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Registered number: 08416065
Your Picking Solutions Limited
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 08416065
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 29,917 40,121
29,917 40,121
CURRENT ASSETS
Debtors 5 108,498 97,250
Cash at bank and in hand 13,179 48,921
121,677 146,171
Creditors: Amounts Falling Due Within One Year 6 (56,749 ) (52,801 )
NET CURRENT ASSETS (LIABILITIES) 64,928 93,370
TOTAL ASSETS LESS CURRENT LIABILITIES 94,845 133,491
Creditors: Amounts Falling Due After More Than One Year 7 (9,233 ) (16,480 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (5,567 ) (7,391 )
NET ASSETS 80,045 109,620
CAPITAL AND RESERVES
Called up share capital 10 110 110
Profit and Loss Account 79,935 109,510
SHAREHOLDERS' FUNDS 80,045 109,620
Page 1
Page 2
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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Kevin Merrick
Director
9 August 2024
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 April 2022 110 126,457 126,567
Profit for the year and total comprehensive income - 32,053 32,053
Dividends paid - (49,000) (49,000)
As at 31 March 2023 and 1 April 2023 110 109,510 109,620
Profit for the year and total comprehensive income - 19,425 19,425
Dividends paid - (49,000) (49,000)
As at 31 March 2024 110 79,935 80,045
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Your Picking Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08416065 . The registered office is Pier House, Thames Road, Crayford, Kent, DA1 4SL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents revenue recognised by the company in respect of storage, picking and delivery services supplied during the year, exclusive of Value Added Tax and trade discounts. The policy for recognising income is based on the period the storage covers, and when the picking and delivery was carried out.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% Straight Line
Plant & Machinery 15% Reducing Balance / 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 33% Straight Line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
Sales, marketing and distribution 4 4
5 5
Page 4
Page 5
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 6,051 36,123 41,494 8,480 92,148
As at 31 March 2024 6,051 36,123 41,494 8,480 92,148
Depreciation
As at 1 April 2023 4,833 27,439 11,856 7,899 52,027
Provided during the period 606 1,902 7,408 288 10,204
As at 31 March 2024 5,439 29,341 19,264 8,187 62,231
Net Book Value
As at 31 March 2024 612 6,782 22,230 293 29,917
As at 1 April 2023 1,218 8,684 29,638 581 40,121
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles - 5,644
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 68,892 60,335
Prepayments and accrued income 18,306 16,915
Other debtors 21,300 20,000
108,498 97,250
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 1,381
Trade creditors 24,003 23,457
Bank loans and overdrafts 7,247 7,068
Corporation tax 6,535 7,134
Other taxes and social security 11,074 10,506
Other creditors 1,036 -
Accruals and deferred income 3,411 2,812
Directors' loan accounts 3,443 443
56,749 52,801
Page 5
Page 6
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 9,233 16,480
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 1,381
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 5,567 7,391
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
51 Ordinary A shares of £ 1.00 each 51 51
49 Ordinary B shares of £ 1.00 each 49 49
10 Ordinary C shares of £ 1.00 each 10 10
110 110
11. Other Commitments
At the end of the period the company had minimum lease payments under non-cancellable leases as follows:
2024 2023
£ £
Not later than one year 94,992 94,992
Later than one year and not later than five years 71,244 166,236
166,236 261,228
Page 6