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REGISTERED NUMBER: 03356179 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

EXPRESS CABS & COURIERS LTD

EXPRESS CABS & COURIERS LTD (REGISTERED NUMBER: 03356179)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


EXPRESS CABS & COURIERS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: Mr G M Iandolo
Mr G M Jobling





REGISTERED OFFICE: 11 -17 Upper Stone Street
Maidstone
Kent
ME15 6EU





REGISTERED NUMBER: 03356179 (England and Wales)





ACCOUNTANTS: George & Co.
Chartered Accountants
44a Joy Lane
Whitstable
Kent
CT5 4LT

EXPRESS CABS & COURIERS LTD (REGISTERED NUMBER: 03356179)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 1,468,016 1,183,497
Investments 6 1,289,904 984,651
2,757,920 2,168,148

CURRENT ASSETS
Debtors 7 593,819 549,688
Cash at bank 740,700 413,755
1,334,519 963,443
CREDITORS
Amounts falling due within one year 8 998,544 793,460
NET CURRENT ASSETS 335,975 169,983
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,093,895

2,338,131

CREDITORS
Amounts falling due after more than one
year

9

(852,179

)

(947,767

)

PROVISIONS FOR LIABILITIES (361,905 ) (277,792 )
NET ASSETS 1,879,811 1,112,572

CAPITAL AND RESERVES
Called up share capital 25,600 25,600
Retained earnings 1,854,211 1,086,972
SHAREHOLDERS' FUNDS 1,879,811 1,112,572

EXPRESS CABS & COURIERS LTD (REGISTERED NUMBER: 03356179)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 2024


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

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

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 14 January 2025 and were signed on its behalf by:





Mr G M Iandolo - Director


EXPRESS CABS & COURIERS LTD (REGISTERED NUMBER: 03356179)

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

1. STATUTORY INFORMATION

Express Cabs & Couriers 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.

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.

Revenue
Revenue represents the total value, excluding value added tax, of sales earned during the year.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and 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.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

EXPRESS CABS & COURIERS LTD (REGISTERED NUMBER: 03356179)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 115 (2023 - 112 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 64,000
AMORTISATION
At 1 November 2023
and 31 October 2024 64,000
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 November 2023 3,406,661
Additions 835,808
Disposals (809,773 )
At 31 October 2024 3,432,696
DEPRECIATION
At 1 November 2023 2,223,164
Charge for year 522,122
Eliminated on disposal (780,606 )
At 31 October 2024 1,964,680
NET BOOK VALUE
At 31 October 2024 1,468,016
At 31 October 2023 1,183,497

EXPRESS CABS & COURIERS LTD (REGISTERED NUMBER: 03356179)

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

5. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 November 2023 1,076,589
Additions 720,176
Transfer to ownership (218,213 )
At 31 October 2024 1,578,552
DEPRECIATION
At 1 November 2023 316,427
Charge for year 313,727
Transfer to ownership (95,066 )
At 31 October 2024 535,088
NET BOOK VALUE
At 31 October 2024 1,043,464
At 31 October 2023 760,162

6. FIXED ASSET INVESTMENTS

31.10.24 31.10.23
£    £   
Shares in group undertakings 265,454 -
Other investments not loans 1,024,450 984,651
1,289,904 984,651

Additional information is as follows:
Shares in
group
undertakings
£   
COST
Additions 265,454
At 31 October 2024 265,454
NET BOOK VALUE
At 31 October 2024 265,454

Investments (neither listed nor unlisted) were as follows:
31.10.24 31.10.23
£    £   
Other investments 1,024,450 984,651

EXPRESS CABS & COURIERS LTD (REGISTERED NUMBER: 03356179)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 583,819 539,688
Other debtors 10,000 10,000
593,819 549,688

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 64,800 64,800
Hire purchase contracts 451,043 364,337
Trade creditors 105,459 68,717
Taxation and social security 377,220 295,586
Other creditors 22 20
998,544 793,460

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Bank loans 53,000 118,141
Hire purchase contracts 426,773 304,481
Amounts owed to associates - 148,469
Other creditors 372,406 376,676
852,179 947,767

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr G M Iandolo.