Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-312023-09-01falsecourier services1213truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 4865495 2023-09-01 2024-08-31 4865495 2022-09-01 2023-08-31 4865495 2024-08-31 4865495 2023-08-31 4865495 2022-09-01 4865495 c:Director1 2023-09-01 2024-08-31 4865495 c:Director2 2023-09-01 2024-08-31 4865495 d:MotorVehicles 2023-09-01 2024-08-31 4865495 d:MotorVehicles 2024-08-31 4865495 d:MotorVehicles 2023-08-31 4865495 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 4865495 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 4865495 d:FurnitureFittings 2023-09-01 2024-08-31 4865495 d:FurnitureFittings 2024-08-31 4865495 d:FurnitureFittings 2023-08-31 4865495 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 4865495 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 4865495 d:OtherPropertyPlantEquipment 2023-09-01 2024-08-31 4865495 d:OtherPropertyPlantEquipment 2024-08-31 4865495 d:OtherPropertyPlantEquipment 2023-08-31 4865495 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 4865495 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 4865495 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 4865495 d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 4865495 d:CurrentFinancialInstruments 2024-08-31 4865495 d:CurrentFinancialInstruments 2023-08-31 4865495 d:Non-currentFinancialInstruments 2024-08-31 4865495 d:Non-currentFinancialInstruments 2023-08-31 4865495 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 4865495 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 4865495 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 4865495 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 4865495 d:ShareCapital 2024-08-31 4865495 d:ShareCapital 2023-08-31 4865495 d:RetainedEarningsAccumulatedLosses 2024-08-31 4865495 d:RetainedEarningsAccumulatedLosses 2023-08-31 4865495 c:OrdinaryShareClass1 2023-09-01 2024-08-31 4865495 c:OrdinaryShareClass1 2024-08-31 4865495 c:OrdinaryShareClass1 2023-08-31 4865495 c:OrdinaryShareClass2 2023-09-01 2024-08-31 4865495 c:OrdinaryShareClass2 2024-08-31 4865495 c:OrdinaryShareClass2 2023-08-31 4865495 c:OrdinaryShareClass3 2023-09-01 2024-08-31 4865495 c:OrdinaryShareClass3 2024-08-31 4865495 c:OrdinaryShareClass3 2023-08-31 4865495 c:FRS102 2023-09-01 2024-08-31 4865495 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 4865495 c:FullAccounts 2023-09-01 2024-08-31 4865495 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 4865495 d:HirePurchaseContracts d:WithinOneYear 2024-08-31 4865495 d:HirePurchaseContracts d:WithinOneYear 2023-08-31 4865495 d:HirePurchaseContracts d:MoreThanFiveYears 2024-08-31 4865495 d:HirePurchaseContracts d:MoreThanFiveYears 2023-08-31 4865495 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-08-31 4865495 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-08-31 4865495 d:AcceleratedTaxDepreciationDeferredTax 2024-08-31 4865495 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 4865495 2 2023-09-01 2024-08-31 4865495 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-08-31 4865495 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-08-31 4865495 e:PoundSterling 2023-09-01 2024-08-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 4865495









FAST TRACK COURIERS LIMITED








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
FAST TRACK COURIERS LIMITED
REGISTERED NUMBER: 4865495

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
349,256
376,107

Current assets
  

Stocks
 5 
105,000
105,000

Debtors: amounts falling due within one year
 6 
358,150
306,091

Cash at bank and in hand
 7 
327,373
282,724

  
790,523
693,815

Creditors: amounts falling due within one year
 8 
(191,586)
(156,498)

Net current assets
  
 
 
598,937
 
 
537,317

Total assets less current liabilities
  
948,193
913,424

Creditors: amounts falling due after more than one year
 9 
(893)
(11,343)

Provisions for liabilities
  

Deferred tax
 11 
(80,098)
(94,027)

Net assets
  
867,202
808,054


Capital and reserves
  

Called up share capital 
 12 
202
202

Profit and loss account
  
867,000
807,852

  
867,202
808,054


Page 1

 
FAST TRACK COURIERS LIMITED
REGISTERED NUMBER: 4865495
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 April 2025.





Mr I H Smith
Mrs E J Smith
Director
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
FAST TRACK COURIERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Fast Track Couriers Limited is a company limited by shares, incorporated in England, United Kingdom. The address of the registered office is Suite D, The Business Centre, Faringdon Avenue, Romford, Essex, RM3 8EN. The principal place of business is Unit 14, New Horizon Business Centre, Barrows Road, Harlow, Essex, CM19 5FN. The principal activity of the company was that of a courier and delivery service. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 
FAST TRACK COURIERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

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.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet 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 deferred 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 the 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 balance sheet date.


Page 4

 
FAST TRACK COURIERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Furniture, fittings and equipment
-
25%
Leasehold improvements
-
Over period of lease

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Livestock is valued each year by the directors.  

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

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.

 
2.12

Creditors

Short-term 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.

Page 5

 
FAST TRACK COURIERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2023 - 13).

Page 6

 
FAST TRACK COURIERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Tangible fixed assets





Motor vehicles
Furniture, fittings and equipment
Leasehold improvements
Total

£
£
£
£



Cost or valuation


At 1 September 2023
491,259
65,917
2,925
560,101


Additions
53,000
7,381
-
60,381


Disposals
(34,995)
(5,032)
-
(40,027)



At 31 August 2024

509,264
68,266
2,925
580,455



Depreciation


At 1 September 2023
135,996
45,073
2,925
183,994


Charge for the year on owned assets
47,963
6,368
-
54,331


Charge for the year on financed assets
15,367
-
-
15,367


Disposals
(20,232)
(2,261)
-
(22,493)



At 31 August 2024

179,094
49,180
2,925
231,199



Net book value



At 31 August 2024
330,170
19,086
-
349,256



At 31 August 2023
355,263
20,844
-
376,107

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
46,101
61,468


5.


Stocks

2024
2023
£
£

Livestock
105,000
105,000


Page 7

 
FAST TRACK COURIERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.


Debtors

2024
2023
£
£


Trade debtors
254,573
242,925

Amounts owed by associated undertakings
47,013
47,013

Other debtors
38,244
-

Prepayments and accrued income
18,320
16,153

358,150
306,091



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
327,373
282,724



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
4,391
3,670

Corporation tax
53,634
-

Other taxation and social security
118,190
110,971

Obligations under finance lease and hire purchase contracts
10,450
9,959

Other creditors
-
26,993

Accruals and deferred income
4,921
4,905

191,586
156,498


Any monies due or to become due from the company to Lloyds Bank Plc are secured by a debenture which was created on 9 August 2007 over the company's fixed and floating assets.


9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
893
11,343


Page 8

 
FAST TRACK COURIERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
10,450
9,959

Between 1-5 years
893
10,450

Over 5 years
-
893

11,343
21,302


11.


Deferred taxation




2024
2023


£

£






At beginning of year
(94,027)
(32,531)


Released/(charged) to profit or loss
13,929
(61,496)



At end of year
(80,098)
(94,027)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(80,098)
(94,027)


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1.00 each
2
2
100 (2023 - 100) Ordinary B shares of £1.00 each
100
100
100 (2023 - 100) Ordinary C shares of £1.00 each
100
100

202

202


The ordinary 'B' and 'C' shares are non voting and non participating. On a winding up they are only entitled to a return of capital.


Page 9

 
FAST TRACK COURIERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

13.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £15,170 (2023 - £15,504).


14.


Transactions with directors

Included within other debtors is a loan to the directors amounting to £38,244. Interest is charged on an average basis
at the official rate.


15.


Related party transactions


2024
2023
£
£

Rent paid to connected company
19,500
11,940
Amount due from connected company
47,013
47,013

The related company loan is interest free and repayable on demand.

 
Page 10