Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31No description of principal activity2023-01-01false4758truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04572973 2023-01-01 2023-12-31 04572973 2022-01-01 2022-12-31 04572973 2023-12-31 04572973 2022-12-31 04572973 c:Director1 2023-01-01 2023-12-31 04572973 c:Director2 2023-01-01 2023-12-31 04572973 d:Buildings 2023-01-01 2023-12-31 04572973 d:Buildings 2023-12-31 04572973 d:Buildings 2022-12-31 04572973 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04572973 d:Buildings d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04572973 d:PlantMachinery 2023-01-01 2023-12-31 04572973 d:PlantMachinery 2023-12-31 04572973 d:PlantMachinery 2022-12-31 04572973 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04572973 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04572973 d:MotorVehicles 2023-01-01 2023-12-31 04572973 d:MotorVehicles 2023-12-31 04572973 d:MotorVehicles 2022-12-31 04572973 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04572973 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04572973 d:FurnitureFittings 2023-01-01 2023-12-31 04572973 d:FurnitureFittings 2023-12-31 04572973 d:FurnitureFittings 2022-12-31 04572973 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04572973 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04572973 d:OfficeEquipment 2023-01-01 2023-12-31 04572973 d:OfficeEquipment 2023-12-31 04572973 d:OfficeEquipment 2022-12-31 04572973 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04572973 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04572973 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04572973 d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04572973 d:CurrentFinancialInstruments 2023-12-31 04572973 d:CurrentFinancialInstruments 2022-12-31 04572973 d:Non-currentFinancialInstruments 2023-12-31 04572973 d:Non-currentFinancialInstruments 2022-12-31 04572973 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04572973 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04572973 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 04572973 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 04572973 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 04572973 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 04572973 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 04572973 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 04572973 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 04572973 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-12-31 04572973 d:ShareCapital 2023-12-31 04572973 d:ShareCapital 2022-12-31 04572973 d:RevaluationReserve 2023-12-31 04572973 d:RevaluationReserve 2022-12-31 04572973 d:RetainedEarningsAccumulatedLosses 2023-12-31 04572973 d:RetainedEarningsAccumulatedLosses 2022-12-31 04572973 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 04572973 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 04572973 d:OtherDeferredTax 2023-12-31 04572973 d:OtherDeferredTax 2022-12-31 04572973 c:OrdinaryShareClass1 2023-01-01 2023-12-31 04572973 c:OrdinaryShareClass1 2023-12-31 04572973 c:OrdinaryShareClass1 2022-12-31 04572973 c:OrdinaryShareClass2 2023-01-01 2023-12-31 04572973 c:OrdinaryShareClass2 2023-12-31 04572973 c:OrdinaryShareClass2 2022-12-31 04572973 c:FRS102 2023-01-01 2023-12-31 04572973 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04572973 c:FullAccounts 2023-01-01 2023-12-31 04572973 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04572973 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 04572973 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 04572973 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 04572973 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 04572973 2 2023-01-01 2023-12-31 04572973 5 2023-01-01 2023-12-31 04572973 6 2023-01-01 2023-12-31 04572973 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 04572973










STATION COURIERS (UK) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
STATION COURIERS (UK) LIMITED
REGISTERED NUMBER: 04572973

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,875,734
1,988,398

Investments
 5 
12,350
12,350

  
1,888,084
2,000,748

Current assets
  

Debtors: amounts falling due within one year
 6 
1,410,166
1,233,508

Cash at bank and in hand
 7 
136,916
23,740

  
1,547,082
1,257,248

Creditors: amounts falling due within one year
 8 
(981,877)
(992,658)

Net current assets
  
 
 
565,205
 
 
264,590

Total assets less current liabilities
  
2,453,289
2,265,338

Creditors: amounts falling due after more than one year
 9 
(873,565)
(780,586)

Provisions for liabilities
  

Deferred tax
  
(231,352)
(233,765)

  
 
 
(231,352)
 
 
(233,765)

Net assets
  
1,348,372
1,250,987


Capital and reserves
  

Called up share capital 
 13 
1,001
1,001

Revaluation reserve
  
456,421
456,421

Profit and loss account
  
890,950
793,565

  
1,348,372
1,250,987


Page 1

 
STATION COURIERS (UK) LIMITED
REGISTERED NUMBER: 04572973
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




C J Woolnough
J Woolnough
Director
Director


Date: 29 August 2024

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
STATION COURIERS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Station Couriers (UK) Limited, 04572973, is a private limited company, limited by shares, incorporated in England and Wales, with a registered office and principal place of business at Unit D, Mochdre Industrial Estate, Newtown, Powys, SY16 4LE.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
STATION COURIERS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
STATION COURIERS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
not depreciated
Plant and machinery
-
25% straight line
Motor vehicles
-
25% straight line
Fixtures and fittings
-
25% straight line
Office equipment
-
25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Freehold buildings are not deprciated on the grounds that the residual value will at least be equal to the carrying values in the financial statements.

 
2.9

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.10

Valuation of investments

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
STATION COURIERS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 47 (2022 - 58).

Page 6

 
STATION COURIERS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment

£
£
£
£
£



Cost or valuation


At 1 January 2023
1,535,000
254,412
1,375,073
10,718
70,580


Additions
-
12,751
126,460
2,687
992


Disposals
-
(26,544)
(35,440)
-
(18,025)



At 31 December 2023

1,535,000
240,619
1,466,093
13,405
53,547



Depreciation


At 1 January 2023
-
217,469
975,021
5,976
58,920


Charge for the year on owned assets
-
13,183
30,330
2,492
4,470


Charge for the year on financed assets
-
12,767
184,937
-
-


Disposals
-
(20,509)
(35,438)
-
(16,688)



At 31 December 2023

-
222,910
1,154,850
8,468
46,702



Net book value



At 31 December 2023
1,535,000
17,709
311,243
4,937
6,845



At 31 December 2022
1,535,000
36,943
400,052
4,742
11,661
Page 7

 
STATION COURIERS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

           4.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 January 2023
3,245,783


Additions
142,890


Disposals
(80,009)



At 31 December 2023

3,308,664



Depreciation


At 1 January 2023
1,257,386


Charge for the year on owned assets
50,475


Charge for the year on financed assets
197,704


Disposals
(72,635)



At 31 December 2023

1,432,930



Net book value



At 31 December 2023
1,875,734



At 31 December 2022
1,988,398

Cost or valuation at 31 December 2023 is as follows:

Land and buildings
£


At cost
926,439
At valuation:

Market valuation by Halls Holdings Ltd on 10 January 2023 on an open market basis
608,561



1,535,000

Page 8

 
STATION COURIERS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

           4.Tangible fixed assets (continued)

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2023
2022
£
£



Cost
926,439
926,439

Net book value
926,439
926,439


5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 January 2023
12,350



At 31 December 2023
12,350





6.


Debtors

2023
2022
£
£


Trade debtors
645,492
528,684

Amounts owed by group undertakings
454,006
394,701

Other debtors
298,053
302,087

Prepayments and accrued income
12,615
8,036

1,410,166
1,233,508


Page 9

 
STATION COURIERS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
136,916
23,740

Less: factoring account
(238,027)
(283,672)

(101,111)
(259,932)



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Factoring account
238,027
283,672

Bank loans
111,856
87,611

Trade creditors
254,574
203,655

Taxation and social security
137,915
182,826

Obligations under finance lease and hire purchase contracts
212,282
230,118

Other creditors
3,749
1,701

Accruals and deferred income
23,474
3,075

981,877
992,658



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
688,767
534,858

Net obligations under finance leases and hire purchase contracts
184,798
245,728

873,565
780,586


Page 10

 
STATION COURIERS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
111,856
87,611


111,856
87,611

Amounts falling due 1-2 years

Bank loans
111,856
87,612


111,856
87,612

Amounts falling due 2-5 years

Bank loans
232,235
199,501


232,235
199,501

Amounts falling due after more than 5 years

Bank loans
344,676
247,745

344,676
247,745

800,623
622,469



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
212,282
230,118

Between 1-5 years
184,798
245,728

397,080
475,846

Page 11

 
STATION COURIERS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Deferred taxation




2023


£






At beginning of year
(233,766)


Charged to profit or loss
2,414



At end of year
(231,352)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(79,212)
(81,626)

Tax due on revaluation
(152,140)
(152,140)

(231,352)
(233,766)


13.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary A shares of £1.00 each
1,000
1,000
1 (2022 - 1) Ordinary B share of £1.00
1
1

1,001

1,001


 
Page 12