Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29false2023-03-01No description of principal activityfalse56trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07934592 2023-03-01 2024-02-29 07934592 2022-03-01 2023-02-28 07934592 2024-02-29 07934592 2023-02-28 07934592 c:Director2 2023-03-01 2024-02-29 07934592 d:MotorVehicles 2023-03-01 2024-02-29 07934592 d:MotorVehicles 2024-02-29 07934592 d:MotorVehicles 2023-02-28 07934592 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 07934592 d:OfficeEquipment 2023-03-01 2024-02-29 07934592 d:OfficeEquipment 2024-02-29 07934592 d:OfficeEquipment 2023-02-28 07934592 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 07934592 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 07934592 d:CurrentFinancialInstruments 2024-02-29 07934592 d:CurrentFinancialInstruments 2023-02-28 07934592 d:Non-currentFinancialInstruments 2024-02-29 07934592 d:Non-currentFinancialInstruments 2023-02-28 07934592 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 07934592 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 07934592 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 07934592 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 07934592 d:ShareCapital 2024-02-29 07934592 d:ShareCapital 2023-02-28 07934592 d:RetainedEarningsAccumulatedLosses 2024-02-29 07934592 d:RetainedEarningsAccumulatedLosses 2023-02-28 07934592 c:OrdinaryShareClass1 2023-03-01 2024-02-29 07934592 c:OrdinaryShareClass1 2024-02-29 07934592 c:FRS102 2023-03-01 2024-02-29 07934592 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 07934592 c:FullAccounts 2023-03-01 2024-02-29 07934592 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 07934592 d:WithinOneYear 2024-02-29 07934592 d:WithinOneYear 2023-02-28 07934592 d:BetweenOneFiveYears 2024-02-29 07934592 d:BetweenOneFiveYears 2023-02-28 07934592 d:MoreThanFiveYears 2024-02-29 07934592 d:MoreThanFiveYears 2023-02-28 07934592 d:HirePurchaseContracts d:WithinOneYear 2024-02-29 07934592 d:HirePurchaseContracts d:WithinOneYear 2023-02-28 07934592 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-02-29 07934592 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-02-28 07934592 2 2023-03-01 2024-02-29 07934592 d:AcceleratedTaxDepreciationDeferredTax 2024-02-29 07934592 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 07934592 d:EntityControlledByKeyManagementPersonnel1 2023-03-01 2024-02-29 07934592 d:EntityControlledByKeyManagementPersonnel1 2024-02-29 07934592 d:EntityControlledByKeyManagementPersonnel2 2023-03-01 2024-02-29 07934592 d:EntityControlledByKeyManagementPersonnel2 2024-02-29 07934592 d:EntityControlledByKeyManagementPersonnel3 2023-03-01 2024-02-29 07934592 d:EntityControlledByKeyManagementPersonnel3 2024-02-29 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07934592









SEND & RECEIVE WORLDWIDE EXPRESS UK LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
SEND & RECEIVE WORLDWIDE EXPRESS UK LIMITED
REGISTERED NUMBER: 07934592

STATEMENT OF FINANCIAL POSITION
AS AT 29 FEBRUARY 2024


2024

2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
25,092
33,456

Current assets
  

Debtors: amounts falling due within one year
 5 
143,156
179,455

Cash at bank and in hand
 6 
52,603
16,842

  
195,759
196,297

Creditors: amounts falling due within one year
 7 
(142,885)
(72,717)

Net current assets
  
 
 
52,874
 
 
123,580

Total assets less current liabilities
  
77,966
157,036

Creditors: amounts falling due after more than one year
 8 
(9,613)
(18,145)

Provisions for liabilities
  

Deferred Taxation
 10 
(6,300)
(8,400)

Net assets
  
62,053
130,491


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
61,953
130,391

  
62,053
130,491


Page 1

 
SEND & RECEIVE WORLDWIDE EXPRESS UK LIMITED
REGISTERED NUMBER: 07934592
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 29 FEBRUARY 2024

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 Statement of comprehensive income 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 on 27 November 2024.




N L A Stone-Duvenage
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
SEND & RECEIVE WORLDWIDE EXPRESS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Send & Receive Worldwide Express UK Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 3 Brook Business Centre, Cowley Mill Road, Uxbridge, Middlesex, UB8 2FX.
The company specialises in mail and freight forwarding services.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and on the assumption that the company is a going concern.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have taken consideration of the impact of inflationary pressures in the economy and the withdrawal of the United Kingdom from the Europe on the business. The directors note that the company is trading adequately and has sufficient working capital and other finance available to continue trading for a period of not less than 12 months from the Statement of financial position date. As such, the directors believe that there are no significant uncertainties in their assessment of whether the business is a going concern and therefore have prepared the accounts on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'other operating income'.

Page 3

 
SEND & RECEIVE WORLDWIDE EXPRESS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight-line basis over the lease term.

 
2.6

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to the Statement of comprehensive income 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.

 
2.8

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 the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
SEND & RECEIVE WORLDWIDE EXPRESS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income 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 reporting date in the countries where the Company operates and generates income.

 
2.10

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following bases:

Motor vehicles
-
25% reducing balance
Office equipment
-
25% reducing balance

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 the Statement of comprehensive income .

 
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.

 
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

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.

Page 5

 
SEND & RECEIVE WORLDWIDE EXPRESS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 6).


4.


Tangible fixed assets







Motor vehicles
Office equipment
Total

£
£
£



Cost


At 1 March 2023
67,142
16,450
83,592



At 29 February 2024

67,142
16,450
83,592



Depreciation


At 1 March 2023
37,473
12,663
50,136


Charge for the year
7,417
947
8,364



At 29 February 2024

44,890
13,610
58,500



Net book value



At 29 February 2024
22,252
2,840
25,092



At 28 February 2023
29,669
3,787
33,456

Page 6

 
SEND & RECEIVE WORLDWIDE EXPRESS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
112,256
151,953

Other debtors
11,320
13,994

Prepayments and accrued income
19,580
13,508

143,156
179,455


Included within other debtors is an amount of £4,873 (2023 - £4,873) which is secured against the company's deferment account.


6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
52,603
16,842

52,603
16,842



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
86,117
49,502

Corporation tax
-
4,350

Other taxation and social security
692
-

Obligations under finance lease and hire purchase contracts
8,532
10,053

Other creditors
44,044
5,312

Accruals and deferred income
3,500
3,500

142,885
72,717


Obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.

Page 7

 
SEND & RECEIVE WORLDWIDE EXPRESS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
9,613
18,145

9,613
18,145


Obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.


9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
8,532
10,053

Between 1-5 years
9,613
18,145

18,145
28,198

Page 8

 
SEND & RECEIVE WORLDWIDE EXPRESS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

10.


Deferred taxation






2024


£






At beginning of year
8,400


Credited to the Statement of comprehensive income
(2,100)



At end of year
6,300

The provision for deferred taxation is made up as follows:

29 February
28 February
2024
2023
£
£


Accelerated capital allowances
6,300
8,400

6,300
8,400


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1 each
100
100



12.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £5,167 (2023 - £5,247). The total contributions payable at the year end were £1,151 (2023 - £964).

Page 9

 
SEND & RECEIVE WORLDWIDE EXPRESS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

13.


Commitments under operating leases

At 29 February 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
39,450
39,450

Later than 1 year and not later than 5 years
184,100
210,400

Later than 5 years
-
13,150

223,550
263,000


14.


Related party transactions

During the year, the company made purchases of £49,786 (2023 - £25,575) from Send & Receive Couriers, a company incorporated in South Africa and under common control. At the year end, the amount owed to Send & Receive Couriers, included in trade creditors, was £3,216 (2023 - £755). 
 
During the year, the company made sales of £51,906 (2023 - £68,616) to Send & Receive Couriers. At the year end, the amount owed by Send & Receive Couriers was £16,610 (2023 - £19,661), and is included in trade debtors.
 
Included within other creditors are amounts owed to the directors of £40,000 (2023 - £Nil).


15.


Controlling party

The ultimate controlling party are the directors, D C Duvenage and N L A Stone-Duvenage, by virtue of their majority shareholding.

Page 10