickline Couriers Limited Unaudited accounts Contents
Page
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Quickline Couriers Limited Company Information for the year ended 31 March 2024
Directors
Stephen Doran Andrew Martin
Company Number
10049343 (England and Wales)
Registered Office
Business First - Block A 25 Goodlass Road Liverpool L24 9HJ
Accountants
Adams O'Rourke Accountants Ltd 436 Woolton Road Liverpool L25 6JQ
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Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Quickline Couriers Limited for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Quickline Couriers Limited for the year ended 31 March 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
This report is made solely to the Board of Directors of Quickline Couriers Limited, as a body, in accordance with the terms of our engagement letter dated 18 March 2024. Our work has been undertaken solely to prepare for your approval the accounts of Quickline Couriers Limited and state those matters that we have agreed to state to the Board of Directors of Quickline Couriers Limited, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Quickline Couriers Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Quickline Couriers Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Quickline Couriers Limited. You consider that Quickline Couriers Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Quickline Couriers Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Adams O'Rourke Accountants Ltd Member in Practice 436 Woolton Road Liverpool L25 6JQ 18 April 2024
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Quickline Couriers Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
157,117 
160,055 
Tangible assets
63,673 
83,804 
220,790 
243,859 
Current assets
Debtors
374,517 
277,892 
Cash at bank and in hand
389,662 
41,705 
764,179 
319,597 
Creditors: amounts falling due within one year
(813,024)
(324,226)
Net current liabilities
(48,845)
(4,629)
Total assets less current liabilities
171,945 
239,230 
Creditors: amounts falling due after more than one year
(65,478)
(120,896)
Provisions for liabilities
Deferred tax
(12,098)
(15,923)
Net assets
94,369 
102,411 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
94,269 
102,311 
Shareholders' funds
94,369 
102,411 
For the year ending 31 March 2024 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 18 April 2024 and were signed on its behalf by
Stephen Doran Director Company Registration No. 10049343
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Quickline Couriers Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Quickline Couriers Limited is a private company, limited by shares, registered in England and Wales, registration number 10049343. The registered office is Business First - Block A, 25 Goodlass Road, Liverpool, L24 9HJ.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably. Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: Website - 3 years Other assets - 10 years If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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Quickline Couriers Limited Notes to the Accounts for the year ended 31 March 2024
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. An decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity n respect of that asset, the excess shall be recognised in profit or loss. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: Equipment - 25% reducing balance Fixtures & Fittings - 25% reducing balance Motor vehicles - 25% reducing balance
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 April 2023
164,979 
Additions
11,500 
At 31 March 2024
176,479 
Amortisation
At 1 April 2023
4,924 
Charge for the year
14,438 
At 31 March 2024
19,362 
Net book value
At 31 March 2024
157,117 
At 31 March 2023
160,055 
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Quickline Couriers Limited Notes to the Accounts for the year ended 31 March 2024
5
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2023
56,800 
3,265 
57,244 
117,309 
Additions
- 
1,010 
- 
1,010 
At 31 March 2024
56,800 
4,275 
57,244 
118,319 
Depreciation
At 1 April 2023
4,733 
219 
28,553 
33,505 
Charge for the year
13,017 
951 
7,173 
21,141 
At 31 March 2024
17,750 
1,170 
35,726 
54,646 
Net book value
At 31 March 2024
39,050 
3,105 
21,518 
63,673 
At 31 March 2023
52,067 
3,046 
28,691 
83,804 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
274,237 
131,384 
Amounts due from group undertakings etc.
82,382 
130,835 
Accrued income and prepayments
7,237 
12,473 
Other debtors
10,661 
3,200 
374,517 
277,892 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
39,500 
39,500 
VAT
128,518 
58,076 
Obligations under finance leases and hire purchase contracts
15,918 
15,918 
Trade creditors
421,216 
93,442 
Taxes and social security
14,596 
29,060 
Other creditors
193,276 
85,585 
Accruals
- 
2,645 
813,024 
324,226 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
35,083 
74,583 
Obligations under finance leases and hire purchase contracts
30,395 
46,313 
65,478 
120,896 
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Quickline Couriers Limited Notes to the Accounts for the year ended 31 March 2024
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Pension commitments
The amount recognised in the profit or loss as an expense in relation to defined contribution plans was , the pension contributions amount to £3,068 (2023: £3,833). At the year end date pension contributions amounting to £1.612 (2023: £3,195) are outstanding to be paid and included within creditors.
11
Loans to directors
Loans provided to the directors are interest free and repayable on demand. An amount of £5,225 remains outstanding as at 31.03.2024.
12
Transactions with related parties
A related party is a person or an entity that is related to the reporting entity. An entity is related to a reporting entity if the entity and the reporting entity are members of the same group. Quickline Couriers Liverpool Limited owes £67,938, Quickline Couriers Manchester Limited owes £19,884 and Quickline Group Holdings Limited is owed £441 by Quickline Couriers Limited.
13
Controlling party
The ultimate controlling party is Quickline Group Holding Limited, a company registered in England and Wales (company number 12472173). The registered office of Quickline Group Holding Limited is Business First - Block A, 25 Goodlass Road, Liverpool, L24 9HJ.
14
Average number of employees
During the year the average number of employees was 18 (2023: 24).
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