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COMPANY REGISTRATION NUMBER: 11933509
Wilson's Courier Services Ltd
Filleted Unaudited Financial Statements
30 April 2024
Wilson's Courier Services Ltd
Financial Statements
Year ended 30 April 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Wilson's Courier Services Ltd
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
16,098
27,457
Current assets
Debtors
6
171,316
36,824
Cash at bank and in hand
91
10,638
--------
-------
171,407
47,462
Creditors: amounts falling due within one year
7
149,351
55,411
--------
-------
Net current assets/(liabilities)
22,056
( 7,949)
-------
-------
Total assets less current liabilities
38,154
19,508
Creditors: amounts falling due after more than one year
8
4,886
9,520
Provisions
Taxation including deferred tax
3,632
5,195
-------
-------
Net assets
29,636
4,793
-------
-------
Capital and reserves
Called up share capital
1
1
Profit and loss account
29,635
4,792
-------
------
Shareholders funds
29,636
4,793
-------
------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 20 January 2025 , and are signed on behalf of the board by:
Mr M R Wilson
Director
Company registration number: 11933509
Wilson's Courier Services Ltd
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Flat 5, 114 Clarence Road, St. Albans, Herts, AL1 4NQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Revenue recognition
The turnover shown in the profit and loss account represents amounts receivable for work carried out during the year.
(c) Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
(d) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(e) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% straight line
Office equipment
-
33% straight line
(f) Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
(g) Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 May 2023
40,198
3,236
43,434
Additions
906
906
Disposals
( 5,034)
( 487)
( 5,521)
-------
------
-------
At 30 April 2024
35,164
3,655
38,819
-------
------
-------
Depreciation
At 1 May 2023
13,643
2,334
15,977
Charge for the year
8,790
460
9,250
Disposals
( 2,170)
( 336)
( 2,506)
-------
------
-------
At 30 April 2024
20,263
2,458
22,721
-------
------
-------
Carrying amount
At 30 April 2024
14,901
1,197
16,098
-------
------
-------
At 30 April 2023
26,555
902
27,457
-------
------
-------
6. Debtors
2024
2023
£
£
Trade debtors
167,799
34,840
Other debtors
3,517
1,984
--------
-------
171,316
36,824
--------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
2,600
2,400
Trade creditors
8,104
11,600
Corporation tax
23,069
4,854
Social security and other taxes
89,408
407
Other creditors
26,170
36,150
--------
-------
149,351
55,411
--------
-------
Included in other creditors is an amount of £2,234 (2023 £2,234) which represents a short-term hire purchase liability secured on the related fixed asset.
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
3,200
5,600
Other creditors
1,686
3,920
------
------
4,886
9,520
------
------
Other creditors represent a hire purchase liability secured on the related fixed asset.