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REGISTERED NUMBER: SC267529 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Xpress Despatch Limited

Xpress Despatch Limited (Registered number: SC267529)






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 8

Xpress Despatch Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mrs V A Welch
T J Welch





SECRETARY: T J Welch





REGISTERED OFFICE: 29 Brandon Street
Hamilton
Lanarkshire
ML3 6DA





REGISTERED NUMBER: SC267529 (Scotland)





ACCOUNTANTS: Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA

Xpress Despatch Limited (Registered number: SC267529)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 3,567 4,756
Tangible assets 6 28,549 55,236
32,116 59,992

CURRENT ASSETS
Debtors 7 538,877 454,541
Cash at bank 28,419 186,099
567,296 640,640
CREDITORS
Amounts falling due within one year 8 319,756 342,944
NET CURRENT ASSETS 247,540 297,696
TOTAL ASSETS LESS CURRENT
LIABILITIES

279,656

357,688

CREDITORS
Amounts falling due after more than one
year

9

-

(2,456

)

PROVISIONS FOR LIABILITIES (5,424 ) (10,495 )
NET ASSETS 274,232 344,737

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 274,132 344,637
SHAREHOLDERS' FUNDS 274,232 344,737

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 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.

Xpress Despatch Limited (Registered number: SC267529)

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 Board of Directors and authorised for issue on 25 March 2025 and were signed on its behalf by:





T J Welch - Director


Xpress Despatch Limited (Registered number: SC267529)

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

1. STATUTORY INFORMATION

Xpress Despatch 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is derived from parcel delivery services supplied by the company.

Turnover is measured at the fair value of delivery services supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on cost and 20% on cost

Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment loss.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred

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.


Xpress Despatch Limited (Registered number: SC267529)

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

3. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 16 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 11,890
AMORTISATION
At 1 July 2023 7,134
Charge for year 1,189
At 30 June 2024 8,323
NET BOOK VALUE
At 30 June 2024 3,567
At 30 June 2023 4,756

Xpress Despatch Limited (Registered number: SC267529)

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

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023
and 30 June 2024 400,396
DEPRECIATION
At 1 July 2023 345,160
Charge for year 26,687
At 30 June 2024 371,847
NET BOOK VALUE
At 30 June 2024 28,549
At 30 June 2023 55,236

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 July 2023
and 30 June 2024 86,764
DEPRECIATION
At 1 July 2023 37,357
Charge for year 21,690
At 30 June 2024 59,047
NET BOOK VALUE
At 30 June 2024 27,717
At 30 June 2023 49,407

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 109,000 122,957
Other debtors 429,877 331,584
538,877 454,541

Xpress Despatch Limited (Registered number: SC267529)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 7,691 25,473
Trade creditors 205,224 250,405
Taxation and social security 40,046 16,147
Other creditors 66,795 50,919
319,756 342,944

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts - 2,456

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 7,691 27,929

The hire purchase liabilities are secured against the assets being financed.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

T J Welch and Mrs V A Welch
Directors

During the year, the company repaid £11,435 to the directors. At the year end, the balance due to the directors was £56,114 (2023 - £44,679). There are no fixed repayment terms and no interest was charged.

Paisley Freight
A partnership owned by the directors

During the year, Paisley Freight advanced the company £97,837. At the year end, the balance due to the company was £402,289 (2023 - £304,452). There are no fixed repayment terms and no interest was charged.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Xpress Despatch Limited

The following reproduces the text of the report prepared for the directors 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 Directors 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 Xpress Despatch Limited for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Board of Directors of Xpress Despatch Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Xpress Despatch Limited and state those matters that we have agreed to state to the Board of Directors of Xpress Despatch Limited, as a body, 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 Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Xpress Despatch Limited 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 Xpress Despatch Limited. You consider that Xpress Despatch Limited 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 Xpress Despatch Limited. 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.






Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA


25 March 2025