Company registration number 11694610 (England and Wales)
URGENT SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
URGENT SERVICES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
URGENT SERVICES LIMITED (REGISTERED NUMBER: 11694610)
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
26,935
26,846
Current assets
Debtors
4
460,891
441,968
Creditors: amounts falling due within one year
5
(270,027)
(131,612)
Net current assets
190,864
310,356
Total assets less current liabilities
217,799
337,202
Provisions for liabilities
(6,733)
(5,101)
Net assets
211,066
332,101
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
211,065
332,100
Total equity
211,066
332,101
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 24 January 2025 and are signed on its behalf by:
Mr D B Jaconelli
Director
URGENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Urgent Delivery Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5th Floor, 34 Threadneedle Street, London, EC2R 8AY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents net invoiced sales of services provided in the normal course of business and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover 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 the following conditions are satisfied:
The amount of turnover 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
The costs incurred and the costs to complete the contract can be measured reliably
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% reducing balance
Motor vehicles
25% reducing balance
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
URGENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
URGENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
3
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 January 2023
49,039
49,039
Additions
12,228
13,000
25,228
Disposals
(35,000)
(35,000)
At 31 December 2023
12,228
27,039
39,267
Depreciation and impairment
At 1 January 2023
22,193
22,193
Depreciation charged in the year
2,074
3,788
5,862
Eliminated in respect of disposals
(15,723)
(15,723)
At 31 December 2023
2,074
10,258
12,332
Carrying amount
At 31 December 2023
10,154
16,781
26,935
At 31 December 2022
26,846
26,846
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
338,132
353,387
Amounts owed by group undertakings
612
81,000
Other debtors
122,147
7,581
460,891
441,968
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
44,656
38,044
Trade creditors
2,936
3,019
Amounts owed to group undertakings
189,135
62,107
Taxation and social security
25,772
25,922
Other creditors
7,528
2,520
270,027
131,612
URGENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
6
Securities
This company, along with 2 group companies, have entered into a cross guarantee facility with the group's bank whereby each company guarantees the loans and overdrafts of the fellow group companies.
At 31st December 2023, the balances owed by other companies, guaranteed by this company amounts to £274,002
All assets of the company are subject to fixed and floating charges under the facility.
7
Parent company
The parent company is Jaconelli Ltd, a company incorporated in England and Wales.