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REGISTERED NUMBER: 05814669 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Express Global Limited

Express Global Limited (Registered number: 05814669)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Express Global Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: A J Mitchell
Mrs B Mitchell
P Monger





REGISTERED OFFICE: Suite 2
Victoria House
South Street
Farnham
Surrey
GU9 7QU





REGISTERED NUMBER: 05814669 (England and Wales)





ACCOUNTANTS: Branston Adams
Suite 2, Victoria House
South Street
Farnham
Surrey
GU9 7QU

Express Global Limited (Registered number: 05814669)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 4,025 2,590
4,025 2,590

CURRENT ASSETS
Debtors 6 288,168 264,089
Cash at bank and in hand 1,272,223 1,010,483
1,560,391 1,274,572
CREDITORS
Amounts falling due within one year 7 469,567 282,739
NET CURRENT ASSETS 1,090,824 991,833
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,094,849

994,423

PROVISIONS FOR LIABILITIES 1,006 -
NET ASSETS 1,093,843 994,423

CAPITAL AND RESERVES
Called up share capital 115 115
Retained earnings 1,093,728 994,308
SHAREHOLDERS' FUNDS 1,093,843 994,423

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 February 2025 and were signed on its behalf by:




A J Mitchell - Director



Mrs B Mitchell - Director


Express Global Limited (Registered number: 05814669)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Express Global Limited 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.

Turnover
Turnover relates to income arising in relation to the ordinary activities of the business, net of VAT and sales discounts. In accordance with generally accepted accounting standards for agents, import and export duties settled on behalf of customers are offset and are therefore not included within turnover.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Patents and licenses
The company's franchise license has been amortised evenly over the original term of the agreement, which was 5 years starting 1 June 2006.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost
Fixtures and fittings - 33% on cost
Computer equipment - 33% on 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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 8 (2023 - 8 ) .

Express Global Limited (Registered number: 05814669)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 June 2023
and 31 May 2024 200,000
AMORTISATION
At 1 June 2023
and 31 May 2024 200,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

The company's intangible assets relate to it's franchise rights which have been purchased from Express Worldwide Limited, to cover the GU postcode area.

The value of the franchise rights, transferred to Express Global Limited, was calculated to be £200,000. This valuation has been agreed with the HM Revenue and Customs, Capital Taxes department.

The company's franchise license has been amortised evenly over the original term of the agreement, which was 5 years starting 1 June 2006.

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 June 2023 499 2,340 4,152 6,991
Additions - - 2,898 2,898
At 31 May 2024 499 2,340 7,050 9,889
DEPRECIATION
At 1 June 2023 499 2,340 1,565 4,404
Charge for year - - 1,460 1,460
At 31 May 2024 499 2,340 3,025 5,864
NET BOOK VALUE
At 31 May 2024 - - 4,025 4,025
At 31 May 2023 - - 2,587 2,587

.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 288,168 259,525
Other debtors - 4,088
Deferred tax asset - 476
288,168 264,089

Express Global Limited (Registered number: 05814669)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 248,256 202,617
Tax 98,952 59,685
Social security and other taxes 5,332 5,237
VAT 13,875 12,283
Other creditors 1,197 1,273
Directors' current accounts 100,455 69
Accrued expenses 1,500 1,575
469,567 282,739

8. ULTIMATE CONTROLLING PARTY

The company is under the control of A and B Mitchell by virtue of ordinary voting shares held.