IRIS Accounts Production v24.3.2.46 SC186440 director 1.7.23 30.6.24 30.6.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC1864402023-06-30SC1864402024-06-30SC1864402023-07-012024-06-30SC1864402022-06-30SC1864402022-07-012023-06-30SC1864402023-06-30SC186440ns15:Scotland2023-07-012024-06-30SC186440ns14:PoundSterling2023-07-012024-06-30SC186440ns10:Director12023-07-012024-06-30SC186440ns10:PrivateLimitedCompanyLtd2023-07-012024-06-30SC186440ns10:SmallEntities2023-07-012024-06-30SC186440ns10:AuditExemptWithAccountantsReport2023-07-012024-06-30SC186440ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-30SC186440ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-30SC186440ns10:FullAccounts2023-07-012024-06-30SC186440ns10:RegisteredOffice2023-07-012024-06-30SC186440ns5:CurrentFinancialInstruments2024-06-30SC186440ns5:CurrentFinancialInstruments2023-06-30SC186440ns5:Non-currentFinancialInstruments2024-06-30SC186440ns5:Non-currentFinancialInstruments2023-06-30SC186440ns5:ShareCapital2024-06-30SC186440ns5:ShareCapital2023-06-30SC186440ns5:RetainedEarningsAccumulatedLosses2024-06-30SC186440ns5:RetainedEarningsAccumulatedLosses2023-06-30SC186440ns5:PlantMachinery2023-07-012024-06-30SC186440ns5:PlantMachinery2023-06-30SC186440ns5:PlantMachinery2024-06-30SC186440ns5:PlantMachinery2023-06-30SC186440ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-30SC186440ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-30
REGISTERED NUMBER: SC186440 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Road Air Courier Express Ltd.

Road Air Courier Express Ltd. (Registered number: SC186440)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Road Air Courier Express Ltd.

Company Information
for the Year Ended 30 June 2024







DIRECTOR: J P Smith





REGISTERED OFFICE: Road Air Courier Express Ltd
239 Portobello High Street
Edinburgh
United Kingdom
EH15 2AN





REGISTERED NUMBER: SC186440 (Scotland)





ACCOUNTANTS: Key Professional Partnership Ltd
Unit 3
Morris Park
37 Rosyth Road
Glasgow
G5 0YE

Road Air Courier Express Ltd. (Registered number: SC186440)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 31,164 280

CURRENT ASSETS
Debtors 5 103,534 54,369
Cash at bank and in hand 7,657 37,334
111,191 91,703
CREDITORS
Amounts falling due within one year 6 74,029 30,336
NET CURRENT ASSETS 37,162 61,367
TOTAL ASSETS LESS CURRENT
LIABILITIES

68,326

61,647

CREDITORS
Amounts falling due after more than one
year

7

13,616

-
NET ASSETS 54,710 61,647

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 54,708 61,645
54,710 61,647

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Road Air Courier Express Ltd. (Registered number: SC186440)

Balance Sheet - continued
30 June 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 director and authorised for issue on 21 March 2025 and were signed by:





J P Smith - Director


Road Air Courier Express Ltd. (Registered number: SC186440)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Road Air Courier Express Ltd. 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 fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customers returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of goods.

Rendering of services

Turnover from the rendering of services is recogninsed by reference tot he stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for the work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on cost


Road Air Courier Express Ltd. (Registered number: SC186440)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recogninsed on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that the taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within the provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequence that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in the profit and loss, except when they related to items that are recogninsed in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

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.

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 3 (2023 - 3 ) .

Road Air Courier Express Ltd. (Registered number: SC186440)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 53,923
Additions 34,778
At 30 June 2024 88,701
DEPRECIATION
At 1 July 2023 53,643
Charge for year 3,894
At 30 June 2024 57,537
NET BOOK VALUE
At 30 June 2024 31,164
At 30 June 2023 280

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 84,616 42,256
Other debtors 18,918 12,113
103,534 54,369

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 607 726
Hire purchase contracts 4,044 -
Trade creditors 23,960 829
Taxation and social security 25,046 23,409
Other creditors 20,372 5,372
74,029 30,336

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 13,616 -

8. FINANCIAL INSTRUMENTS

A financial asset or financial liability is recognised only when the entity becomes a party to a contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Road Air Courier Express Ltd.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Road Air Courier Express Ltd. for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of Road Air Courier Express Ltd. in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Road Air Courier Express Ltd. and state those matters that we have agreed to state to the director of Road Air Courier Express Ltd. in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Road Air Courier Express Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Road Air Courier Express Ltd.. You consider that Road Air Courier Express Ltd. 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 financial statements of Road Air Courier Express Ltd.. 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 financial statements.






Key Professional Partnership Ltd
Unit 3
Morris Park
37 Rosyth Road
Glasgow
G5 0YE


21 March 2025