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REGISTERED NUMBER: 02805258 (England and Wales)










Financial Statements

for the Year Ended 30 June 2024

for

G-Force Express Parcels Limited

G-Force Express Parcels Limited (Registered number: 02805258)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


G-Force Express Parcels Limited

Company Information
for the Year Ended 30 June 2024







Directors: Ms S Ravenscroft
Mr R Marshall
Mr K R Parton





Registered office: G Force House
Halesfield 2
Telford
Shropshire
TF7 4QH





Registered number: 02805258 (England and Wales)





Accountants: Hughes & Co.
The Stables
Broseley Hall
Church Street
Broseley
Shropshire
TF12 5DG

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
G-Force Express Parcels Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of G-Force Express Parcels Limited for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of G-Force Express Parcels Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of G-Force Express Parcels Limited and state those matters that we have agreed to state to the Board of Directors of G-Force Express Parcels Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that G-Force Express Parcels Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of G-Force Express Parcels Limited. You consider that G-Force Express Parcels Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of G-Force Express Parcels Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Hughes & Co.
The Stables
Broseley Hall
Church Street
Broseley
Shropshire
TF12 5DG


22 August 2024

G-Force Express Parcels Limited (Registered number: 02805258)

Balance Sheet
30 June 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 674,870 597,653
Investments 5 6,250 6,250
681,120 603,903

Current assets
Stocks 3,172 3,369
Debtors 6 921,200 864,815
Cash at bank and in hand 561,829 1,331,829
1,486,201 2,200,013
Creditors
Amounts falling due within one year 7 868,977 636,557
Net current assets 617,224 1,563,456
Total assets less current liabilities 1,298,344 2,167,359

Creditors
Amounts falling due after more than one
year

8

(125,000

)

(257,012

)

Provisions for liabilities (5,000 ) (5,000 )
Net assets 1,168,344 1,905,347

Capital and reserves
Called up share capital 12 5
Capital redemption reserve 9 - 5
Retained earnings 9 1,168,332 1,905,337
Shareholders' funds 1,168,344 1,905,347

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

G-Force Express Parcels Limited (Registered number: 02805258)

Balance Sheet - continued
30 June 2024


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 22 August 2024 and were signed on its behalf by:





Ms S Ravenscroft - Director


G-Force Express Parcels Limited (Registered number: 02805258)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

G-Force Express Parcels 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - at variable rates

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 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.

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.

Hire purchase and leasing commitments
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.

G-Force Express Parcels Limited (Registered number: 02805258)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 33 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£ £ £
Cost
At 1 July 2023 345,646 1,266,294 1,611,940
Additions - 225,091 225,091
Disposals - (10,897 ) (10,897 )
At 30 June 2024 345,646 1,480,488 1,826,134
Depreciation
At 1 July 2023 97,170 917,117 1,014,287
Charge for year 3,990 143,066 147,056
Eliminated on disposal - (10,079 ) (10,079 )
At 30 June 2024 101,160 1,050,104 1,151,264
Net book value
At 30 June 2024 244,486 430,384 674,870
At 30 June 2023 248,476 349,177 597,653

5. FIXED ASSET INVESTMENTS
Other
investments
£
Cost
At 1 July 2023
and 30 June 2024 6,250
Net book value
At 30 June 2024 6,250
At 30 June 2023 6,250

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 890,762 828,607
Provision for bad debts (1,466 ) -
Prepayments and accrued income 31,904 36,208
921,200 864,815

G-Force Express Parcels Limited (Registered number: 02805258)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 100,000 -
Other loans - 48,000
Hire purchase contracts 1,012 6,071
Trade creditors 351,121 303,997
Corporation tax 190,668 146,232
Social security and other taxes 25,183 27,429
VAT 105,857 98,933
Other creditors 90,241 -
Accruals and deferred income 4,895 5,895
868,977 636,557

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans - 1-2 years 100,000 -
Bank loans - 2-5 years 25,000 -
Other loans - 1-2 years - 48,000
Other loans - 2-5 years - 144,000
Other loans more 5yrs instal - 64,000
Hire purchase contracts - 1,012
125,000 257,012

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal - 64,000

9. RESERVES
Capital
Retained redemption
earnings reserve Totals
£ £ £

At 1 July 2023 1,905,337 5 1,905,342
Profit for the year 656,260 656,260
Dividends (187,263 ) (187,263 )
Bonus share issue (2 ) (6 ) (8 )
Purchase of own shares (1,206,000 ) 1 (1,205,999 )
At 30 June 2024 1,168,332 - 1,168,332

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors.