Company Registration No. 09425122 (England and Wales)
The Society of Couriers
Unaudited accounts
for the year ended 30 June 2024
The Society of Couriers
Unaudited accounts
Contents
The Society of Couriers
Company Information
for the year ended 30 June 2024
Directors
Carl Frank Lomas
David Lawrence Byron Stringer-LaMarre
William Charles Jenkins
Callum John MacPherson
Melanie-Gaye Mercedes Stancliffe
Paul David Sainthouse
Carolyn Foreman Dwyer
Secretary
Tracey Elizabeth Worth
Company Number
09425122 (England and Wales)
Registered Office
C/O Accounts And Legal
81 King Street
Manchester
Greater Manchester
M2 4AH
England
Accountants
Accounts and Legal Consultants Ltd
Suite 1-3, The Hop Exchange
24 Southwark Street
London
SE1 1TY
The Society of Couriers
Accountants' report
Accountants' report to the board of directors of The Society of Couriers on the preparation of the unaudited statutory accounts for the year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
The Society of Couriers for the year ended
30 June 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of The Society of Couriers, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of The Society of Couriers and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Society of Couriers and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that The Society of Couriers has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of The Society of Couriers. You consider that The Society of Couriers is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of The Society of Couriers. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Accounts and Legal Consultants Ltd
Suite 1-3, The Hop Exchange
24 Southwark Street
London
SE1 1TY
16 October 2024
The Society of Couriers
Statement of financial position
as at 30 June 2024
Tangible assets
2,097
3,446
Cash at bank and in hand
9,375
396
Creditors: amounts falling due within one year
(3,589)
(6,906)
Net current assets
11,929
7,155
Profit and loss account
14,026
10,601
Members' funds
14,026
10,601
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2024 and were signed on its behalf by
Carl Frank Lomas
Director
Company Registration No. 09425122
The Society of Couriers
Notes to the Accounts
for the year ended 30 June 2024
The Society of Couriers is a private company, limited by guarantee, registered in England and Wales, registration number 09425122. The registered office is C/O Accounts And Legal, 81 King Street, Manchester, Greater Manchester, M2 4AH, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 30 June 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 July 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
Straight line over 3 years
In line with review pertaining to the privy council application, as outlined elsewhere, we have reviewed our policy with regard to debts beyond our standard payment terms. As a result of this all debts over a 12 month term have been written off and a full provisions made against all debts over a 6 month term
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Society of Couriers
Notes to the Accounts
for the year ended 30 June 2024
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
• The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of tax liabilities or other future taxable profits; and
• Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
4
Tangible fixed assets
Computer equipment
Amounts falling due within one year
Trade debtors
3,885
13,665
Accrued income and prepayments
2,258
-
The Society of Couriers
Notes to the Accounts
for the year ended 30 June 2024
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
2,184
3,261
7
Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).