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
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
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
Quickline Couriers Limited
Statement of financial position
as at 31 March 2024
Intangible assets
157,117
160,055
Tangible assets
63,673
83,804
Cash at bank and in hand
389,662
41,705
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)
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
Quickline Couriers Limited
Notes to the Accounts
for the year ended 31 March 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 (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.
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
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 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.
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
Charge for the year
14,438
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
At 31 March 2024
56,800
4,275
57,244
118,319
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
At 31 March 2024
39,050
3,105
21,518
63,673
At 31 March 2023
52,067
3,046
28,691
83,804
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
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
39,500
39,500
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
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Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
30,395
46,313
Quickline Couriers Limited
Notes to the Accounts
for the year ended 31 March 2024
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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.
Loans provided to the directors are interest free and repayable on demand. An amount of £5,225 remains outstanding as at 31.03.2024.
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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.
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.
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Average number of employees
During the year the average number of employees was 18 (2023: 24).