Registered number
NI612715
RBL Couriers Ltd
Unaudited Filleted Accounts
for the year ended
31 May 2024
RBL Couriers Ltd
Registered number: NI612715
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 167,951 117,843
Investments 4 256,777 222,256
424,728 340,099
Current assets
Debtors 5 396,588 358,416
Cash at bank and in hand 242,987 194,111
639,575 552,527
Creditors: amounts falling due within one year 6 (310,422) (274,680)
Net current assets 329,153 277,847
Net assets 753,881 617,946
Capital and reserves
Called up share capital 10 10
Profit and loss account 753,871 617,936
Shareholders' funds 753,881 617,946
The directors are 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 directors acknowledge their 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.
Mr Ian Pollock
Director
Approved by the board on 22 November 2024
RBL Couriers Ltd
Notes to the Accounts
for the year ended 31 May 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.
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:
Plant and machinery 20% straight line
Motor vehicles 20% reducing balance
Investments
Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 8
3 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 June 2023 68,628 210,880 279,508
Additions 10,393 84,526 94,919
At 31 May 2024 79,021 295,406 374,427
Depreciation
At 1 June 2023 49,296 112,369 161,665
Charge for the year 8,204 36,607 44,811
At 31 May 2024 57,500 148,976 206,476
Net book value
At 31 May 2024 21,521 146,430 167,951
At 31 May 2023 19,332 98,511 117,843
4 Investments
Other
investments
£
Cost
At 1 June 2023 222,256
Additions 34,521
At 31 May 2024 256,777
5 Debtors 2024 2023
£ £
Trade debtors 370,839 342,667
Other debtors 25,749 15,749
396,588 358,416
6 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts - 9,149
Trade creditors 216,857 190,972
Directors loan accounts 18,113 3,013
Taxation and social security costs 58,659 69,802
Other creditors 15,483 434
Accruals and deferred income 1,310 1,310
310,422 274,680
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 9,996 9,996
8 Related party transactions
The company owed the directors £18,113 at year end (2023: £3,013).
9 Controlling party
Mr Ian Pollock and Mrs Eileen Pollock are joint controlling shareholders by virtue of their interest in the equity of the company.
10 Other information
RBL Couriers Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
12b Balloo Avenue
Bangor
BT19 7QT
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