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REGISTERED NUMBER: 04868054 (England and Wales)

















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

UNITED BUSINESS XPRESS LIMITED

UNITED BUSINESS XPRESS LIMITED (REGISTERED NUMBER: 04868054)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


UNITED BUSINESS XPRESS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: R Soni



SECRETARY: Mrs. N Soni



REGISTERED OFFICE: 505 Pinner Road
Harrow
Middlesex
HA2 6EH



REGISTERED NUMBER: 04868054 (England and Wales)



ACCOUNTANTS: STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH



BANKERS: Nat West Bank Plc
315 Station Road
Harrow
Middlesex
HA1 2AD

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
UNITED BUSINESS XPRESS LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of United Business Xpress Limited for the year ended 31 March 2023 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of United Business Xpress Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of United Business Xpress Limited and state those matters that we have agreed to state to the director of United Business Xpress Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than United Business Xpress Limited and its director for our work or for this report.

It is your duty to ensure that United Business Xpress Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of United Business Xpress Limited. You consider that United Business Xpress 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 financial statements of United Business Xpress 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 financial statements.






STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH


22 December 2023

UNITED BUSINESS XPRESS LIMITED (REGISTERED NUMBER: 04868054)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 39,898 30,582

CURRENT ASSETS
Debtors 5 529,549 311,776
Cash at bank and in hand 2,554 9,754
532,103 321,530
CREDITORS
Amounts falling due within one year 6 296,884 115,739
NET CURRENT ASSETS 235,219 205,791
TOTAL ASSETS LESS CURRENT
LIABILITIES

275,117

236,373

CREDITORS
Amounts falling due after more than one year 7 (27,162 ) (33,206 )

PROVISIONS FOR LIABILITIES (6,456 ) (4,081 )
NET ASSETS 241,499 199,086

CAPITAL AND RESERVES
Called up share capital 8 200 200
Share premium 9 64,900 64,900
Retained earnings 9 176,399 133,986
SHAREHOLDERS' FUNDS 241,499 199,086

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

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

The director acknowledges his 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.

UNITED BUSINESS XPRESS LIMITED (REGISTERED NUMBER: 04868054)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2023


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

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

The financial statements were approved by the director and authorised for issue on 22 December 2023 and were signed by:





R Soni - Director


UNITED BUSINESS XPRESS LIMITED (REGISTERED NUMBER: 04868054)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

United Business Xpress Limited 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.

2. ACCOUNTING POLICIES

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

Turnover
Turnover represents net invoiced sales of services, excluding value added tax. Revenue from the courier services is recognised at the time of the service is rendered.

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.
Improvements to property - 10% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 30% on reducing balance
Computer equipment - 33% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

UNITED BUSINESS XPRESS LIMITED (REGISTERED NUMBER: 04868054)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 21 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 37,203 24,393 96,284 20,159 178,039
Additions - 3,734 17,290 - 21,024
Disposals - - (10,038 ) - (10,038 )
At 31 March 2023 37,203 28,127 103,536 20,159 189,025
DEPRECIATION
At 1 April 2022 29,463 18,107 80,977 18,910 147,457
Charge for year 3,720 1,503 6,427 412 12,062
Eliminated on disposal - - (10,392 ) - (10,392 )
At 31 March 2023 33,183 19,610 77,012 19,322 149,127
NET BOOK VALUE
At 31 March 2023 4,020 8,517 26,524 837 39,898
At 31 March 2022 7,740 6,286 15,307 1,249 30,582

UNITED BUSINESS XPRESS LIMITED (REGISTERED NUMBER: 04868054)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 53,908
Additions 17,290
Disposals (10,038 )
At 31 March 2023 61,160
DEPRECIATION
At 1 April 2022 48,487
Charge for year 3,461
Eliminated on disposal (10,392 )
At 31 March 2023 41,556
NET BOOK VALUE
At 31 March 2023 19,604
At 31 March 2022 5,421

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 398,200 203,248
Amounts owed by connected companies 39,850 65,850
Other debtors 3,686 3,989
VAT 60,206 12,999
Prepayments 27,607 25,690
529,549 311,776

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,931 9,685
Hire purchase contracts 2,569 562
Trade creditors 198,504 56,598
Tax 17,866 16,039
Social security and other taxes 1,366 2,067
Other creditors 28 121
Directors' current accounts 63,752 28,167
Accrued expenses 2,868 2,500
296,884 115,739

UNITED BUSINESS XPRESS LIMITED (REGISTERED NUMBER: 04868054)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,183 9,932
Bank loans - 2-5 years 13,091 23,274
Hire purchase contracts 3,888 -
27,162 33,206

Bank loan includes unsecured loan of £50,000 under the Bounce Back Loan Scheme. The bank loan is repayable over six years and is due for repayment by June 2026. The bank loan interest for the first twelve months is covered by the government through a Business Interruption Payment and thereafter the company will be charged interest. The bank loan interest is at a fixed rate of 2.50% per annum.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100
100 Ordinary Class B £1 100 100
200 200

9. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 April 2022 133,986 64,900 198,886
Profit for the year 80,653 80,653
Dividends (38,240 ) (38,240 )
At 31 March 2023 176,399 64,900 241,299

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the company paid dividends of £19,120 (2022: £34,350) to the director.

11. RELATED PARTY

During the year the company was charged rent of £30,000 (2022: £30,000) by United Business Express Limited, a company in which the director has a beneficial interest.

At the year end the company was owed £39,850 (2022: £65,850) by United Business Express Limited.

UNITED BUSINESS XPRESS LIMITED (REGISTERED NUMBER: 04868054)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


12. ULTIMATE CONTROLLING PARTY

The director and his wife are the ultimate controlling part by virtue of their shareholding.