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
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
LS Express Limited
Statement of financial position
as at 31 March 2024
Tangible assets
246,327
256,603
Cash at bank and in hand
245,047
794,097
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
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
LS Express Limited
Notes to the Accounts
for the year ended 31 March 2024
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.
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 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 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.
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.
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.
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
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
At 31 March 2024
222,613
2,228
21,486
246,327
At 31 March 2023
228,355
2,971
25,277
256,603
Amounts falling due within one year
Trade debtors
231,770
282,165
Accrued income and prepayments
1,663
2,593
Other debtors
497,311
167,339
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
7
Creditors: amounts falling due after more than one year
2024
2023
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
LS Express Limited
Notes to the Accounts
for the year ended 31 March 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Short term loan repayable upon demand
22,885
88,137
85,560
25,462
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.
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).