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REGISTERED NUMBER: 08839765 (England and Wales)














PROTECTED COURIER SERVICES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






PROTECTED COURIER SERVICES LTD (REGISTERED NUMBER: 08839765)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROTECTED COURIER SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: S J Reynolds





REGISTERED OFFICE: Compound C, Power Park Industrial Estate
Calder Vale Road
Wakefield
West Yorkshire
WF1 5PE





REGISTERED NUMBER: 08839765 (England and Wales)





ACCOUNTANTS: UHY BPR Heaton
Chartered Accountants
Glenewes House
Gate Way Drive
Leeds
West Yorkshire
LS19 7XY

PROTECTED COURIER SERVICES LTD (REGISTERED NUMBER: 08839765)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 372,143 562,760

CURRENT ASSETS
Debtors 5 146,577 183,989
Cash at bank 82,627 51,917
229,204 235,906
CREDITORS
Amounts falling due within one year 6 303,477 327,800
NET CURRENT LIABILITIES (74,273 ) (91,894 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

297,870

470,866

CREDITORS
Amounts falling due after more than one
year

7

(203,489

)

(315,859

)

PROVISIONS FOR LIABILITIES (70,532 ) (82,476 )
NET ASSETS 23,849 72,531

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 13,849 62,531
23,849 72,531

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PROTECTED COURIER SERVICES LTD (REGISTERED NUMBER: 08839765)

BALANCE SHEET - continued
31 JANUARY 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 director and authorised for issue on 23 October 2024 and were signed by:





S J Reynolds - Director


PROTECTED COURIER SERVICES LTD (REGISTERED NUMBER: 08839765)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Protected Courier Services Ltd 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.

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


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.
Plant and machinery - 15% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 15% on reducing balance

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial assets and liabilities are initially measured at transaction price, except for those financial assets classified as at fair value through profit or loss.

Basic financial instruments
Basic financial instruments are those with relatively straight forward terms and would normally include cash, bank balances, trade debtors, trade creditors and uncomplicated bank loans.

Where the arrangement does not constitute a financing transaction, e.g. trade debtors on normal commercial terms, the debtor will be valued initially at transaction price (i.e. cost) and subsequently at transaction price less impairment (if any) due to concerns over recoverability.

Taxation
Taxation for the year comprises of 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.

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.

PROTECTED COURIER SERVICES LTD (REGISTERED NUMBER: 08839765)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

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.

Trade debtors under invoice discounting arrangement
The company utilises an invoice discounting agreement in respect of trade debtors. The terms of the arrangement are such that the company is obliged to support any losses made by the factor. Therefore separate presentation of trade debtors and the related advances has been adopted.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 725,982
Additions 47,552
Disposals (257,926 )
At 31 January 2024 515,608
DEPRECIATION
At 1 February 2023 163,222
Charge for year 98,037
Eliminated on disposal (117,794 )
At 31 January 2024 143,465
NET BOOK VALUE
At 31 January 2024 372,143
At 31 January 2023 562,760

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 126,240 137,144
Other debtors 20,337 46,845
146,577 183,989

PROTECTED COURIER SERVICES LTD (REGISTERED NUMBER: 08839765)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 98,593 117,678
Hire purchase contracts (see note 8) 125,769 114,618
Trade creditors 18,364 30,256
Taxation and social security 48,086 34,532
Other creditors 12,665 30,716
303,477 327,800

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 13,334 23,333
Hire purchase contracts (see note 8) 190,155 292,526
203,489 315,859

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 125,769 114,618
Between one and five years 190,155 292,526
315,924 407,144

Non-cancellable operating leases
2024 2023
£    £   
Within one year 24,137 24,137
Between one and five years 30,172 54,308
54,309 78,445

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 315,924 407,144

Hire purchase liabilities are secured against the assets to which they relate.