IRIS Accounts Production v24.1.0.578 SC593072 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Ordinary 2.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC5930722023-03-31SC5930722024-03-31SC5930722023-04-012024-03-31SC5930722022-03-31SC5930722022-04-012023-03-31SC5930722023-03-31SC593072ns15:Scotland2023-04-012024-03-31SC593072ns14:PoundSterling2023-04-012024-03-31SC593072ns10:Director12023-04-012024-03-31SC593072ns10:PrivateLimitedCompanyLtd2023-04-012024-03-31SC593072ns10:SmallEntities2023-04-012024-03-31SC593072ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-31SC593072ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-31SC593072ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-31SC593072ns10:FullAccounts2023-04-012024-03-31SC593072ns10:OrdinaryShareClass12023-04-012024-03-31SC593072ns10:Director22023-04-012024-03-31SC593072ns10:RegisteredOffice2023-04-012024-03-31SC593072ns5:CurrentFinancialInstruments2024-03-31SC593072ns5:CurrentFinancialInstruments2023-03-31SC593072ns5:Non-currentFinancialInstruments2024-03-31SC593072ns5:Non-currentFinancialInstruments2023-03-31SC593072ns5:ShareCapital2024-03-31SC593072ns5:ShareCapital2023-03-31SC593072ns5:RetainedEarningsAccumulatedLosses2024-03-31SC593072ns5:RetainedEarningsAccumulatedLosses2023-03-31SC593072ns5:MotorVehicles2023-04-012024-03-31SC593072ns5:ComputerEquipment2023-04-012024-03-31SC593072ns5:MotorVehicles2023-03-31SC593072ns5:ComputerEquipment2023-03-31SC593072ns5:MotorVehicles2024-03-31SC593072ns5:ComputerEquipment2024-03-31SC593072ns5:MotorVehicles2023-03-31SC593072ns5:ComputerEquipment2023-03-31SC593072ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: SC593072 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Parceltec Limited

Parceltec Limited (Registered number: SC593072)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Parceltec Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: M Z Iqbal
W M Mahmood





REGISTERED OFFICE: 100 West George Street
Glasgow
G2 1PP





REGISTERED NUMBER: SC593072 (Scotland)






Parceltec Limited (Registered number: SC593072)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 43,313 34,146

CURRENT ASSETS
Debtors 5 22,966 22,966
Cash at bank and in hand 56,611 47,395
79,577 70,361
CREDITORS
Amounts falling due within one year 6 45,956 75,639
NET CURRENT ASSETS/(LIABILITIES) 33,621 (5,278 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

76,934

28,868

CREDITORS
Amounts falling due after more than one year 7 31,225 14,408
NET ASSETS 45,709 14,460

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 45,707 14,458
SHAREHOLDERS' FUNDS 45,709 14,460

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Parceltec Limited (Registered number: SC593072)

Balance Sheet - continued
31 March 2024


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 8 December 2024 and were signed on its behalf by:





M Z Iqbal - Director


Parceltec Limited (Registered number: SC593072)

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

1. STATUTORY INFORMATION

Parceltec Limited is a private company, limited by shares , registered in Scotland. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Parceltec Limited (Registered number: SC593072)

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

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 41,838 8,561 50,399
Additions 19,995 - 19,995
At 31 March 2024 61,833 8,561 70,394
DEPRECIATION
At 1 April 2023 13,958 2,295 16,253
Charge for year 9,575 1,253 10,828
At 31 March 2024 23,533 3,548 27,081
NET BOOK VALUE
At 31 March 2024 38,300 5,013 43,313
At 31 March 2023 27,880 6,266 34,146

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 22,966 22,966

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Tax 14,081 8,710
VAT 7,852 8,786
Directors' loan accounts 23,473 56,643
Accrued expenses 550 1,500
45,956 75,639

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 31,225 14,408

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2 Ordinary 2 2 2