Registered number
07126905
TheParcelstore Limited
Filleted Accounts
31 January 2024
TheParcelstore Limited
Registered number: 07126905
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 975 975
Tangible assets 4 17,861 19,335
18,836 20,310
Current assets
Debtors 5 13,750 17,373
Cash at bank and in hand 72,115 87,542
85,865 104,915
Creditors: amounts falling due within one year 6 (17,691) (18,940)
Net current assets 68,174 85,975
Total assets less current liabilities 87,010 106,285
Creditors: amounts falling due after more than one year 7 (24,110) (33,939)
Provisions for liabilities (4,773) (4,982)
Net assets 58,127 67,364
Capital and reserves
Called up share capital 100 100
Profit and loss account 58,027 67,264
Shareholders' funds 58,127 67,364
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Stuart Millward
Director
Approved by the board on 14 October 2024
TheParcelstore Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Furniture, fixtures and equipment 25% reducing balance
Plant and machinery over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
The company does not operate a pension scheme.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Cost
At 1 February 2023 975
At 31 January 2024 975
Amortisation
At 31 January 2024 -
Net book value
At 31 January 2024 975
At 31 January 2023 975
4 Tangible fixed assets
Fixtures & equipment Plant and machinery Total
£ £ £
Cost
At 1 February 2023 21,063 26,030 47,093
Additions 875 - 875
At 31 January 2024 21,938 26,030 47,968
Depreciation
At 1 February 2023 16,540 11,218 27,758
Charge for the year 1,349 1,000 2,349
At 31 January 2024 17,889 12,218 30,107
Net book value
At 31 January 2024 4,049 13,812 17,861
At 31 January 2023 4,523 14,812 19,335
5 Debtors 2024 2023
£ £
Trade debtors 119 3,891
Other debtors 13,631 13,482
13,750 17,373
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 3,333 3,333
Trade creditors 643 4,340
Taxation and social security costs 12,410 10,517
Other creditors 1,305 750
17,691 18,940
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 24,110 33,939
8 Other information
TheParcelstore Limited is a private company limited by shares and incorporated in England. Its registered office is:
11 Botmead Road
Northampton
Northamptonshire
NN3 5JF
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