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REGISTERED NUMBER: 02972380 (England and Wales)















Unaudited Financial Statements

for the Year Ended

30 November 2023

for

Mail Box Express Limited

Mail Box Express Limited (Registered number: 02972380)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mail Box Express Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: J D Shaw
Mrs S Shaw





REGISTERED OFFICE: Unit 9
Bridge Court
Leeds
West Yorkshire
LS11 9TU





REGISTERED NUMBER: 02972380 (England and Wales)





ACCOUNTANTS: Equate Limited
Chartered Certified Accountants
The Hive
142 Thornes Lane
Wakefield
West Yorkshire
WF2 7RE

Mail Box Express Limited (Registered number: 02972380)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 16,721 20,196
Tangible assets 5 174,618 276,878
191,339 297,074

CURRENT ASSETS
Debtors 6 250,141 356,632
Cash at bank 3,137 2,745
253,278 359,377
CREDITORS
Amounts falling due within one year 7 275,850 375,796
NET CURRENT LIABILITIES (22,572 ) (16,419 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

168,767

280,655

CREDITORS
Amounts falling due after more than one
year

8

(90,443

)

(201,789

)

PROVISIONS FOR LIABILITIES (44,348 ) (45,927 )
NET ASSETS 33,976 32,939

CAPITAL AND RESERVES
Called up share capital 101,000 101,000
Retained earnings (67,024 ) (68,061 )
33,976 32,939

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Mail Box Express Limited (Registered number: 02972380)

Balance Sheet - continued
30 November 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 Board of Directors and authorised for issue on 8 August 2024 and were signed on its behalf by:





J D Shaw - Director


Mail Box Express Limited (Registered number: 02972380)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Mail Box Express 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Computer software is being amortised evenly over its estimated useful life of ten years.

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.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties.

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 balance sheet date.


Mail Box Express Limited (Registered number: 02972380)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 31 (2022 - 28 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 December 2022
and 30 November 2023 69,500 37,075 106,575
AMORTISATION
At 1 December 2022 49,304 37,075 86,379
Charge for year 3,475 - 3,475
At 30 November 2023 52,779 37,075 89,854
NET BOOK VALUE
At 30 November 2023 16,721 - 16,721
At 30 November 2022 20,196 - 20,196

Mail Box Express Limited (Registered number: 02972380)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2022 7,133 69,357 476,372 88,750 641,612
Additions - - 1,663 1,167 2,830
Disposals - - (118,086 ) - (118,086 )
At 30 November 2023 7,133 69,357 359,949 89,917 526,356
DEPRECIATION
At 1 December 2022 7,133 60,118 219,182 78,301 364,734
Charge for year - 1,386 64,713 2,323 68,422
Eliminated on disposal - - (81,418 ) - (81,418 )
At 30 November 2023 7,133 61,504 202,477 80,624 351,738
NET BOOK VALUE
At 30 November 2023 - 7,853 157,472 9,293 174,618
At 30 November 2022 - 9,239 257,190 10,449 276,878

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022 5,015 470,697 32,290 508,002
Disposals - (118,086 ) - (118,086 )
At 30 November 2023 5,015 352,611 32,290 389,916
DEPRECIATION
At 1 December 2022 5,015 213,336 30,943 249,294
Charge for year - 63,684 269 63,953
Eliminated on disposal - (81,418 ) - (81,418 )
At 30 November 2023 5,015 195,602 31,212 231,829
NET BOOK VALUE
At 30 November 2023 - 157,009 1,078 158,087
At 30 November 2022 - 257,361 1,347 258,708

Mail Box Express Limited (Registered number: 02972380)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 195,038 184,736
Other debtors 4,075 4,075
Directors' current accounts 7,413 68,566
Tax 22,201 64,235
Prepayments and accrued income 21,414 35,020
250,141 356,632

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 39,530 14,703
Other loans 24,215 34,353
Hire purchase contracts (see note 9) 61,235 110,218
Trade creditors 63,705 70,226
Tax 35,979 -
Social security and other taxes 20,233 22,193
VAT 22,628 20,569
Other creditors 2,889 4,209
Accruals and deferred income 5,436 99,325
275,850 375,796

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Other loans - 1-2 years 22,035 22,316
Other loans - 2-5 years 16,922 39,303
Hire purchase contracts (see note 9) 51,486 140,170
90,443 201,789

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.11.23 30.11.22
£    £   
Net obligations repayable:
Within one year 61,235 110,218
Between one and five years 51,486 140,170
112,721 250,388

Mail Box Express Limited (Registered number: 02972380)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
30.11.23 30.11.22
£    £   
Within one year 30,530 41,734
Between one and five years 4,554 35,084
35,084 76,818

10. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Hire purchase contracts 112,721 250,388
Loans 102,702 95,972
215,423 346,360

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company rents a vehicle repair unit from the director at an annual cost of £4,000 (2022: £4,000)

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J D Shaw.

13. GONG CONCERN

The company is continuing to improve it's trading performance and financial position. The accounts have been prepared on the going concern basis given this and the fact the directors are willing to support the company as required.