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Registration number: 05243074

Interparcel Limited

Filleted Abridged Financial Statements

for the Year Ended 31 August 2023

 

Interparcel Limited

Contents

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Abridged Financial Statements

3 to 7

 

Interparcel Limited

Company Information

Directors

M Walters

Ms S E G Loosemore

N Turner

Company secretary

M Walters

Registered office

Interparcel Ltd
Platinum House
Sussex Manor Business Park
Crawley
RH10 9NH

Auditors

DSK Partners LLP
Chartered Accountants and Statutory Auditors
D S House
306 High Street
Croydon
Surrey
CR0 1NG

 

Interparcel Limited

(Registration number: 05243074)
Abridged Statement of Financial Position as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

36,004

36,173

Tangible assets

5

54,293

11,400

 

90,297

47,573

Current assets

 

Debtors

6

606,468

664,732

Cash at bank and in hand

 

1,032,811

847,737

 

1,639,279

1,512,469

Prepayments and accrued income

 

191,875

87,357

Creditors: Amounts falling due within one year

(1,392,652)

(1,225,585)

Net current assets

 

438,502

374,241

Total assets less current liabilities

 

528,799

421,814

Accruals and deferred income

 

(245,993)

(147,839)

Net assets

 

282,806

273,975

Capital and reserves

 

Called up share capital

7

900

900

Capital redemption reserve

100

100

Retained earnings

281,806

272,975

Shareholders' funds

 

282,806

273,975

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Statement of Financial Position in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 22 August 2024 and signed on its behalf by:
 

M Walters
Company secretary and director

Ms S E G Loosemore
Director

 
     
 

Interparcel Limited

Notes to the Abridged Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Interparcel Ltd
Platinum House
Sussex Manor Business Park
Crawley
RH10 9NH

These financial statements were authorised for issue by the Board on 22 August 2024.

2

Accounting policies

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Going concern

As part of the directors' assessment of going concern, they have prepared detailed profit and loss forecasts for the next 13 months. The forecasts have been prepared on an appropriate basis, taking into account the current economic conditions that exist. After making appropriate enquires, the directors have a reasonable expectation that the company has adequate resources to enable it to continue in operational existence for the foreseeable future.

 

Interparcel Limited

Notes to the Abridged Financial Statements for the Year Ended 31 August 2023 (continued)

2

Accounting policies (continued)

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 22 August 2024 was Romit Basu (FCA), who signed for and on behalf of DSK Partners LLP.

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Computer equipment

33% reducing balance

Intangible assets

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

 

Interparcel Limited

Notes to the Abridged Financial Statements for the Year Ended 31 August 2023 (continued)

2

Accounting policies (continued)

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Computer software

evenly over its estimated life of five years

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 30 (2022 - 39).

4

Intangible assets

Total
£

Cost or valuation

At 1 September 2022

301,607

Additions acquired separately

18,018

At 31 August 2023

319,625

Amortisation

At 1 September 2022

265,434

Amortisation charge

18,187

At 31 August 2023

283,621

Carrying amount

At 31 August 2023

36,004

At 31 August 2022

36,173

 

Interparcel Limited

Notes to the Abridged Financial Statements for the Year Ended 31 August 2023 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2022

169,989

169,989

Additions

54,787

54,787

At 31 August 2023

224,776

224,776

Depreciation

At 1 September 2022

158,589

158,589

Charge for the year

11,894

11,894

At 31 August 2023

170,483

170,483

Carrying amount

At 31 August 2023

54,293

54,293

At 31 August 2022

11,400

11,400

6

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

900

900

900

900

       
 

Interparcel Limited

Notes to the Abridged Financial Statements for the Year Ended 31 August 2023 (continued)


Disclosure under Section 444 (5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

In forming our opinion on the financial statements, which is not qualified, we have considered the adequacy of the disclosures made in note 2 to the financial statements concerning the company’s ability to continue as a going concern.

The other matters explained in note 2 to the financial statements, indicate the existence of a material uncertainty which may cast significant doubt on the company’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.

In auditing the financial statements, we have concluded that the director’s use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Our evaluation of the director’s assessment of the entity’s ability to continue to adopt the going concern basis of accounting included reviewing cash flows and considering the general state of the economy and the company’s business.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Romit Basu FCA (Senior Statutory Auditor)
for and on behalf of DSK Partners LLP