Registration number:
Interparcel Limited
for the Year Ended 31 August 2023
Interparcel Limited
Contents
Company Information |
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Abridged Statement of Financial Position |
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Notes to the Abridged Financial Statements |
Interparcel Limited
Company Information
Directors |
M Walters Ms S E G Loosemore N Turner |
Company secretary |
M Walters |
Registered office |
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Auditors |
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Interparcel Limited
(Registration number: 05243074)
Abridged Statement of Financial Position as at 31 August 2023
Note |
2023 |
2022 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Prepayments and accrued income |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Accruals and deferred income |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
900 |
900 |
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Capital redemption reserve |
100 |
100 |
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Retained earnings |
281,806 |
272,975 |
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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
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Interparcel Limited
Notes to the Abridged Financial Statements for the Year Ended 31 August 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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
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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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Intangible assets |
Total |
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Cost or valuation |
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At 1 September 2022 |
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Additions acquired separately |
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At 31 August 2023 |
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Amortisation |
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At 1 September 2022 |
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Amortisation charge |
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At 31 August 2023 |
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Carrying amount |
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At 31 August 2023 |
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At 31 August 2022 |
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Interparcel Limited
Notes to the Abridged Financial Statements for the Year Ended 31 August 2023 (continued)
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 September 2022 |
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Additions |
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At 31 August 2023 |
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Depreciation |
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At 1 September 2022 |
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Charge for the year |
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At 31 August 2023 |
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Carrying amount |
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At 31 August 2023 |
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At 31 August 2022 |
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Debtors |
Debtors includes £Nil (2022 - £Nil) due after more than one year.
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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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