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Company Registration No. 03720763 (England and Wales)
LS Express Limited Unaudited accounts for the year ended 31 March 2024
LS Express Limited Unaudited accounts Contents
Page
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LS Express Limited Company Information for the year ended 31 March 2024
Directors
Mr S M Dean Mrs J A Dean
Company Number
03720763 (England and Wales)
Registered Office
Primary House Spring Gardens Macclesfield Cheshire SK10 2DX
Accountants
Taylor Consultancy, Chartered Certified Accountants Primary House Spring Gardens Macclesfield Cheshire SK10 2DX
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LS Express Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
246,327 
256,603 
Current assets
Debtors
736,856 
462,355 
Cash at bank and in hand
245,047 
794,097 
981,903 
1,256,452 
Creditors: amounts falling due within one year
(1,100,575)
(1,377,460)
Net current liabilities
(118,672)
(121,008)
Total assets less current liabilities
127,655 
135,595 
Creditors: amounts falling due after more than one year
(12,392)
(22,432)
Provisions for liabilities
Deferred tax
(5,927)
(5,366)
Net assets
109,336 
107,797 
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
108,336 
106,797 
Shareholders' funds
109,336 
107,797 
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 7 August 2024 and were signed on its behalf by
Mr S M Dean Director Company Registration No. 03720763
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LS Express Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
LS Express Limited is a private company, limited by shares, registered in England and Wales, registration number 03720763. The registered office is Primary House, Spring Gardens, Macclesfield, Cheshire, SK10 2DX.
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 represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% pa on a straight line basis
Plant & machinery
25% pa on a reducing balance basis
Fixtures & fittings
25% pa on a reducing balance basis
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 is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted.
Foreign currencies
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.
Pension costs
The company operates a defined contribution scheme for the beenefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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LS Express Limited Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2023
287,100 
37,693 
87,083 
411,876 
At 31 March 2024
287,100 
37,693 
87,083 
411,876 
Depreciation
At 1 April 2023
58,745 
34,722 
61,806 
155,273 
Charge for the year
5,742 
743 
3,791 
10,276 
At 31 March 2024
64,487 
35,465 
65,597 
165,549 
Net book value
At 31 March 2024
222,613 
2,228 
21,486 
246,327 
At 31 March 2023
228,355 
2,971 
25,277 
256,603 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
6,112 
10,258 
Trade debtors
231,770 
282,165 
Accrued income and prepayments
1,663 
2,593 
Other debtors
497,311 
167,339 
736,856 
462,355 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,107 
10,069 
Trade creditors
594,617 
582,975 
Amounts owed to group undertakings and other participating interests
364,655 
594,639 
Taxes and social security
21,730 
136,916 
Other creditors
99,616 
17,923 
Accruals
9,850 
34,938 
1,100,575 
1,377,460 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
12,392 
22,432 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000 
1,000 
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LS Express Limited Notes to the Accounts for the year ended 31 March 2024
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Mr S M Dean
Short term loan repayable upon demand
22,885 
88,137 
85,560 
25,462 
Mrs J A Dean
Short term loan repayable upon demand
22,885 
88,137 
85,560 
25,462 
45,770 
176,274 
171,120 
50,924 
The short term loans to both directors brought forward were repaid in full on 12th April 2023. Further short terms loans to both directors were taken in the year and the loans at 31st March 2024 were repaid in full on 15th April 2024.
10
Transactions with related parties
L S Express Group Limited is the ultimate holding company of L S Express Limited. During the year L S Express Limited declared a dividend of £41,000 ( 2023 £239,000) to L S Express Group Limited. At the balance sheet date L S Express Limited owed £362,441 ( 2023 £592,425) to L S Express Group Limited. The loan is repayable upon demand and subject to interest at a commercial rate. Solar International Freight Limited is an associated company to LS Express Limited. Solar International Freight Limited made a loan to LS Express Limited of which £2,214 ( 2023 £2,214 ) was still outstanding at the balance sheet date. The loan is repayable upon demand and subject to interest at a commercial rate.
11
Controlling party
The ultimate holding company is L S Express Group Limited, a company incorporated in England and Wales, Company Number 07547155. L S Express Group Limited owns 100% of the issued share capital in L S Express Limited.
12
Average number of employees
During the year the average number of employees was 9 (2023: 9).
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