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Company Registration No. 03019745 (England and Wales)
Despatch Point Ltd Unaudited accounts for the year ended 31 March 2024
Despatch Point Ltd Unaudited accounts Contents
Page
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Despatch Point Ltd Company Information for the year ended 31 March 2024
Directors
C M Barnes M Barnes
Company Number
03019745 (England and Wales)
Registered Office
D2 Grafton Way West Ham Industrial Estate Basingstoke RG33 6HY United Kingdom
Accountants
Woods Russell Limited First Floor Unit S Loddon Business Centre Roentgen Road Basingstoke RG24 8NG
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Despatch Point Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
168,039 
164,711 
Current assets
Inventories
16,921 
3,500 
Debtors
168,088 
173,768 
Cash at bank and in hand
22,250 
3,545 
207,259 
180,813 
Creditors: amounts falling due within one year
(249,583)
(205,906)
Net current liabilities
(42,324)
(25,093)
Total assets less current liabilities
125,715 
139,618 
Creditors: amounts falling due after more than one year
(85,708)
(108,284)
Provisions for liabilities
Deferred tax
(31,772)
(26,266)
Net assets
8,235 
5,068 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
8,233 
5,066 
Shareholders' funds
8,235 
5,068 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 May 2024 and were signed on its behalf by
C M Barnes Director Company Registration No. 03019745
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Despatch Point Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Despatch Point Ltd is a private company, limited by shares, registered in England and Wales, registration number 03019745. The registered office is D2 Grafton Way, West Ham Industrial Estate, Basingstoke, RG33 6HY, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing balance method
Motor vehicles
20% Reducing balance method
Computer equipment
15% Reducing balance method
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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Despatch Point Ltd Notes to the Accounts for the year ended 31 March 2024
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2023
47,665 
169,386 
11,777 
228,828 
Additions
21,835 
- 
2,107 
23,942 
Disposals
(2,800)
- 
- 
(2,800)
At 31 March 2024
66,700 
169,386 
13,884 
249,970 
Depreciation
At 1 April 2023
22,399 
35,003 
6,715 
64,117 
Charge for the year
5,856 
10,883 
1,075 
17,814 
At 31 March 2024
28,255 
45,886 
7,790 
81,931 
Net book value
At 31 March 2024
38,445 
123,500 
6,094 
168,039 
At 31 March 2023
25,266 
134,383 
5,062 
164,711 
2024 
2023 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
124,472 
82,968 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
8,293 
Trade debtors
147,482 
123,070 
Accrued income and prepayments
8,364 
28,585 
Other debtors
12,242 
13,820 
168,088 
173,768 
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Despatch Point Ltd Notes to the Accounts for the year ended 31 March 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
6,628 
10,627 
Obligations under finance leases and hire purchase contracts
29,405 
27,899 
Trade creditors
123,097 
113,786 
Taxes and social security
16,769 
2,646 
Other creditors
55,633 
40,105 
Loans from directors
10,960 
1,163 
Accruals
7,091 
9,680 
249,583 
205,906 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
30,947 
38,387 
Obligations under finance leases and hire purchase contracts
54,761 
69,897 
85,708 
108,284 
Creditors due in over one year include amounts secured over the assets of the company. These amounts are repayable over 5 years and attract a commercial rate of interest.
8
Operating lease commitments
2024 
2023 
£ 
£ 
At 31 March 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Later than five years
29,212 
- 
9
Average number of employees
During the year the average number of employees was 9 (2023: 5).
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