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REGISTERED NUMBER: 02386963 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

EXPRESS BONDING SERVICES LIMITED

EXPRESS BONDING SERVICES LIMITED (REGISTERED NUMBER: 02386963)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


EXPRESS BONDING SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr D S Gill
Mrs B K Gill





REGISTERED OFFICE: Severn House
Western Road
Oldbury
West Midlands
B69 4LY





REGISTERED NUMBER: 02386963 (England and Wales)





ACCOUNTANTS: Crombies Accountants Limited
Chartered Accountants
34 Waterloo Road
Wolverhampton
West Midlands
WV1 4DG

EXPRESS BONDING SERVICES LIMITED (REGISTERED NUMBER: 02386963)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 283,643 192,442

CURRENT ASSETS
Stocks 35,280 49,927
Debtors 5 464,789 360,058
Cash at bank and in hand 815,712 1,075,796
1,315,781 1,485,781
CREDITORS
Amounts falling due within one year 6 185,422 263,578
NET CURRENT ASSETS 1,130,359 1,222,203
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,414,002

1,414,645

CREDITORS
Amounts falling due after more than one
year

7

(117,000

)

(169,000

)

PROVISIONS FOR LIABILITIES (52,306 ) (42,756 )
NET ASSETS 1,244,696 1,202,889

CAPITAL AND RESERVES
Called up share capital 12 12
Capital redemption reserve 51 51
Retained earnings 1,244,633 1,202,826
SHAREHOLDERS' FUNDS 1,244,696 1,202,889

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

EXPRESS BONDING SERVICES LIMITED (REGISTERED NUMBER: 02386963)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2024 and were signed on its behalf by:





Mr D S Gill - Director


EXPRESS BONDING SERVICES LIMITED (REGISTERED NUMBER: 02386963)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Express Bonding Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 23 (2022 - 19 ) .

EXPRESS BONDING SERVICES LIMITED (REGISTERED NUMBER: 02386963)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 657,794 96,851 9,757 764,402
Additions 92,000 64,000 - 156,000
Disposals (1,001 ) (29,700 ) - (30,701 )
At 31 December 2023 748,793 131,151 9,757 889,701
DEPRECIATION
At 1 January 2023 503,259 61,608 7,093 571,960
Charge for year 47,455 16,069 977 64,501
Eliminated on disposal (1,001 ) (29,402 ) - (30,403 )
At 31 December 2023 549,713 48,275 8,070 606,058
NET BOOK VALUE
At 31 December 2023 199,080 82,876 1,687 283,643
At 31 December 2022 154,535 35,243 2,664 192,442

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 148,520 221,486
Other debtors 304,658 109,791
Prepayments and accrued income 11,611 28,781
464,789 360,058

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 52,000 52,000
Trade creditors 61,817 115,860
Tax - 18,056
Social security and other taxes 64,308 69,512
Accrued expenses 7,297 8,150
185,422 263,578

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other loans - 2-5 years 117,000 169,000

8. RELATED PARTY DISCLOSURES

During the year the company traded with S & B Services Limited, a company in which BK Gill is materially interested as shareholder. The company paid £187,900 (2022 - £147,000) in respect of rent and insurance to S & B Services Limited.

EXPRESS BONDING SERVICES LIMITED (REGISTERED NUMBER: 02386963)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.